Does it matter where you go to college?

[SethDamien]

I'm from the Philippines, i have an offer from my professor for a scholarship to study in a University in the Netherlands. I admit its tempting - and they offer the course i was looking for!

 

The application however is stressful, not to mention i have to take an "english proficiency" exam, rigorous interviews, etc, and for what? to write a great resume when all of this is done?

I want to learn to start a business, not learn to be employed!

 

would it really matter? if i stayed here and studied in a national university who offers the same course, would my success be hindered?

 

I guess i have my answer, but i would also like to know what you guys/gals think.

[Tayla]

Weigh out which one carries the courses that best meet your long term goals.

 

Not sure where you are applying, most universities do not use English as the first language of studies in Europe.

 

Business majors do need to understand the employment process's though, unless you plan to be autonomous and not veer into the world communicating or working with others.

[Maggie4]

If the application wasn't stressful, no English test, no interview, then would you go? That's what you have to ask yourself. If you're choosing not to apply because it's too stressful, and would rather take an easier path, of course that's your choice in life, but be clear with yourself if that's what you are doing. When you start a business, you will need to have the kind of personality that faces every challenge head on.

[SethDamien]

Weigh out which one carries the courses that best meet your long term goals.

 

Not sure where you are applying, most universities do not use English as the first language of studies in Europe.

 

Business majors do need to understand the employment process's though, unless you plan to be autonomous and not veer into the world communicating or working with others.

 

I was advised to apply at the Delft Institute of Technology by our dean. I want to pursue Masters in Real Estate Development and the University offers the course in English. However, the school focuses on the technical side.

 

The Asian Institute of Management on the other hand offers a more practical curriculum such as financial/marketing side of Real Estate Development which i am eager to learn more than the technicalities (im already an Architect BTW)

[SethDamien]

If the application wasn't stressful, no English test, no interview, then would you go? That's what you have to ask yourself. If you're choosing not to apply because it's too stressful, and would rather take an easier path, of course that's your choice in life, but be clear with yourself if that's what you are doing. When you start a business, you will need to have the kind of personality that faces every challenge head on.

 

I like the way you think - And i agree.

 

However, im still working at my current job at a local firm but i need to spend time to process all of the required paperwork and i have fees to pay - which means i have to take a lot of absences - absences i cannot afford.

 

If I were to choose between the two universities just to gain similar credentials, I'd go for the easier one. But that's just me.

 

The Netherlands Uni just gives me the opportunity to visit a new place though, but that's about it i guess.

[loveweary11]

Going to college is great. You pick up life skills and knowledge that can't be leanrd elsewhere.

 

However, if your primary goal is to start and run a business, it is absolutely not necessary to go to college.

 

As a business owner, your primary goal is to surround yourself with people of great intellect who know more than you do about their given specialties.

 

Opening and running businesses is a skill. A simple concept, yet tricky in practice. This is the skill you need to hone, not arcane real estate stuff. You hire in that knowledge.

 

In the better partnof a decade it'll take you to pick up a masters, you could already be a millionaire.

 

Food for thought from a seasoned entrepreneur.

[clia]

In my opinion, you should go to the highest ranked school you can get into that you can afford. School rankings matter when you are getting your first job out of college. You will have more opportunities at a higher ranked school because more companies will be recruiting there and will be more impressed with a degree from there. (When you are first starting out, you typically have little to go on other than your degree and maybe an internship or two. Now, if you are a total all star and have a packed resume, your school may matter less. It depends on you.) Your school stops mattering after you've worked for awhile. At least that's how it is in the US.

[GunslingerRoland]

I guess the big question, is what do you want to do with your life after college, where do you want to work, what do you want to do.

 

 

I'll tell you one thing. I'm in IT and people come to me all of the time with these resumes, filled with honors degrees, masters degrees and PHD's from China & India. And many of them, can't speak English at all, and aren't even that good at the technical aspects of their jobs. So honestly, IMO a degree from a first world country is worth much more than one from a developing nation.

[SethDamien]

Going to college is great. You pick up life skills and knowledge that can't be leanrd elsewhere.

 

However, if your primary goal is to start and run a business, it is absolutely not necessary to go to college.

 

As a business owner, your primary goal is to surround yourself with people of great intellect who know more than you do about their given specialties.

 

Opening and running businesses is a skill. A simple concept, yet tricky in practice. This is the skill you need to hone, not arcane real estate stuff. You hire in that knowledge.

