Adrie's Blog

Education

Education is a topic close to my heart. I started working at a young age myself but realised quickly that without a proper education, it is hard to manage in today's society. I proceeded to take further education and a broad variety of evening studies, all in my own time. I am a believer in 'education' being a permanent feature in everyone's lives, not something that you leave behind as you close the classroom door on your final day at school.

Today there are many studies and business schools around the globe, which is great. Yet, I often have the feeling that most of these students disappear into the corporate world. Those that become entrepreneurs often have not had the right education or worse, possibly even had too little learning. It isn't about intelligence, but more a result of upbringing or environment, or the way learning is presented and its content. Usually in a way that goes against the grain of an entrepreneur.

As a coach/mentor on E.Factor and from my long career as advisor of starting entrepreneurs, it strikes me time and time again that it is a pity that there or no, or insufficient, studies for entrepreneurs in a format that appeals to the business owner, created by people that have been there themselves. Short modules, given by entrepreneurs (successful or not! There is a lot to learn from failure too), given via streaming media, and possibly supplemented by more traditional teaching methods - and of course in the evening or on a Saturday. Education that can be taken when it suits the recipient, their time, their place.

In todays world much is being asked of an entrepreneur, and the complexity grows hand over hand. For example, you have to know and understand:

Regulation (by your government or those in the countries you wish to operate in)
Marketing, social media - like Facebook, Twitter and E.Factor
Fundraising
Financial regulations
Compliance
(Exit) Strategy
HR

In short - too much to list here. Mistakes you make as an entrepreneur often cost much more time and money then that which you would have spent learning. And in the case of a starting entrepreneur - the mistake is often fatal. From my own experience I know that no real entrepreneur will let the lack of knowledge stop him/her from starting his/her business - it is their nature and of course you will learn a lot along the way, as I did. Raising money, doing take-overs, selling a company... but it is a relief to not have to ask what your accountant means, when you are working on your budget or balance sheet, or check back with your lawyer after an important take-over discussion. That lack of knowledge can cost you a lot of money and usually entrepreneurs only start with one single venture so it is key to get it right the first time. Even though you may have the best advisors in the world, eventually you will have to make the decisions and take your responsibility and it is best to understand the fundamentals yourself so you are warned before you walk into a gaping hole with your eyes closed.

With regards to education in a format suitable to (starting) entrepreneurs, usually with little time (and money) - I would love you, reading this blog, to let me know what ideas you might have to would work for you.

adrie@efactor.com