How crucial is a highly educated population to budding entrepreneurs?
Many business owners choose not to pursue the education route, although there’s no requirement for them to do so. However, it’s a useful way to progress the understanding of the inner workings of a business, and can make them a well educated and aware entrepreneur in the long run.
Is entrepreneurial education really important? Can it avoid the failure of a start-up? Well there are two perspectives to that and both are really important.
The first one is the importance of entrepreneurial education. While it is important that entrepreneurs learn through ‘learn-practice-try-fail (LESS)-repeat’, on the other hand one can definitely create an entrepreneurship learning program that has a great impact on the start-ups and growth-stage entrepreneurs. It gives them motivation, enhance entrepreneurial skills, business skills and performance.
One can always think differently but entrepreneurial education can take you forward in the direction of impacting differently. It teaches you time management, communication, networking, bonding and brushes crucial skills that an entrepreneur ought to hold.
Numerous people start numerous businesses every other day , but only a few sustain due to the lack of these important qualities which can come from the required education, barring a few exceptions. Interestingly after impacting regular curriculum at engineering and management education, schools are now actively adapting it as well.
The second one is intuition or the inbuilt entrepreneurial skills that need no certification to prove it. Ideas are many, but great ideas are scarce. No one can give them to anyone. The real entrepreneurs find them themselves.
They can come from personal need or experience. They can come from a gap that they have identified. These are not novel ideas always but these are the ideas that make them stand apart. These skills are something that are not taught in any school , but this runs in the blood of the born entrepreneurs. They have the desire, the passion, motivation and all those qualities which makes them impact the society and the market differently.
So the whole idea is to keep evolving and survive in a competitive global marketplace, whether it comes intuitively or by taking up some sort of training/certification.