The Power of Entrepreneurship Education

Image from Unsplash by Andreas Kalssen

We’ve developed insights and used many different methodologies while working with thousands of entrepreneurs in over 100 countries around the globe. Many have shared their great results — from raising millions of dollars to hiring people — or expanding to other countries.

What is most interesting is the debate in the educational world over how to engage entrepreneurs. From our perspective, the recipe for being an economic development agent that drives entrepreneurs to get results is simple:

1. Listen to what the entrepreneurs want
2. Listen to what the market needs
3. Challenge entrepreneurs when they are comfortable
4. Encourage entrepreneurs when they are down
5. Apply empathy to the situation the entrepreneurs face

As you continue to generate economic development via entrepreneurship, you might want to think about the different phases entrepreneurs go through. They might have an idea but haven’t done anything with it yet, or in the startup stage they’re delivering results or services to the community, or they have been in business a while and are going for growth.

Each stage is different, needing different support systems to make things happen. They might also need different approaches, or different people working with them.

Amazing things can happen based on the diversity of the individuals that provide mentoring, coaching, advising, or other support services to help the entrepreneurs get their business where they want to go.

We would love to hear what else you have learned!

BEFORE YOU GO:

We see our blogs as opportunities for dialogue. Please share your thoughts as comments.

1. What tools do you use to help entrepreneurs move through different phases?
2. How do you leverage your existing network of entrepreneurs?
3. What other insights do you have to share about entrepreneurship education?

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Faris Alami is Founder and CEO of International Strategic Management, Inc. (ISM). He works internationally, presenting Exploring Entrepreneurship Workshops and other entrepreneurial ecosystem — related ventures.