 

In the better partnof a decade it'll take you to pick up a masters, you could already be a millionaire.

 

Food for thought from a seasoned entrepreneur.

 

Thanks for your input @loveweary11! Just the kind of stuff to keep us inspired!

 

I've read some books too, like "rich dad poor dad" and you don't get more emphasis than that. Not having a degree is not the end of everything.

 

If that's the case, how may i sharpen my business-running skill? Just purely through experience?

[SethDamien]

In my opinion, you should go to the highest ranked school you can get into that you can afford. School rankings matter when you are getting your first job out of college. You will have more opportunities at a higher ranked school because more companies will be recruiting there and will be more impressed with a degree from there. (When you are first starting out, you typically have little to go on other than your degree and maybe an internship or two. Now, if you are a total all star and have a packed resume, your school may matter less. It depends on you.) Your school stops mattering after you've worked for awhile. At least that's how it is in the US.

 

Great inputs! Thank you! This advice is definitely useful for people on the employment/career track...

 

However, im not trying to get into Uni to impress recruiters or work at a good job with high salary. I want to learn in this field so i can get my business started on the right track.

[GunslingerRoland]

Rich Dad Poor Dad, is largely fictional. And it's also the story of a man who went broke over and over again, until he became rich, by selling the story of how he became rich (which wasn't actually true yet). Be very careful using it as inspiration.

 

 

A university degree is equivalent to a high school degree 50 years ago. Very few jobs doing anything useful don't require one. Sure you can start your own business, but the reality is that most people start successful business, work for a few years first, to build up their skill set and make connections first.

[clia]

Great inputs! Thank you! This advice is definitely useful for people on the employment/career track...

 

However, im not trying to get into Uni to impress recruiters or work at a good job with high salary. I want to learn in this field so i can get my business started on the right track.

 

Well, if you plan to just start your own business, then your school matters less. But it still might matter to your potential clients or customers, depending on your field.

[loveweary11]

Thanks for your input @loveweary11! Just the kind of stuff to keep us inspired!

 

I've read some books too, like "rich dad poor dad" and you don't get more emphasis than that. Not having a degree is not the end of everything.

 

If that's the case, how may i sharpen my business-running skill? Just purely through experience?

 

Experience is great. That's how I did it.

 

I went to college. I have a Masters in Physics and a Computer Science minor.

 

But, I was always very entrepreneurial.

 

I like to tell people I got my MBA on da streetz, which is true. I had my school of hard knocks in NYC, opening my first businesses there, losing everything once, starting over.

 

But to do it right the first time around, you need to voraciously read all books on entrepreneurship and get yourself a mentor.

 

An older person with tons of experience running businesses as well as some connections for you. There are some organizatized mentor matching groups in the states. Probably you have something similar.

 

I has a tech company. I was a cs minor. I could have probably done a so so job as the CTO, but I didn't. I hired the best I could afford. He was far better than I was at both programming directly, as well as leading the other developers.

 

I lead the management team, steered the ship and lead the sales team.

 

That was way more than a full time job. You can't do the very small stuff easily while steering the ship. Either you get the small details wrong, or you lose control of the ship sweating the details.

 

The best preparation, college or not, is reading on entrepreneurship and getting a mentor.

[Mind-Chants]

A masters degree might give you some initial credibility if you want to start a business. Plus in a developing country,a foreign degree from a developed country has got wide acceptance and considerations. Beyond all these college degree can't assure you a successful venture.

 

If I remember correctly you had once started a thread about opening a start-up. However I am confused right now about your priorities. To quote you "I want to learn to start a business, not learn to be employed! " demands learnings in business administration while "they offer the course i was looking for! " sounds like you are looking for a technical degree. Like loveweary said - You can't take everything on yourself. Prioritize what you want then make a move accordingly. If it's the business side you are looking at, you could start reading books (as suggested earlier) and networking.

 

Rather thinking about making a good decision, take a decision and make it happen.

[SethDamien]

I was planning to study in Real Estate Development... Its definitely tricky as it requires a huge capital for your first investment.

 

I see myself in the long run buying/selling properties, renting out apartments/offices, etc... it just keeps calling to me, the entrepreneurial hunger... I understand though being a Developer is not easy, and is risky - just as any sort of business, and is multi disciplinary. However, being a developer requires no degree, and as @loveweary11 stated, I bought a lot of entrepreneurial books on the matter.

