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Why Can’t Formal Education System Turn Out Incredible Entrepreneurs?

Why Can’t Formal Education System Turn Out Incredible Entrepreneurs?

Formal Education Does Not Reward For Putting Square Pegs In Round Holes

One thing that Oprah Winfrey, Mark Zuckerberg, Bill Gates and Steve Jobs do not have in common is majoring in Entrepreneurism.  Perhaps if they did they all would have stuck around school a bit longer but unfortunately as hard as they tried they were not exactly known for their college GPAs.

Today this motley crew are famous billionaires but in their school days they had one other thing in common–they were all college dropouts.  While all exceptionally bright individuals they each felt like it wasn’t a good fit and that they could do better.  They each knew that something wasn’t quite right about school then had their “ah ha” moment and then the rest is history.

That “ah ha” moment is the creative spark that that transcends the formal education system and separates the dispassionate from the disruptors.  The dispassionate are the well intentioned individuals who are promised the age-old “work hard, get good grades, and you’ll be a success.”  While many follow this traditional path it’s not for everyone.  The disruptors are the ones that stick out from the crowd, the ones that go against the grain.

The paradox of the situation is that while the formal education system does provide a solid foundation to increase your chances of career success it mainly teaches you how to play by the rules versus questioning the rules.  The entrepreneur is the one who not only questions the rules, he breaks, reinvents and then breaks the rules again.

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In fact it was Jobs who famously said at the Stanford Class of 2005 commencement:

“Here’s to the crazy ones, the misfits, the rebels, the troublemakers, the round pegs in the square holes… the ones who see things differently — they’re not fond of rules… You can quote them, disagree with them, glorify or vilify them, but the only thing you can’t do is ignore them because they change things… they push the human race forward, and while some may see them as the crazy ones, we see genius, because the ones who are crazy enough to think that they can change the world, are the ones who do.”

The Numbers Are Against You

According to the Department of Education only 6 percent more Americans with college degrees are employed than those without a degree. In its most recent survey on college pricing the College Board reports that a “moderate” college budget for an in-state public college for the most recent academic year averaged $23,410 while a “moderate” budget at a private college averaged $46,272.  In other words the average American should expect to pay over $46,000 for a 6 percent more likelihood of getting a job offer.

In the Real World Failing Is Winning

The ability to be okay with failure is frowned upon in the formal education system.  Failure equals bad grades equals slim job prospects.  An entrepreneur mindset however is quite a different breed where failure is not only tolerated but its the norm.  The secret to failing is to learn from your mistake and pivot into a better solution the next time.  Entrepreneurs aren’t graded my multiple choice standardized tests or essays but the ability to come up and execute on a product or service that people actually want.

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Unlike the formal education system there is no one right or wrong answer.  In fact sometimes there are no correct answers forcing you to rethink your business which is known as pivoting.  Pivoting is the opportunity to regroup and come up with a better way of doing things.  Its the growth mindset that there is no right or wrong answer but an abundance of opportunity to try something new.

Great entrepreneurs like Thomas Edison knew this well.  As an inventor, Edison made 1,000 unsuccessful attempts at inventing the light bulb. When a reporter asked, “How did it feel to fail 1,000 times?” Edison replied, “I didn’t fail 1,000 times. The light bulb was an invention with 1,000 steps.”

Success In School Is Not A Predictor of Future Accomplishment

Being top of your class doesn’t mean that you will be an successful entrepreneur.  It only means that you learned to how to play by the rules and think inside the box better than your peers.  Meanwhile drop-outs like Zuckerberg and Jobs are failing every other day but then again their goal was not a 4.0 GPA–it was a successful and profitable business.

Human imagination is not something that can be caged or bounded by the formal education system yet many students leave school with a scarcity mindset.  This mindset tells them to get as big of a slice as possible from the finite pie of success.  What many don’t learn in school is the concept of abundance where success not just one big pie but an ever expanding pie.

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In other words instead of twenty people fighting for ten slices its twenty people collaborating together to figure out ideas to grow the market instead of trying to horde the market.  Steve Jobs didn’t try to build a better PC, he decided to build a better experience.  An experience that led to the iPod, iPhone and the iPad.  Steve baked a new pie.

How to Bust Out of the Formal System and Become An Idea Machine

In summary the formal education system is like a primordial mix of amazing life possibilities that are trapped in a lab.  The budding entrepreneur doesn’t need to learn how to cram information but rather how to combine information in new and creative ways.  The best way to do this is to become an idea machine.

