Why Entrepreneurship Should Be Compulsory In Schools

 

It is not a surprise where global economy is going. With high unemployment and traditional businesses preparing to improve worker efficiency and achieve more with less; soon, world unemployment stats will start to show some fears(if not showing already). In such an economy, we need more entrepreneurs, more self-motivated people who believe in providing for other people’s need. All of us today have taken education to prepare ourselves for our current jobs. (Though there are always questions about the relevance and quality). Imagine if education framework is used for preparing next generation of entrepreneurs.

 

So, why should education system give way for entrepreneurship in its curriculum? If you are already living a life of an entrepreneur, it is not a difficult sell. In fact you must know more points than I do, but if not, let me give these 5 reasons (out of the many) that come to my mind.

1. Prepping for business 2.0: Compare the size of recent companies with that of companies formed a decade or two ago. It has completely changed today. So, businesses are no longer contained in a giant box of buildings, which could accommodate 1000s of employee delivering value. Current businesses require a lot smaller setup and could hit the ground running at a low capital infusion. So, why prepare the workforce through education for old school company landscape. It is extinct. World is changing rapidly to accommodate fast moving professionals that are dynamic enough to deliver value from anywhere in the world. What could prepare tomorrow’s workforce best, other than the system that produces one.

 

2. Easier to take risks and failures early in life: I am sure you must have heard about fail early, fail fast. I know you must be scratching your head that I am quoting a wrong context here. Take a deep breath and think again. It very well applies here. If students at an early age were given a chance to be entrepreneur and take risks, what worst could happen? Failure? They will still have their life’s prime days ahead to recover from it. These young turfs will have a system of teachers, parents, community mentors etc, wrapped around to help young guns experiment, fail and iterate. So, chances are high that these students will learn the art of failing and iterating at such an early stage in life that entire life will stand in front for them to reap the benefit of it. Compared to us old school people, they will get to experience more failures and get greater chances for success compared to the older generation.

 

3. Expectations are low and energy levels are high: Remember the tender young days and what money could have meant? some extra candies, party with friends and all fun. You were not planning to rule the world. Ruling the world is one of the psychology that kills most of startup dreams. Escalated expectations and failing to meet too much too soon is disappointing. Early age will come to rescue in this regards as well. With smaller milestones, more focus could be given in achieving it. Also, the high energy level that kids have is difficult to match. Rarely anyone could compete with the energy level of youngsters, so why not use it for their advantage. With low expectation and high energy, they are bound to achieve something substantial that can boost their confidence. This is an important ingredient in building their character.

 

4. More time to learn and master the craft: There are numerous times that I have heard (I am assuming you must have heard about it as well) that “I wish I could have done this earlier, I am too old to do it now”. Sure, these are some lame excuses we give to cover our laziness, but sometimes it is coming straight from the heart. Getting a chance to start early will clock more experience to master the craft. World is changing every minute. So, getting students involved early will give them tools and capabilities needed to survive and be successful in this changing world. The methodologies used 50 years ago might not still work, so getting them used to the change early will cause that much needed early intervention in our species to adapt to change.

 

5. A picture is worth 1000 words, it is all practical, makes learning effective: Nuff talk about why it is a good business decision and career wise a sane advice, what about their academic and learning cycles. Remember this famous quote? It is applicable here as well. Having to do something which you would have to do anyways couple of years later would open student’s horizon on what is life like, give them an early sneak peak so that they can prepare well and fail less. Entrepreneurship could teach students things that most of us would never be able to experience and are important for our existence. So, having a subject with life like experience early is nothing but a crash course to life which will give students a better understanding of their world, and how they want to make a dent in it.

 

I am almost tempted to list a few more points around the importance of introducing entrepreneurship at school and what it could do to their education and career. But I am okay with 5th point doing some indirect justice to most of the other points. Having an entrepreneurship course will prepare them better for life and let them see how education could directly impact their life. It may positively impact the drop-out rates once students see the value in education and what it is preparing them for- LIFE.

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