Description

What you are going to LEARN in this episode:

  1. If college is still a smart investment
  2. How much entrepreneurs benefit from attending college
  3. What employers really think of your diploma
  4. The importance of building an “experience portfolio”

Today’s guest is Derek Magill, college dropout turned online marketing entrepreneur, author and business strategist.  Like most high school students, Derek was told that college was the absolute best idea to ensure he lands a job and makes a “good living”.

During his second year of college, Derek started to realize that the most valuable and enjoyable parts of his life were when he wasn’t in the classroom.  He started a small t-shirt company and made a few thousand dollars while in college.  Before long he felt like he was creating far more value in the world by selling shirts than he was by writing essays to only turn in to his professor.

He says, “you are never actually creating anything or building anything valuable during your college career.”

Rather than sitting in class and continuing to learn more and more theory, Derek recommends building a website, learning how to sell something online, or maybe start a podcast or blog.  By the time your peers are graduating from college, you’ll have a portfolio of experiences and assets that you’ve built for yourself.

I can assure you that, as someone who’s hired dozens of people, this type of “portfolio of experience” is waaaaaaay more valuable than a diploma.

We end the show with a discussion about why “college dropouts” have such a negative stigma and how college may be just an extension of our under-performing public high schools.

If you are a highschool or college student, then don’t miss the Derek’s advice towards the end about taking a “gap year” and learn from the real world rather than only experiencing professors, textbooks and exams.

Contact Info:

Derekmagill.com blog – http://derekmagill.com/blog/

Get a Job at a Startup – http://www.DiscoverPraxis.com

Recommended podcast:  http://libertyentrepreneurs.com/2016/04/le30-isaac-morehouse-experience-based-education/

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Meet the hosts

Ashe Whitener is the founder and host of the Liberty Entrepreneurs Podcast which aims to provide an alternative perspective to achieving individual freedom through the creative, entrepreneurial process rather than through the tried and failed process of politics. Ashe has two BS degrees in Engineering and is also an original member of Peter Schiff’s Euro Pacific Bank where he is currently the Head of Business Development. Much of Ashe’s experience has come during his time living in Panama and he continues to consult global teams on various projects including tech startups and offshore asset protection.

discussions

  • Hi Everyone! I’ve already posted this in Cryptoanarchy, but figured I’d repost here in case there’s not as much overlap between the groups as I assumed. Throughout the course of my education in how to write real software, I’ve been frustrated at the apparent lack of information on how to build peer to peer networks from formal MOOC sources like Coursera and Udacity. Does anyone have experience with any good resources and/or tutorials that really make a point of doing their best to help you learn everything there is to know about building P2P networks? Any courses I may have overlooked?

