Learning to be an entrepreneur
Is the life of an entrepreneur for everyone? Probably not, as it can be rather demanding and it’s hard to imagine living that life unless you have a passion for business or for the service or product you choose.
The next question involves whether you can learn to be an entrepreneur. Some people may want to do it, but they really aren’t prepared to make a successful go of it.
The subject of entrepreneurship is becoming very popular at business schools as this notion is being tested.
Twenty years ago teaching people how to start their own businesses was a sideshow at B-schools, of scant interest to future consultants and Wall Streeters. Today entrepreneurship education is everywhere. More than two-thirds of U.S. colleges and universities — well over 2,000, up from 200 in the 1970s — are teaching it, and they offer it to all comers: social workers, farmers, and even musicians. The field is thriving, but have we figured out yet the best way to teach this stuff? If not, are we at least getting better at it? And can you even teach someone to be an entrepreneur?
This makes perfect sense, as many entrepreneurs have a passion for their product but have little experience running a business, while many business professionals can’t grasp some of the risk assessments that entrepreneurs make every day. It’s amazing how spending your own money focuses the mind!
What’s taught in these courses?
By developing in students the proper attitude toward risk, for instance. Entrepreneurship isn’t about the love of living on the edge; that’s pure myth. “You’re all about de-risking your idea,” says Fairbrothers. He means one, identifying, unblinkingly, what could go wrong; and two, taking whatever steps necessary to slash the odds that it will. You do that by relentless learning — about your market, your customers, your competitors, and if you’re truly new at this, about the nuts and bolts of business.
If you take a close look at this proposition, you would thing that every business student should be required to take a course in entrepreneurship. Understanding risk is critical to any endeavor, and this notion should be drilled into every person in your organization, whether you’re simply a manager or an entrepreneur.
Posted in: Your Business, Your Career, Your Team
Tags: entrepreneurs, entrepreneurship