Become a High-Performance CAPE Entrepreneurship Student
Key takeaways
§? CAPE Entrepreneurship was introduced to open career options for youths
§? The curriculum was designed to deal with the high employment and other economic challenges the small Caribbean islands face
§? Students learn how mindset change can assist in opportunity identification
§? Later, you will learn about successful business modelling
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If you are a student studying CAPE Entrepreneurship or planning to do so, you have made one of the best career decisions in life. Entrepreneurship is one of the fastest-growing areas in business and applies to all aspects of your life. Successful entrepreneurs profoundly change the world; you can, too, like no other field of study. However, it takes a different approach to develop the competencies of an entrepreneurial student.
The Caribbean Examinations Council (CXC) identified some of the economic challenges endemic to Caribbean economies. According to CXC, "In developing this syllabus, consideration was given to the relatively high unemployment rate, constraints on job creation, the imperatives of globalisation in the region, and the need to inculcate the spirit of entrepreneurism." Infusing entrepreneurship into the curriculum, CXC wanted to tackle a significant obstacle to growth by starting with the youth and giving them more options.
CAPE syllabus
The main goals of the curriculum are to explain who an entrepreneur is and how these mindsets are structured. These venture creators have a unique way of spotting opportunities, and students are asked to interview a successful one to get an insider's view. Finally, a core outcome is understanding the importance of a business model and the search for one that creates value.
A different approach is needed since teaching entrepreneurship differs from traditional subjects like mathematics. While math encourages creative problem-solving, unlike entrepreneurship, only one solution can limit the unlocking of opportunities. You will find this an interesting psychological approach instead of a logical one.
CAPE Entrepreneurship comprises two units: Entrepreneurship theory and Entrepreneurship practice. Each unit has three modules, with one scheduled to be taught during the school term. You should download the syllabus and study it. I have found it well-structured, and it explains why entrepreneurship is a relevant subject and how educators can approach it.
The first module in the first unit is a foundational concept—the entrepreneurial mindset. The second module is the entrepreneurial process, and the third is creativity and innovation. In the second unit, the essentials of business ownership, new venture planning and creation, and managing and growing your venture cover the upscaling issues. ?
Entrepreneurship theory unit
As a student, you are required to explore how entrepreneurs think and act. The entrepreneurial mindset module lets you understand how these unique individuals create value and take risks. Seek out a real-world entrepreneur and design an interview to capture their story of challenges and how they overcame them.
In the second module , the entrepreneurial process covers entrepreneurs' approach to generating and refining ideas to determine their market acceptance. As a student, you will be asked to create ideas that solve problems or identify pain points among individuals and organisations. You will find out that the process is a method of iteration—back and forth, zig and zag—more like experimenting.
The next module supports idea generation and validation. You will learn that not all ideas are good—you must kiss many frogs before you find a prince! Creativity and innovation drive value creation, separating entrepreneurs from their lower-form, traditional businessperson.
Entrepreneurship practice
In the first module, Essentials of Business Ownership, you will learn about the many legal forms of business, their advantages and disadvantages, and tax and liability implications. We at COSTAATT (Disclosure: I am a lecturer at the college) left this topic for a later course on venture creation. The New Venture Planning and Creation module covers a feasibility analysis and business model development. You will discover that new entrepreneurs are searching for a viable model for revenue generation, cost description, and risk management. ?Look to your environment for examples of business success and try to understand why. Switch your mindset from a consumer to a student of analysis.
After completing that module , you will discover the importance of managing and growing the venture to progress beyond start-up. Your teacher will tell you that there are two overarching issues in entrepreneurship—start-up and scale-up. There should be a debate in class about which is more important. Beware: this might be similar to a chicken and egg argument!
Scaling a business requires a different mindset from starting the venture, and you will find out that some entrepreneurs are not good at transitioning the company on a growth path. Some often falter and are replaced by managers who bring formality and structure to a chaotic organisation. Frequently, this brings red tape, and the firm loses its entrepreneurial spirit.
Furthering your studies ???????????????
If you pursue advanced qualifications in entrepreneurship (like COSTAATT's BBA Management and Entrepreneurship), you will learn more about developing and implementing a business plan. You may also learn about the three big blind spots in management: family business, social entrepreneurship and intrapreneurship. These three courses will open your mind to the expanse of entrepreneurship and help you understand why entrepreneurs should be our heroes.
A true entrepreneurial student will go beyond academics and try to implement some learning. What is stopping you from starting your venture? You can start a side hustle and make some extra money. This act could take the weight off your parent's back. To be a solopreneur as a kid is easier now than ever before. You have a home, a computer, and an internet connection; these are the foundation of a service business. There is also Zoom, which is free for the basic version. As a teenpreneur, you can use AI to assist in your research.
There are many examples of college students who became entrepreneurs . One of the most famous examples is Michael Dell. He started a business in his dorm room when he spotted an opportunity for customised PCs and would build them more inexpensively than at the retail outlets. He created a direct-to-customer market.
If you want to be an ace entrepreneurial student and create a different career path, tell the world you want to become an entrepreneur and live life to the fullest. ?Entrepreneurship is one way to earn unlimited income and reach your full potential. I wish you good luck with your dream.
?Sajjad is an SME and Family Business Advisor who supports entrepreneurs in scaling their ventures. In his spare time in Trinidad and Tobago, he tries to produce organic tropical fruits and vegetables and practise sustainable farming in his home garden.
You can contact him at [email protected] or www.entrepreneurtnt.com