THE ENTREPRENEURSHIP SCHOOL

I’ve always toyed with entrepreneurship ideas.

I’ve tried some out with a measure of success (and equal measure of failure) while others have just lingered in my mind.

I often note down ideas that cross my mind on my phone, notepad app… and it’s been helpful.

Remember that ideas ‘cross our minds’

They don’t stay there, so why not take time and note them (if you can).

But even as we note these ideas down, why don’t we think of converting them into real existing businesses?

Why not try them out, fail, learn and redo with the benefit of hindsight?

Which brings me to a thought I’ve entertained for a while – an entrepreneurship school.

ENTREPRENEURSHIP

I’m just from a meeting of scholars, entrepreneurs and other stakeholders where the discussion gravitated around social entrepreneurship.

Social entrepreneurship is about businesses whose motives are not primarily profit but solving a societal problem.

‘All businesses are built on solving problems (at least most)’…you’d say.

But for many businesses, the profit motive features the highest on their list of priorities.

A social enterprise still has the profit motive but what’s of greatest priority is solving a problem in the community (especially communities in developing nations) – water access, lower energy costs, affordable healthcare, waste management – to name but a few.

Now theoretical knowledge about social entrepreneurship is out there.?

But what can we do with it?

What if we consider a vocational centre where young people come up with business ideas, are taken through the ropes of entrepreneurship by established business people and over a period of time develop products, build marketing strategy, penetrate the market and build business?

I know, I know we’re all thinking of a business incubation here.

But this is more than an incubation.

It’s about taking prospects through a curriculum designed with the help of industry captains.

For half the time, students interact with the curriculum through group work, presentations, discussions etc.

For the other half of the time, the students are encouraged to focus on a business idea, use design thinking models to develop it, pitch it to business leaders, create products and services and venture out.

Students are encouraged to be bold and test business ideas in the market.

They are encouraged to fail but fail fast.

They are also encouraged to learn from what the market informs them about their products and services.

So after 6 months, a year or two of product development, market indulgence and iteration, the student graduates not only with a certificate but also with a running business.

I think entrepreneurship (especially in universities and colleges) needs to be rethought.

Now this is not the blueprint for a new approach to entrepreneurship courses in college but just a nudge to those studying and teaching entrepreneurship to have a more hands on approach.

There’s nothing as good as helping a graduate in entrepreneurship leave college with a running business.

That’s the greatest gift you could give such a graduate.

Originally posted on cleannovate blog