Teaching Entrepreneurship: 3 Reasons Starting Student Businesses is the Best Way

Teaching entrepreneurship in college is often a difficult task. Can we, as educators, do what we need to do to ensure that our students fully understand what is needed to start a business from our classrooms?

​The most foolproof way to do so is by integrating startups or student-run businesses directly into coursework.

Teaching entrepreneurship in college is often a difficult task. Can we, as educators, do what we need to do to ensure that our students fully understand what is needed to start a business from our classrooms?

The most foolproof way to do so is by integrating startups or student-run businesses directly into coursework.

“No one learns to play an instrument or ride a bike by reading a textbook. In the same way, entrepreneurial skills are developed by practicing them,” says Justin Wilcox of TeachingEntrepreneurship.org in an interview with Forbes.

In a class setting, students know they have your help and guidance; starting a business in these conditions teaches invaluable skills that can be used for any future business ventures and has a multitude of benefits, including these three.

It Provides Real-World Entrepreneurship Experiences

Nothing prepares students for a future of entrepreneurship in the real world like actually becoming entrepreneurs. By creating startups from the get-go, students are able to fully grasp the process and utilize real-world tools, making them a step ahead when they graduate. 

Students who do not choose to become entrepreneurs after graduation will benefit from this real-world experience, too; starting a business is an impressive addition to any portfolio or resume.

It Builds Students’ Confidence & Leadership Skills

Starting a business can be daunting for anyone who has little business background, like most college students. By providing them with the tools and assistance needed to create something that makes them proud, you are boosting their confidence and increasing the likelihood that they will start their own business down the line.

It allows them to try things and learn how to leverage both wins and losses while knowing they have a more experienced professional ready to help them when needed.

Being an entrepreneur also requires that students develop a sense of leadership. Whether they are working with a group or starting out on their own, they will need to collaborate or work with others at some point.

According to Babson College in Massachusetts, students know that leadership is important, but they have a hard time learning and developing their preferred leadership style; providing this firsthand experience will save them from going through that process too late. 

It Helps Students Develop an Entrepreneurial Mindset

An entrepreneurial mindset is a way of thinking that “equips [students] to recognize opportunity, take initiative, and innovate in the face of challenges.” By harvesting this point of view early in their career path, students will be better prepared to take on business endeavors after graduation. 

Entrepreneurship is not simply as easy as having a great idea and turning it into a successful business.

By creating their own startups, students will better understand that growing a business can be difficult and risky as well as rewarding. The sooner they learn how to overcome hardships, the better off they will be in the future.

Encouraging an Innovative Generation
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No matter how you go about teaching it, entrepreneurship skills can benefit college students of any interest or major. Giving them the tools and confidence to pursue an idea that they are passionate about can have a positive impact on your students and the world around them.

Let’s fuel this generation of graduates to increase and encourage innovation. 

Want to connect your students with a network of Northeast Ohio entrepreneurs and resources to help them bring their best business ideas to life?

​Contact us today to see how your college can benefit from partnership with the EEC.