I remember reading an interesting article in The Freeman not too long ago about the problems local universities are having with offering entrepreneurship courses. It seems that there is a general apathy or lack of interest in enrollment in earning a degree in entrepreneurship. This is a bad trend especially in light of today’s economy. We need more entrepreneurs to not only stimulate but to grow our economy. But what could be the reason for this trend?

I used to tell young people that the problem facing them wanting to become entrepreneurs boils down to being taught the ABCs. A for Are you sure? B for Better be sure! And C for Cash, where will you get it?  I remember asking my mother for five thousand pesos to put up my first business, a hot dog stand together with my best friend. It took her a long time to say yes, again because of the ABCs. The hotdog stand may not have been as successful as I wanted,  but the dreams and  lessons I learned from that experience are still being put to use now.

So based on the ABCs, young people are already given the mindset that they cannot do it. How can schools encourage young people to study and become entrepreneurs, especially in these trying times?

In a recent article, United States Association for Small Business and Entrepreneurship (USASBE) President Jeff Cornwall wrote that there are several key points needed in teaching and preparing young people for entrepreneurship. The USASBE is the leading organization for entrepreneurship education in the US. He emphasizes three critical areas in teaching:

Realism – “There is a trend in teaching entrepreneurship to interject more experiential learning.  This is a very unforgiving economy right now.  In the past, we saw countless entrepreneurs who seemed to be able to succeed in spite of themselves.  In a recession like this one, there is little room for error and not as much luck floating around.  We need to prepare our students well to hit the ground running.  The more we can build experience into what we do in our entrepreneurship programs the better.  Our students must have a high degree of competence the day they walk across the stage at graduation and become alumni.”

Ethics – “There is a growing backlash against the arrogance and gluttony of business leaders.  In preparing the business leaders who will most likely lead us out of this mess, we need to help them understand their responsibility as stewards of the resources they have been given to work within their ventures.  But, I believe that they have an even bigger responsibility.  We need them to become stewards of the free market system.  Market capitalism as we know it is under intense scrutiny due to the foibles of so many business leaders.   We have to regain the people's trust in free markets.  We must train not only competent entrepreneurs, but good entrepreneurs.”

Inspire – “If past patterns hold true, we can expect more students looking to entrepreneurship as a career path.  They look at the job market and see very little opportunity, so they turn to us to find their own way in the economy.  We will no longer have only self-motivated, highly driven aspiring entrepreneurs in our classrooms.  We will have many more who are reluctant entrepreneurs.  More than in the past we will have to inspire our students that there are opportunities and that they do have what it takes to be successful.”

I agree most especially in the last point , Inspire. The general apathy is the result of their lack of belief that they can be entrepreneurs. That is where we need to show them the possibilities. We need to inspire dreams.

Ralph dela Fuente, a customer service representative for Convergys Ortigas really hit the nail on its head with his letter to Youngblood in PDI yesterday entitled “Nursing Dreams”. Ralph graduated  BS Nursing but against pursuing it because he wants to be an entrepreneur. He writes about the pressure he gets from family and friends who view nursing as a stepping stone to riches and a green card in the United States. He faces the disappointment and lack of belief from his close circle when he discloses his entrepreneurship dreams.

He said it best , “People might say that my dreams are worthless or I’m being immature, but who doesn’t dream? Personally I think dreams are among those things that make us human. And with the kind of drive and motivation I have, nothing can stop me.” 

Let’s follow the examples of these ordinary individuals as they strive to make a difference. Each week, lets all get together and share knowledge, stories, experiences, information, all for the sole purpose of getting One Step Up.

 For comments, suggestions or stories that you want to share, email me at stirspecialist@gmail.com ,  or visit  www.stirspecialist.blogspot.com