The entrepreneurship education process comprises 3 stages, as follows:

1) understanding entrepreneurship,

2) experiencing the entrepreneurial process and

3) learning to be an entrepreneur by recognizing and exploiting business opportunities.

Step One: Readiness and Deciding to Enter the Business World

Step Two: Entrepreneurship

In this step, the scientific concept of entrepreneurship is discussed and then all the features and skills that a person needs to enter a new job is introduced.

Step Three: Innovation and finding Idea

In this step, learners become familiar with innovation as one of the main elements of entrepreneurship. In this section, techniques are also introduced to enhance the learner's creativity.

Step Four: Identify and Evaluate Entrepreneurial Opportunities

Step Five: business plan and funding sources

Step Six: Establishing and Starting a Business

Step 7: Stability and Business Administration(Management Skills)

The entrepreneurship education process comprises 3 stages, as follows:

1) understanding entrepreneurship,

2) experiencing the entrepreneurial process and

3) learning to be an entrepreneur by recognizing and exploiting business opportunities.

agree with Mahfuz Judeh

interesting points.

would also be interesting to compare this with existing entrepreneurship teaching programs.

Stages:

1. Imparting subject knowledge

2. Practical implementation through incubation centers

3. Actual Business (Facilitation and Guidance)

I would start trying to define the ambigious term of entrepreneurship firstly. This is really a contradictory term with many different, even competing meanings. One should try to bring some light into the jungle of different wordings.

Entrepreneurship in 1 lesson=teaching (reducing) Kirznerian essentials by 10 points or commandments (workable assumptions)=identifying gaps in a respective market.

What is the goal of teaching entrepreneurship? Is it to make entrepreneurs or is it to make academics who study entrepreneurs? They are two very different goals. If the goal is to make entrepreneurs, then let's approach this from the practical aspects tied to stages of business. I'll speak from my experience in Silicon Valley with enterprise software companies.

Getting Started

An enterprise software company usually begins with an idea for a product. (I'll not distinguish between product and service--i.e., software as a service--for simplicity.) It begins with some recognized unaddressed market need. The market opportunity isn't even sized. It is usually a "this would be useful to X" idea.

At this moment, often the seeds of failure are planted. There are several important decisions to make:

Note: if you are smart, you start a draft of a business plan at this point, which will be a living document.

That last item is so very important. Beginning with the idea, 'I will build the best product I can and see what happens', is a very risky way to do it. Starting with the idea, 'I will build a minimum viable product and then sell myself to ', is a better plan. 'I have a big market opportunity and will be viable long term', is also a better plan. Most successful software startups begin with the end in mind.

Deciding when to raise money is also crucial. Too early, and you will not maximize your personal value and retain control of the venture. The best way to start a technology company is 'sweat equity' to at least the prototype stage and even better the minimum viable product stage. Then raise money from angels to begin hiring all the overhead and sales people. During the early days, use contractors for various functions (principally accounting, legal, and HR) where possible.

Choose people you want to start the company wisely.

Technology chosen for implementation can make or break you. Read software licenses carefully. Open source projects speed development, but also may contain poison pills of various kinds. Software that is distributed on a Freemium model will get you in trouble down the road. For example, you should be avoiding technology that attaches royalties to commercial development--e.g., Java, MySQL, Sleepycat--those technologies from Oracle are a recipe for disaster long term, viz. their costs in technical support fees (calculated as a percent of list license fees and continue to escalate over time). Since Java is bad news, it means SCALA is bad news even though it is a really great platform for writing cloud applications (since it compiles to Java byte code). Python and C++ start looking way more attractive as alternatives. I've seen more than one product founder on the wrong tech chosen at the start--e.g., dependencies on unmaintainable Perl code, databases that didn't scale or were the wrong type for the application, poor security design, PHP prototypes that didn't scale in production, .NET applications that could not be easily ported, etc.

Choosing the wrong business form has also been a mistake. I've seen many people choose (US law here) an S corporation for the pass-thru taxation benefit, but then having to redo all the incorporation paperwork later as a C corporation, meaning you wasted the time and money. My recommendation, unless it is going to be a small services business or lifestyle business, start at the very beginning as a sole proprietorship, then incorporate as a C, when you begin working with additional people (don't mess around with a limited partnership, which is for professionals like lawyers and accountants). Pay a lawyer who does this stuff to do it right the first time when you incorporate. These internet document providers pretty much leave you too limited to do business properly and they end up having to be redone later at additional expense (5,000 total shares of stock authorized! Really?).

