Entrepreneurship and education: a valuable partnership

Submitted by Anonymous (not verified) on Thu, 04/17/2014 - 13:01

The two spheres of entrepreneurship and education have occupied very different
spaces for some time, with self-made entrepreneurs flying the flag for
self-directed learning. Educators, on the other hand, bang the drum for
formal education, as a means to add a feather to the cap of passionate young
visionaries.

A stream of renowned entrepreneurs, who’ve ditched formal education, have
bolstered the former viewpoint; with many CEOs dropping out of schools or
universities and going on to become billionaires.

>> Becoming a student entrepreneur

The most obvious of these is Mark Zuckerberg, who famously created Facebook
from his Harvard dormitory, and yet, after the explosion in its popularity,
left to become a full-time entrepreneur.

Other examples, including Bill Gates (Microsoft), Steve Jobs (Apple), Michael
Dell (Dell) and Richard Branson (Virgin), provide further fuel for the
self-made entrepreneurs’ fire.

But it would be foolish to be guided by the exceptions, or to confuse passion
with education. Timing and luck will no doubt have also played a part in
these modern innovators’ success stories, and not every entrepreneur will
achieve their dreams through vision, drive and natural talent alone.

Some people will tell you education is vital to gain the skills you need to
succeed, others will tell you it’s necessary for character-development and
personal growth. Some will simply tell you not to waste your time.

The way I see it, the entrepreneurship journey is likely to be littered with
unknowns, so simply having one iron in the fire has never been an option for
me.

While my experience as the founder of Mozrt – an online music discovery app –
may not be comparable with those technology sensations referenced above, far
from removing myself from formal education I’m clear I need to complete my
degree and then pursue an MBA.

>> Students – top tips for starting your own
business

The music industry, which is so pivotal to the success of Mozrt, is an
extremely volatile, crowded, and more importantly, unpredictable market. Add
to that the fact that the democratisation of technology wrought by the
mobile web has made it easier than ever to succeed as an entrepreneur – and
competition is fierce. Standing out from the crowd has never been so
important.

In fact, being at university was, in many ways, a key part of the development
of Mozrt. A moment of inspiration in the middle of my finance and business
exam resulted in the Mozrt concept being created.

Having had the idea, I frantically wrote out a formula on the back of my exam
paper and then enlisted the support of two tech-savvy peers to help in an
all-night coding session to make the idea a reality.

However, despite the success of the business so far, staying on at university
all relates back to credibility; credibility as a business person and
credibility as an individual.

The success of Mozrt rests on the backing of venture capitalists and investors
and, as the saying goes, people buy from people. For me, my offering and
attractiveness as an individual is, I believe, significantly enhanced by
having an academic track record.

Having a degree is a stamp of approval in that sense. Entrepreneurs who have
an idea are often judged solely on their product or innovation but, to me,
finishing my degree and pursuing an MBA will speak for itself.

>> MBA applications: can you pass the GMAT
quiz?

University has also exposed me to new professional networks that I would not
otherwise have had the opportunity to experience, and developed my ability
to collaborate and think critically.

While it need not be a prerequisite for success in business, having an extra
string to your bow will only ever result in adding value.

Gianni O’Connor a Coventry
University
student, will share his story at Digital
2014
, a digital skills event in June