Shaping Education For Young Entrepreneurs On A Case-By-Case Basis

The value vs. cost of a college degree for the younger generations continues to be a hot topic of discussion across the higher education and business sectors. While surveys cited in Harvard Business Review and Inside Higher Ed suggest overall satisfaction with college learning among students, nearly two thirds of those surveyed agreed that higher education was not worth the cost at present levels.

Add to the mix the intrigue of entrepreneurs past and present, such as Steve Jobs, Bill Gates, Mark Zuckerberg, and others finding success without college diplomas, and the sentiment that college is a necessary precursor to business success is changing. Many of the younger generations are weighing the costs, causing a growing number to consider skipping college in pursuit of their entrepreneurial dreams.

To gain more knowledge on the entrepreneurial mindset of those who have skipped the traditional educational path for business aspirations, I had the opportunity to interview Bryan Legend, entrepreneur and CEO of Safuu. Legend chose to educate himself through numerous business ventures and recently made a name for himself in the cryptocurrency and decentralized finance (Defi) industries. His success has led to being named Money Central's 2021 Tech Leader of the Year.

Like a growing number of other successful entrepreneurs, Legend doesn't have a college degree in his pocket. But, to him, education can come in various forms. "It's about time we begin approaching the necessity of educational qualifications on a case-by-case basis," he says. "If I go to see a doctor, I sure hope he has a college degree, but many career paths available to young people today do not require the strain or the notorious financial debt that comes with acquiring a college degree."

Legend has embarked on a journey to inspire many more young and passionate entrepreneurs to pursue and attain their dreams. Below is a condensed account of our conversation concentrating on the role a less traditional education has had in shaping his success.

Rod Berger: Bryan, can you share a little about the backstory that led to where you are on your present journey?

Bryan Legend: My story is a typical rags-to-riches scenario. I am Australian and grew up with little. I dropped out of high school three years before graduation and entered the job market quite early. While others might have viewed my lack of a high school diploma or college certificate (degree) as a disadvantage, it hasn't held me back at all.

It gave me a hunger that most others could not match. I decided to push myself as much as possible and see how far I could go. My first few jobs were in sales, and I discovered something new about myself doing those jobs. It turned out that I had a special gift of negotiation, and that gift has been primarily responsible for my business success.

I have started several successful startups over my career. I founded TWILX, a digital advertising firm, and became one of the pioneers in the Search Engine Optimization (SEO), Social Media Marketing (SMM), and Search Engine Marketing (SEM) space.

I eventually harnessed my love for technology and innovation and my strong desire to make a lot of money and got into cryptocurrency in the early stages. That journey led me to Safuu, which so far has been my most successful venture.

Berger: The cryptocurrency and decentralized finance space has seen an explosion in interest in recent years, not to mention a fair share of speculation. Share a little about why you decided to throw your hat in the ring.

Legend: Well, cryptocurrency is a fascinating phenomenon of how technology has outpaced the traditional banking system and how it is at the forefront of challenging the fiat-based government. The relevance of this technology was what beckoned me more than anything else. As an entrepreneur, I always wanted to be at the center of the action, and cryptocurrency appeared to be where the action was happening.

A credible criticism of the crypto space is the unsustainability of many blockchain projects that have been flagged. Safuu is my solution for that singular problem.

Safuu is short for Sustainable Asset Fund for Universal Users. It is a DeFi protocol that utilizes blockchain technology by automatically distributing set interest payments using cryptocurrency. We designed it with innovative concepts that ensure sustainability and long-term profitability for the platform.

Auto-staking and auto-compounding are integrated through rebasing so that the circulating token supply increases or decreases automatically according to a token's price fluctuations. This sustainable rebasing mechanism not only delivers the highest annual percentage yield (APY) in the present market but also considers ways to remain profitable even as it scales up. This built-in mechanism is mainly responsible for why our users trust us so much.

Berger: Considering the complexities and risks involved, cryptocurrency is certainly not an industry for the timid. Many readers might wonder how someone who forfeited a high school diploma and college degree ended up at the very top of such a complex industry.

Legend: It's not like many cryptocurrency-based certificates are available in most colleges [laughs]. The world is one big school. The internet is loaded with information and determination has a lot more bearing on success than degrees.

The best thing gained from school is literacy. After that, it is really up to the individual. Obviously, there are people who need to get degrees, but for entrepreneurs like myself, it's often more to do with street smarts, determination, and a healthy dose of self-belief.

Berger: How has your relationship to success changed over your career? Did you start aggressively to prove the establishment wrong, and if so, has your point of view changed over the years?

Legend: Most people are sold on hope and belief and nothing more. They think they will wake up one day and notice everything has changed, including the environment around them. It's as if they imagine a big bag of cash just sitting by their bed, waiting for them because they hoped and believed.

This way of thinking is naive and far from the truth, but unfortunately, many people are in this frame of mind today. I also had the same mindset before waking up and understanding that things will only change through action. Belief and hope are powerful, but only when action is applied can our dreams have a stable tripod to stand on. I always say, "Belief in your belief will create the fact." I live by it daily, but I endeavor to add actions to make those same beliefs come to reality.

Berger: You're the classic rags to riches story many are intrigued by and driven to emulate. You also happened to drop out of school to carve your own path to success. What was the impetus behind such a strong decision to buck the traditional education model?

Legend: After dropping out of high school at a young age, I soon realized that working for "the man" wasn't something I was interested in pursuing. Deep down, I felt destined for more. Through years of self-development, I discovered my talent in the business arena within the sales and marketing sector. I have since used those learnings and my skillset in the world of cryptocurrency, where I found my true passion for overachievement.

I knew that persistence would be the key to making it all happen to meet my goal of being truly successful. It's not how many times you get knocked down but how many times you get back up again and keep fighting with persistence. It is about proving to myself and the world that success comes from within.

Berger: What would be your contribution to the dropout debate? What advice would you give to people considering dropping out of school and pursuing an independent path as you did?

Legend: It should be approached on a case-by-case basis. The world has gone digital, and the number of opportunities available to today's youth is unbelievable.

Many of these opportunities will be less juicy or lucrative in a few years. As a result, there will undoubtedly be those who decide to jump in earlier and maybe forfeit some formal education.

Holding firm to the idea that a formal education and degrees are the standard for success needs to be re-examined. Still, demonizing getting degrees should undoubtedly be avoided because success means different things to different people.

My primary concern is for those youth who cannot afford to go to school. I want them to realize that they have innate smarts and that if they are determined, they can succeed even more than I have.

Learning comes in many forms and inside the trenches is often where business-minded individuals make the most headway. Journeys such as Legend's act as a reference for those young individuals looking for inspiration as they carve their pathways as entrepreneurs. With a current net worth of over $26 million, Legend's financial gains represent how doggedness and determination can lead to overcoming obstacles that lead to success.

For youth trying to determine the cost benefits of traditional vs. less traditional education, Legend's story highlights the importance of hard work, no matter the choice. As he describes, it takes belief, hope and action working together to produce positive results—something every young entrepreneur can focus on fine-tuning.

Interviews have been edited and condensed for clarity.