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Billionaire drop outs like Michael Dell, Bill Gates, etc etc
It is not that they are unable to complete their formal education.
It's that they are way ahead of their time and the campus could not offer them anything more.
Michael dell was already heading a very profitable PC assembling business while in university.
When you are way ahead of your peers in business/career while at university, further studies is a pure waste of time.
Those who drop out due to the inability to complete university is less likely to succeed in life.
Most people who complete university will do better than those without, of course there are exceptions.
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(10-02-2012, 01:48 AM)Big Toe Wrote: Just recently I spoke to a good friend, an advertising professional. Hard working, multiple ad award winner but no bonus and unhappy with work. I asked why he didn't want to strike out of his own? Advertising is all about creativity and human capital, it's easier to set up than most businesses. Instead, he looked at me and with a negative tone, said, 'you think it's easy'
No one said it would be easy, in fact it would be more than difficult, but it definitely would be worth the while. Beats complaining about colleagues, the company, the boss... ...
Even the creative industry, supposedly bold and full of ideas, has succumbed to our default social order.
I am stuck in the same position but my reason for not leaving and starting out on my own is security for my family.
As you've highlighted it is going to be really hard. I am all out for it. I am a very simple person so I can live with some porridge every day. But for my kid and wife, I do not want them to be in that state. Also my elderly parents, if anything, I would most probably have to be the one supporting financially. So I feel I am stuck with no place to move.
So what do I do? I still remain in the workplace because of my commitments to my family.
Do you see any other way? or am I blinded because of the commitment and system fear?
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(10-02-2012, 11:36 AM)flinger Wrote: I am stuck in the same position but my reason for not leaving and starting out on my own is security for my family.
As you've highlighted it is going to be really hard. I am all out for it. I am a very simple person so I can live with some porridge every day. But for my kid and wife, I do not want them to be in that state. Also my elderly parents, if anything, I would most probably have to be the one supporting financially. So I feel I am stuck with no place to move.
So what do I do? I still remain in the workplace because of my commitments to my family.
Do you see any other way? or am I blinded because of the commitment and system fear?
It's good to have responsibility.
I think one has to prepare himself for future unknown opportunities if he wants out. However, preparation alone doesn't help. He must have the eyes and ears to identify opportunities. And when it appears, he must have the courage to jump forward.
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(10-02-2012, 11:36 AM)flinger Wrote: I am stuck in the same position but my reason for not leaving and starting out on my own is security for my family.
As you've highlighted it is going to be really hard. I am all out for it. I am a very simple person so I can live with some porridge every day. But for my kid and wife, I do not want them to be in that state. Also my elderly parents, if anything, I would most probably have to be the one supporting financially. So I feel I am stuck with no place to move.
So what do I do? I still remain in the workplace because of my commitments to my family.
Do you see any other way? or am I blinded because of the commitment and system fear? That is why majority of us are not Entreprenuers. Entreprenuers mindset are different. When they want to do something they wont think of "what if i fail". Their mind is thinking of what should i do to suceed and how to suceed.
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(10-02-2012, 11:36 AM)flinger Wrote: (10-02-2012, 01:48 AM)Big Toe Wrote: Just recently I spoke to a good friend, an advertising professional. Hard working, multiple ad award winner but no bonus and unhappy with work. I asked why he didn't want to strike out of his own? Advertising is all about creativity and human capital, it's easier to set up than most businesses. Instead, he looked at me and with a negative tone, said, 'you think it's easy'
No one said it would be easy, in fact it would be more than difficult, but it definitely would be worth the while. Beats complaining about colleagues, the company, the boss... ...
Even the creative industry, supposedly bold and full of ideas, has succumbed to our default social order.
I am stuck in the same position but my reason for not leaving and starting out on my own is security for my family.
As you've highlighted it is going to be really hard. I am all out for it. I am a very simple person so I can live with some porridge every day. But for my kid and wife, I do not want them to be in that state. Also my elderly parents, if anything, I would most probably have to be the one supporting financially. So I feel I am stuck with no place to move.
So what do I do? I still remain in the workplace because of my commitments to my family.
Do you see any other way? or am I blinded because of the commitment and system fear?
I was in the same position with the same fears (family committments + dependents). I did set out to do something entreprenaurial but it didn't work out and I decided to put my entreprenaurial spirits on hold, perhaps till my family are less dependent (not just financial but also other non-tangible support) on me.