 

I did start a forum on starting a business "http://www.loveshack.org/forums/platonic/business-professional-relationships/564128-starting-business-25-a" about making a deal with banks for my clients. But i'm also interested in buying properties on the side. I know i'm biting off more than i can chew, that's why i still need better understanding on the subject, ergo, a masteral course.

 

Either that, or organize a super amazing team to do the work for me while i do the management and marketing.

Edited February 26, 2016 by SethDamien

[loveweary11]

I was planning to study in Real Estate Development... Its definitely tricky as it requires a huge capital for your first investment.

 

 

Either that, or organize a super amazing team to do the work for me while i do the management and marketing.

 

If I were where you are, I'd find the property (and 3 backup ones), partner with the construction company (and a backup one), partner with a Realtor.

 

After all of that is in place, I'd then run all the numbers, make sure the plan provides a healthy return and then put it in front of real estate investors.

 

Those investors will take the vast majority of the profits and leave you riding a bicycle to work, but..... if you spearhead the whole project and get your brand everywhere on it, you'll be in good shape on the next one to negotiate for other types of debt funding or simply building in good profits by getting better terms from stands real estate investors.

 

And when I say "partner" i mean a business to business partnership.

 

I've found having an actual partner in a business is a nightmare. Someone... one person... has to have control. Otherwise you are paralyzed with gridlock.

[Qboro90]

I was planning to study in Real Estate Development... Its definitely tricky as it requires a huge capital for your first investment.

 

I see myself in the long run buying/selling properties, renting out apartments/offices, etc... it just keeps calling to me, the entrepreneurial hunger... I understand though being a Developer is not easy, and is risky - just as any sort of business, and is multi disciplinary. However, being a developer requires no degree, and as @loveweary11 stated, I bought a lot of entrepreneurial books on the matter.

 

I did start a forum on starting a business "http://www.loveshack.org/forums/platonic/business-professional-relationships/564128-starting-business-25-a" about making a deal with banks for my clients. But i'm also interested in buying properties on the side. I know i'm biting off more than i can chew, that's why i still need better understanding on the subject, ergo, a masteral course.

 

Either that, or organize a super amazing team to do the work for me while i do the management and marketing.

 

While I commend you on having a goal that you have set in mind as far as your career plan and what you want to build on your own, I also think you need to consciously keep in the back of your mind having a safety net in the event you need to work your way up in order to either obtain the capital required to make your first investments, or build the contacts and relationships with the people you will most definitely need to work with and have in your overall company structure in order to be profitable and successful.

 

I can't speak for any other countries than America but I would always advise someone to obtain a college degree from an accredited university regardless of whether or not the field you're going into requires one or not. Odds are that sooner or later you will either come across an opportunity that interests you which will require a degree, or the credentials a potential client/opportunity is looking for has a college degree as a requirement in order to trust you to take over the project, property, or venture.

 

Also, I didn't see whether or not you mentioned if by staying at home would force you to pay for your additional schooling. Anytime you can obtain a scholarship and eliminate student loans or the thousands of dollars it costs to go to university, seize it and take the chance. Again, I'm not sure how things work outside the U.S., but the colleg debt that most people your age face here is what buries them for years after graduation. And a college degree here is now a must have when it comes to finding a job or establishing credibility in your own. Business.

 

It's getting to the point where everyone has a college degree and now people are being forced to obtain Masters, PHD, higher level degrees in order to separate themselves from the countless others with the same credentials.

 

And furthermore, don't discount how impactful and beneficial being able to travel and experience more of the world and other cultures can be at this point in your life. This is likely the only chance you'll have to meet people from all over the world, expand your horizons and knowledge and most impatiently, build up your contact list profiles through the people you meet and referrals you get from professors or projects you work on.

 

Especially in the real estate market. If you are able to learn another language (English will allow you to do business all over the world if you want to have really high goals for your self) and personally experience the real estate market in countries other than your home, then that is just more attributes and unique skills you're going to have at your disposal when it comes time to launch your business.

When you're talking to potential investors, you'll be able to reference "during my time in the Netherlands I was able to notice how the markets there circumvented the declining housing market and grew in specific areas... I see opportunities like that here which I know I can build with your support".

