Learning Entrepreneurship
by Leeia Ladipoh on January 10th, 2008
You might think that we are still in a bit of a pioneer era as far as starting your own business goes. In fact, with the Internet age, this is actually truer than it was a decade ago. Entrepreneurs are defined by the fact that they believe and usually can accomplish something better than the next person, maybe in a way that has not been done before. For this reason, entrepreneurs are usually strong personalities who prefer to go it alone.
Still, even entrepreneurs need some assistance when it comes to running a good business, no matter how capable an individual you are. In part, it’s standing on the shoulders of giants; there is a lot to be learned from those who went ahead of you and started their own businesses, forming workable theories and platforms along the way.
There are a couple of different ways that you can learn the art of successful entrepreneurship, two of the best being through mentorship and formal training through a college or university. Entrepreneurship resources are also available online – Entreprenuer.com has tons of helpful resources and ideas, including articles and tips on related issues such as marketing, sales and finance.
In this article, we will take a look at what formal education has to offer the aspiring entrepreneur. There are five different areas in which faculties of entrepreneurship will develop in individual students:
Innovation: The seed of any entrepreneur. In courses which develop the innovative characteristic, students are encouraged to sit and brainstorm different ideas that could be workable in terms of a business.
Validation: Measuring the marketplace in order to determine if a given innovation is feasible. This step also usually includes competitive analysis.
Foundations: Once the idea has been validated and critically evaluated, including a determination of competitive companies and their strategies, the entrepreneur must be able to form a strategy that will start the business and set it apart from others. Foundations courses take a look at ways to do this.
Business Plan: Hand in hand with the formal strategy comes the business plan, in which students are introduced to ways in which they can identify their target demographic, conversion strategies, and so on. You can also expect to explore several different business models.
Execution and Launch: Finally, the practical aspects of beginning a business are also explored at the educational level. Everything from a basic understanding of tax and employment laws may fall under this category, so be ready for a very broad range of courses.
Almost every major university in the United States includes courses which can help to develop and hone the skills of entrepreneurs. The information put forward at this level comes in handy not just at the entry level, but for entrepreneurs at all stages of the business game.