In the meantime, an alternative approach had worked for me - Stocks Investing. There are many successful role models out there - Graham, Buffett, Fisher, Lynch and I'm predominantly Lynch, with a smattering of the other 3. IMO, there's a higher probability of achieving Financial Independence thro' Investing. That's why many of you are here in this forum, right? 
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(10-02-2012, 12:16 PM)Bibi Wrote: (10-02-2012, 11:36 AM)flinger Wrote: I am stuck in the same position but my reason for not leaving and starting out on my own is security for my family.
As you've highlighted it is going to be really hard. I am all out for it. I am a very simple person so I can live with some porridge every day. But for my kid and wife, I do not want them to be in that state. Also my elderly parents, if anything, I would most probably have to be the one supporting financially. So I feel I am stuck with no place to move.
So what do I do? I still remain in the workplace because of my commitments to my family.
Do you see any other way? or am I blinded because of the commitment and system fear? That is why majority of us are not Entreprenuers. Entreprenuers mindset are different. When they want to do something they wont think of "what if i fail". Their mind is thinking of what should i do to suceed and how to suceed.
Singapore is really lacking in the risk-taking spirit (I am also one of them). In the US people treat failure as a "badge of honour", which is why innovation is their strongest strength. I remembered when Integrated Programme was introduced, a lot of parents feared that if their children did badly for A Level they will be without any O Level cert to depend on. However, to be honest, in this era if you really did badly for A Level, even an O Level will also not be able to save you
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"Sadly there will always be examples of exception of people without Degree who do very well."
Poor choice of word Cory. What's so sad about people succeeding without degrees? A slip of the pen perhaps...
Thank goodness we can find top management in SGX listed companies with ITE and Poly qualifications. Phew!
Meritocracy still works in Singapore 
Just google singapore man of leisure
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The word is 'social conditioning'.
Folks are brought up to think a stable job is the way...the only way.
It is also the easiest and most comfortable way, so people are reluctant to change.
The idea of a start up cost, working 10 times as hard, no income or negative income strikes fear into most people.
Unless you have deep pockets, the first few years are going to be tough, really tough. Unlike taking political office,
where 'the family will not suffer a significant drop in living standards~grace fu', the family and yourself will suffer, no question about that.
Chances are there will be no holidays, hardly any time for recreational activities, constant worry about revenue and expenses.
It is made worse if you hire a few folks, do you have enough to pay them?
So why do some folks still do it?
1. No retirement age, no retrenchment
2. You will ultimately be responsible for the success or failure of the business
3. Seriously, is being an employee all your life what you really want?
4. The end game might be potentially more rewarding and will enable you to provide for the family more.
5. You did something worthwhile in your life.
The longer you stay as an employee, the harder it is for you to change your course.
Age
teens-20s- good time to start, but may lack adequate experience/funds
30s- chances of success is good, some working experience, some savings to start off with
40s- higher chance of success with ample experience but may lack the energy/drive to go 100%. Already somewhat comfortable being a salaried worker.
50s onwards- Better late than never. Chances are that the business will not be able to grow to its fullest potential due to the late start up.
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11-02-2012, 01:46 AM
(This post was last modified: 11-02-2012, 02:06 AM by corydorus.)
When the new immigrants came to singapore, their birth rate fall as well.
When the majority of the population is not producing or behave incorrectly, the fault is not the people but the system that shaped them. Continue to blame on the people is not going to change much.
(10-02-2012, 08:58 PM)Jared Seah Wrote: "Sadly there will always be examples of exception of people without Degree who do very well."
Poor choice of word Cory. What's so sad about people succeeding without degrees? A slip of the pen perhaps...
Thank goodness we can find top management in SGX listed companies with ITE and Poly qualifications. Phew!
Meritocracy still works in Singapore
I may have confused you.
What i meant is that there will always be people who will bring examples of exception cases of non-degree holders who succeed. And use it to imply that degree is not needed for most people.
Which why i am sad. 
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11-02-2012, 10:02 AM
(This post was last modified: 11-02-2012, 10:16 AM by Jared Seah.)
Opps!
Silly me. The joke's on me. LOL!
I am merely poking that getting a degree without getting an education is....
And there are more ways than one to get an education - besides the academic route
I am a cheerleader.
Just google singapore man of leisure
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