June 18, 2020 14 min read



You see yourself at a point in life where an education is vital for financial success. 


You could follow the path of others by pursuing formal education from a prestigious college or university, but is that college or university best suited for you and your needs? 


On the other hand, some people go into apprenticeships to learn the ins and outs of a trade. Others, still, take a more obscure route in pursuing an online education in entrepreneurship and freelancing to make money.


Whichever you choose, it should be known that online and traditional education are vastly different, so it’s important for you to understand which path will work best for your personal growth, development, and success. But before diving deep into determining factors, it’s important to establish an understanding behind each type of education.

Online Education vs Traditional Education: Defined

Online Education


Online education allows students to learn online from the comfort of their homes. There are no degrees or certificates handed out. Rather, an online course is designed to provide knowledge through the learning process itself. The length of these courses vary, but most courses allow you to learn at your own pace.

Traditional Education


Traditional education is the formal way to pursue an associate’s, bachelor’s, or master’s degree. These classes consist of a traditional, in-person classroom setting. Programs usually last for 2-8 years. This traditional path is the type of education that most people pursue after completing high school.


The Importance Of Education


Being educated in today's world is critical. Whether you want to become an engineer, doctor, mechanic, or photographer, it’s essential to pursue education to advance yourself in an industry. In your education, you will learn basic principles as well as important skills and techniques that are mandatory for you to become an expert in your field.


Click to Tweet: Education is the most powerful weapon which you can use to change the world


Did you know that education serves a purpose beyond securing a job? Nelson Mandela once said, “Education is the most powerful weapon which you can use to change the world.”


Education is far more important than the information discussed. Yes, it is necessary for you to become an expert, but professional education provides you with far more than the content itself. 


Education programs help you develop skills such as decision making, time management, work ethic, and creativity. Not only that, but you start seeing the world in a bigger picture while grasping an idea of how things around you work. These are skills left out of textbooks.

Entrepreneurs Who Focus On Education


Successful entrepreneurs are living proof that education is mandatory for success. 

  • Bill Gates reads 50 books a year. 
  • Warren Buffet spends between five and six hours a day reading five newspapers as well as 500 pages of corporate reports. 
  • Mark Zuckerberg reads at least one book every two weeks. 
  • Mark Cuban reads more than three hours every day. 
  • Arthur Blank reads two hours every day.

Even though these individuals have achieved abundant amounts of wealth, they still take pride in furthering their education and in altering their mindset. It’s the process of never-ending learning that allows them to further their career. If the top CEOs and entrepreneurs are fond of education, then chances are it’s a key element for success. Thetype of education selected depends on their personality traits and personal preferences.


Following An Unconventional Path


The common path after high school is attending a prestigious university to obtain a degree. These could be for jobs such as accountants, lawyers, psychiatrists, or architects. But did you know that it’s possible to achieve abundant wealth without going to college or university?


Another approach to traditional education is pursuing a journey in self-education: learning by trial and error in the presence of a mentor. This journey involves the art of learning a particular skill set or starting a company built around a product or service.


The value in self-education comes from failures and triumphs learned along the road to success. This path includes books, online courses, and online resources that are present online, but it may require you to commit to 80-hour workweeks with minimal early results. Rest assured, anyone can achieve wealth if they are willing to work hard and keep a coachable mindset.


To elaborate, here are a few people who did not pursue the route of traditional schooling:

 


  • Michael Dell: dropped out of the University of Texas and built Dell Technologies
  • Steve Jobs: dropped out of Reed College and built Apple, Inc.
  • Bill Gates: dropped out of Harvard and built Microsoft Corp.
  • Larry Ellison: dropped out of the University of Chicago and built Oracle Corp.

So how did these entrepreneurs know which industries to get into? How did they know that coding or building computers were their best means of achieving success? At this point, you have to determine which skills are best suited for your destined career.


Finding Your Destined Career


The traditional method of finding your dream career may involve an art or craft you enjoyed as a kid. Did you always love baking? Have you always loved taking photos, rendering professional quality images for friends and family?  These may be paths to consider… but is doing what you love thebest means of developing a career?


Steve Jobs spoke at a Stanford University commencement. One of his main messages was, “love what you do.” This quote is often confused with the phrase “do what you love,” which is a different concept.


Love what you do means you love going to work every day and love the traits attached to the job and exercising the skills to succeed in that job. For example, if you work at a restaurant, perhaps you have worked your way up from dishwasher to chef because you enjoy the company you work for and learned the skills to excel in that position.


Do what you love means turning your passion into a career of your choice. If you love cooking, for example, it would mean turning yourself into a full-time chef. You may love cooking, but people may not love your food.


“Do what you love” is misleading because people tend to jump into a career based on a passion rather than a skillset.


Sometimes, your passion is not what you are best at, but it is a hobby you can partake in during your free time. The best way to develop a career around your skillset is to determine the areas in which you excel.


Growing up exposed you to different subjects and curriculums of your school systems. You learned topics such as math, science, and English and participated in courses such as gym or auto shop. But going back to those days, do you remember a class or a subject you loved learning about?