    Jump to Discussion Post 3 replies
  • I am a beekeeper, and I primarily sell my honey wholesale to stores.  For most of the stores, I deliver cases of honey with no price tags.  I let the store deal with that.   I have one store that insists on being a pain.  They have over 300 suppliers of local products on consignment, and everything is on a computer inventory system.  When I started selling there, I was required to put price tags on with a regular price tag gun, and to also put a 4 digit SKU code on the price tag.  The cashier just enters the 4 digit code into the cash register computer – the customer is charged the correct price, and it also adjusts the inventory and sales records.   The store has a brilliant marketing idea, and they have a great location in a huge shopping center. (50K people a day visit this shopping center.)  And they just opened up a 2nd store at another shopping center that just got built.  But the store has serious management problems.  They have hired too many people because they were friends, instead of hiring workers based upon competency.  As a result, the cashiers are incredibly slow.  I’ve seen them take 5 minutes to ring out customers when it should have taken less than a minute.  (I used to be an assistant manager of a gas station when I was 20, so I know how quickly you can clear a line of customers.)   The owner knows there are problems with checkout times.  They have been encouraging vendors to put bar code price tags on items to help speed up checkout times.  Starting 1/31/16, the bar codes will now be mandatory.   If they didn’t sell so much honey, I would tell them to go pound sand and not sell honey there anymore.  As it is, I made over $600 last month.  (Most of the stores I sell to, buy about $300 a month from me.)   My problem is that I am technologically impaired.  (I grew up without a tv or telephone.)  I still use a flip phone and don’t have a tv.  I don’t have an Ipad or laptop – my computer is a desktop, and desktop computers have served me well for 15 years.  I have the labels for my honey bottles custom printed.  The people at the store tried telling me some gibberish about how to print my own bar code labels, but they might as well have been talking Greek to me.   Does anyone have any experience printing bar code labels?  Or is anyone interested in some work printing some bar code labels for me?  I need 3 different bar codes for the 3 sizes of honey I sell at that store. (12 oz $7.00, 16 oz $9.00, and 32 oz $16.00.)   I would probably only be buying 1000-2000 labels a year. I am currently paying around 14 cents a label for glossy, color labels for my honey bottles.  I only need a basic black and white bar code label that I can stick on my bottles.   The store that sells my honey calls itself a small business incubator.  I considered asking management to ask other vendors if they were interested in printing labels for other vendors (like me) who are technologically impaired, and have absolutely no interest in printing my own labels.   But I thought I would ask you all first, and see if anyone here was interested in some work.  I don’t do bitcoin, but I do PayPal or can mail a check.

    Jump to Discussion Post 16 replies
  • I currently have a 3 and 1 year old. I have been at ends searching for liberty minded books to read to them. Does anyone have any suggestions. I also teach school ages so please feel free to throw in books for older children.

