Bryan Legend seeks to reset the horizon line for entrepreneurs through his rags-to-riches story.
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The value versus cost of a college degree for younger generations continues to be a hot topic of discussion in the higher education and business sectors. While the surveys cited in Harvard Business Review i Inside Ed. superior Suggesting overall satisfaction with university learning among students, almost two-thirds of respondents agreed that higher education was not worth the cost at current levels.
Add to the mix the intrigue of entrepreneurs past and present such as Steve Jobs, Bill Gates, Mark Zuckerberg and others. find success without a college degree, and the feeling that college is a necessary precursor to business success is changing. Many of the younger generations are weighing the costswhich is causing a growing number to consider dropping out of college to pursue their entrepreneurial dreams.
To gain more insight into the entrepreneurial mindset of those who have skipped the traditional educational path for entrepreneurial aspirations, I had the opportunity to interview Bryan Legend, entrepreneur and CEO of ethics. 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 his appointment Money Central Technology Leader of the Year 2021.
Like a growing number of other successful entrepreneurs, Legend doesn’t have a college degree in his pocket. But, for him, education can take many forms. “It’s time to start addressing the need for educational qualifications on a case-by-case basis,” he says. “If I’m going to see a doctor, I certainly expect him to have a college degree, but many career paths available to young people today don’t require the stress 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 achieve their dreams. Below is a condensed account of our conversation focusing on the role that a less traditional upbringing has played in shaping his success.
Rod Berger: Bryan, can you share a little bit about the backstory that got you to where you are on your current journey?
Bryan Legend: My story is a typical rags to riches scenario. I’m Australian and grew up with little. I dropped out of high school three years before graduation and entered the workforce fairly early. While others might have seen my lack of a high school diploma or university certificate (degree) as a disadvantage, it hasn’t held me back at all.
It gave me an appetite that most others couldn’t match. I decided to push myself as hard as possible and see how far I could go. My first jobs were in sales and I discovered something new about myself doing those jobs. It turned out that I had a special gift for negotiation, and this gift has been largely responsible for the success of my business.
I have started several successful startups throughout my career. I founded TWILX, a digital advertising company, and became one of the pioneers in the search engine optimization (SEO), social media marketing (SMM), and search engine marketing (SEM) space.
Eventually, I took advantage of my love of technology and innovation and my strong desire to make a lot of money and got into cryptocurrency in the early stages. That trip led me to Safuu, which has been my most successful adventure so far.
Berger: The cryptocurrency and decentralized finance space has seen an explosion of interest in recent years, not to mention a fair amount of speculation. Share a little about why you decided to throw your hat in the ring.
Caption: Well, cryptocurrency is a fascinating phenomenon of how technology has overtaken the traditional banking system and how it is at the forefront of challenging fiat-based government. The relevance of this technology was what appealed to me more than anything else. As an entrepreneur, I’ve always wanted to be in the center of the action, and cryptocurrency seemed to be where the action was.
A credible criticism of the crypto space is the unsustainability of many blockchain projects that have been flagged. Safuu is my solution to this singular problem.
Safuu is short for Sustainable Asset Fund for Universal Users. It is a DeFi protocol that uses blockchain technology to automatically distribute established interest payments using cryptocurrency. We have designed it with innovative concepts that ensure the long-term sustainability and profitability of the platform.
Auto-staking and auto-composition are integrated through rebasing so that the supply of circulating tokens automatically increases or decreases according to fluctuations in the price of a token. This sustainable rollover mechanism not only offers the highest annual percentage yield (APY) in the market today, but also considers ways to remain profitable even as it heats up. This built-in mechanism is primarily 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 lost a high school diploma and a college degree ended up at the top of such a complex industry.
Caption: It’s not like there are many cryptocurrency-based certificates available at most universities [laughs]. The world is a great school. The Internet is loaded with information, and determination plays a bigger role in success than titles.
The best thing you get from school is literacy. After that, it really depends on the individual. Obviously, there are people who need to get degrees, but for entrepreneurs like me, it’s often more about street smarts, determination, and a healthy dose of self-belief.
Berger: How has your relationship with success changed over the course of your career? Did you start out aggressively to prove the establishment wrong, and if so, has your point of view changed over the years?
Caption: Most people are sold on hope and belief and nothing else. They believe that they will wake up one day and notice that everything has changed, including the environment around them. It’s like they imagine a big bag of cash sitting by the bed, waiting for them because they waited and believed.
This way of thinking is naive and far from the truth, but unfortunately many people today find themselves in this state of mind. I also had the same mindset before I woke up and understood that things will only change with 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, “Believing your belief will create the fact.” I live it daily, but I try to add actions to make those same beliefs come true.
Berger: You are the classic rags to riches story that many are intrigued by and driven to emulate. You also dropped out of school to carve your own path to success. What was the impetus behind such a strong decision to reverse the traditional educational model?
Caption: 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. Deep down, I felt destined for more. Through years of self-development, I discovered my talent in the business field within the sales and marketing sector. I have since applied these learnings and my skill set to the world of cryptocurrency, where I found my true passion for super success.
I knew that persistence would be the key to making it happen in order to achieve my goal of being truly successful. It’s not about how many times you get knocked down, it’s about how many times you get up and keep fighting with persistence. It’s about proving to myself and the world that success comes from within.
Berger: What would be your contribution to the abandonment debate? What advice would you give to people considering dropping out of school and going independent like you did?
Caption: 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 incredible.
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 start early and perhaps forgo some formal education.
Holding fast to the idea that formal education and degrees are the standard for success needs to be re-examined. However, demonizing degree-holding should certainly be avoided because success means different things to different people.
My main concern is for young people who cannot afford to go to school. I want them to realize that they have innate intelligence and that if they are determined, they can be even more successful than I am.
Learning comes in many forms and inside the trenches This is often where business-minded people make the most progress. Journeys like Legend’s act as a benchmark for those young people looking for inspiration to carve out their own paths as entrepreneurs. With a current net worth of over $26 million, Legend’s financial gains represent how tenacity and determination can lead to overcoming obstacles that lead to success.
For young people trying to determine the economic benefits of traditional and less traditional education, Legend’s story highlights the importance of hard work, regardless of 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.
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