Can entrepreneurship be taught: Lessons from 30 founders in 3 days

Can entrepreneurship be taught?

It’s a tricky question.

Do founders need training, though?

Absolutely.

And the last three days reminded me of just how valuable it can be, as I ran a bootcamp with a group of 30 brilliant founders.

We spent the first day reviewing the fundamentals of their business and making sure they have the customer insights they need to get customers and scale.

We spent the second day looking into their numbers, ensuring that what they are working on is not only desirable but also financially viable.

And we spent today co-constructing powerful narratives for them to be able to communicate effectively and sell the dream to people around them.

The feedback was overwhelmingly positive. I was really moved by how useful they found it.

Some were at an earlier stage, and for them, a lot of this was new.

Others were post-revenue and might have heard some of the things we talked about before.

But all of them universally benefited from:

• Taking the time out of their insane founder schedules to have time to think,
• Meeting other founders and getting others’ perspectives on their work,
• Learning new frameworks or hearing new approaches to something they already know.

While we can debate if “entrepreneurialism” can be taught, entrepreneurship training is extremely valuable if done right.

You probably know, it is estimated that over 90% of businesses fail.

The sad truth is that there is no “winning formula” in the sense that no one can really guarantee success, which makes it impossible to teach people to build a successful business.

But!

We know really well why businesses fail. And there are quite a few things founders can do to avoid the common pitfalls.

I always start the sessions like this by discussing why startups fail. Then we center the session around the practices that can lead to better outcomes. Customer development done right, unit economics calculated properly, and coherent and engaging storytelling aligned with the audience's expectations.

Going through training sessions like this can significantly improve business outcomes. It can prevent founders from making common mistakes and help save them a lot of time, and money.

If you’re a founder, I encourage you to seek out training opportunities—whether one-on-one or in groups. Investing in your growth could make all the difference.

I felt inspired by the founders’ responses to share this with you this week.?

Back to our one-startup-a-week deal next week, I’ve got a great lineup for you until the end of the year!

Stay tuned, and I’ll see you next Friday for another edition of Small Business Fridays,

Lisa