An idea machine is a concept where you come up with ten different ideas a day, every day of the week.  If you’re a writer then write a list of ten ideas for a blog post, or if you’re in the landscaping business write a list of ten ideas that you could offer to new homeowners as a service to prepare for winter.  Next to each of these list items write what the next step is going to be to execute on that idea.  Not the entire solution just the very next step.

This will get your creative juices flowing to the point where you not only have creative entrepreneurial ideas but you also are forcing yourself to think outside of the box and even providing the first baby-step into action on that item.

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Entrepreneurship isn’t about theory or great ideas–its about execution, failing, drying your tears, failing some more then trying it over and over again until you succeed.  Go ahead, think outside of the box and become an idea machine that breaks the mold.

Featured photo credit: albumarium.com via albumarium.com

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Last Updated on December 4, 2020

13 Critical Things to Consider Before Switching Careers

13 Critical Things to Consider Before Switching Careers

Do you have a path not taken? Maybe you had big career dreams when you were younger, but somehow they didn’t materialize.

Maybe you took your first job, thinking it would be a stepping stone to a better job. It seemed like a good idea at the time, you recall, except the better job never came along. Or perhaps, saddled with student loans, you took a job that helped you pay them off. You paid them all right, but now you feel stuck in a career you don’t really like.

The average person spends 90,000 hours in their lifetime at work[1]. That’s too much time to be doing anything you don’t love!

Is it time to think about switching careers? Here are 13 things to do when making the big leap.

Diagnose Your Current Work Situation

Before switching careers, it’s important to figure out why you’re currently unhappy so you don’t step into another situation that isn’t right for you. Start with these considerations before making any big decisions.

1. What Are You Passionate About?

It’s somewhat shocking, but research shows 87 percent of workers have no passion for their jobs[2]. Passion can be measured many ways, and one person’s passion is another’s poison. Still, if you believe in your company’s core mission, it really helps.

How can you find your passion? You may have to switch careers. Try to arrange informational interviews with as many people as you can who work in the field of your dreams to be certain that making the switch will make you feel more engaged with your work.

Your aim: To be as happy walking into the office on Monday morning as you are leaving the premises on Friday afternoon. When you love your job, no day feels too daunting. When you love your job, it doesn’t feel like work.

Need a little help finding your passion? This article can help: How to Find Your Passion and Live a Fulfilling Life

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2. Can You Keep up With Technology?

Are you keeping up with it? And is your current company supporting your efforts? The speed of technology is so fast that many companies today can’t keep up. This may result in anxiety among the company’s leadership. The sense of anxiety can filter down and impact the workers. Morale is low, and everyone fears for their job.

When switching careers, try to find a company that will allow you to learn as you grow. It also helps to consider yourself a lifelong learner. These days, we all have to be.

Invest the Time to Dream Big

If you’re now sure of why you want to make a move, it’s time to dig into your dreams to find exactly which direction to go.

3. What Does Your Vision Look Like?

Athletes visualize their signature moves. Politicians fantasize about winning. Your task is to visualize your dream. Where do want to be working five years from now? Ten years from now? Fifteen years from now? Figure out what your titles will be at each point along your new trajectory. Will you be living in your current geographical area or will you have moved?

Ask yourself the hard questions as well. Can you afford to switch careers right now? Will you be making more money or less than you currently do? How will you support those who depend on you?

Once you have your vision clearly committed to paper, run your vision by a few of the people who know you best. Do your friends encourage you to pursue your vision? (If they don’t, consider finding more supportive friends.)

4. Do You Know What to Expect?

It’s harder to switch careers than to find a new job in your current field. You may have to accomplish the move in several discreet steps. Will making a lateral move at your current company take you one step closer to your ultimate goal?

In addition to researching your dream field online, try to surround yourself with some friends who have recently switched careers. After you have formed a rough idea of the steps you will need to take to get from where you are now to your new career, consider committing it to an action plan. The more concrete you can make your Plan, the better.

Should you be attending more networking events? Do you need to burnish your online profile? Commit to action steps, and then put those steps into your daily calendar. You’re going to do this!

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If, for instance, you’ve decided to move from marriage counseling to financial planning — you’ve seen enough divorces resulting from money matters to know there’s a better way to help people — your listening skills and discretion will be an asset. Your research will reveal whether you need specialized training or licensing to qualify. If so, go online and add your name to every list you can find to learn more information. Start calculating how to pay for your courses. A bonus you’ll get with continuing ed courses: you’ll gain access to a strong peer network.

Take Action

Time to make the move. Start considering how you will approach these steps to get where you want to go.

5. Who Will Support You?

What if, early in your career, you made a job switch that you regret? Now is the time to call your ex-boss and try to get together for lunch or a cup of coffee. Let them know you are thinking of making a U-turn back to your former field.

