For a growing economy, Entrepreneurs are regarded as national assets. They play a vital role in the country’s economic growth because when they build a business, they contribute to all aspects of the economy. Recognizing their importance has led to a boost in entrepreneurship development efforts by the governments and significant growth in enterprise education.
For several years it was believed that entrepreneurs are born, not made. But over the years and many researches later there has been a fundamental shift in this viewpoint. Entrepreneurship is more of a mindset than a skill that you are born with. A skill can be taught, talent can be refined, but it’s the ambition and resolve that deeply drives a successful entrepreneur. The focus of any entrepreneurship program should be more on building an entrepreneurial mindset and giving the aspiring entrepreneurs the right set of tools.
Entrepreneurship education gives you a foundation and enables you to grow as an entrepreneur. So if you aim to launch your business or even join your family business, doing a specialized program in entrepreneurship would be a great start. From the variety of programs available in India and abroad, it’s essential you choose the best fit for you. For an enriched learning experience, here’s what you should expect from an entrepreneurship course –
Focus on Effectual Logic
Among the new methodologies that redefined entrepreneurship education, the most prominent one is Effectual Logic or Effectual Thinking. It suggests that entrepreneurs develop their business based on what they can create with the set of resources (or ‘means’) they have. So rather than setting goals and then look for resources to achieve them, Effectual Logic says that entrepreneurs should determine goals according to resources already in their possession. This was a real paradigm shift in entrepreneurship education. All leading universities across the world have joined the movement and structured their program based on this new way of thinking. So when you evaluate the course, do ensure it emphasizes on Effectual Logic. It is the main ingredient that differentiates an MBA program from an Entrepreneurship Program.
Experiential Learning or ‘learning by doing’, allows participants to experience entrepreneurial activities in practice and learn from real-life scenarios. Entrepreneurship can’t be learned through exams and textbooks; it differs from other courses, to understand entrepreneurship its important students are engaged in entrepreneurial processes to gain more practical knowledge which also emphasizes learning at an individual level.
The program design and delivery should present a strong connection to the business world, facilitate experiential learning, value peer to peer dialogue and stimulate individual reflection of the experience. You can evaluate the program by checking out the activities conducted on campus or even by interacting with the academicians of the colleges.
Help You Recognize Your Passion and Find Your “Why”.
An ideal business is the one which synergizes your passion and skillsets, but to identify that might seem like a daunting task. This is when an entrepreneurship program should come to your rescue. Many entrepreneurship development institutes in India and across the globe have started appreciating the importance of passion in business and worked on creating thought-provoking and exploratory environment for students where they can examine their personal and professional self.
Starting a business which is driven by passion does not make the hindrances go away, but will make it easy to overcome. So find your passion and make it work!!
“Networking is not about just connecting people. It’s about connecting people with people, people with ideas, and people with opportunities.”
– Michele Jennae
A professional network you build during an entrepreneurship program should extend beyond your peers. The program should give you opportunities to interact with academicians, business leaders across sectors, alumni and other professionals. It’s motivating for any entrepreneur to talk to like minded people and gain knowledge from their experience. Through these networks, you can also explore opportunities like partnership, funding or even build a vendor base. Always remember, an entrepreneur with a supportive network is more equipped to overcome business problems and achieve success for its startup. While evaluating the program, try to get information about the alumni and their current businesses.
Exposure to New Age Business Practices Along With Global Business Knowledge
Today companies are becoming global right from the inception. With portals that help you scout vendors across the globe, ease of interaction with consumers and the booming gig economy, running a business in this innovative setup has become a whole new ball game. An entrepreneur should be well aware of the new age business practices and should aim at creating a global company. The breakneck pace of technology development and digital evolution has changed the way business is operated. An entrepreneurship development programme should be able to help their students in becoming part of this new age business setup.