Were there any courses or topics that came easily to you?




Discovering Your Potential

Did you find yourself scoring an A+ on every math test? Or did you do well in chemistry and biology? Excel in track and field? Or did you find yourself a natural at fixing cars and diagnosing problems? Whatever it might be, the skill that comes easiest to you is most likely the area in which your destined career is present.


Let’s say you were good at math, and calculus came easy to you. A good career choice could be something in the math sector such as an engineer or an accountant. Or let’s say you were good at biology. A good career choice could be something in the health sector such as a biochemist or a pharmacist. 


Doing what you’re good at makes the learning process a hundred times faster. It will help you succeed in your field since the topics come easily to you.


On the flip side, there are people who struggled and found school to be more difficult compared to others. It’s completely normal if the school system wasn’t designed for you. Not everyone was born with natural gifts in the academic sector. Don’t feel discouraged if you’re still in search of your dream career.


The world has millions of activities, jobs, and careers for people to pursue. Volunteer at local places and search for jobs that might excite you. Sometimes, you find yourself in the middle of nowhere. And sometimes, in the middle of nowhere, you find yourself.


Click to Tweet: Sometimes, you find yourself in the middle of nowhere. And sometimes, in the middle of nowhere, you find yourself.


Connecting Your Dream Career With An Education


The purpose of identifying your destined career is to see the type of education you need in order to be successful. Some careers need a formalized approach to education while others are best served from an online course. This section will help you compare online education vs traditional education in the spirit of what you desire to pursue.


If you desire to pursue a form of education requiring a form of licensing or certification, the best direction might be traditional education. These jobs include areas such as engineers, doctors, plumbers, electricians, and lawyers.


Keep in mind that not all these degrees have a license. If you need further clarification, do a quick Google search to identify the type of certification needed.


To get you started, here are a few licenses required to perform a given job:


  • Engineers must get a PE license to practice engineering work.
  • Physicians must obtain a CPSO certificate to practice medicine or engage in medical training.
  • Plumbers must have a Certificate of Qualification to work in the field.
  • Lawyers must pass a state or provincial bar exam to practice law in their respected state or province.

 

The only way to get these licenses would be through a traditional education system.


On the flip side, the career you desire might not require a traditional educational path. Jobs such as a graphic designer or marketer can operate without a formalized license. Looking at the benefits and downsides of online education vs traditional education will help you see which one is best suited for you.


The Benefits of Online Education


As mentioned earlier, online education is available from the comfort of your own home. You can turn on your computer, log onto a website, and watch classes at your own discretion. You can also learn at your own pace, which allows you to break up your learning segments throughout the day.


If you don’t understand something in the course, you can always re-watch the class until it sticks. You learn at your own pace, so the speed at which you complete the course is up to you.


Learning online also has the benefit of being more cost-effective as compared to traditional education. Although online courses can range anywhere from $10 to $5,000, you will save much more compared to traditional methods of teaching. The content can guide you better toward success if the teacher is a specialist or an expert in their niche. More on this later.


The Downsides of Online Education

 

Online education is different as compared to the traditional method of learning. No one is forcing you to submit assignments, nor are they forcing you to hand in work on time or get tasks completed. This process works well for those who are self-disciplined, but if you are not able to motivate yourself, online learning can be difficult. The sole purpose behind your learning should come from your own motivation and a burning desire to better yourself. 


When learning from home, you can also get distracted. Distractions are normal and are common when social media and video games are at your fingertips. You should turn off your phone or keep your phone for emergency calls from family members and loved ones to ensure you stay focused on getting work done.


What To Look For In An Online Courses


If you do a quick Google search for “online courses,” 5.8 billion results are waiting at your fingertips. The demand for online courses has skyrocketed in the past years, making it one of the most popular ways for people all around the world to receive an education.


In fact, the market value for online courses will reach $325 billion by 2025. So the question begins, which online course should you pick?


One of the key factors in determining which online course to pick is the teacher of that course.


Teacher Selection


There are two types of people who create online courses. The first is someone who has created the course with the intent to share knowledge. The second is someone who has created a course with the sole purpose to profit. 


The best courses, by far, are by people who have already achieved abundant amounts of success in their niche. Let’s say you go online and find a course constructed by Dan Lok. One of the best ways to see if Dan is a suitable teacher is by doing a quick Google search to look at his track record and his history in the industry. You can take a look at his Instagram, Twitter, LinkedIn, and Facebook to see more about the type of person he is. Or you can take a look at his YouTube channel to see how educated and knowledgeable he is on subjects such as closing or copywriting.


It’s also practical to learn from someone who shares similar morals and attributes. The personality of your mentor will reflect on you as a result. So if you’re someone determined to be respectful and to show courteous manners, then ensure your teacher possesses these similar traits.

The Benefits of Traditional Education


As mentioned before, the key difference between online education vs traditional education comes from the level of qualification required to pursue the job. There are many factors that make traditional education best suited to many people.


