Entrepreneurship programs are in vogue at universities nationwide, so in academia, at least, the answer must be a resounding yes.
One school of thought is that entrepreneurship is not “an all or nothing ability that some possess and others don’t but rather a ‘range of behaviors’.” If entrepreneurship is simply a set of identifiable and measurable traits and behaviors that are dispersed along a classic bell curve, then the goal of an entrepreneurship program is to take someone at some point on that curve and move her closer to entrepreneurship.
One important goal is to instill a proper understanding of and attitude toward risk. Contrary to popular belief, entrepreneurship is not about a “love of living on the edge” or a cheerful embracing of risk. Entrepreneurs do NOT love risk.
Entrepreneurs ACCEPT some level of risk as a necessary component of reaching their goals. Entrepreneurs may have a higher tolerance for risk than average but in reality a good business plan does everything possible to “de-risk” the situation. This means rigorous analysis of all possible failure paths and coming up with ways to avoid or plans to cope. True entrepreneurs spend a lot of time worrying, thinking about what could go wrong and how to deal with it.
Gregg Fairbrothers, teacher of a popular course on entrepreneurship at Dartmouth’s Tuck School of Business, says that “relentless learning” is the key to de-risking. However, relentless learning requires passion, commitment, and focused and enduring enthusiasm. In other words, fire in the belly, a burning sense of urgency.
The nuts and bolts of most anything can be taught, transferred from one brain to another. Entrepreneurship, however, requires a “do or die” level of dedication that springs from within one’s heart. It is that fire in the belly that each individual must find on his own.
Three Quotes for entrepreneurs:
“Formal education will make you a living, self-education will make you a fortune.” — Jim Rohn
“I have failed over and over and over again in my life and that is why I have succeeded.” — Michael Jordan
“Think you can, think you can’t, you are right.” — Henry Ford