Because in today’s business landscape, running a business requires well-honed knowledge and skills more than just capital, ideas and stamina that’s why.
While arguments could be that many of the world’s most successful entrepreneurs have no business diploma, some of them are even school dropouts, the statistics stacked for not succeeding is still staggering. Even the best of ideas in the best people will from time to time need some sanity check. You will find this out to be true in the future whether you have already succeeded or like the majority have failed. Why take chances then.
True, there are the so-called intangibles in a person that makes him succeed at business as though possessing a touch that one can not easily dip a finger into. This is of course a very important component to anyone conducting a business. But then entrepreneurship could be taught and learned, and just like creativity, it could be developed and honed to higher levels.
The entrepreneurial landscape is not easy. It is pock marked and dotted with failures and that includes those who are passionate about what they are doing. It is a highly competitive and dynamic force out there made more complicated by fast changing technology that could revise processes overnight. One of the strongest arguments about not succeeding in entrepreneurship points out to the amount or the lack of investment in oneself at self-discovery. The question is then whether to enroll at an Entrepreneur University or not, rather what field of endeavor what one wants to get into.
You may or may not need an MBA but you could seldom get away without training on managerial accounting and finance, strategic positioning, technological trends, business law, business planning, negotiation, business statistics and economics, marketing, product development and to a degree, global trends to name some.
Some may require so much attention that could require an experienced eye to check out. Take for example a simple business plan.
A business plan as we already know is the blue print at which a business is to be conducted. Whether the intention is to present the plan to a banker or not, the principle is the same. It needs special attention to details. So many times, someone doing a business plan will have his focus on achieving the bigger picture, which is by the way correct, except that details towards its achievement is incomplete (if not too ideal). The information too are sometimes superficial that could only often be detected and remedied by a trained and an experienced professional better yet, most plans could be improved by a more comprehensive training.
Creativity too is very essential in running a successful venture. Now what is that? Creativity is the bulb that lights up a path. It is fun and it is what makes your approach and solutions unique. We all have it in varying degrees but it is an accepted fact that for most of us who wants more of it, creativity could be developed faster in an atmosphere where there is an exchange of ideas and interaction.
These are two of the different aspects that is critical in running a business. Other things could include setting up processes, legal structures, finance and cash flows, recording and records keeping, controls, monitors etc.
The sweet part is that there are Entrepreneur Universities that allows you to taper the course to your immediate and practical requirement and is specific to your needs.
No matter what, those that are critical to running a business and should be offered by good entrepreneur universities may include:
§ Basic Bookkeeping,
§ Basic Business Management,
§ Basic Financing,
§ Business Financial Management,
§ Business Planning,
§ Choosing a name,
§ Choosing people,
§ Equipment and supplies,
§ Financial resources,
§ Legal structure,
§ Operations and Production Management,
§ Public Relations,
§ Record keeping,
§ Sales and
§ Startup Processes
It should also offer and provide training on Accounting/Taxation, Building a Culture/Team
Building Your Company’s Vision, Coaching, Conflict Resolution, Crisis Management, Initial Public Offerings, Growth management, Negotiation, Networking, Personnel and Compensation, Product Development, Strategy, Technology and applications and Venture Capital.
This may sound like a long list, but as mentioned previously, needs could be tapered to individual requirements. One thing for sure though is one does not have to take up a course in an entrepreneur university that may not really be required for an entrepreneurs actual business applications.