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Self-Education Will Bring You a Fortune but Formal Education Will Make You a Living

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Formal Education Will Make You a Living; Self-Education Will Bring You a Fortune

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Self-Education

Emmanuel James “Jim” Rohn was an American entrepreneur, author and motivational speaker. Humanity will continue to remember him because of his eye-opening quote – “Formal education will make you a living; self-education will bring you a fortune”. What does it mean? The education you get formally at school, if you are lucky, can only give you a job to survive. But the things you learn by yourself through self-education can bring you wealth.

In 2012, the Uganda Bureau of Statistics revealed that the rate of the unemployed youth in the age bracket 18-30 was at 65%. I am yet to know the current rate in 2018. But I think it could be around 70% now because it has never gone down. This is, indeed, a worrying situation that requires concerted effort to address it.

Supplement the formal knowledge you acquired at school with self-education

As government and social organizations devise means to address the rampant unemployment, let us look at it at individual level. With unemployment rates skyrocketing for the youth, there is one clear conclusion I will come to. Formal education is failing to provide the skills to get employed in modern day workforce. If formal education is failing to get you a living, what are you left to do?

The only other option I am sure that will get you out of this scenario is to look for the skills by yourself. In addition to the knowledge you acquired at school, you should learn practical skills for yourself. This type of self-education is what is known as entrepreneurship. Did you know that all the wealthiest people in the entire world are all entrepreneurs?

I think there is a reason why wealthy people around the world are entrepreneurs. These people realized it early that formal education hard shortcomings. They therefore decided to look at life differently by getting their own skills and started their own businesses.

Making money is not taught at school

Making Money

There is no school where they teach you how to make money. All schools teach people so that they can be employable to earn a living. Yes, if you are lucky and you get a job in government or an organization, you can indeed survive with the monthly salary you will earn for years. But it will never give you a fortune. It will never make you wealthy. Now the question is “How many Ugandans are lucky to get a job?”

Developing great business ideas comes from the desire or passion and drive to succeed. This kind of behavior is not taught at school. From my personal experience, the skills I am using to survive now were not taught to me in any formal setting. I simply learnt them through self-education. Secondly, starting my own business has taught me more practical knowledge than any book or lecture.

For instance, there is no book I read on how to make wedding cards. Making wedding cards may look easy but it isn’t. It involves processes like cutting the paper with a machine, folding it, gluing it, designing the text card and adding card accessories to spice it up. Every step requires a skill. You must get the practical knowledge and you get it through self-education.

Your time at school provides you with a good foundation to come up with ideas and test them in your life. Why don’t you discover what you are passionate about and look for a way of making your passion a reality? If you already have a business idea, take action to turn your idea into a reality.  You cannot know how far to go unless you start the journey. It’s by starting working on your idea that you open up your opportunities to make money.

Hear what Jack Ma, the richest man in China said!

Jack Ma

If you put bananas and money in front of monkeys, they will choose bananas because monkeys do not know that money can buy more bananas”, say Jack Ma  – founder of Alibaba. In reality, if you offer a job and business to most people in Uganda, they will choose a job because they do not know that business can bring more money than salaries. Though salaries can make you a living, they don’t bring you a fortune. Instead, it’s the profits you make from your business that can bring you wealth. Did you know that?

Most Ugandans look for jobs after school, instead of creating their own jobs. We don’t blame them because our education system trains them for jobs. But since formal education is failing to address the problem of unemployment, we then have to turn our mind on self-education. This requires concerted effort from government, civil society organizations, opinion leaders, teachers and parents. We all have to learn how to foster an entrepreneurial culture in our children so that they can start their own businesses.

5 Ways to Acquire Self-Education

Self-Help

We cannot overlook the vital role formal education plays in any country’s development. It will never disappear because of its undisputable importance. But to enable ourselves to cope up with today’s competitive world, where formal employment is becoming scarcer every year, we need to empower ourselves with additional skills through self-education. This is when the youth will be able to employ themselves.

I have identified 5 ways through which you can acquire self-education. They include:

  1. Developing a hands-on skill
  2. Getting a mentor
  3. Reading to get knowledge
  4. Getting exposure
  5. Starting a small business

 

#1 – Developing a hands-on skill

Practical Skill Learning

The skills you develop by yourself give you a fallback work option. Most graduates dismiss the hands-on skills we acquire out of school as intellectually devoid. They are not. Do not undermine them! They can surely give you a fortune. Look at what you are passionate about. Think of what skills you have to do it. If you don’t have any skill, my advice to you is to look for a way of acquiring that skill. Even if you have some skills, you may need additional practical skills to make your passion a reality.

#2 – Getting a mentor

Mentor

Most people have become wealthy by just emulating those they find useful in the fulfillment of their dreams. Looking for a mentor is not all about getting someone. It’s about finding someone you want to be like. You need to find someone with similar strengths and skills you want to emulate. Establish a relationship with him so that he can help you to acquire the skills you need.

#3 – Reading to get knowledge

Read Get Knowledge

There are skills you can acquire through reading a textbook, an eBook or something. For instance, I learnt web designing by buying an eBook at $65. I read it while practicing every day each and every piece of practical information I read. After getting the basics, I then started designing golaserengraving.com. It’s a website I designed and manage by myself through self-education. It’s doing me wonders in getting customers.

In this world, you need to refresh yourself with new knowledge. That’s when you will achieve your dreams. You also need to reengineer yourself with new information and technology. If not you will be left behind.

#4 – Getting exposure

Get Exposure

Education is important but if you are only educated and not exposed, you may remain at what you acquired at school. Getting exposure is so essential that it empowers your creative mind. The onus is now on you to look for various ways of getting exposed in order to awaken your creative mind of doing things.

For instance, if you plan to grow passion fruits as your business, you may need to get exposure on the modern ways of growing them. This may involve visiting some of the successful passion fruit growers in the country or even abroad, if possible.

#5 – Starting a small business

Start Bakery Business

Entrepreneurship depends greatly on self-education. To become an entrepreneur, you need to start a business. Most people wish to start their own businesses, but they find it difficult. They fear to risk into doing things they aren’t sure will give them a living. That alone hinders most people to venture into business.

Others think that to start a business, they need a lot of money. Most Ugandans will tell you they don’t have capital to start a business. I think that’s a wrong approach to business because all successful businesses around us started with just a viable idea.

The most difficult thing in business is to get a viable idea not getting money. This is why I advise people to forget concentrating on thinking about money if they want to start businesses. When you concentrate on money first, you kill your initiative to develop your idea.

If you have a good idea, think implementing it as soon as possible by starting a small business. The reason why we say this is because along the way you will get practical hands-on skills, knowledge and information on how to build your business. You will never get it if you don’t start.

Secondly, when you wait to get the money you consider to be enough, you risk losing that money because you will not be having the skills of running a business. Better start small and eventually grow your business slowly by slowly.

Conclusion

I argue all Ugandans to acquire additional out-of-school skills through self-education. Relying on formal education alone is making many graduates remain unemployed.  Most of them cannot be absorbed into today’s workforce in government institutions. The job creation rate is so low that most graduates are to stay unemployed if they don’t acquire skills through self-education. Remember that formal employment can only give you a living but self-education can bring you a fortune. What do you think?

 

Hello! My name is Charles Kiyimba, a creative engraver, a professional teacher, a passionate blogger, a self-made graphic / web designer and the founder of Goleza Designers Ltd, an engraving business that turns images into real products. Through my hands-on experience, I share with you free helpful information on our products and services, business, marketing and personal development. Always dive in for more!

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