Some of the most successful people in business are proud to admit that they are college dropouts. This begs the question: is a college degree necessary to be successful in business? It’s a polarising question. Some still insist in finishing a degree while others say its no longer necessary. Whatever your response is, Stacey Ferreira, co-founder of MySocialCloud, shares important insights.

Get to know the facts

You probably are carried away by stories of overnight success. You probably think that you can easily drop out of college and then start a successful business. But this you don’t know: a step towards entrepreneurship means a lot of sacrifices. It’s not easy and it’s not glamorous as you think it is.

 

Evaluate what you know and what you already have

What skills do you posses? Do you have someone beside you to cover for your weak spots? Do you have the technology and resources to get something off the ground? Do you have a plan? Do you have money? What goals do you want to achieve? If you drop out of college without having any directions at all, then your dream of being successful will be in jeopardy.

Look at your options

Before you drop out of college, look at your goal first. What is it really that you want to achieve? Do you want to become a Doctor? Do you want to become an Engineer? How likely is it that you’ll be employed once your graduate? If becoming a professional is your dream, then yes, you need to finish college. After all, practising your profession requires a degree.

However, if you’re dreaming of doing hands-on work later on, then it would do you good to consider your options. That money you use to pay your tuition or to fund your education might be more useful somewhere else. So if you want to tread the entrepreneurial path, then you’d better start now.

But then again, it’s not easy. When you decide to become an entrepreneur and have the money to get started, you also have to be ready to make sacrifices. That includes surviving by eating noodles. Successful entrepreneurs didn’t have it easy. They also have their stories of hardship to share. Be inspired by their success but never ignore what they’ve gone through to get there.