Introducing a Product to Market and Raising Money

One of the best startups I ever worked at was destroyed by raising money from the wrong VC. The VC wrested control, and tried to pivot a very successful services firm into a product firm. It ended badly.

Choosing the wrong sales strategy can kill a company. Sell off the web? Sell direct? Sell indirectly? Pricing strategy will be a process of trial and error, since, with a new product category (in the Reis and Trout sense) you will have no way to gauge the price elasticity of demand. You will want a recurring revenue model, so the old days of perpetual licenses and support contracts are over. Subscriptions are the most popular model. (In physical devices it is all about the consumable--it is better to sell the razor blade than the razor.)

Hiring sales people is a huge area of risk. Depending on the product you will need to profile well your sales candidates. My experience was mainly with long sales cycle enterprise software products. Only some salespeople have the psychological makeup to succeed in that model. Salespeople tend to be narcissistic because they hear mainly rejection and it is a defense mechanism. If they need regular sales wins for self validation, then enterprise software is the wrong kind of sales for them to do. Going 18 months between big wins can be tremendously demoralizing. Also few people are suited for complex solution selling. At my last startup, we died in the chasm for three reasons: (1) failure to catch a market transition from enterprise software to hardware appliances early ceding marketshare to competitors--blame goes to product management--(2) missing on too many direct sales hires; (3) failure to invest in an indirect sales model early enough--you can't scale direct sales fast enough. You will be tempted to put off the expense building a sales channel in favor of product development, but that would be a strategic error increasing the chances of dying in the chasm (see, Geoffrey Moore, Crossing the Chasm).

This is also the point when you will have to become a 'real company' staffing a lot of overhead positions. This is also when having the right financial leader makes a huge difference. Few have experience in the guerrilla finance tactics needed for startups (novel financing instruments, slowing or accelerating the payment of vendors to massage cash flow, structuring equity compensation for employees, tax avoidance strategies, etc.).

Managing Growth

If you are lucky enough to get into a hyper growth phase, there is a whole set of skills needed to manage expenses and grow while maintaining cost flexibility. On the product size, you must guard against roadmap capture by key customers. On the sales side, you must guard against escalating cost of sales while still maintaining morale. You will have to manage investor expectations. The cost of maintaining customer satisfaction increases proportionally to the square of the number of customers. Always keep in mind that the functions of the company that matter most are the people that make things and the people that sell things. That said, putting in place a customer success organization (mainly with long tenured people) is a best practice.

This is the point when you will likely be looking at exit (or the investors will force founders out, because the founders won't know how to manage this stage). When the forecast looks good, the exit looks enticing. Most companies will exit via a sale to a larger firm. I was at a startup (I came in with the 'adult supervision' after the founders were removed from leadership positions), which was built on an open source business model, that failed to sell themselves to IBM at an opportune time (the investors wanted more than the offer, which was a fair offer), and ended up being sold for assumption of debt 7 years later. The optimism that makes you a risk taker in starting the business can cloud your judgement at exit time.

Education

Most of the education for dealing with different stages of the startup is informal: mentorship, seminars, self-directed reading. There is a huge opportunity in formal education to improve education in entrepreneurship. Were I designing a curriculum, I would be structuring it, not around the business plan which is the standard way of teaching it, but around the stages of a startup business. I think the case method used in business school is artificial and produces what we in the call MBA-weenies. They prioritize accounting costs rather than look at opportunity costs (which often can't be easily quantified), think in terms of profit not cash flow (startups are managed to cash flow not profit or the balance sheet), and manage rather than lead. You could easily build a set of 4 10-week modules for an emphasis in entrepreneurship assuming the first year AACSB curriculum as a foundation. Rather than cases, the modules would include, readings, lectures, and a simulation for a business stage.

@Dieter, very good point.

@Stephen, you seem to suggest one lesson/ session is enough: the entrepreneur can advance on his own with a very good basic, practical foundation in entrepreneurship (thinking).

@Greg, great, well informed answer. There should be a market for the kind of school you propose.

You emphasize the practical and business acumen; the decisions the entrepreneur faces and will face.

El espíritu empresarial se adquiere renunciando al espíritu de ser empleado, no hay otra forma y debe ser así, pues exige determinación.

