History has shown us that the most successful startups are often led by school dropouts. However, it does not show us the clear picture. The number of failures is much more compared to the rare successes. In this post, Vishwas talks about the same in a clear and concise manner.
In a recent event, a student asked me whether it’s a good idea to drop out of college to pursue his startup ideas. He gave examples of Zuckerberg & Jobs. Recently, I received another message from a b-school student asking whether it’s justified to glorify dropouts, citing some TV reality shows that are promoting such themes.
Well, dropping out of colleges is a devastating idea, no matter how glorified it sounds. Don’t get carried away by stories of Jobs, Gates or Zuckerberg who quit college to achieve cult success. They are exceptions, not examples. The truth is most college dropouts suffer terribly in their lives, struggling to do anything meaningful. Even statistically speaking, over 94% of top leaders have completed college.
Failure rates for startups are high. Remember, we should be practical & be prepared for worst-case scenarios. With a college degree, you have solid foundation + formal recognition to find a job if you fail. Society respects you for having completed graduation. It’s essential for your Plan B.
If you have a billion-dollar idea, you shouldn’t blindly quit. You should negotiate with your college to pursue it while you stay on. Utilise college resources/mentorship. No matter what, dropping out is not justified. Don’t get carried away by TV shows.