When Should Entrepreneurs Drop Out Of University
Also check out the full interview with Emmanuel, the 7 figure earning 21 year old Business Mentor Insiders member. He breaks down his full process here:
Emmanuel finished the first year in university with very good grades, but he was completely different from the other students. He knew that this degree is going to be useless for him. After that he went to the principle’s office and said that he is going to quit university.
Emmanuel was known as a very bright student and people were very surprised by his decision. People were surprised, but they also had respect of Emmanuel’s choice. The principle asked him the following question: “Are you aware that if you don’t get a high school diploma, you won’t be able to get a job”?
At that time, Emmanuel was 18 years old with no diploma, but making a decent amount of money.
We’ve all heard the story dozens of times: A brilliant kid drops out of college, turns his or her idea into a business and ends up becoming a multi-billionaire. College dropout successes are so rare, but why does it seem that they’re so common, and that dropping out of college to pursue entrepreneurship is a genuinely good idea? That is because we hear all the stories of billionaires who started their journeys as college dropouts, but we never hear the stories of the millions of unemployed college dropouts.
In Business Mentor Insiders, we don’t recommend quitting college or your job immediately. But when someone has a certain level of success and it is on consistent basis, then we know that this is the right time to quit and focus full time on your business.
We support that decision when people are learning and making a lot more from their business than from their job. We have people who quit university or their job and are running really successful businesses right now.
Emmanuel was making around $8K-$10K a month and he knew that he would not be able to make more money in his job. He made an analysis and realized that it is not worth going to college for 4 years and then get a job that will make him the same amount of money as he was making at that time.
The key point that was the reason of Emmanuel’s decision to start a business is that not only is he income very big, but his value in the marketplace is extremely high. In addition to that, there were a lot of people who were approaching him and he had to turn them down.
People were very envious of Emmanuel, because of the lifestyle he wanted. They were hoping that he would lose his money and get back to his parents. But, the result was completely different.
You can never learn a high end skill in university. However, you can learn some very valuable skills from business experience and you can use these skills forever. A few examples of such skills are making deals, closing sales, copywriting and so on. Once you learn these skills, it’s pretty hard to be unsuccessful.