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There are so many entrepreneurs in the world that offer a wealth of inspiration to young people. From Richard Branson to Bill Gates to Oprah Winfrey, the success stories of entrepreneurs can be inspiring and motivating, which can help young people to achieve their goals.
Beyond inspiration, learning about entrepreneurs and entrepreneurship offers valuable skill-building opportunities and life lessons. Here are just a few of the many reasons why entrepreneurship should be included in the curriculum.
Taking a business idea and turning it into a profitable enterprise takes far more than just hard work. Entrepreneurs have to believe in their idea so that they can convince others that it will work and also keep themselves motivated. If an entrepreneur does not believe in their own idea, no one else will either. This self-belief takes a whole lot of confidence and self-motivation. Entrepreneurship can instil confidence in young people, teaching them how to be self-reliant, resilient and motivated. Confidence will also prepare them for any challenges they may face and also keep them going when things change such as moving from school to university.
Paired with confidence, passion is one of the most important traits an entrepreneur must possess. A business leader’s passion can convince top employees to join a company or convince investors to invest in their business. Passion is also important when convincing clients to try a product or service. Entrepreneurship offers a dynamic and interactive way to engage students, cultivate their interests, and open potential academic or career paths that they might not have known about or considered before. Lessons in entrepreneurship can expose them to a variety of topics, sparking their interest and helping them discover and develop their passions and future aspirations.
Entrepreneurs continually seek ways to improve their products, services, and businesses, even in the face of significant challenges such as budget constraints, time crunches, and small teams. In these situations, they have to use their resourcefulness and quick thinking to ensure success. Entrepreneurship can be used as a tool to teach young people how to use the resources they have at their disposal to make an idea or plan work. Lessons in entrepreneurship can also be individually tailored to help young people to use fewer resources, develop new resources or think out of the box to solve a business challenge. Resourcefulness will teach young people to think fast, come up with innovative solutions to problems, and to be resilient.
From networking to nurturing relationships with customers or investors, entrepreneurs need social skills to help accelerate the development of their company. Social skills will help young people with their interpersonal relations, social interactions and leadership skills. This will always be valuable since interacting with people is something they will always encounter at university or in the workplace. Having good social skills also means that you will be a better leader which will help you to be more successful.
Entrepreneurship teaches young people about the value of collaboration and teamwork and how important it is to work with others to reach a specific goal. In every stage of life, from school to university to the workplace, young people will have to work with other people, so it is important for them to start building their teamwork skills as soon as possible. This will make them more effective in teams which can also make them stand out as leaders and thought leaders.
Entrepreneurship is a useful tool that can be used to educate young people about important financial topics. These topics will give them the necessary skills to become successful adults. Some topics that can be taught through entrepreneurship include budgeting and saving, how to avoid or handle debt, and understanding taxes and insurance. This will equip young people with the skills and knowledge that will need to deal with various things in their daily life – from student loans to life insurance.
As you can see, including entrepreneurship in the school curriculum offers an impactful way to teach young people many important skills that they will use for the rest of their lives.
Entrepreneurship activities can also be found in after-school programmes such as the GT Scholars Dragon’s Den Challenge. This annual workshop takes place during Global Entrepreneurship Week and is based on the world-famous TV show. This gives young people a taste of what it takes to be an entrepreneur, and it involves them coming up with a business idea in a specific amount of time and pitching it to a judging panel. This will provide them with hands-on experience in entrepreneurship while teaching them simple business principles, teamwork, presentation skills, and effective time management.
GT Scholars is a not-for-profit social enterprise and registered charity. We run after-school and weekend programmes that help young people achieve their academic and career aspirations. Our programmes include tutoring, mentoring and enrichment sessions for young people aged 11-18. Contact us if you would like to know more about any of our programmes and courses.