B-schools and MBA courses have recently begun focusing more on entrepreneurship as a course as more people want to enter this field. However, there are very important skills and tricks of the trade that school/colleges don’t teach you which form an important part of this field and are required to succeed.
Here are 5 things no B-school can teach you about entrepreneurship:
It is only fitting to start with a virtue which no school or college can equip you with. Multitasking is an important skill which needs to be mastered by every entrepreneur because you won’t be stuck at a job with just one task. However, time management and prioritization are the more important skills which are conveniently not taught in your entrepreneurship course.
B-schools will rave about theories which you are likely to forget once you are out. However, no school teaches you how to deal with bosses, difficult people and clients in general. Interacting with different kind of people is a skill which one needs to learn and practice in order to succeed at the job and the worst part is that you need to learn it on your own.
No business model is perfect
You are taught a million business models to choose from and a professor is most likely to harp upon a single one which he thinks is fitting for any company. However, this is all a farce and there is no model which can apply to all businesses. Each business is different which is why their model and treatment needs to be unique as well.
Sales, marketing, business are all important aspects but one thing that every school overlooks is the study of human mind and behaviour. If you study basic psychology or sociology, you are better equipped to understand why and how a client, VC or a customer is likely to behave in a situation which gives to ample time to come up with a solution.
Failure is difficult
Failure might be mentioned in passing in your college and how to tackle it might also feature in your course. However, in practice, it is actually more difficult and requires immense patience and willpower. It is okay to take time off and brood after a setback because it is never easy to deal with one.