Studies have shown entrepreneurs improve their chances of success with education (Blanchflower, 2004). Education for a business entrepreneur though is different from traditional educational programs focusing on learning business skills.
Business skills are necessary, but small business founders also have unique needs. These needs include gaining expertise, cultivating entrepreneurial drive, advancing the ability to promote change, developing the right talent, encouraging competitive drive, and dealing with risk in uncertain conditions (Lewrick, Omar, Raeside, & Sailer, 2011). Many of these needs entrepreneurs gain from experience and not the classroom.
The major role of a small business entrepreneur is to find and take advantage of opportunities. Founders do not want to lose opportunities and put opportunity development first before learning business skills. The small business founder learns best in an experiential learning setting (Heinonen & Poikkijoki, 2006).
Founders of small business learn best from experienced entrepreneurs in an active setting instead of sitting in a classroom learning business planning skills. An active setting allows the entrepreneur to gain business skills, while developing business opportunities and stimulating innovation. Learn more.
Blanchflower, D. G. (2004). Self-Employment: More may not be better. (10286). National Bureau of Economic Research. Retrieved from http://www.nber.org/papers/w10286.
Heinonen, J., & Poikkijoki, S. (2006). An entrepreneurial-directed approach to entrepreneurship education: mission impossible? Journal of Management Development, 25(1), 80-94.
Lewrick, M., Omar, M., Raeside, R., & Sailer, K. (2011). Education for entrepreneurship and innovation: “Management capabilities for sustainable growth and success”. World Journal of Entrepreneurship, Management and Sustainable Development, 6(1), 1-18. doi: 10.1108/20425961201000001