 

That's just a hypothetical example of how cultivating more knowledge and more experiences will always be a benefit no matter what field you go into. Something to think about as you make your decision. Good luck ! Work hard

[SethDamien]

If I were where you are, I'd find the property (and 3 backup ones), partner with the construction company (and a backup one), partner with a Realtor.

 

After all of that is in place, I'd then run all the numbers, make sure the plan provides a healthy return and then put it in front of real estate investors.

 

Those investors will take the vast majority of the profits and leave you riding a bicycle to work, but..... if you spearhead the whole project and get your brand everywhere on it, you'll be in good shape on the next one to negotiate for other types of debt funding or simply building in good profits by getting better terms from stands real estate investors.

 

And when I say "partner" i mean a business to business partnership.

 

I've found having an actual partner in a business is a nightmare. Someone... one person... has to have control. Otherwise you are paralyzed with gridlock.

 

I already have a contractor and a realtor, all that's missing is finding a suitable property - one within the city center yet have sufficient privacy. However, setting criteria is one thing, finding a cheap lots within the city is another.

 

The biggest hurdle so far based on you plan is finding suitable investors. This country isn't exactly brimming with investors with pockets full of cash. Finding investors within my circle of friends/family isn't that simple either. My only option are banks.

 

Question: Are banks a good debt funding source?

[SethDamien]

While I commend you on having a goal that you have set in mind as far as your career plan and what you want to build on your own, I also think you need to consciously keep in the back of your mind having a safety net in the event you need to work your way up in order to either obtain the capital required to make your first investments, or build the contacts and relationships with the people you will most definitely need to work with and have in your overall company structure in order to be profitable and successful.

 

I can't speak for any other countries than America but I would always advise someone to obtain a college degree from an accredited university regardless of whether or not the field you're going into requires one or not. Odds are that sooner or later you will either come across an opportunity that interests you which will require a degree, or the credentials a potential client/opportunity is looking for has a college degree as a requirement in order to trust you to take over the project, property, or venture.

 

Also, I didn't see whether or not you mentioned if by staying at home would force you to pay for your additional schooling. Anytime you can obtain a scholarship and eliminate student loans or the thousands of dollars it costs to go to university, seize it and take the chance. Again, I'm not sure how things work outside the U.S., but the colleg debt that most people your age face here is what buries them for years after graduation. And a college degree here is now a must have when it comes to finding a job or establishing credibility in your own. Business.

 

It's getting to the point where everyone has a college degree and now people are being forced to obtain Masters, PHD, higher level degrees in order to separate themselves from the countless others with the same credentials.

 

And furthermore, don't discount how impactful and beneficial being able to travel and experience more of the world and other cultures can be at this point in your life. This is likely the only chance you'll have to meet people from all over the world, expand your horizons and knowledge and most impatiently, build up your contact list profiles through the people you meet and referrals you get from professors or projects you work on.

 

Especially in the real estate market. If you are able to learn another language (English will allow you to do business all over the world if you want to have really high goals for your self) and personally experience the real estate market in countries other than your home, then that is just more attributes and unique skills you're going to have at your disposal when it comes time to launch your business.

When you're talking to potential investors, you'll be able to reference "during my time in the Netherlands I was able to notice how the markets there circumvented the declining housing market and grew in specific areas... I see opportunities like that here which I know I can build with your support".

 

That's just a hypothetical example of how cultivating more knowledge and more experiences will always be a benefit no matter what field you go into. Something to think about as you make your decision. Good luck ! Work hard

 

I really appreciate your advices @Qboro90

 

I have a degree in Architecture. Wanting to go into real estate is a conscious effort to close the gap between my desire to be an entrepreneur and an architect.

 

Having a degree from a developed country is definitely a big plus and will most likely project a good image to potential investors here.

 

Staying home entails me to spend for my schooling but at least i get to work on my business. On the other hand, scholarship outside the country would be greater - credentials wise. But I have my reservations. I had the exact same sentiments as @loveweary11. I could start earning in my business before it takes to finish my masters. - But if it provides greater opportunities and returns in the long run, why not?

 

I know my destination, though i'm still not sure what road to take

[Mind-Chants]

 

Question: Are banks a good debt funding source?

 

 

Banks are definitely a good debt funding source but there many a things associated with them. Banks would extend debts when they are assured of returns from your business. Like you they are also doing business. Numbers matter a lot to them.

