If you’ve ever wanted to do your own business, or felt that you need some kind of education or guidance to get started, don’t waste your time pursuing a business degree.
Of course, I’m only speaking from my own experience.
I took a degree in Business from the National University of Singapore. I always thought it was peculiar that all my lecturers, who have never sold even a pencil in their lives, were there teaching students about business.
And the most intriguing thing was, the module on entrepreneurship (which what most people would consider a foundational module) was optional!
As I looked at my peers to my left and to my right, I asked them ‘So what do you intend to do after you graduate?’
‘Get a job, of course!’ was almost always the typical reply. No wonder.
That was the paradigm, the reality box that most people have; Study hard, get good grades, find a job … and pretty much slog like a donkey for the rest of their lives.
Now, I’m not saying the university lecturers are out to scam us. But memorizing textbook answers and regurgitating marketing theories is a far cry from the real world experience that any potential entrepreneurs require.
That’s why those who throw tens of thousands of dollars more into getting an MBA really, really bothers me. No, it disturbs me.
Rare is the person on the street one who doesn’t have a degree in his/her hand. The paper chase and the MBA mills are far too common today.
Having that one more certification does zilch in preparing one to realize his niche, build a business around it, systemize the process and scale!
Many people have the false impression that possessing a degree is something they can ‘fall back on … just in case’.
Well, fall back on it all you want … if you’re content living your life in quiet desperation.
The path to success, though not easy, is a simple one to understand; realize what you want your business to be about, find a successful business person who has been there and done that, then learn from him/her. Be their apprentice, learn the ropes, emulate these mentors.
Even if you work for these mentors for free, one month under their wing is worth more than 4 years of degrees and MBAs, period.
There’s nothing to ‘fall back on’. When at first you don’t succeed, stand up, dust yourself off, and keep going.
Then hire those with MBAs to work for you. Get it?
Awesome! Well written article!
Thank you
Great article, Sean. : )
Thanks Cass!
Hi Mr Marketer,
I am a current student in NUS taking a business degree just like you. So I absolutely can relate to what you’re saying.
The entrepreneurship module is crap. And I agree in the point most go into school to get a job. Above that most people don’t even know what they want. Even a huge number of adult don’t know what they want much less students.
But I can’t say a degree is useless. If you went in with the intention of starting a business, a business degree can help you set the foundation. The thing that business school have granted me is a business mindset. It’s the training of the mind.
No doubt some may argue you can learn this when you are out in the business world. But it’s also a fact many do not get themselves expose to this knowledge even in business. And thats why so many business are struggling.
With you business degree now, go into any store and you will realize there is actually alot you can do to help the store.
In summary what I am saying is, it’s not a business degree that is useless. It’s the people who gets the degree, either have no intention to start a business. Or does not know how to apply the knowledge.
Its exactly the same in many thousand dollar seminar. They attend the seminar but see no change. Why? They get the knowledge but don’t apply. That’s why. It’s not e fault of the knowledge but the fault of the people.
Hey Norman,
Thanks for pointing out the distinctions. It definitely helps readers to dig deeper and interpret their own perspectives.
Yes, I definitely agree that ultimately, it’s what the person does with or without the degree.
There are those who know exactly what they want, are perfectly comfortable in the ‘E’ Quadrant, and know that proper certification can help them fast-track their paths.
Indeed, I won’t go so far as to say a degree is completely useless; there are some fundamental skills one can learn.
At the end of the day, it’s what one does with what he/she has learnt, i.e. applying the lessons in a way that serves them.
Hey thanks for being open to comments! I appreciate it.
Not directly related to above, but I had an interesting conversation with a friend recently and we had a discussion about Singaporean students.
Singaporean students are excellent at studying. They study but the missing link is they do not learn. So, that’s why in class they focus on things like, what are the tips for exam? What is the teacher looking for? How can i score well?
If they are focus on learning, they will ask instead, why is this concept like that? How can i apply it? Is this always applicable?
So, those who go to school to study will probably waste their time there and end up in the E quadrant.
But those who go there to learn, just like steve jobs who stayed in school as a dropout to learn (Because he cant afford), will definitely benefit in their personal and entrepreneurial journey.
true words and nice read, keep up the good work
Thanks Yaws!
You know what, you’re awesome and totally right on this! There is no job security and I’m in a totally different field from my mass communication degree. I personally feel I’m very entrepreneurial and business minded and honest to god, yes, it sickens me why people would still want to do an MBA.
What you lack in education, you make it up in virtues. The best people I know start from the ground up and it is their tenacity and attitude that take them forward.
Hey Sandy,
Ha, thanks! You’ve got it spot on too
It’s the experiences you get that others can’t take away from you.
Keep in touch
You should pose this question to Warren Buffet. By the way, Warren was a graduate of Columbia business school where famed investors Ben Graham and David Dodd taught him- an experience that would forever change his life.
Hey Sebastian,
Thanks for sharing your thoughts!
Indeed, Mr. Buffett is one of the people I admire and learn a lot from.
Ha, based on the feedback I’ve gotten offline as well, I can see there may be some clarification that needs to be done on my part.
I am positive that there are many many lessons and values one can learn from attending business school. Other than honing one’s academic abilities, there’s a chance for the student to further strengthen his/her thinking and analytical skills, among others.
What I’ve shared in my article looks mainly at people who falsely believe that just by seeking a business degree or MBA, it’ll more than suffice to make them a successful business person. If that’s their only intention, then I’d say they’re wasting their time.
At the same time, there are countless others who take a business degree or MBA for other reasons. Some do it for the challenge, others do it because they know it might give them a leg up in their corporate career. If it serves them, then good for them.
I do not discourage continued education. In fact, I would suggest anyone to continue learning, both within an official academic institution as well as ‘in the streets’, learning from mentors and thereby shortening the learning curve.
How true, without the ‘Intelligent Investor’ imparting knowledge to Warren, the Berkshire Hathaway we know may (only may) be quite a different entity than it is today.
Thanks Sebastian!
This article is exactly what I feel. I am currently in my A Level equivalent year and I don’t plan to pursue university education.
Why become a highly paid slave to the economic system? Most people go to University because they want to be safe. They are afraid they won’t be able to get a job, or they just haven’t thought about their futures yet.
After this year, I shall venture into the real world, and with the guidance of my mentor, strike out my own path. At least I stand a chance at happiness and freedom in life.
Great Article!
Hey Milton,
There is no right or wrong, and everyone has a choice.
Most importantly, they need to be aware, and consciously make that choice.
You have a promising future ahead of you.
All the best!
I actually thought about writing something like that; But, since you have, I could have not written it any better. That was excellent!
Ha, thanks JL!
Take care!
Sure thing… best of luck
this blog should someone print out and installed on every house in the world
Haha, thanks Norine!
It’s just my point of view. At the end of the day, people must know what they really want and why they are doing what they are doing.
If they know exactly why they are getting a business degree or MBA and they know for sure it will really help them, then they always have a choice.
Thanks again.