Section 1.08 -Entrepreneur Education

EDUCATION IS THE DIFFERENCE BETWEEN SUCCESS AND FAILURE IN LIFE

An investment in knowledge pays the best interest – Benjamin Franklin

What is Entrepreneurial Education?

Entrepreneurial Education focuses on the development of skills, and increasing experience, attributing to the realisation of opportunities for success. This Digital online training seeks to provide students with the knowledge to take action and practice to motivate and encourage personal development.

Entrepreneurs are made, not born, by imparting knowledge and skills needed for a new business venture, the process of shaping one’s ability as an entrepreneur to acquire and be transformed by direct participation. This process also involves creativity and new use of knowledge to transform one’s experience.

Everything is based on skills that can be learned, no one is born with knowledge. Everyone can learn what they want or come across the information or be informed to possess the knowledge. Just like teachers or doctors, they go to school and attend class and lectures to learn and so can you as an entrepreneur. You can learn anything you put your mind to.

Be aware of the content you read and the information that is supposed to be the official narrative. As most stories are summarised of a complete story, otherwise it will take forever to gather all the facts and to report them. Often with summarised stories, the people tend to (L.A.M) –

Lie to themselves by default on what they hear or read,
Assume information that is not there
Make up something in their mind to close any gap observed by the psychological mind.

Detail stories

Most success stories are relayed in quick summaries and even when they are told by the actual entrepreneurs. You will hear they started something and the next minute, magically they ended up with this great portfolio, a chain of shops or empire building. What is missing is the transition, hard work, sacrifices, investments and the time period to achieve their goal.

What is the issue?

Education. What type of education?

Education is formal and informal to gain a bank of knowledge first to realise it takes vision, money, skills, determination, attitude, focus, sacrifices and time and many other factors to succeed.

Wanting to start today because one wants to be successful in a few months or six months is living on cuckoo land, you might as well expect to be on the moon in the next three months. Listening to summaries is poisonous to entrepreneurial development as too often it teaches the wrong principle;

no hardly any hard work
not many sacrifices
no struggle to get investments
everything happens so quickly in no time at all!

These are the false perceptions of young and wannabe entrepreneurs being bombarded. setting most on the road to destruction before having an excellent chance to start.

The standard of entrepreneurial education does not focus on memorising answers merely to pass an exam or a job interview, but on learning, principles to think quickly and adapt to specific challenging scenarios. There is an unborn entrepreneur in everyone, yes, including you that needs to be awakened. This can be challenging, one has to have a positive attitude throughout the digital online training course. It’s about having the right attitude and positive mindset. Being negative stops you from growing into an entrepreneur.

You can only go as far as your mindset will allow you to go. What you believe, you can achieve, what you don’t, you can’t – Melvin Mayard

How to become an entrepreneur?

Becoming an entrepreneur in any subject means you need to follow the instructions and practice and repeat the principle as often as possible until mastering it. We all want you to become a hero or heroine, the world needs your talents. Think medium to long-term.

Believing in yourself is much more than just a thought or an aim to obtain a qualification, you can unlock your entrepreneurial potential and gain the skills necessary to succeed, go beyond your academic needs, entrepreneurs also seek to gain informal education in becoming a hero/heroine to serve the world and become wealthy.

Content knowledge is not enough: Research indicates that brilliant and educated people often have an “expert blind spot“ which helps them recognize how difficult it is for a novice to understand the fundamental principles of their area of expertise.

The fastest way to gain knowledge is to ‘rehearse teaching’; that is, to try to explain the concepts yourself preferably to someone else, otherwise to yourself. Stabilising knowledge in long-term memory happens by repeating the content with some differences each time. Finding different ways of explaining the subject and topics would force creative thinking and self-awareness.

You can not succeed in ignorance, Entrepreneurs must be educated to become successful. – Melvin Mayard

Thinking abilities

Although we all need to memorize many things, as an entrepreneur you would need to use various cognitive thinking abilities such as;

Analytical thinking
Abstract thinking
Divergent thinking
Critical thinking
Creative thinking
Convergent thinking
Sequential thinking
Speculative thinking
Strategic thinking

What is Analytical thinking?

The ability to identify problems and their causes, extract critical information from data and develop solutions for the problem and design execution methods for others to deliver the final results.

What is Abstract thinking?

Able to perform complex thinking, to reason on the understanding of complex concepts that are not biased to experiences, people, or preferred situations.

What is Divergent thinking?

The art of exploring many possible solutions using allowing thought processes or methods to generate spontaneous, free-flowing creative ideas. Best in groups to explore many solutions in a short time with random thoughts allowed and are structured and organised as the solution.

What is Critical thinking?

The thinking process of actively and skillfully creating a concept in mind, analysing, observing, drawing from experience, reflecting on information, and reasoning upon scenarios as a guide before acting upon it as the solution.

What is Creative thinking?

Creative thinking is the ability to think outside the box to come up with unique, original solutions for problems that may be normal or defy the norm and destroy the common expected routine answers.

What is Convergent thinking

Convergent is the opposite of divergent thinking, referring to giving the expected correct answer to standard questions that do not require any extra intelligent thinking because of the established rules and logical reasoning.

What is Sequential thinking?

A person’s ability to mentally organize or plan on paper the sequential reasoning of an entire process requiring communication and execution.

What is Speculative thinking?

The analyses of past data and prediction of future possibilities are based on solid facts. The greater accuracy of the data with scenario questioning all possibilities for solutions improving future performance.

What is Strategic thinking?

The intentional and rational thought process focuses on the analysis of an end goal to be achieved by focusing on finding and developing unique opportunities to deliver value.

Entrepreneurs’ psychological thinking is creative and strategic thinking – Melvin Mayard

The price of success

Success comes with a price, it’s never easy or free, and entrepreneurs need to pay the price for their success. formal education forces a certain amount of various ways of thinking based on the learning subjects and practical experiments.

Academic education is not enough, entrepreneurs must add their own desire to gain informal education, usually fueled when starting a career for a period of time, then motivated to start their own venture. The lack of enough experience is directly related to the lack of the various psychological thinking that would lead to failures.

An entrepreneur must have both formal and informal education to increase the chance of success. The bottom line is everything can be learned.

Remember to apply what you learnt from the previous lesson, research contents, and do not assume the person is honest with their success, but the story being told is being summarised by another, and the damage is being done to yourself as you program your mind negatively with the unrealistic time period, quick success and easy money. The damage is done by you becoming stressed, be quick to ask questions about the time period and the process of their transition. Ask the 5 W’s and How.

why
what
which
where
when
How

When you read do not assume about people’s success, always find out their detailed stories and their progression and transitioned from one stage of their lives to another and how long it took them to achieve their goals.

An entrepreneur is made by learning, no one can succeed in ignorance – Melvin Mayard

Summary