 

They provide all kind of financing (short, mid or long-term). They finance all kind of needs like capital, fixed costs etc. But the catch is you generate enough cash flow to cover the interest payments and return the principal. Commercial viability is a major factor here. For that you need a concrete B-Plan with all details. A suggestion here, show your numbers, break even point and other finance related returns. This section in your B-Plan would help secure the debt.

 

They may ask for assurance of repayment by requiring personal guarantees and even a secured interest (such as a mortgage) on personal assets. But they offer flexibility in many matters.

 

One critical aspect is interest rate. In developed countries capital is cheap but in developing countries like Philippines capital is a costly affair. So the rate of the debt instrument is going to be significant. Considering that in mind mold your B-Plan to generate enough returns.

 

My suggestion – Initial stage go for angel investment in equity sharing mode. This is a viable option in a developing country. Since you are not in debt, you would generate enough returns to build your capital base and explore other financing options. Lenders and investors usually prefer low debt-to-equity ratios because their interests are better protected in the event of a business decline. High debts risk NPAs for banks.

 

Second, real estate doesn’t give you immediate returns. So servicing the debt instrument is a challenge. Plus the benefit in equity model is that you can flirt with different business models before freezing an appropriate one (board consent). In debt there is little scope for mistakes.

 

Try to understand the concept of debt-equity for better insights on finance aspect of doing business.

 

P.S. – I am no expert in finance (not even my field).

[craw]

Are you crazy? you got offered a scholarship for school in the Netherlands?!?!?

GO.

 

Your Tita should give a quick tight smack.

[Grumpybutfun]

An opportunity to study in the Netherlands is something that gives you experience and helps you learn to deal with stressful challenges. It seemed to me that you don't want to do the basic work to apply.....if that is true, being an entrepreneur will not work for you as it is stressful beyond any job or career where someone else makes the big decisions and takes the big risks. Also, as someone who does engineering troubleshooting as my career, few business owners in real estate or development are without MBAs from impressive Ivy Leagues or comparable schools. The days when you could pull yourself up by your bootstraps on tenacity and grey dog knowledge is sadly in the past. Now you need education, a dogged work ethic, networking, confidence, no aversion to risk and Lady Luck.

Get out of your comfort zone and do not choose the easy course. Choose the course that will give you educational opportunities and experiences beyond a mediocre approach most every person your age is taking.

Best,

Grumps

[SethDamien]

An opportunity to study in the Netherlands is something that gives you experience and helps you learn to deal with stressful challenges. It seemed to me that you don't want to do the basic work to apply.....if that is true, being an entrepreneur will not work for you as it is stressful beyond any job or career where someone else makes the big decisions and takes the big risks. Also, as someone who does engineering troubleshooting as my career, few business owners in real estate or development are without MBAs from impressive Ivy Leagues or comparable schools. The days when you could pull yourself up by your bootstraps on tenacity and grey dog knowledge is sadly in the past. Now you need education, a dogged work ethic, networking, confidence, no aversion to risk and Lady Luck.

Get out of your comfort zone and do not choose the easy course. Choose the course that will give you educational opportunities and experiences beyond a mediocre approach most every person your age is taking.

Best,

Grumps

 

Thank you Grumps! Your input is highly noted!

 

I did mention stressful. -- At the time, i felt the effort i put into the application would just go to waste and wont matter in the long run - i could be getting my business off the ground by the time it took to complete my Masters'.

 

-- In business this would translate to a missed opportunity which would have tremendous returns in the long run.

 

I do understand the tenacity of being an entrep. I've juggled with contractors, engineers, banks, clients before as a sole practitioner and experienced managerial positions in the present company i work for.

 

But again, im not closing the options. A degree in Europe could set me up for good and put an impressive image to local investors.

 

It puts to life one of my favorite sayings:

“Luck Is What Happens When Preparation Meets Opportunity"

- and i think this is the preparation i need.

Edited March 6, 2016 by SethDamien

[TrustedthenBusted]

As someone who spent years working in Corporate Human Resources and Recruitment, I can tell you that it really doesn't matter where you went to school. What matters is that you went, and finished.

 

If you do not go to college, your options ( at least in the US ) are sorely limited. There are exceptions, and I hear from them often. I was one of them myself, as I completed my degree later in life when my career was already established.

 

But generally speaking, for the masses, there are two piles of resumes. Those with degrees listed, and those headed for the shredder.