Entrepreneurship Education is Evolving
Lean start-ups. Crowdsourcing. Crowdfunding. Business model canvas.
Those were all trends discussed during a recent review of entrepreneurship curriculum that I attended. The review brought together eight key stakeholders involved in entrepreneurship with interests in advancing the education of aspiring entrepreneurs.
They discussed the knowledge and skills entrepreneurs needed in an economy that’s changing quicker than ever and what that means for the future of entrepreneurship. I explained how DECA provides a practical, problem-based approach to helping teach entrepreneurship.
Here are some of my key take-aways from the day.
- Resources are more readily available, minimizing the barrier to entry. Today’s entrepreneurs have technology at their disposal making a path for lean startups. This means that practices like crowdsourcing and crowdfunding have become more common to help entrepreneurs tap expertise resources and gather smaller amounts of money from many more people.
- Business concept vs. business plan. Most of the day’s discussion focused on the importance of first developing and testing a business concept. One trend is to use a business model canvas to develop a concept and then gather feedback before developing a full business plan. After all, if customers do not want the product or service, why develop it?
- We have to look beyond our borders. The internet creates a much wider audience of ideas and distribution channels that weren’t available even 10 years ago. Entrepreneurship is global.
DECA is a great resource for entrepreneurship education, because we provide a full spectrum of activities – everything from opportunity recognition to constructing a business concept to developing a business plan to creating a plan to grow existing members. Yes, a growing number of DECA members currently own their own businesses, and you’ll get to read about some of them in the November/December 2013 issue of DECA Direct.
Of course, everyone’s definition and views of entrepreneurship are different, but that’s what fuels entrepreneurs. This discussion was a great precursor to Global Entrepreneurship Week in November.
Follow Chris on Twitter @decachrisyoung.