What if your sister disapproves of every idea you have? Either resolve to avoid her for the next 12 months or call her right now — and tell her you’re switching careers and you don’t care whether she approves! Keep all naysayers at a distance during this transition time.

6. What Can You Do Each Day to Accomplish Your Dream?

Switching careers can be quite time-consuming, but if you break down the task into small chunks, tracking your progress as you go, you’ll have a better chance of success. Whether you spend a few hours today googling your dream career, or refurbish your LinkedIn profile to emphasize the skills you have that will help you land this new job — just keep at it.

Career-switcher’s hint: Working on your new dream for one hour each day is more productive than spending 12 hours working at it on a Sunday. The more committed you are to achieving your goal, the faster it will happen.

7. Does Your Resume Highlight the Correct Skills?

First, research the qualifications of the position you hope to land. Then, look for ways to mesh them with your own skills. While some careers require specific degrees and credentials, there are many positions you can transition into that require no additional education. Sometimes, what you bring from your own background is perfect.

Take inventory of all the hard and soft job skills you possess. For the skills you don’t have, put a plan in place to acquire them!

Highlight your qualifications in a way that makes a well-argued case for your compatibility with the organization and the position you’re after. Keep in mind that all employers look for candidates with skills that show leadership and the ability to solve problems, persevere through challenges, and get results.

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Refine the skills on your resume to incorporate these resume “musts.” Make sure, though, to only claim skills you truly possess. Unless you’re proficient in a software program or are fluent in a second language, leave any mention of them off.

Switching Careers Shortcuts

When switching careers, there are ways to make it easier. Look into these questions to see what can work for you in your search.

8. Do You Have Any Contacts in Your Desired Career?

People are remarkably forthcoming on their LinkedIn profiles. This helps when you search out employees in your dream field or a targeted company. But before you take full advantage of online networking, first make sure that your profile content is fresh.

Curate all social media accounts to reflect your new direction. Social media can increase your networking opportunities exponentially. Comment on the posts of your targeted contacts and pose pertinent questions to get on their radar.

9. Are You Networking Enough?

While it may be considered old-school to tap your organically grown (offline) network, it still comes with the best odds of success. Reach out to your friends and acquaintances with industry connections who can help you make a connection.

Make a point of meeting face-to-face with anyone who can offer you a lead or provide a reference. You never know what kind of opportunity will unfold from these offline connections.

Learn more about networking here: How to Network So You’ll Get Way Ahead in Your Professional Life

10. How Can You Become an Expert in Your New Field?

Start building the skills you’ll need to make your career switch. LinkedIn and many other providers offer online courses in everything from accounting software to mastering Excel. For extra credit, see if you can find classes that award online badges for completing each course. Don’t be shy about adding these certificates to your online profile.

Read trade magazines and study up on industry trends. Write and post articles on timely topics. Develop an online presence in the field of your dreams.

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11. Are You Willing to Put Yourself out There?

Nonprofit organizations often look for volunteers to help them with their outreach, social media, fundraising, and more. Once you’ve mastered the needed skills, be sure to have the head of the organization or a board member write a glowing recommendation for you.

Depending on your desired career, it may be possible to take on a contract assignment at a company where you learn on the job. A freelance gig allows you to polish your skills, make connections, and prove you’re serious about this career change.

For example, if your dream is to transform your knack for attracting followers through pithy postings into a career as a social media manager, don’t be afraid to pitch your services. Most companies need someone to manage their online presence and may welcome your fresh new strategy.

Switching Careers Results

Now that you’ve taken the steps to switch careers, bask in the success you’ve found in doing so.

12. How Can You Reward Yourself?

Set whatever benchmarks you need to achieve as you embark on switching careers, and think of them as cause for mini-celebrations. Find frugal ways to reward yourself.

However, hold out for the big, pop-the-champagne celebration until you land your dream job.

13. Has the Risk Paid Off?

People who prefer to play it safe throughout their careers often fall short of their potential. Research shows the primary reason executives derail is an inability to change[3]. It takes a large measure of courage to pursue a new path. And when you succeed, it fuels your confidence.

You have an air of self-assurance about you and a can-do spirit that stands out. And best of all, you’ll have moved from a dead-end or lackluster job to one into which you can pour your passion and realize the feeling of self-fulfillment.

The Bottom Line

Don’t be afraid to switch your career path once you’ve outgrown the one you’re in. Set out to intentionally pursue career satisfaction and you’ll reap great rewards by realizing the joys of job satisfaction.

More Tips on Switching Careers

Featured photo credit: Kevin Bhagat via unsplash.com

Reference

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