Tim Chen, co-founder and CEO of the personal finance website NerdWallet and a self-made millionaire, tells CNBC Make It the best advice he has for someone wanting to start a business is to look beyond what you learned in school.
"The problem with it is it defines this narrow set of parameters by which you need to succeed," says Chen, who thinks the education can put too much importance on taking tests as opposed to students' ability to think creatively.
"I think this is fundamentally the reason why so many smart people get brainwashed into being terrible entrepreneurs and problem solvers," Chen adds.
School can be "the most terrible feedback loop in the world," the NerdWallet CEO says, because students may be trained to see success in terms of black and white on an exam instead of viewing failure as a learning opportunity.
"If you treat failure as just, 'Oh, that was interesting? Why didn't it work?' You will get better so quickly," Chen says.
However, if you're starting a business and you view every obstacle or setback like failing a test, Chen says you might think: "'This must mean I'm bad at something or this thing isn't solvable.' And then you just stop trying and you will definitely fail at that point."