Number #1 Student Myth that Cripples their Entrepreneurship – Especially Right After College

Number #1 Student Myth that Cripples their Entrepreneurship – Especially Right After College

Is it entitlement?

Reputation?

Acquired skillset?

Other?

I write this article because one of my friends from college said recently while chatting on group messaging platform that he thinks he can make money because none of the people he saw back home and already making money are smart “knowledgable” as he is. And so the conclusion of him being able to generate money is not difficult, in fact, the way he sounded like it should be a piece of cake. 

We all fall into the same mistake; “We know more, subsequently, this should qualify us right off the bat.”

Since I am more experienced let’s say and have left college earlier and came back for higher education. I have already gone through the same situation after just graduating from college. His statement did not pass my curiosity test as to why do we all fall in this so-called “I know better, and it should work.”,  I personally did.

Even what’s claimed to be logical, it must be tested

“We know better, probably more talented and off course more knowledgeable. Therefore, we can perform or achieve supposedly better.” While it seems logical for me till this date, the fact is this is not exactly right. 

“Nothing is impossible for a man who refuses to listen to reason,”
― Gary Halbert, The Boron Letters

TIME

The short answer, in business or anything in life, things happen for a variety of reasons and factors. Certainly, knowledge is an important factor. However, there are much more situational elements that should be considered for why businesses work or anything in that matter.

 

What should be considered to evaluate whether an idea/startup work?

IS IT: IDEAS – TEAMS – BUSINESS MODEL – FUNDING – TRAINING

To rank this in order… I have taken a screenshot of Youtube video from TED talk by Bill Gross with a title; “The single biggest reason why startups succeed.” This image ranks them in order. [actually, this video has answered so many questions I had, and mostly drove my perspective of what you could see me writing in this article]. Thanks, Bill Gross.

5 factors of business success

You can go and watch the video for more understanding, he would do a better job here. If you would ask anybody what could the most important reason for success, I bet almost everyone would choose “idea”. Sorry to tell you are wrong.

 

The question really how inspired students can match up with the market?

Aspiring students who want to begin their journey and build Startups can only know very little about the market. Clearly, the reason for this, they have been within 4 Walls for as long as they can remember. One of the major succeeding factors in starting a new venture is the ability to understand consumer behavior and what the markets demand. Consumer behavior helps in identifying whether the time is correct or not. 

 

According to the late Gary Halbert, “you must be a student of market. The first and the most important thing you must learn is what people want to buy.”

 

It is essential to have fundamentally the right environment for applications in which we can understand more about the outside world when we are studying. On top of my head, I Think mostly about 3 things that could prepare you to be the best you can in a short period.

Schools

Schools have to play an important role in preparing students of what is expected of them when they are about to leave their dorms. They have to inject in their curriculum some of the important lessons to Help them progress much faster. I generally don’t trust schools and mostly we cannot control as individuals how schools conduct themselves. So let’s assume, this is not in hand.

Mindset

The types of careers or Adventures that the students want to involve in matters in relation to their appropriate mindset. Starting a business most certainly requires a different mindset, building a career, on the other hand,  requires a different one. Understanding the differences does not solve the problem of having misconceptions of what could lie ahead, however, it puts into perspective while venturing Into the Wild.

It is important to point out that trying different things and jobs, in the beginning, would only give you great Advantage later on in life. You should know one thing or two in-depth but also know enough around you because everything is inter-connected.

Mentors

This cannot be taken lightly, In order to fast track your progress to the outside world.  One could say how can I get a mentor. This is done simply by looking at who you admire or want to be. Start following that person and contact him/her, and if that person is not accessible, alternatively, look for online mentors, and follow their online channels like YouTube. It’s free you don’t have an excuse now.

 

How to encourage conversation among many of our young graduates

Universities and colleges should encourage more conversations that are based on real-life stories. And open up platforms that can help them debate freely. These conversations will have a better impact on their life,  rather than have them listen to the one-dimensional conversation from maybe one not very experienced teacher on that topic.

The Funny Story, but not to the scholar

There is a story I heard when I was very young, and I would like to share it in this post.

Once upon a time, there was a scholar wandering the streets with his almost broken sandals. He felt tired and he sat under a tree. Meanwhile, there was a man going by and driving his 40 donkeys to the market. The great scholar saw the rich young man driving his cattle and walking by foot. Our scholar asked and politely suggested why aren’t you riding one of your donkeys since the market is pretty far from here. Remember back in the day, these 40 donkeys were the main vehicles. Compare that with our modern-day vehicles, you get 40 Toyota Hilux’s. The rich man then answered; the problem is when I ride one of them and I count my donkeys, they reduce to 39. But when I walk and I count them they become 40 again. So I decided to walk. The scholar was about to go crazy. The rich man with no brain got all this wealth and knows nothing, and I am here standing with broken sandals. 

This is a true story,  or at least That’s what I’ve been told.  Well, in any case, it makes my point, and it puts forward a strong argument.

To Conclude

The richest men in the world aren’t necessarily educated or graduated or near as knowledgable as you, they still managed to accumulate wealth. I bet if you look around you could see some examples.

Maybe your cousin’s dad appears to be normal but he is wealthy. 

The book rich dad, poor dad by Robert T. Kiyosaki explains more on that. This is one of the best books that I have read in recent years and changed my perspective on how the rich think, and how the poor see the world. it shows that you can be educated and knowledgable but yet poor.

You can go to Amazon and buy the book or use audible for the audiobook and listen. Believe me, the more you listen, the better understanding you get. the book, in general, explains things in very simple terms and easy language, so it’s not intimidating to read or listen. It’s worth it.

The below Gif is mocking those who think, they know… I would say to them

You know nothing Jon snow…

Student know nothing yet
You know nothing, you fresh graduate. GOT scene

Let me know your opinion about the article and what I could have missed?

Also, do you think I should have added extra details to explain more, it will help to improve the article for readers like you to make the best out of it.

Remember: Knowledge is great, but without considering other things and putting on the practice, things will not work easily.

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