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Entrepreneurship Education – Creating Entrepreneurs for the Next Decade

Many aspiring entrepreneurs aspire to become someone like Bill Gates or Steve Jobs; either to become famous, to make more money, or sometimes just for the fun of being an entrepreneur. Although millions of us are startups (or at least we think of startups), the shocking truth is that only 5 to 8 percent of us are able to turn our startups into a scalable business.

The most obvious reason entrepreneurs give for their failure is to say, “Not everyone can be like Bill Gates or Mark Zuckerberg.” It’s sad to see entrepreneurs give up on their idea too soon, but can this startup mortality rate be reduced? I think it can be.

If entrepreneurs are given the proper business education, we can have more successful businesses around us that not only make money for their founders but also solve some of the complex problems in our society.

Just as Vidal Sassoon was born to become a hairdresser and Sachin Tendulkar was born to play cricket, similarly some people are born to become entrepreneurs. Those who aspire to follow that path should consider business education as a good starting point on their entrepreneurial journey.

Not everyone can become an entrepreneur and one of the best ways to test your abilities is by reading many entrepreneur interviews. This will not only inspire you, but it will give you many real-time problems that an entrepreneur faces. This will give you an opportunity to judge if you have it in you to succeed in those challenges.

Taking inspiration from successful entrepreneurs and business leaders is good, but starting a business to be like them is wrong. You need to understand that market conditions, customer mindsets and demand have changed dramatically in the last 10 years. Therefore, if we want to create entrepreneurs for the next decade who are going to solve complex problems of the 21st century, they must be provided with the proper entrepreneurial education.

I firmly believe that business skills and attitudes can be learned. By pursuing business education, potential startups not only learn everything it takes to start a business, but it also gives them the tools and answers to do so.

Recently at a conference I heard Vinod Khosla say, “Being an entrepreneur was and always will be HOT.”

If you aspire to become an entrepreneur, seek out business education as it will speed up the entrepreneurial process and help you refine your business and put your skills to good use.

Good luck!

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