The Best Education Options for the Next Generation of Entrepreneurs

Sep 12, 2018 by

Photo by Honey Yanibel Minaya Cruz on Unsplash

Teachers and educators are tasked with a huge burden – preparing today’s students in such a manner that they will be equipped to take on the huge challenges that await them in the future. Students are our next generation of not only leaders, politicians, scientists and thinkers, but entrepreneurs, too. They are the very people who will drive the world’s economy forward and make our planet a better place to live.

Over the last couple of decades, we have seen the learning model shift from textbooks to laptops and iPads. Education now heavily revolves around technology and it is important that it is incorporated into the classroom in a meaningful way. With technology constantly changing – and, as a result, education options – how can we figure out what today’s students need to be learning in order to lead the way in future? The entrepreneurs of today and tomorrow are going to be a lot different to past ones.

#1: The Future is Uncertain

Our future is full of uncertainty at each turn. However, this defines the type of worker and entrepreneur the world needs: somebody who is flexible, collaborative, and can take a unique approach to solving novel problems. Whilst traditional historic learning models have focussed heavily on mindless memorization of facts and figures, this only creates uniform students who can’t think critically and, unfortunately, this will not help our future.

For tomorrow’s entrepreneurs to be as successful as possible, their education and the educational options open to them must shift the focus away from uniform learning towards things which will help these students break barriers through the application of useful knowledge. This will then encourage said students to go down their own paths in life and make their own careers out of their interests.

For example, say a student wishes to learn a trade. What’s more useful to him/her – knowing how to divide fractions or knowing what contractor liability insurance is? I think we can all agree it’s the latter.

#2: How Does Higher Education Help Budding Entrepreneurs?

When a person’s education is focussed more on their own personal interests and aspirations rather than being uniform, it provides lots of opportunity for not only budding entrepreneurs but any child, no matter what they want to do with their lives. Appropriate and continued college education is crucial for aspiring entrepreneurs because:

  1. It Provides Access to Networking and Relationships

Many higher education institutions such as colleges and universities contribute to small businesses and start-ups through accelerator programs. These programs help to connect these young entrepreneurs to local professionals and business officials who can provide budding entrepreneurs with access to valuable knowledge, information, and other resources, including investment opportunities.

  • It Enables People to Work with Various Backgrounds

As an entrepreneur and leader of a business, you need to be a great people person who can work cohesively with people from all walks of life. Employees, business partners, and investors come from all walks of life, have different personalities and are diversified in different ways. The more diverse a group of people are, the better equipped they are to solve problems and help drive start-ups forward. The college and university environment naturally promotes diversity and provides students with the opportunity to interact with people from all across the globe.

  • College Teaches Leadership Skills

You can’t run a business if you are not a good leader. Given that only 80% of small businesses make it past their first five years of operation, it is important to have good leadership and management skills in order to succeed and avoid becoming part of the above statistic. The good news is that universities – especially business-related majors – teach leadership skills from day one and help turn a student from a shy individual into a strong and bold leader who’s willing to take risks.

#3: Wannabe Entrepreneurs Need to Stay in School

And it’s not just because staying in school provides you with a qualification. In fact, this is the least important factor. When you’re running a business, nobody cares what degree you have or what your GPA is. Education, however, teaches budding entrepreneurs a ton of key transferable skills and the college environment is inherently a strong breeding ground for entrepreneurs to start up their businesses and take their first steps into the commercial world.

With so many bright people tightly packed into one setting, it is no wonder that most of today’s biggest companies were founded in the dorm rooms of universities and colleges across the world. Education isn’t everything, but wannabe entrepreneurs should strongly consider remaining in school and seeing what happens when they go to college.  

College, alongside the internet, provides fertile soil upon which today’s budding entrepreneurs can establish their start-ups and grow them into being the world’s most successful companies as time goes by. It is important that, if possible, wannabe entrepreneurs remain in education so they can benefit not only from said education but also the skills and opportunities which the college environment provides.

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