People always wonder whether famous entrepreneurs went to public or private school, or whether they graduated college. Knowing how highly successful individuals carved their path can help us better understand how to replicate their winning strategies.
According to the team at Forbes,
- 93% of top entrepreneurs attended college, compared to 42% of Americans aged 18 to 24 who are attending or have attended college.
- Only 1 top entrepreneur was homeschooled with an example being David Karp- the founder of Tumblr.
- While 93% of top entrepreneurs did attend college, only 72% actually graduated. This means that 21% dropped out, which is lower than the 33% of Americans who drop out of college overall.
Based on the data, kids aren’t required to attend a private school to become famous entrepreneurs. You always hear about the entrepreneurs who dropped out of college and went on to lead massively successful lives, but it seems that more ultra-successful entrepreneurs continue on to graduate compared to the general college student population.
Education is critical to entrepreneurial success. The better education students receive, the more likely they are to become ultra-successful entrepreneurs. Statistics tell us that our educational system is definitely working for entrepreneurs. The system may not be for everyone, but it’s definitely working for entrepreneurs, who go on to build great companies.
What we would like to emphasize is that entrepreneurs should never think that getting more education is unnecessary. If there’s a fantastic idea, you can always pursue it, but any extra knowledge you gain along the way will only help your success.
Below, are four famous entrepreneurs making big impacts in the world, that you should watch in 2020 and beyond.
Founder of Tumblr.com, a popular social media and blog site, which is now owned by Yahoo whom Karp sold it to, which helped him turn a few thousand dollars into millions. After dropping out of high school, he began his career interning at an animation company called Frederator Studios. There, he built the studio’s first blogging platform, and created Channel Frederato, their first internet video network. Karp dreamed of going to college in New York or attending MIT, and saw working on side projects as a way to impress colleges, but never returned to high school or earned his high school diploma.
He’s an entrepreneur and filmmaker, and the co-founder of a company that specializes in selling school merchandise across the country. He is the co-founder of three companies, and is the author of a nationally bestselling book called How I Braved Anu Aunty and Co-Founded a Million Dollar Company. Varun attended Bishop Cotton Boys’ School in Bangalore, and CMR Institute of Technology, where he studied engineering.
She is the creator of MyYearBook.com. Catherine was bitten by the bug of entrepreneurialism at the tender age of 15. She came up with the idea to digitize high school yearbooks and put them online. Her big brother, Geoff, lent her some money to get started, and she and her brother are now two of the richest young entrepreneurs in the country!
The CEO and founder of the ultra popular blog Mashable. He studied at Banchory Academy and founded Mashable in 2005, at 19 years old, while living in Scotland with his parents. Blogs were springing up, so he subscribed to as many blogs as he could. He used to read everything he could get his hands on, which help educate him on building the extremely successful publication that Mashable is today.
When you dig into it, drowning in student loan debt doesn’t have to be the answer. There are plenty of jobs out there that don’t require a degree. Alternatively, we also live in a world where you can start a business at any age and at any education level. While there are definitely pros and cons to this argument, one thing is for certain. Some of the biggest entrepreneurs struck gold after they dropped out of college to pursue their dreams. Just look at people like Bill Gates, Steve Jobs, and Mark Zuckerberg.
There are so many different options to fund your education! With student loans and scholarships, it’s no longer a difficulty to turn your dream into a reality.
Never give up, follow your dreams, and stay focused! The sky is the limit for you.