“Entrepreneurship” remains a fascinating word for many MBA graduates and working folks (non MBA yet, including me. 😉 But there are few who could “Just do it”. Here I like to highlight my take on it.
I think there are more ‘born’ entrepreneurs than ‘made’. Considering, Jack Welch, Bill Gates, Dell and many more. Some suggest that entrepreneurship can be thought, my vote to this statement is somewhat to limited degree.
I think college can
- Get you in a lab.
- Get domain knowledge on historical data basis.
- Teach you unique way of logical thinking.
- Teach you problem solving and analytical skills.
- Teach you set of belief about humans.
But it fails to recognize and educate about sightings the future, which is a core attribute to an entrepreneur personality.
Even, MBA program for entrepreneurs, can teaches you, only.
- How to evaluate an idea or an opportunity?
- How to make business plan?
- How to recognize and mitigate risks?
Inversely, Entrepreneurship has three core aspects.
- Exploiting and defining opportunity, careful.
- Understanding and marshallings the required resources.
- Negotiating and harvesting these resources, effectively.
College can teach you “science of entrepreneurship”. But the art, “application of principals of science”, is very much individual attitude. This is where the difference lies between management graduate and street smart entrepreneur. Why?? In decision making, the graduate will heavily rely on historical events, index patterns, market data or future predications, but later one will just rely beats of the street, people day-to-day problem and his vision to tap it.
Education teaches us to plan for uncertainty. But often, this education can be disabler and can hamper our ability:
- To be adventures against stated risk.
- To tolerate the risks and event due to over-analysis.
- To pursue the unknown.
- To dream!!!
But what I see a down side of education is that you heavily rely on data and skills. MBA education does not mean that you get the job of entrepreneur or guarantees the taste the success for any startup you dip in. I think formal business education can be a liability to an entrepreneur. Why? How?
This can damage a potential entrepreneur success prospect. If a potential entrepreneurs goes to MBA collage, he will be made to think and make decisions just like professionals sitting in big corporates. These graduate professionals are supposed to depend data sheets and computer generated project report to make decision. And certainly, he will not be allowed to take any decision on any a potential prospects without databased projections. Entrepreneurship is doing just the opposite. It is about
- Beating the rich and fat corporate guns where they cant think and shoot.
- Making gut feeling a reality.
- Beating the elephant with rabbit like speed.
I am not advocating against MBA grads, instead stating, entrepreneurship is not for just for those graduates ‘unicorns’ but for any body who can dream and chase those desires to douse the fire in belly.