To become an entrepreneur do we need to pursue formal education?
To develop an existing business or creating new a business, an entrepreneur needs to ‘have certain knowledge and set of skill.’ So does an entrepreneur need the education to develop their business? The answer depends on their own need. Which phase their business at and which skill that suitable to expand their business.
In a business, there are three-phase or stages such as early-stage, innovating stages, and exploration stages. In the first phase or early stages the ideation of making a business can be taught, there also a basic knowledge that entrepreneur needs to know during creating a business in the early.
The education or treatment for an entrepreneur in the second phase is different, this phase is focus on innovating the product so the skill set that entrepreneur need is more specific to their product. Then the last phase or exploration stages the skill set becomes more complex. Entrepreneur needs to know knowledge about management and become a manager of their business. The founder needs to change in their developing their industry. Skillset such as fundraising, negotiating and analyzing the market also important to the entrepreneur.
Academia as a facilitator in the education ecosystem
Academia as a facilitator in the education ecosystem can teach entrepreneurs basic knowledge such as skill, mindset, method, and process in business. But the real practice which happened in the field might be different. There is something that cannot be taught in entrepreneurship as a tacit knowledge, it called intention. The intention to create the business and become a businessman. Therefore, as an instructor, we can influence individual and give the inspiration to become an entrepreneur.
“The output of entrepreneur education becomes an entrepreneur, which is having a business”
A great ecosystem for a great entrepreneur
It became not easy to educate entrepreneur because of their different needs. We need an ecosystem to educate them, by providing their business process from the beginning till developing and extending their business. Many parties need to be involved to create a good ecosystem such as academia, mentor, practitioners, expert, and potential investor.
The entrepreneurship program in SBM ITB might become a good choice for those who want to learn the business from a great ecosystem.