Teaching entrepreneurship to students

Teaching entrepreneurship to students is important to demonstrate how having an entrepreneurial spirit early in life is a positive thing. They will learn the value of money, time management and maturity that will prepare them for life.

By teaching entrepreneurship, students will also be able to examine the value of their skills and what they can do to improve these skills. In addition to being taught the benefits of entrepreneurship, students should also be given a realistic overview of the daily life of an entrepreneur so that they have manageable expectations.

The best way to do this is to put them in groups. Students can start with the idea and how to present it. Business concepts such as SWOT analysis are introduced.

The most important part is guiding the students to turn the idea into reality. They must discuss important decisions about marketing, networking, sales, financial planning, business operations, and obtaining financing.

Throughout this entire process, students must be instilled that being “in love” with their idea must be tempered with realistic expectations. The business model they propose must be feasible and, more importantly, will attract customers.

Use real life case studies to demonstrate all the points that were discussed. Successful or unsuccessful, a solo business or a business with employees – all of these types of startups should be shared with students so that they are aware of the things they will encounter the moment they launch their business ventures.

Finally, it is also important to convey to them that although the risk of failure is real, the important thing is the lesson learned. Who knows, these lessons learned would be essential later on to make the next business venture a success.