Higher education as a pathway to entrepreneurship- exploring the connection

Our future university graduates are destined to deal with some of society’s most critical and pressing challenges. Entrepreneurship is the driving force of every thriving economy worldwide. Entrepreneurs have the potential to shape up the world by building versatile skill sets and fuel profitable businesses to contribute to an economic boom.

Looking back, it was one of the best decisions I ever made,” said Steve Jobs, describing his choice of dropping out of college, at his now-famous 2005 commencement speech at Stanford University. This presumably strikes terror in the heart of numerous parents who grow their children, instilling the importance of higher education. And that, their future success would surely include a college degree.

This impulse of leaving college experienced by entrepreneurial-bug bitten students seems more like a fantasy of la-la-land to me. One aspect of this idea is that when you are young and brimming with so many creative ideas, it looks tempting to write the script of your prosperous life. A lot of students find this a shortcut to dispense with the ho-hum college life and just cut to the chase. These students think they will end up being the founder of some wildly successful startup that will corner the whole freaking market.

Sometimes the risks might pay off, but the data says that it is the other way around: startups and businesses owned by highly educated individuals tend to score more sales.

So, What Holds the Truth?

Surely, entrepreneurship is lucrative, but how can one learn practical entrepreneur skills? How do we encourage our youth to go out and seek knowledge so they can make their mark on the world’s economy?

Dedicating more resources to the foundation of entrepreneurial environments within higher education can help foster innovation, progressive ideas, and equip students with the practical skills and knowledge to sail the choppy waters of entrepreneurship.

Why Entrepreneurship and Its Associated Skills Are Critical to Success

Unarguably, entrepreneurs are a valuable asset to any economy. The administration should nurture and cultivate them without creating extra hurdles for them to overcome. These ventures tend to have the power to shape the way a society lives and work, besides creating job opportunities and a thriving nation’s economy.

Our most eminent entrepreneurs possess very particular skill sets. They are all exceptional communicators who understand the power of branding. Their talent for scoring higher sales, business strategies, and art to handle their finances helps them not only to keep them afloat but to rise above the difficulties. These are the qualities that we all desire regardless of our choice of profession. But these skills can’t be mastered overnight -it takes a reasonable amount of time and in my opinion the right education to be a one-man-or-woman show.

So, it is wise to get started as early as possible.

Every type of career path needs proper training, be it an office manager, an accounts person, or a pilot. Being an entrepreneur is no different. The capabilities required to be an effective entrepreneur are not exclusive -they can be implemented in almost any field of work. Thus, entrepreneurial teaching, as part of the higher education program, can benefit every professional.

Entrepreneurialism In Education As It Stands

Many students are presented with the idea of business and entrepreneurship by their parents. It unquestionably needs a healthy amount of grit and persistence, ideal if acquired at a young age.

In the USA, small business management and entrepreneurship course or degree programs including Florida MBA programs have increased in number and diversity since 1990.

Historically a critical factor in propelling the economic wheel, it is now the fact that the majority of leading businesses in the US are less than twenty to thirty years old. This restoration is at the core of a wholesome economy.

On the other hand, in Europe, many of the topmost leading businesses have been in the fray for more than a century. If we want to light a fire under economic growth and job opportunities, it’s obvious we require a more comprehensive focus on entrepreneurship – and this begins by nourishing the abilities and aspirations of our young innovators.

Signs That Things Are Changing

Indeed, things are rapidly changing. A quick online research yields the manner of the entrepreneurial educational program– mostly directed at young individuals. And it makes total sense, because irrespective of their likelihood of becoming entrepreneurs, there are a lot of benefits to having a grounding in business know-how.

The challenge with entrepreneurship programs? As many of them are much rooted in academics, the focus can often be more towards higher grades rather than practical learning and mastering the art of creating a successful business. Ideally, we require the world’s top best successful entrepreneurs to be willing to share their success stories. We need the voices of real experience to go viral in public; These are the people whom we should invite to speak to the students of higher education institutions.

 However, the good positive aspect is that numerous universities are now opting towards a real-time actionable plan to teach the students entrepreneurial skills.

All credits to the internet, the hindrance to entry for setting up a digital business, is lesser than before. One can now establish an online business in like hours, without having to master some exceptional technical skills. There are numerous online training platforms to help you polish your skills needed to develop business and technology at home.

Self-study and grooming have never been easier than today, so what one can lack only in is the will and no other excuse. Likewise, this technology has made it even easier for universities to conduct online classes and introduce virtual study programs.

Final Words

The entrepreneurial skillset is mastered through real-time experience. To nourish our young entrepreneurs, we must strive to create an environment of innovation. Rome was not built overnight, and these reforms to the status quo in a few more ‘traditional’ schooling systems will not happen in a day.

It’s a step-by-step process, but we should encourage every individual, no matter which profession he or she belongs to, to opt for educational courses based on entrepreneurship training. It is because these skills are worth acquiring if we hope to produce a generation that will be capable of solving problems for our society and our planet today.

Stay hungry. Stay foolish.” This is what Steve advised at the end of his speech to the Stanford students. Hungry? Understandable. But foolish? With so many institutions aiming to teach tomorrow’s entrepreneurs the skills they need to succeed, I’m positive that we will see fewer foolish failures among them in years to come.

So, which program are you pursuing or thinking to opt for? Let us know your answer in the comments below.