Here’s a prediction for 2017: Interest in entrepreneurship remains as high as ever, and students will clamor to get into entrepreneurship courses. So you’ll want to make sure you bring your “A game” to these eager future entrepreneurs.
These resolutions will help you make sure you’re covering both the fundamentals of entrepreneurship and the cutting-edge innovations you and your students want to know.
1. Challenge students to think big
Are your students’ ideas for new businesses limited by being in an environment where innovation and success seem impossible? Challenge students to think beyond their own experience to see larger opportunities.
2. Challenge students to think practically
On the other hand, are your students envisioning pie-in-the-sky concepts that don’t have an addressable market, have insurmountable competition, or are financially impossible? Bring them down to earth without shattering their dreams.
3. Be real-world based
Entrepreneurship is the most exciting course a student can take. Don’t make it boring by using content—texts and tools—that are dull and needlessly “academic.” Make sure you’re bringing real-world concepts: “do-it-now” actionable exercises and content, contemporary examples.
4. Launch a business plan competition
If your school doesn’t have one, start a business plan competition. Working through the fundamentals of a strategic business plan is never old and equips students to fully understand what it will take to bring an idea to fruition.
5. Make sure students understand financials
At the end of the day, business is still about money—so every entrepreneurship student should know how to create, read, and understand key financial statements.
6. Keep up-to-date
The world of entrepreneurship changes quickly, especially with disruptive technologies appearing with unrelenting speed. Read all you can, talk with other educators, and network. You’ll find our list of entrepreneurship journals and conferences here and our LinkedIn group for entrepreneurship educators here.
7. Model leadership behavior
Tackle challenges, stay optimistic, and show gratitude. Entrepreneurship requires more than just a great idea—it requires a certain mindset as well. To grow a business, entrepreneurs need the tenacity to see their great ideas through, a positive outlook when others around them can’t quite see their vision, and the ability to work well with others. Be a role model for your students.