“If you were asked for advice by an intelligent, graduating, high-school senior who has decided his or her burning desire is to become an entrepreneur and can convince you of that decision; under what conditions would you recommend formal education? College, an MBA program, whatever…?”
My answer is NONE, unless they want the social aspect of college more than the goal of entrepreneurship.
I would recommend they find a hard-nosed, been-there-done-that entrepreneur to mentor them at slave wages (or less, or pay the mentor) for however long it took to learn what has to be learned. Once you know how to run a business, market it, and sell it effectively… you can hire all the biz school grads you want for peanuts. Someone, and I can’t recall who, recently told me, “if I want an MBA; I’ll hire one.” What they teach in books and what a real life entrepreneur deals with on a daily basis are two wildly different things — illustrated almost perfectly by the situation of Kwame and Bill to close out The Apprentice.
(No offense intended to people who are really into their formal education, nor the minority of very good teachers running higher education programs, nor to those who both do and teach. This is a generalized 20/20 hindsight scenario. If the school in question had Drucker teaching everything, my answer’d be different.)
“When a subject becomes totally obsolete we make it a required course.”
– Peter Drucker
What’s your opinion?