Gen Y Speaks: I never cared about a degree, until my first 2 businesses failed. Now I see how education isn’t just a piece of paper

I’ve always been drawn to success stories of college dropouts like Mark Zuckerberg and Steve Jobs, entrepreneurs who seemed to have “made it” in life by trusting their vision. 
When I graduated from polytechnic at age 20 with dreams of starting my own business, I thought that simply having the drive and putting in the hard work was sufficient for me to succeed.  
Youth was my advantage, I decided. Completing one’s tertiary education, to me, wasn’t necessarily the key to entrepreneurial success. 
However, being brought up in a “conservative” Asian society such as Singapore where education is highly valued didn’t make my decision easy or acceptable to those around me. 
At 23 years old, I eventually decided to take up a full-time degree in business management at SIM-RMIT, while embarking on my initial two business ventures. 
Back then, I ran a shaved ice business, selling shaved ice out of a cart at temporary booths at East Coast Park during the weekends or on weekdays that I had no classes. 
I firmly believed that my passion and resilience would soon pay off. The degree was just a back-up plan. 
As my shaved ice venture became more and more successful, I set up a physical shop with the goal of expanding the business and allowing my regulars to have a permanent place to seek their sweet delights at. 
But a couple years after the shop’s opening, sales slowed down. New malls and stores opened around us, drawing customers away. Not being very experienced, we were also clueless on how to properly market ourselves. From 150-200 customers per day, we soon found ourselves averaging just 20-50. 
To make ends meet, I had to take up more work as a private hire driver. I would drive from 6 am to 11am, run the shop until 7pm, and return to the driver’s seat until 11pm. It wasn’t easy, but I was determined to do all it took it to keep my business afloat. 
At the same time, I also ventured into a side business with the goal of diversifying my risks and portfolio. Together with three friends, we developed a mobile app where event companies could source and secure part-time workers on-demand. 
To my deep dismay, I had to shut both of these ventures down just a few years later. 
The business models were just too unsustainable. I’d incurred significant financial losses, and my relationships with my friendships and family relationships had also become strained. After all, spending 15 hours each day working doesn’t leave a lot of time left to spend with loved ones. 
Many of my friends and family were also starting to express doubt and concern over my choices — were things really working out like I’d hoped? Did I really think I could sustain this? Why not just throw in the towel, and find a stable job instead?  
This was the lowest point in my life. I’d never felt so lost. 
How had it all gone so wrong? Unwilling to let my entrepreneurial passion die, I decided to critically reflect on my failures in hope of gleaning lessons for my future. 
Ultimately, I realised that what I lacked was proper business knowhow. I didn’t know how to do things like conduct thorough market research before starting my businesses, which was why both ventures eventually failed. 
I realised how crucial it was to first have the skills and knowledge of how to run and grow a business, such as marketing, rather than jumping straight into the deep end of entrepreneurship.
Once I opened my eyes to the actual value of an education, I set my mind on making the most of my time at SIM-RMIT to help me with my next business venture. 
I soaked up the insights and practical tips shared by lecturers on how to run and market a business. I also threw myself into presentations, which helped me confidently pitch my new venture, Frozt, to business partners, retailers and customers alike. 
The degree programme allowed me to run my business during the day and fit in my classes in the evenings or where my schedule allowed. I also developed strong friendships with my coursemates, several of whom are second-generation entrepreneurs managing their family businesses. 
This helped me put to practice what was taught in school: Using my time effectively, and building a network of resources to readily tap on for advice and insights. 
Despite our different age groups and working experiences, my schoolmates and I had common goals. We became each other’s sounding boards to discuss challenges we faced and new ideas we wanted to explore — such as newer, more flexible modes of sales and distribution, rather than a physical shop.
This robust exchange in ideas and practical tips reinvigorated Frozt as a business.
Despite my initial reluctance, I’m glad I undertook a formal degree after all. 
I realised that education isn’t just about appeasing others or obtaining their approval — it’s an investment in yourself, for yourself.
To this day, I still think back on some of the case studies we worked on in class for inspiration. One of my lecturers even became my mentor, whom I still turn to for advice and guidance.  
Today, Frozt has a regional presence, selling healthy popsicles made from real fruit.
Looking back on how far I’ve come, I understand now that navigating the path of entrepreneurship entails facing an array of uncertainties, risks, and the constant spectre of failure. 
Passion is essential for every business owner but having the right direction, resources and perspectives matter just as much too. 
Now, I hope to pass on what I’ve learnt to other aspiring entrepreneurs, especially lessons from my own setbacks and challenges.
Most importantly, I want to show them how “never say never” can be applicable in areas we may not even realise we need it — like how getting a formal degree reshaped my perspective.
That’s why my brother and business partner, Terence, and I decided to introduce the Frozt Entrepreneurship Programme. We collaborate with schools to share our entrepreneurial story and teach students basic business skills such as sales, marketing, and accounting.
Students also get the opportunity to front a business for a day by selling Frozt products in their school while receiving real-time guidance from our team. 
Through this, we hope to inspire the next generation of business leaders to dare to dream. Failures don’t have to be roadblocks in our path, instead, they can serve as guiding signs and lights to lead us to success. 
ABOUT THE AUTHOR:
Glen Lee, 35, is the co-founder of Frozt, which manufactures and supplies of fruit popsicles. He completed his bachelor’s degree in business (management) at SIM-RMIT University.