Traditional education consists of a classroom or lecture hall led by a teacher. The teacher writes notes and goes over problems on the board. Students are allowed to ask questions if they’re confused or to see the teacher after class for extra help. Most institutions also offer clubs and organizations in your respective niche where like-minded individuals can connect and excel in their academic journey.


This type of learning is best suited for people who need an extra push to kickstart their careers. Teachers will hold you accountable for homework as well as assignments to ensure your learning is optimal. You’ll also have assignments, labs, and projects, which put your learnings to the test. Due to the format of this education, you will pay a much higher fee compared to an online education.

The Downsides of Traditional Education


While traditional education has its perks. There are two main factors that might make you sway from attending a school. The first factor is the rate at which you understand information. Whether you understand the content or not, the professor will continue to teach regardless of where you stand. Falling behind in a course can become imminent, so you have to stay on top of your readings and ensure you understand the content, ultimately, forcing you to learn independently. 


The second factor is a “bad teacher.” If you’ve ever been through university and have pursued a degree, you can relate when we say there are some instructors who don’t care or who can’t teach. This issue is something that you can’t predict or research, but there are ways in which you can work around it.



What To Look For In Traditional Education

If you do a quick Google search for “colleges and universities,” you’ll find hundreds of thousands of different traditional educational environments. Within those colleges and universities, you have hundreds of thousands of programs. Once you have picked your university and program, you have an array of courses from which to pick. It’s important to avoid the downsides of traditional education by finding out about your teacher. 

Teacher selection

There are two types of professors in universities: ones who take pride in educating their students and others who focus on getting through their day with the least effort. The best way to combat this dilemma is by looking at the program as a whole.


You can also learn more about which courses and which teachers to take by looking at reviews from alumni who graduated from the program you plan on pursuing. This communication allows you to get the gist of the outcome you can expect to see. 


Let’s go over a step-by-step example to see how you can choose the best university or college for your education.


Finding A School


Let’s say you wanted to become an architect. Your first step is to look for universities in your local area. If you live in New York, for example, type in “architect program New York” in Google search and see what pops up. You will see schools such as Cornell University and Columbia University. You don’t have to enroll in your local area, so feel free to explore other countries and areas that have a reputable program.


Select a school of your choice. Look at reviews from alumni or students currently enrolled in the program. You can even check on LinkedIn for people who graduated from the program. Send them a message, asking about the quality of education. Try to refrain from spamming since people are busy with their day-to-day lives. You could even call the institute and ask for a tour to explore their campus.


On top of this, you can check out their website to see the courses taught in their program. Compare the content throughout many universities to see if their lessons are adequate to be successful.


Keep in mind that most universities require an application process to enroll. In most cases, they require a high school transcript. If you’ve already attended a college, then you will also need your college transcript. Always consult with the institution for required documents and paperwork.

Information Skipped Out In Educational Classes


Whether you enroll in an online course or pursue a path in traditional education, there will always be areas in which topics are not covered. These areas, as a matter of fact, are some of the most important on your journey to financial success.


Let’s say you try the path of online courses to monetize your freelancing career. You still have to learn the business aspect of your niche and to understand ways of marketing yourself. You also have to understand how to close deals and to attract new clients for business.


You have to understand the basics of building a social media platform while understanding how you can have an organized system for generating consistent content. The world of business is a uniquely different platform not discussed in most online courses.


If you try the path of traditional education, you have to be mindful of your expenses and understand how to invest in your future. Also, you have to be able to create many flows of income rather than one source. Again, these things are not mentioned in traditional practices.


So what if there was a way for you to learn powerful strategies of growing your business? And to develop many streams of income? Better yet, what if you could learn from someone who already has a proven track record of accumulating wealth?


Online Education vs Traditional Education: Advancing Your Career


Dan Lok has a goal to educate one million people in this world. He wants to takeyou under his wing to achieve financial wonders. If you check on Clarity.FM, you will see that Dan charges $166.67 for one minute of his time. His expertise equates to $10,000 an hour for private consulting.


Instead of private coaching sessions, Sifu Dan has created digital courses on everything you need to be successful in the business world. There are courses on sales, money, finances, wealth, and business. There are also powerful classes on how to master the art of copywriting as well as closing deals over the phone, so you can have a head start over everyone else in your industry.



These courses are not designed with a preference for online education vs traditional education, but for the mindset of pursuing wealth and obtaining success. For example, one of Dan’s favorites, “Public Speaking Secrets” explores powerful methods of controlling a crowd with magical hooks to keep your audiences on the edge of their seats. This strategy is powerful to use in the workplace or as a freelancer in pursuit of monetization.


Remember, you can be successful with a college degree, but you still need to be well-equipped with skills far beyond those learned in school itself.


Dan’s courses range across many categories, so feel free to look through them to see which one is best suited for you. He even has a program showing you the exact steps of how he grew his YouTube channel to 2 million subscribers.


Getting Started


We are strong advocates for hard work and commitment. These courses have information with the mindset of helping you succeed. If you plan on attending, come prepared with a pen and paper to take notes. Remember, you are in control of your future. Your future self will thank you for the decisions you made today.


So if you’re ready to enroll and to embark on your financial journey, click here to get started.