Starting your own business is undoubtedly exciting. However, it comes with its own set of risks and uncertainties. The US Small Business Administration states that 20 percent of new companies fail to go beyond their first year, and about 50% of these businesses continue to function for five years or more.
When you run a business, there will be factors outside your control. You have to handle them as they come. However, that does not mean that you have no advantage. Things like effort, knowledge, and industry-specific skills are in your hand, and how well you develop them,
A comprehensive entrepreneurship education curriculum will help you develop these skills and gain confidence to run your business smoothly and face the challenges competently as and when they come.
Several institutes have started offering entrepreneurship courses due to the growing number of businesses worldwide. However, that does not mean that any course will fit your need and help you fulfill your knowledge gaps.
Investing in an entrepreneurship course is an important decision, and you must decide after determining your needs and requirements.
Here are five questions you can ask yourself before choosing a course that you like
At What Stage Are You in Your Entrepreneurial Journey?
Are you a newbie with a passion for business and innovative ideas in your mind, or have you already opened your startup but need some profound guidance? You must choose a course that matches the stage of your entrepreneurial journey.
One typical course for everyone might not be of any help. Entrepreneurship education curriculum can be of several different types, like:
- The introductory course might start with a detailed introduction to startup.
- For intermediaries, courses might explore the nitty-gritty of specific skills like market analysis or financing.
- Some curricula might also include hands-on workshops so students can apply the theoretical concepts to real-life circumstances.
So, choose a course depending on your skill set, knowledge base, and, ofcourse, passion.
What is the Course Breakup?
As an entrepreneur, you need to be armed with various skills. While it is practically impossible to learn all of these throughout the course duration, the curriculum must help you develop the required soft and hard skills.
Therefore, study the entrepreneurship education curriculum in detail and determine if the course will help you enhance skills like proper business communication, creating and making a sales pitch, marketing, data analysis and presentation, and many more.
Additionally, the course must also equip you with the skill to identify problems and new opportunities, assess the market or financial offers, study and understand proper investments, devise business strategies, and more.
Does the Curriculum Allow Collaborative Studies Across Departments?
Entrepreneurs will always have to work in a team to achieve their goals and succeed. Whether your group consists of two or 20 members, all entrepreneurs must learn teamwork must embrace the members based on their skills and capabilities.
The lone world tactic does not work well when starting your own company. Hence, it is best to choose a course that will help you collaborate with your classmates and students from other classes to develop people management skills and respect and learn from others’ opinions.
Can You Apply for Scholarships or Grants?
Scholarships and grants can be beneficial, especially if you want to start your business right after passing business school. No matter how small, starting a company requires a significant amount of capital.
If your institute offers scholarships, it can help you take some of the financial burdens off your head. Apart from scholarships, enquire about grants or funding that you can get for your startup. Many entrepreneur institutes organize and hosts competitions where the seed money for startups is offered to the winner.
These resources come in handy to start a business and also get your degree at the same time.
What Kind of Networking Opportunities Do You Get in This Course?
There is no alternative to networking when building and growing a business. It is an invaluable resource upon which your company can survive and thrive. A comprehensive entrepreneurship education curriculum will enable its students to meet new people, network, and foster long-term relationships.
If the student attends college, networking will automatically occur during and after the class. However, if it is an online course, you must look for built-in networking opportunities in the curriculum.
Through proper networking, you can not only acquire investment but also meet peers and skilled individuals who can advise you in times of need. You can also tap into your network to hire for your team.
Ask these questions when researching an entrepreneurship program that meets your expectations and passion. Enrolling in a proper program is a long-term investment in yourself and your business.