En relación con las etapas, hay dos formas de verlas, desde la formación del emprendedor y en la practica del empresarismo:

I. ETAPAS EN LA FORMACIÓN DEL EMPRENDEDOR:

1. Despertar: Se enseña el horizonte en la perspectiva de las oportunidades para hacer empresa, las limitaciones y capacidades implicadas. Con una orientación especial dada por la inteligencia espiritual, que es, entre otras cosas, lo que diferencia al modelo RACIMO de otros modelos de emprendimiento y desarrollo empresarial: "El objetivo de hacer empresa no esta en hacer dinero, esta en generar oportunidades de desarrollo para la sociedad, asumir el compromiso de protagonizar el bienestar de una comunidad a través del disfrute del trabajo.

2. Compartir un sueño: En esta etapa el emprendedor o el empresario en el camino de desarrollar su empresa, se traza una visión que se atreve a compartir con quienes motivan sus riesgos y con los que pueden ayudar a realizarlo. Implica técnicamente diseñar el modelo de negocio. Se enseña al empresario a través de la inteligencia espiritual a fortalecer su determinación y a creer.

3. Edificar: Implica hacer de manera planeada y con la perspectiva de éxito. En esta etapa no importa el resultado, aunque se trabaja por el, la inteligencia espiritual del emprendedor se sustenta en hacer de manera estratégica para conseguir crecimiento personal y grupal, si crecemos no importa que no lleguemos al objetivo, finalmente persistiendo y con tenacidad llegaremos.

4. Trascender: Es la última etapa y se enseña a verificar la mutua satisfacción de todos los autores del sistema, pues la consecución de logros es enriquecedora, si es responsable de manera integral.

I suggest emphasizing the initial step: undertaking depends on starting, breaking the comfort zone. This requires a minimum business plan: what product / service to offer, at what price and to which audience?

@Greg.

I appreciate your really grounded and thoughtful posting. However, I slightly disagree in one point. You say „ If the goal is to make entrepreneurs, then let's approach this from the practical aspects tied to stages of business. I'll speak from my experience in Silicon Valley with enterprise software companies“.

What you don’t acknowledge is that more than 70 percent of all self-employed people in Europe are working in form of solo-self-employment, own account workers who don't employ further employees in their companies. In common language, all these economic agents are also labelled as entrepreneurs. Although even this large group is rather heterogeneous, most of them are definitely far away from all this textbook knowledge designed for Silicon Valley entrepreneurs. The lesson is, we have to define what entrepreneurship is and we have to start talking what we mean when talking about entrepreneurship. Otherwise we fall into traps and operate with stereotypes.

If one says, aim is to coach and to educate to be succesful entrepreneurs this is just a part of the puzzle. For many of those agents, economic survival is just the rationality for doing the business, aiming to get a sufficient income. Teaching entrepreneurship may include to educate business(wo)men to be successfully but an academic understanding is – so my point – more grounded and needs many dimensions more, including theoretical reflections which are an essential part of academia.

Dieter Bögenhold , are you suggesting something more than a distinction between necessity and opportunity entrepreneurship?

The distinction between necessity and opportunity entrepreneurship was introduced by the Global Entrepreneurship Monitor (GEM) in the late 1990th firstly. It reflects perfectly what Bögenhold (1985, 1987) did already in German, namely the distinction between startup's following a "logic of needs" versus a "logic of self-realization" ("Ökonomie der Not" vs. "Ökonomie der Selbstverwirklichung"). As necessary those dichotomous rationalities are to highlight the fact that start-up's follow more than one single social and economic motivation, as too simple such dichotomous construction proves to be in the longer term: There are so many indifferent rationalities between.

Dieter,

The gig economy has made many people who otherwise would have been an employee of a firm into a business owner in a sense. I've been self-employed before, having been a ballroom dance instructor. I would never consider myself an entrepreneur in the classic sense.

The skill set is entirely different between firm creation and self-employment. Leaving aside the skills performed, the self-employed person needs to learn: prospecting for gigs, the basics of taxation, errors and omissions insurance, and personal finance literacy. For this reason, I was extremely skeptical, when in business school, the professor for entrepreneurship brought in a former student to talk to us about starting his own business as a motivational speaker. The professor himself provided much more instructional value, having started a chain of regional grocery stores in the upper midwest, before selling out and going to get his PhD.

My wife is an attorney and has bounced between self-employment and employment by firms over the years. She would never consider herself an entrepreneur. She has been paid via 1099 (considered an independent contractor for US federal taxation purposes) or via W-2 (considered a temporary employee for tax purposes).

We've also been a "household employer" for tax purposes. When my first daughter was born, we had a nanny as a temporary employee. I would not consider our household a firm.

Using taxation status or some artificial regulatory classification as the benchmark for defining an entrepreneur is problematic.

