As of 2017 there are nearly 582 million entrepreneurs in the world and counting. From driving innovation to creating million jobs across nations, entrepreneurs, through the kaleidoscope of their vision, are making the world a better place to live in. So, how do you think are they doing it? Are entrepreneurs a different breed of people who have entrepreneurial qualities ingrained in them since birth or have they learnt entrepreneurship in school?

Since ages, scholars have argued whether or not entrepreneurship can be taught as a model just like engineering, medicine and law. Business schools have tried mixing up theory, research and practicality to come up with courses that can be taught to budding entrepreneurs. But to be able to debunk the answer, we need to broaden out mindset and alter our question to, what is the best approach to train aspiring entrepreneurs? The answer to this question will help successful entrepreneurs pave a way for aspirants wanting to make it big in this field.

Read on…

Things that can and cannot be taught in entrepreneurship

Joseph Schumpeter was an Australian political economist. Much before the world tasted entrepreneurship; Schumpeter gave a theory on what entrepreneurship is. According to his theory, he believed that creativity and innovation are the two most important aspects of a successful entrepreneurship. He also strongly argued that knowledge is a necessary catalyst to boost entrepreneurs in the right direction. In many sense entrepreneurship is like giving birth to a baby and nurturing it to a stage till it can be set free. There are somethings that come to you naturally and then there are a few things you need to learn. Let’s see what they are:

1. The moment an idea is conceived

“Every great thing starts with an idea, followed by a doubt and finally a resolve to abandon or pursue. Victory is a treacherous journey,” said Dane Cook.

True to this saying, entrepreneurship starts with an idea. This is something no one B-school can teach you. An idea that is conceived in the grey matters of your brain is unique to you.

Also read: Curiosity makes a good entrepreneur great!

2. Setting out a road map for the business plan

Once you have conceived an idea, the next step is laying out a proper business plan. There are multiple factors you need to look at while setting up the stage for your business. You need funding to begin with. This is something which you can take a lesson or two on. As a newbie in the market, you need to be aware of various funding options to start a viable business. Not only funding but other aspects of setting up a business like registering your business, getting licenses and permits, etc. can be learnt better when you are thrown into that environment. Many B-schools have great entrepreneurship programmes you can enroll in.

But when it comes to managing employees and working with a team, motivating them and constantly keeping them engaged, you need to reinvent your thinking time and again and that is something no one can teach you. To be able to successfully run a business, you need to adopt a critical way of thinking; understand what is best for your business at what point of time. All these ideas and innovation comes from within!

Also read: 3 mistakes to avoid when growing your business

Entrepreneurship starts with an idea. This is something no one B-school can teach you. An idea that is conceived in the grey matters of your brain is unique to you.

3. Letting your business grow

Now that you have vested all your efforts in bringing to this world your viable business idea, you need to nurture it till it can independently take care of itself. Nurturing a full-fledged business requires a lot of grit and determination and here is where the real test is- creativity. As an entrepreneur, you need to be able to constantly reimagine ideas and implement them in order for the business to grow. Just as a child has different requirements in different stages of their life, a company needs a constant flow of imagination and creativity to keep growing. And creativity and re-imagination can’t be taught. It comes from within your entrepreneurial mind!

What do you think? Let me know in the comments section below.

Also read: 5 essential things to remember as you grow your business

Image courtesy: shutterstock.com

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