One of the common things I do see online is how financial gurus tell people to start up a business but what they don’t take into account is that most businesses fail in five years. This doesn’t mean that those people were not determined or there was some kind of mismanagement in their businesses. The truth is that no matter how good you are some businesses will fail after five years. Unless you have extra money, you are putting into that business and that money is not coming from the Business is coming from somewhere.
I’ve seen where financial guru plays down the idea of going back to school to get an extra certificate so that it will boost your intrinsic value to get more money. I don’t blame people for doing this because after seeing the data on business, you’ll be scared to go back broke after five years. Starting up a business or trying to get more certificates cost a lot of money even though both cost a lot of time people argue that starting up your own business is better, but there’s no guarantee that you will succeed.
It is true that nothing is guaranteed but position yourself well
We all know that starting up a business has the risk but if the business later succeeds, it only means that you are set up for life, but according to the data, most businesses fail after five years, so there is a probability that you’re not going to succeed, which would be wasted time and money. The painful part would be the money would have been used to get a certificate in school to boost your intrinsic value but boosting your intrinsic value still not make you successful.
Going back to school to collect a certificate guarantees that your value increases in the market. What you are earning before will be different from what you’ll be earning after the certification. People will be ready to pay more. The only problem is that you won’t be as successful as you might want, you will still be trading your time for money, but this will guarantee you higher pay than before.
I believe that the two pathways make sense and they can also work together
Going back to school to collect an extra certificate means more money. More money means you’ll be able to take more risks. If you are still young and you know you have the time going back to school to collect an extra certificate is not bad because it simply means that you’ll be able to get more money to fulfill your dream which is to own a business later in life. This allows you to start up different businesses and stick to the one that works, but if you are old or you are nearly retirement, I believe this may not work for you. You Certainly have money in savings and going to school to get an extra certificate won’t be necessary. You have to look for what to do with your money that can generate more money for you when you’re not working.