-Greg

Dieter Bögenhold ,

"start-up's follow more than one single social and economic motivation, as too simple such dichotomous construction proves to be in the longer term: There are so many indifferent rationalities between."

in your mind, how exactly does this impact entrepreneurship?

@ Greg. You do a very good point when bringing "gig economy" into discussion. It seems that new forms of economic flexibilzation in combination with an individualization of life-styles lead to new forms of entrepreneurship which seem to destandardize its previous appearances. Gig economy is mostly combined with a puzzle of new life-courses and identities which lead to diverse new hybridities of job identities, firms and occupational profiles.

@Brian. Firstly, entrepreneurship must be better defned and put into different boxes which allow a look at and discussion of the individual fragmentations. Secondly, we must go beyond stereotype classifications.

Therefore teaching entreneurship in different levels or stages may be more appropriately coined as teaching and exploring entrepreneurship in/of different boxes.

There is an approach based on practices:https://www.researchgate.net/publication/296341944_Teaching_entrepreneurship_A_practice-based_approach

Very interesting question. I shall take this opportunity to share my experience of last semester spring 2019 where i taught entrepreneurship to undergraduate (4th semester) business students . In my three hours of class, i dedicated one hour for lecture, one hour for discussing practical entrepreneurial case studies, and lastly i used to discuss the progress on the startup of students. In very start of semester I told my students to establish a startup and i am glad that about 4 startups until now those students are still carrying on and they are making money and learning as well. So i would conclude that "Experiential learning" is essential for teaching or more specifically practicing entrepreneurship.

Entrepreneurship teaching methods are very different. In one, usually at earlier stages of the education process, the key issue is to transfer knowledge of doing business, the conditions for establishing and developing a company in a specific country, starting a startup, writing a business plan, developing a marketing strategy, conducting a SWOT analysis, financial analysis, running advertising campaigns. , multi-faceted enterprise management, etc. On the other hand, at the university level, at the advanced level, as part of entrepreneurship education, the education process is carried out according to concepts based on practical classes, the key issue is for students to develop business development concepts, write a business plan and set up a specific business, startup, etc.

Best wishes

As suggested from above discussion

1. Imparting subject knowledge

2. Practical implementation through incubation centers

3. Actual Business (Facilitation and Guidance)

1. El primer paso en la trasferencia de conocimiento en relación con los diagnósticos, con cualquier herramienta, DOFA u otro, esta en romper los esquemas para abordar los problemas, la forma es entendiendo que un Problema es una perdida de control, donde control es la capacidad que tenemos para iniciar, cambiar o dar continuidad a algo. Si el analista, estratega o gestor de organizaciones logra apropiar esta definición y su comprensión es clara, se motivará a enfrentar los diagnósticos con actitud critica constructiva y propositiva.

2. La implementación del modelo esta garantizada por las herramientas de de Diagnóstico y de planeación disponibles para tal fin. Se pueden solicitar de manera expresa en el correo: [email protected]

3. Los negocios reales estarán al alcance de los emprendimientos y emprendedores en la medida en que suplan el proceso del modelo RACIMO, pues lo más importante para que accedan a ellos es la alineación con las empresas tractoras.

Entrepreneurship teaching should be implemented at almost every level of education and should include, in addition to issues related to the basics of economics, also practical issues related to setting up a business, taking into account the current economic situation, conditions of the economic environment, applicable regulations of economic law, marketing instruments and strategies used, determinants of activity startups, the importance of innovation in terms of host activities, etc.

Regards

Dariusz Prokopowicz

Little engagement I had in the this area, I presented it in three levels...

1. Skill acquisition

2. Business opportunities

3. Marketing strategies.

I would recommend college graduate as general entry requirement for first and any higher qualifications for the others, in view of the involvement of business communications to clients & business proposal deliveries.

Activities to Teach Entrepreneurship:

Turn class participation into speaking events. Instead of standard class discussions, give students a chance to practice public speaking. ...

Introduce project-based learning (PBL). ...

Integrate high-quality, nonfiction texts into the curriculum. ...

Work with authentic tools and platforms.

By bringing in relevant, contemporary material to the classroom, teachers can engage students with the issues they care about. Students can research a cause that matters to them.

For example, let’s imagine that your students read five articles throughout the semester about environmental issues. Next, ask students to vote on the issue that feels most important to them. Go further by helping students reach out to experts in the field. Lastly, help students organize a fundraising or volunteering activity that helps students to make an impact in this area outside of the classroom.

How to Teach Entrepreneurship to Students

https://blog.thinkcerca.com/how-to-teach-entrepreneurship-to-students