How are you doing? Welcome back to another video at Square One Challenge When you ask an entrepreneur if they know of a better way to run a successful enterprise This is the response you get And if you tell them that entrepreneurial learning can equip them with all the necessary skills to be a successful entrepreneur These are the questions they normally ask We all know for a fact that no amount of theory can actually replace the learning an entrepreneur receives by forming and managing their own enterprise But we can learn from the experience of others to do it better.
For over years researchers have studied entrepreneurs to understand What they do? Why they do what they do? How they do it? And what makes the so successful? In this video I will be discussing the important aspects of learning entrepreneurship what is it? why we need to learn it? and how important it is for business owners and entrepreneurs SQUARE ONE CHALLENGE aims to provide you FREE education on entrepreneurship so that YOU can create successful enterprises that are both Scaleable and Saleable The legendary management guru, Peter Drucker who stated in his book Innovation and entrepreneurship Principles and Practices that entrepreneurship is not magic its not some kind of a mystery neither something that is embedded into a person's genetic makeup its a discipline and like any other discipline of science arts psychology sociology etc it can be learned through methods and processes We all know that entrepreneurship is risky.
Right? but Peter stressed that entrepreneurship is risky mainly because so few of the so-called entrepreneurs know what they are doing they lack methodology and they violate elementary rules So, what and entrepreneur need is a systematic approach for putting all the pieces of information together to work smarter stay alert of road blocks to test new ideas, to stay motivated and to help align expectations with stakeholders and investors and you can only do that by learning entrepreneurship entrepreneurship is a skill that can be learned you dont have to be an entrepreneur to run a successful business you can become one by developing an entrepreneurial mindset and learning necessary enterprise skills entrepreneurship affects all organizations regardless of their size or age or whether they are consider a private or public body as independent of their objectives its importance for the economy is reflected in its visible growth as a subject of interest to academics business men and governments all around the world the study of entrepreneurship is important for those who want to think and grow like entrepreneurs and want to have a visible vision for their life for this you must think like an entrepreneur when you are an employee you must observe to seek out new opportunities to learn new skills and and accept new responsibilities that challenge you in a way to invoke entrepreneurial outlook at problems and finding solutions for them you must listen and pay attention to what others have to say including your mentor, colleagues and most importantly your customers You must develop a clear foresight to where the economy and society is shifting in their behaviors and approaches in order to think like an entrepreneur you must think and reflect on the problem and not complain about it as entrepreneurs think of problems as opportunities they analyze it and suggest viable solutions their vision and foresight helps them to understand and propose this viable solution at times when other people themselves dont see it as a problem or need to aspiring entrepreneurs and startup entrepreneurs learning about entrepreneurship often inspires their vision in life Maiers is an edupreneur and she believes that when a person connects their education and entrepreneurship together they see a visible journey for their startup idea they can visualize their idea clearly and can put it into a concrete business plan the field of the study of entrepreneurship is distinguished from other fields of management because it addresses a different problem and utilizes different methodologies to solve those problems this reflects to the importance of entrepreneurship as a distinguished field of study within management entrepreneurship as a subject is a retentively young academic field and is proposed to be in the early stages of its developmental cycle due to the lack of a unified framework in research It was around 1970s that only a few American universities started teaching entrepreneurship Peter Drucker's argument that entrepreneurship is a discipline that can be learned led to more sophisticated approaches in research and statistical techniques In recent year entrepreneurship has become one of the sought after career choice and professional discipline.
According to some researchers its one of the few subjects in management that utilizes maximum integration of both functional knowledge and abilities of the person Now, lets look at some of the terminologies that are used interchangeably to describe what studying entrepreneurship is the two most frequently used terms in academic context are entrepreneurship education and the enterprise education the entrepreneurship or the enterprise education is basically the education that a student receives in school, colleges and universities it is the education of skills that are essential for creating a successful enterprise The entrepreneurial learning is more of a practice-based approach that a person can receive outside a classroom Its not only about learning skills but also applying those skills in business creation Unlike MBA's or business management courses that teaches you how to be a good manager within an organization entrepreneurship education teaches you sills to manage and run your own enterprise an entrepreneur must be skilled in accounting, marketing, digital skills, technical skills strategy management and people management sills Here, I have put together an exhaustive list of necessary education skills that an entrepreneur must have learning finance and accounting will give you a basic understanding of balancing a budget and how to manage cash flow it will help you to understand the health of your business by revealing your company's assets, liabilities and owner's equity which is done through a balance sheet an entrepreneur is heavily involved in marketing whether its selling an idea or product to investors or customers marketing teaches you how to develop products that people want or need you'll also learn how to develop a marketing campaign and how to engage your audience Learning economics will give you a basic understanding of production, distribution and consumption of goods and services it will also inform you on government policies effecting your business and how you can function in the global market also, you'll learn how to leverage both microeconomics and macroeconomics for the success of your business leading and managing people is a trait that every entrepreneur must possess some people are born with this talent but those who are not can learn the techniques of being an effective and efficient leader you can learn skills like how to properly communicate with team members when delivering criticism or delegating tasks how to motivate your team and how to make your team collaborate with one another digital skills are important even of you are not involved in the tech industry its definitely worth the time to learn concepts such as computer coding, how computer work how software works and how to secure your system how to compress digital media and how the internet works also if your business is in the field of medicine or engineering your former education will help you create a better product for your customers history is probably one of the most valuable courses that you could take you could learn about the mistakes that past entrepreneurs have made how certain inventions and entrepreneurs have changed the world we did a previous video discussing the history of entrepreneurship you can watch that by clicking on the (i)-icon above for most people getting in front of people and making a sales pitch is one of the most nerve-wrecking experience you should learn how to deliver concise information in allotted amount of time how to make an argument and how to deliver your presentation effectively by articulating your voice and handling your body language entrepreneurs have to do a fair share of writing throughout their career whether composing a business plan or pitching your idea to investors in all cases your grammar skills will be put to test finally your former education of writing a thesis or dissertation will give you research skills this is a great skills that you can learn either researching for your own knowledge or for writing a content for your blog post or delivering a fact-based presentation since you will discover the different types of resources which resources of them are reliable and how to cite those resources correctly as entrepreneurs we are often in need of motivation for taking the right decision and we try to follow the paths of those who have earned their success as an entrepreneur there are some entrepreneurs who left their education to pursue their passion such as Mark Zukerberg Steve Jobs Bill Gates Walt Disney David Krap or Richard Brandon however they are all exceptions and regardless of leaving their class-room education all of them continued the path of self-education and life-long-learning there are also some highly educated successful entrepreneurs like American business tycoon and computer scientist Lawrence Larry page founder of Google he was enrolled into a Ph.
D program in computer science at Stanford University when he and his fellow Ph.
D candidate Surgey Brin came up with the idea for Google Phil Knight co-founder of Nike holds and MBA and Fred Smith founder of FedEx formerly known as federal express earned a bachelors in economics most business owners or entrepreneurs in most countries including Pakistan are educated to a graduate level all these successful entrepreneurs have one thing in common The Golden Key the golden key of life-long-learning and through "Square One Challenge" I'm offering you this golden key for FREE ALL YOURS TO KEEP so SAVE it SAVOR it and SPREAD it until next video bye.