    Jump to Discussion Post 8 replies
  • In today’s world, is beekeeping an ideal libertarian occupation?   I am a beekeeper.  I have beehives located on other people’s farms, on a handshake agreement with the landowner.  Bees will fly 2 miles in every direction, gathering nectar from lands owned by other people.   Beekeeping (apiculture) is the oldest form of agriculture in the world.  Some of the oldest known laws deal with beekeeping.  Historically, beekeepers owned the hives, and the contents of the hives.  Free-flying individual bees were “God’s bees”, which prevented beekeepers from trespassing onto any of the 5000 acres in that 2 mile radius of the hive, if the beekeeper were pursuing their “escaped livestock”.  (Laws in some countries do permit a beekeeper to pursue a swarm of bees as long as the beekeeper has maintained eyesight of the swarm at all times since it left the hive.)   As a beekeeper, you are an entrepreneur.  The old-time bee books suggest that a beekeeper should consistently be able to get a 35% return on investment (ROI) annually.  It may vary from year to year, but you should be able to average 35% annually.  (Personally, I find 50% to be very achievable.  I have 75 hives, and around $30,000 in bees and equipment, and I have had almost $18,000 in honey sales so far this year.)  It is not uncommon for beekeepers to double their money in a year.   I helped a small commercial beekeeper in 2010 who ran 820 hives for honey production.  He had his best year ever, and we harvested 161,000 pounds of honey.  He sold every drop as cash sales, and accepted no checks.  (I personally witnessed one sale of $40,000 in cash.  It took the buyer a couple weeks for his bank to be able to get him that much cash.)  He sold the honey for $1.65-$2.00 a pound, depending on the quantity purchased. Myself and the beekeeper took care of the hives and pulled honey, and there were 2 other cash labor workers back at the workshop extracting the honey.   I live in Ohio.  In 1904, Ohio passed legislation giving state inspectors the right to inspect all beehives and equipment and all your facilities whenever they wanted.  This legislation was in response to a disease affecting honeybees called foulbrood which slowly killed hives and would spread to other hives.  At the time, the government’s solution was to burn the hive to prevent the spread of foulbrood.  By the 1940’s, there were antibiotics which cured the bees. (Sulfathiazole)  But the government program was already functioning, and it is hard to stop a government program once it has been started.  Residues of sulfathiazole were found in honey, and eventually the use of sulfathiazole was banned, but by that time a safer antibiotic Terramycin was already in use. (Terramycin is still a common livestock antibiotic, and can be purchased without a veterinary prescription.)   Eventually, beekeepers got tired of state inspectors burning their hives when the inspectors claimed to have found foulbrood.  (Inspectors were often beekeepers too, and it was not unknown for inspectors to burn out competitor beekeepers under the guise of controlling foulbrood.)  Some beekeepers ultimately filed a lawsuit against the state, and in 1986, the US Court of Appeals, Sixth Circuit ruled that the mandatory inspections were a violation of the 4th Amendment protections of unwarranted searches.  (However, it did still allow inspectors to inspect beehives with the beekeeper’s permission.) http://www.leagle.com/decision/19871988808F2d1180_11791/ALLINDER%20v.%20STATE%20OF%20OHIO   While I am “supposed” to register the locations of my beehives with the state, it is very common for beekeepers not to register their hives.  But should I obey a law, if there is no enforcement of that law?   I personally filed Freedom of Information Act requests with the State of Ohio, in an effort to see how many violations of beekeeping laws there had been.  Since 1904 to date, the State of Ohio is unable to find records of a single prosecution for a violation of ANY beekeeping law.  However, in subsequent FOI requests, I was able to document thousands of instances of violations of law committed by bee inspectors who had failed to follow proper reporting requirements for inspections.   I suspect that most beekeepers who watch a few YouTube videos on bee diseases, may in fact be better educated than the state bee inspectors.   In 2013, I attended Apimondia, an international beekeeping conference, which was held in Ukraine that year.  Ukraine is a terribly corrupt country.  It still remains heavily socialist, and is not at all friendly to small businesses.  Despite such a hostile environment, Ukraine is the number 5 honey producing country in the world. 1.5% of the population are beekeepers.  (If you travel across the rural countryside, it is astonishing how many beehives you see.)   Why is beekeeping so successful in Ukraine?  It is because everyone can afford the cost of a beehive, and you can go from wild lands to harvesting a marketable product with zero opportunities for corrupt government regulators to force you to pay fees and bribes at every step of the way. (Which is how most business ventures in Ukraine are.)  Not only that, you can sell your honey as a street vendor for cash, depriving the government of the opportunity to tax your earnings.   I believe beekeeping is an ideal libertarian occupation or hobby.  You are an entrepreneur.  You get to harvest a crop gathered by bees on lands you do not have to pay to use, nor do you have to pay taxes on those lands.  The government has no way of knowing how many beehives you have, or where they are located, unless you choose to tell them.  You can sell your honey for cash, (I know beekeepers who sell $200,000+ a year in cash sales) and the government has no way of taxing you on your sales, unless you tell the government what your cash sales were.  It is virtually impossible for the government to enforce any beekeeping regulations even if they wanted to.   Legendary investor Jim Rogers tells people they should learn how to be a farmer.  Beekeeping is a form of farming.

    Jump to Discussion Post 44 replies
  • Hi there Liberty.me members, this is my first discussion topic I started and a quite impotant one for me. The problem is that my little brother is heavily struggling in school and because we life in Germany it is a Public School and you have to go there until you are 18 years old. He is getting terrible grates and he is getting into truble with the teachers. He has to go to a regular Public School for at least 6 more years and with his current grades he will be forced to double a year if he doesn’t start improving. Me, thinking that the schools here in Germany are bullshit and even worse, you can’t really opt out, doesn’t help him. The problem is that he is lazy and has no motivation (no wonder since Public Schools just make you learn boring facts) to learn for the exams or even participate in the classes, so pretty much the same as me when I was in school, with the diffrence that I had at least ok grades most of the time and I actually liked to participate in the classes since just sitting there was so fu**ing boring. So nobody realy cared. So I am searching for advices and hints onto how I (or my Parents) can help my brother to at least get threw the minimum years of Public School.

    Jump to Discussion Post 11 replies