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Introduction to Entrepreneurship Development
Entrepreneurship development is a procedure where the knowledge and skills of the entrepreneurs are improved via multiple classroom and training programs. And the basic idea behind this program is to grow the number of entrepreneurs in the world.
With the help of the entrepreneurship development programs, the pace at which new ventures or businesses are created becomes a lot more better than it was before the program. And if we look at the larger picture, this program creates rooms for employment and enhances the economy of the country as well as the business.
In short, you can help the country by creating an entrepreneurship development program and assist in growing the economy of the country. For creating an effective program and improving it to help the entrepreneurs grow, you would have to follow the following steps and tips that have been shared below:
Describe the goals of the plan and concentrate entirely on the entrepreneurship development
The entrepreneurship development program should focus on those people who want to start or grow their company. And since it is also conducted to enhance the potential and ideas of the entrepreneurs, everything related to the entrepreneurship world has to be explained.
For the program to be successful and reach its full potential, the objectives and goals have to be explained clearly. Moreover, the venture development also has to be described in the program outline for giving a much clearer picture of what would be done during the program that would also allure the genuine learners. Without these two above-mentioned points, the aim of the overall program would not be clear.
Choose professionals who have a high entrepreneurial potential
In an entrepreneurship development program, various kinds of people are chosen to be a part of it. Nevertheless, many of these programs mostly seek a particular group of people who are educated in a specific field instead of targeting everyone for the program. Generally, we need to see the education and the qualities of an entrepreneur that should be in a person and then pair it with those who have joined the program.
A lot of people usually say that the fund of the public should be used for those who need to be helped the most. And for the entrepreneurship development program, the resources are unfortunately limited most of the times. Due to this, it is normally better to select those people who would prove to be the right ones and who would actually turn out as an advantage for the community.
In short, choose those who have the motivation, skills and knowledge for the program if you do not have an abundance of resources for helping anyone and everyone to become a successful entrepreneur.
Choose people who have a high entrepreneurial potential and are uneducated
To explain this point, let us take a live example. There was an entrepreneurship development program that was conducted in Nepal for the women. In this project, it was noticed that those women who were not able to meet the needs of themselves or their family were the ones who were more keen to study the various methods of earning money as compared to the women who were already doing better in their life. Despite this, these uneducated women normally face a lot of problems, if not trained well or not trained at all.
Although these women are uneducated, their excellent entrepreneurship potential makes them stand out, and it exists due to the right motivation that they have got for becoming an entrepreneur. This kind of people have to be trained and assisted with the help of the entrepreneurship development program so that they can use their motivation in the right way. This would help them gain confidence and train them with the right skills that they require to give the best to their family and the community.
Recognize the local market & look for those who have potential in it
The basic step of the entrepreneurship development program’s beginning should be identifying the local market and then aiding those people who know a lot about entrepreneurship and the professional entrepreneurs. These people who are chosen for the program have to be able to interpret and then create novel ideas that are entirely based on the requirements of the surroundings.
By focusing on some selected local entrepreneurs, the outcome of the entrepreneurship development program would be seen faster and easily within the community after the program has been completed. Moreover, there need not be a restriction in the number of programs to train the entrepreneur. More entrepreneurship development programs can be conducted where their knowledge can be improved.
Overall, what matters the most is not the size of the market but the thirst for innovation and creativity. The next programs can include the introduction of the products and its features, which would eventually add the value and increase the market’s size.
Render assistance via the private sector-based companies
The support and assistance for this program can be obtained from the private organizations which are the knowledge and financial based ones. With this support, you would be able to reduce the overall price of the entrepreneurship development program and increase the effectiveness.
Those private organizations that have the resources to assist and support the entrepreneurship development programs are the NGOs, consulting companies, and universities. Huge enterprises have encouraged the assistance for these entrepreneurship development programs since they feel that their sponsorship would assist in reducing the unemployment.
This opens a lot of option in case you are planning to initiate the programs and assist entrepreneurs to become more professional and create startups that would help the economy of their personal lives as well as the country.
Offer a detailed yet straightforward methodology which would assist the entrepreneurs in improving in the long- and short-run
The entrepreneurship development program should be very straightforward so that everyone can easily comprehend and teach those skills to the crowd allowing the entrepreneurs to understand and eventually utilize the outcome or lesson in their venture after the program ends.
It should also have the courses that concentrate on developing the ideas and abilities of these entrepreneurs. These skills are needed if the entrepreneurs want to utilize the local market favorably, and it is better to keep this prepared as an option for such entrepreneurs.
In this entrepreneurship development program, the learning entrepreneurs also have to be taught the method for gathering the needed resources that would help them meet their business venture. The program should also have the main outline of the different ways through which they can enhance the performance of their company.
The entrepreneurship development program is highly effective only when the productivity, marketing, quality assurance, and finance are linked to the training program. For example, you can involve the banks in the program to share their business plan and everything with the candidates in the training session. This would help them understand the credit process and they would also praise the bank for their business plan.
Execute appropriate steps to enhance the value of facilitators and trainers
If you want the entrepreneurship development program to be successful, the trainers and facilitators have to be committed and provide an excellent quality service. Moreover, the facilitator or the trainer in the program has to comprehend the lifestyle and the culture of the group they are training for integrating themselves better and serving the group properly.
The choice of the right trainer should be based on the knowledge they have about the local business environment and the amount of experience that they have in the field. And if these facilitators are trained before they train the crow, it would enhance their usefulness in handling the requirements of the entrepreneurs.
For the pilot entrepreneurship development programs, the selection areas have to be right
This program is normally limited regarding the people who are involved in the program and where it is done. And choosing the pilot target areas would normally depend on how easy it would be to obtain the support form the institutions available.
Moreover, it would also be based on the number of people interested in taking the entrepreneurship development program. And if these facts are considered properly, that is when the program would be successful since these facts are never the same for any two places.
Launch pilot entrepreneurship development programs and expand as needed
Examining the pilot usefulness is an efficient process of beginning a significant entrepreneurship development program. In case the program has any hints of becoming a hit and successfully increasing the number of successful entrepreneurs, it can use started on a national level.
And if the program relies on the sponsors for resources, and not on the support from the donors, the entrepreneurship development program would be able to cover a much more area rather than just the locality. Moreover, the quality of the program would also remain to be the best one.
Government Policies are needed in a successful entrepreneurship development program
With the help of the entrepreneurship development program, the economy of the country would grow, and this would increase the number of new jobs as well. The government policies have an enormous influence on the count of entrepreneurs in the country. Hence, it is vital to have them included in your program.
As a matter of fact, it would not be easy to include them since many governments claim that they support the entrepreneurial businesses, but there aren’t many specific programs and policies for them. You would need to search a lot to find out the policies.
Preparing an efficient entrepreneurship development program might not be something that is easy, but it is not impossible. And if you carefully follow the points mentioned above, you would create an outstanding entrepreneurship development program that would benefit the entrepreneurs and their companies in the long-run.