Like the government, colleges also claim to develop entrepreneurs. In reality, no one has a magic formula for becoming an entrepreneur. Entrepreneurs are pioneers, not followers.
For example, Michael Dell started his company in his dorm room. Forbes reports that Dell Inc. now does over $61 billion in sales and employs 103,000 globally. Dell recently told Forbes and a group of student entrepreneurs: ‘One of the funniest questions that I get is, “How do I be an entrepreneur?” His answer is: “…go experiment and do something. If you’re waiting for somebody else to tell you to be an entrepreneur, you’re not one.”
New studies suggest that colleges are unqualified to prepare young people to work for existing companies, much less create their own companies. College students are spending more time socializing and less time studying while accumulating greater debt loads. Students at institutions as prestigious as Stanford’s Graduate School of Business are failing to learn basic skills—like writing and analytical thinking.
Entrepreneurs succeed by doing things differently, not by copying. As Dr. Seuss wrote: “If you want to get eggs you can't buy at a store, you have to do things never thought of before.”
An entrepreneur must follow his own compass—not a politician’s agenda or a college professor’s syllabus—if he wants to sell “eggs you can't buy at a store.” Politicians and college professors need to step back and remove barriers to entrepreneurship and the free market system. Barriers like high taxes, excessive regulations and costly, deficient educational foundations. Just as we can’t expect fish to live without water, we can’t expect entrepreneurs to create jobs without freedom.