This is Mr. Andrew Carnegie, once the richest man in the world.
He arrived in America with no money and with no formal higher education.
His parents decided to move the Carnegie family to the United States in 1848 after a famine hit the Scottish countryside. When he arrived in America at thirteen years old, he found a job that would pay him $1.20 for a 70-hour week.
During his free time, Carnegie read books loaned to him from one of the local libraries. (Later in his life, he never forgot how important these books were to his life, so he donated his money to building over 2,500 public libraries and important educational institutions around the world.)
When Carnegie was about 18 years old, Thomas Scott, the owner of the Pennsylvania Railroad Company, employed him as a telegraph operator at a salary of $4.00 per week.
By age 24, Mr. Scott saw great potential in the young Carnegie, and asked him if he could handle being superintendent of a division of the Pennsylvania Railroad Company. He took the role, and his relationship with Mr. Scott grew stronger.
Mr. Scott later became Carnegie's mentor, which lasted until 1878, when Scott suffered a stroke that limited his ability to work. Despite this layoff in interaction, the relationship through the previous years changed Carnegie's future.
The experience gained working closely to Scott was a vital ingredient in his extraordinary success in the steel industry. Selling his company to JP Morgan would later make Carnegie the wealthiest man in the world and the extraordinary philanthropist he later became.
Now, to answer your question, what is something that almost nobody knows about entrepreneurship?
This is culinary school. It’s very “similar” to Mr. Andrew Carnegie's classroom.
How is it similar?
Chefs learn by doing. They test and practice. They burn food, and try again, and again, and again. They sometimes cut themselves, often it happens again and again.
People may know this, but hesitate to believe that … :
A college degree is not needed to become a successful entrepreneur. It’s been proven over and over again in history that this is true.
College teaches what has been done in the past, not what hasn’t. Entrepreneurs look forward. They observe the world around them and anticipate market trends.
The years and money people spend “writing papers” could be spent creating and starting a small business. People learn much more during one year in the startup world than the whole four years in college. Also, chances are, it will be cheaper.
“But starting a business won't guarantee any success!” True. Does any college guarantee you a job, or give you your money back? No! They take your money and run!
Many people think that they need an MBA to be a successful entrepreneur. False. An MBA is a “Master of Business Administration.” Let me translate what “Administration” means:
Administration is running a business, NOT starting one.
Do you see anyone “cooking” here?
A chef is not a chef until he/she cooks something.
An entrepreneur is not an entrepreneur until he delivers value.