This week’s question: What classes can I take on entrepreneurship?
Dr. Business: Many colleges and universities have courses on entrepreneurship. They are good to gain a fundamental understanding of entrepreneurship, but they need to be supplemented with some hands-on practical experience to achieve a better understanding of what it means to be an entrepreneur.
In my MBA course on “Entrepreneurship & Innovation”, since I am the epitome of an entrepreneur I share with my students what I have done and I am still doing of an entrepreneurial nature to give them a real life flavor for what’s involved. In addition to that I have selected three course deliverables: (1) develop a paper on an entrepreneur outlining what problem they identified, the solution they developed, and how they raised enough money to implement the strategy that has made their business what it is today, (2) select a relatively new website created by an entrepreneur that they currently use and get value from, and present it to the class explaining how it has evolved, and (3) take an idea that they have for a business and develop a business plan to determine whether or not it can be a viable, profitable enterprise. This project is an invaluable learning experience for any would-be entrepreneur.
As a result of taking my course, on average, several of my students have started their own businesses every semester. This blending of my actual experiences as an entrepreneur, the study of other entrepreneurs, and the actual exercise of constructing a business plan on their own idea, has proven to be a model for success in terms of teaching the concept of entrepreneurship.
What’s your question for Dr. Business?