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Five Entrepreneurial Experiences that must be lived to be Understood

Five Entrepreneurial Experiences that must be lived to be Understood
Monday, 17 September 2018

One of the biggest problems with becoming an entrepreneur is that you don’t really know how the endeavour will turn out until you get started. We’ve talked about the subject before here, but creating an entrepreneurial education that is true to the actual experience of starting a business is difficult, if not impossible. [1] At the same time, the ability to be entrepreneurial is continuously being valued as a positive characteristic and is one of the main forces pushing initiatives, such as Erasmus+ Projects, forward [2].

Discussions on how we can improve chances of success in this realm are frequent; however, the results are varied. Should students be required to take action and, say, raise money? What about having half of participants randomly fail the course (because many times entrepreneurs fail before they are successful)? [3] While these kinds of questions can help us orientate entrepreneurial education towards real life experiences, we must also consider lessons can only be learned first-hand [4].

Manish Dudharejia from the Entrepreneur website sites five truths that entrepreneurs may face during their journey that have to be experienced to understand:

Even if you’re following your passion, you will have to take rests. If you don’t you might end up hating a job that you once loved.
Vet everyone you will work with, especially family and friends. Working with people you know and trust can make things more, not less, difficult.
Make time to nurture your family. While your business is important, consider the ultimate trade-off that may occur if you don’t take care of your home life.
Not all growth is good growth. Here be especially aware of very rapid business expansion as it may lead you away from what you are good at and the quality of your product/service.
What an entrepreneur does is worth more than what he says. If you want people to trust in what you offer, make sure to walk the walk more than talk the talk.

You can find Dudharejia’s whole article here for a more in depth look into why entrepreneurship is more than what is taught at school or in a book.

[1] https://globalspin.eu/news/is-this-what-true-entrepreneurship-education-should-look-like
[2] https://ec.europa.eu/education/news/20170424-teaching-entrepreneurship-in-schools_en
[3] https://www.forbes.com/sites/andrewyang/2016/02/25/entrepreneurship-education-does-not-work/#1f5928a015f8
[4] https://www.entrepreneur.com/article/312554