Why experts from 4 fields consistently outperform other entrepreneurs?
Many of the most successful entrepreneurs in the world have traditionally come from three backgrounds: law, finance and management consultancy. With the boom of the tech industry, those with computer science backgrounds have joined their leagues.
Whether it is Steve Jobs, Bill Gates, Warren Buffet, or our region’s Mudassir Sheikha, Magnus Olsson, Pankaj Chaddah, Ronaldo Mouchawar — they are all from these four backgrounds. SME10X digs into why this is the case.
Firstly, the education aspects themselves help students to get into some of the most high-paying jobs; which also indicates a strong demand for those skills and abilities.
Secondly, while this helps them accumulate capital, the employment itself sees them rub shoulders with some of the most connected and influential people in a range of industries. These connections naturally give them an advantage when looking for business partners, investors or even potential clients.
Thirdly, the finance and law sectors arguably are two of the most influential sectors that impact the overall economy. Which means that it gives people a strong understanding of the market as well as knowledge and experience to make calculated financial moves and legally protect themselves as well as their businesses with the right patents and intellectual property rights.
Education develops psychology and thinking patterns that can be applied to most situations. The 360-degree approach to situations, that is taught in law schools, helps in avoiding pitfalls and improve business processes.Sawan Ravani, founder and MD of multiple businesses in the UAE, holding a Masters in Law from University of Wales, Cardiff, UK
Management consultants on the other hand often have economic, financial, legal, and engineering backgrounds. Moreover, they are trained to use data to predict and evaluate possible outcomes, as well as develop strong strategies to achieve desired goals.
Computer sciences and engineering is an easy one to argue. The entire tech industry is built on its back. The knowledge of how computers work and how to code, allows people to think about possibilities and realise tech solutions. In a tech-dependent booming economy, naturally, students from these backgrounds have a high probability of success; especially when they have partners who complement their skills and expertise in the business.
So, you’ve got the skills, industry knowledge, connections as well as the mindset of an entrepreneur who can grow the business, coming from these four sectors.
With the world predicting that students today will be working in industries not even invented yet, and not using any of the knowledge gained today, it is critical for the young generation to choose fields that will help them develop skills and thinking patterns that continue to prove successful even today. Knowledge is not just about what you learn in books, it is about developing minds, strengthening neural connections and developing patterns of thinking.
