Training to be an Entrepreneur
Aug 22
One of the questions I am often asked is “can you be trained in Entrepreneurship?” I go against the grain of most people’s view on this subject and believe that you cannot!
What is Entrepreneurship after all? It is having a desire to take massive personal risks in order to create wealth. Any other definition of this simply blurs into what a business person does. Not all business people are entrepreneurs but all entrepreneurs are business people. For me, the difference is the desire to take huge personal risks. How can you teach that? Perhaps you could train gamblers to become entrepreneurs by just giving them business training!
Business skills can of course be taught as can commercial skills. This is not the same though as the characteristics required to start a business. I have an MBA and I can say that it was a fantastic education. As a result of that course, I believe I am able to make much better business decisions. I am able to realize what can make a business tick and to quickly diagnose a business process. My degree in Economics was also extremely useful in making me understand how the wider environment can shape opportunities for business. I am a great believer in business education. However this education can never give you an aptitude to take risks. Yes you can be made to feel more comfortable with the risk you are taking, but this risk can never be a rational decision; it will always be an emotional one.
Yet there is a massive industry which seeks to teach and motivate entrepreneurship. I despise this industry. It always makes me laugh that there are so many ‘millionaires’ want to share their secrets with you on courses. All you have to do is pay a small fortune. I think they have probably become millionaires by getting people to pay for these courses! Ask yourself - if they really are successful, why are they spending their time selling these courses? Why not do it for free if they really are so successful.
The other aspect to this is what I call the motivational industry. If you need to go on a course to motivate you to take the biggest risk of your life - something is wrong!
Entrepreneurship is not for everyone. You either feel the calling or you don’t. At the moment it is seen as something trendy and of the moment. This is dangerous as such huge risk taking should never be a fad.
Hi and welcome to my blog. 
Aug 22 at 08:29
I don’t think you are going against the grain here. I think most entrepreneurs would agree with you. The comparison with gambling is an annoying one I here often. High risk taking is not gambling. As an entrepreneur (a good one anyway) you way up all the risks minimise them as much as possible before taking any action. I would have thought if you asked entrepreneurs to justify their risk taking that once they had finished with the ways in which they had minimised their risk it would no longer seem so daunting.
I guess the key is self belief that they can pull off what they need to in order to beat the downside.
Aug 22 at 10:27
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Aug 22 at 15:21
Oh Permjot!!
Not only do I disagree that Entrepreneurs can not be trained, I am putting my mouth and my money in touch with one another in setting up a school to do exactly that (as you know, because you have been cheering me on).
Entrepreneurship is not simply a “desire to take massive personal risks in order to create wealth”, it is the burning desire to be rewarded for achieving a single-minded vision. You are correct in your assertion that Entrepreneurship is not for everyone, and so the selection criteria in teaching entrepreneurship needs to be carefully administrated. Nevertheless, I am so confident that I can find good entrepreneurs in every crop of graduates that I have budgeted £100,000 in seed capital for each of the first five years of the school program.
Entrepreneurs can be trained if they are caught early (under 25), given help in finding an idea that they are both knowledgeable and passionate about, supported with a strong team of mentors and given regular feedback.
Dave hits the nail on its head when me brings up the subject of confidence. The best type of education is the one that prepares a student for the real world, breeding confidence that actions and decisions will be well made.
I will put today’s post down to it being a Friday and you feeling mischievous. Yesterday’s was right on the money - one of your best.
Aug 22 at 15:41
OK - how about I join forces with you!
Let me think about this - but perhaps there is a course!
Watch this space!!!!