| Over the last 30 years, U.S. colleges and universities | | | | founders who have limited formal education...but they |
| have expanded their entrepreneur education | | | | will all tell you that the road to success was all about |
| dramatically. In the 1970s, fewer than 200 schools | | | | relentless learning. |
| offered classes in entrepreneurship. Now, over 2,000 | | | | The risk factor that seems inherent in |
| do, and the class lists are not limited to business | | | | entrepreneurship is another often misunderstood |
| school students. Social workers, lawyers, and artists | | | | feature. Many non-entrepreneurs assume that you |
| are studying to improve their entrepreneurial skills. So | | | | must have an incredible risk tolerance to even try to |
| what does that mean for the average Joe who | | | | go out on your own. In reality, the cornerstone of |
| wants to strike out on their own? Is the formal | | | | true entrepreneurship is taking the risk out of your |
| education becoming a necessity to succeed in your | | | | business idea by fearlessly confronting every possible |
| own business? | | | | obstacle and negative outcome and working tirelessly |
| There is no doubt that there are certain skills that | | | | to reduce or eliminate the odds that they will occur. |
| improve the odds of success in small business, but | | | | Again, the path to obliterating risk is paved with |
| there is no clear, linear definition of what | | | | knowledge. To win in business, you need to know |
| entrepreneurship actually means. Basic business skills, | | | | and understand everything about your product, your |
| such as accounting, marketing, and planning are | | | | customer, your competition, and your business |
| obvious requirements but do not paint the whole | | | | practices. Being a risk-taker might get you over the |
| picture. Successful entrepreneurs seem to have | | | | doubts of starting a business, but it won't drive |
| something more, something difficult to explain and | | | | ultimate success. |
| even more difficult to teach. | | | | One particular advantage of attending formal |
| If asked, most successful entrepreneurs will tell you | | | | entrepreneurial education courses is that you are |
| their secret to success...but no two of those | | | | exposed to other like-minded, motivated people. But |
| explanations are likely to match. In fact, some | | | | there are other ways to accomplish this task. |
| responses may be complete opposites: "No fear of | | | | Networking is a critical skill for anyone in business, and |
| risk" versus "terrified of risk", "flexibility" versus | | | | every city has a multitude of opportunities to spend |
| "steadfast focus", "years of experience" versus | | | | time with other entrepreneurial types. Join the local |
| "beginner's luck"...so what's the real deal? The truth is | | | | Chamber, talk to the local Small Business |
| that any number of personality types, belief | | | | Administration office (SBA), and watch the business |
| systems, levels of education and experience, and a | | | | papers for networking opportunities. Get to know |
| million other factors, taken in balance, will influence | | | | other business owners in your area and take in their |
| whether you can stomach the realities of building | | | | advice and knowledge. Evaluate your own skills and |
| your own company. | | | | put in the time and effort to fill in the gaps. |
| Formal education is not absolutely necessary, though | | | | The bottom line is that formal education, while a nice |
| a drive to continuously learn is essential. Some | | | | bonus, is not necessary to be a successful |
| research claims that a college degree does improve | | | | entrepreneur. However, a willingness to learn and |
| your odds, but it is likely that the distinction is more | | | | synthesize masses of information is essential, as the |
| closely related to those individuals' ability and | | | | need for knowledge never ends on the road to |
| willingness to learn things on their own than to | | | | business success. |
| whatever they studied in school. There are plenty of | | | | |