Shakespeare told us that the course of true love never did run smooth. And the same could be said about entrepreneurial success. On a daily basis, entrepreneurs have to battle uncertain climates, bigger and established competitors, cash flows challenges and untrustworthy suppliers; issues that don’t just affect them, but their employees, investors and families too.
To reduce the uncertainty of the path of entrepreneurship, many aspiring entrepreneurs choose further education with an entrepreneurship masters to learn some of the common pitfalls in the hope of striking it lucky. But with so many options to choose from, choosing the best masters in entrepreneurship can seem as difficult as launching a billion dollar startup! To make sure the master’s programme will help you get closer to your dream of being a successful entrepreneur, we share the 5 most important questions you should ask when choosing a school of entrepreneurship…
The 5 most important questions to ask when choosing a school of entrepreneurship
1. Is the program highly practical in its approach?
In order for your masters in entrepreneurship to be as useful as possible for your future career, it’s important that you learn not only the concepts of entrepreneurship, but how to successfully apply these to the real world. When choosing a school of entrepreneurship, look closely at the curriculum and ask as many questions as possible to understand exactly how it’s taught. Is there a focus on learning by doing? Do you get the opportunity to frequently work on real-life start-up projects? Does the school of entrepreneurship teach solid management practices built upon evidence-based entrepreneurship? Do you get the chance to meet entrepreneurs who share their journey to success and what mistakes they made along the way? All of these questions and more will be very important to weigh up what real-life value this entrepreneurship education will give you.
So why is the pedagogy so important? Because in order to prepare yourself for the immense challenges of entrepreneurship, a good understanding of the process of entrepreneurship, why it fails and why it succeeds could be the difference between your own future success and failure. It is also important that when studying previous entrepreneurs, you understand the context in which they were a success or failure, in order to extract the key learnings applicable to your own situation.
2. Does the program have an international focus?
An entrepreneur with a global business mindset will see broader opportunities than someone without. Whether this is through discovering a solution to a global problem, or expanding your business to new international markets, this global mindset comes from having the opportunity to experience entrepreneurship in different contexts and cultures. Studying internationally will also give you the opportunity to create a global network which you can call upon when preparing to grow your business internationally. Plus, if you have a family business that is seeking to expand internationally, studying abroad is a great way to understand more about a market’s business structure, how customers think and behave, as well as how to source suppliers and partners for your family business expansion.
Consider a school of entrepreneurship that offers you the opportunity to study entrepreneurship in more than one country or attend international learning trips. At the very least, look for a school of entrepreneurship that attracts a high diversity of students. This will ensure you will work on projects with globally diverse teams who will bring a range of different mind-sets, knowledge and experience to the table, therefore providing a unique perception to the problem.
3. Can you develop your own startup projects?
You don’t need to arrive on day one of your entrepreneurship master with the killer start-up idea that’s going to revolutionise the world (although if you have one, great!) However it is important that the entrepreneurship masters degree you choose gives you the opportunity to develop your own start-up projects throughout the curriculum. The chance to experience the process of entrepreneurship, learn from your mistakes, try out new ideas and hone your entrepreneurial skills, all whilst operating in a completely safe, risk free environment is of unquestionable value. A good school of entrepreneurship will encourage you to make many mistakes, because trial and error during your masters in entrepreneurship carries much less risk and cost than in the real world.
4. Is the program taught by a well-respected school of entrepreneurship?
When embarking on your journey of entrepreneurship education, you want to be sure you have chosen the best school of entrepreneurship for your individual needs. Check out which resources the school has at its disposal, such as business incubators to develop your start-up concept, a strong alumni network of entrepreneurs you can call upon for advice, as well as excellent teaching and research facilities in the field of entrepreneurship.
Consider the official rankings, but base these on whether the program is a good fit for you personally. To help with this, speak to members of the alumni network to understand how the school of entrepreneurship opened doors for their success as an entrepreneur. Was it their own professional network from the masters that got them their first break? Or was it the school of entrepreneurship’s approach to hands-on learning that prepared them for the real-world of entrepreneurship? Then use these factors as your search criteria, therefore ensuring the investment of your time and money will be worthwhile.
5. Does the program teach you more about entrepreneurship than just launching a start-up?
Being an entrepreneur isn’t just about launching a start-up. There are many forms of entrepreneurship, including working for or taking over a family business, being a social entrepreneur to develop the growing world of non-profits, or being an ‘intrapreneur’; someone that takes on a highly innovative, dynamic role within an existing organisation. Look for a masters in entrepreneurship program that exposes you to different forms of entrepreneurship, giving you the broadest range of opportunities to excel in your future entrepreneurship career.
Plus, should you decide to follow the path of ‘intrapreneurship’, a masters in entrepreneurship can provide you with highly employable skills that will make your resumé stand out from other talented candidates. Organisations need innovative, dynamic thinkers who are able to constantly bring new ideas to the table in order to compete in increasingly competitive, unstable industries. The right school of entrepreneurship will teach you how to think innovatively to solve a business problem, work as an effective team, present your ideas convincingly to gain key buy-in and persuade others to invest in your concept; all vital skills for future leaders in organisations.
Study entrepreneurship at 3 world-leading schools of entrepreneurship; in France, China & the US!
We know the importance of choosing the right school of entrepreneurship for your future success as an entrepreneurship. That’s why the Global Entrepreneurship Program teaches entrepreneurship at 3 world-class institutions for entrepreneurship! You will study across 3 continents: EMLYON Business School in France, Zhejiang University in China and Pace University in the US. The advantage of this unique study experience is to benefit from the world’s best entrepreneurial teaching in three diverse global markets, giving you a truly global entrepreneurial mindset. You will have access to the leading teaching faculty, alumni, entrepreneurship events, incubators and research centres of three institutions to support you with your entrepreneurship ventures.
- Study entrepreneurship at 3 world-class institutions for entrepreneurship: EMLYON Business School in France, Zhejiang University in China and Pace University in the US
- Study, live and work with a diverse international cohort from all corners of the world!
- World-class pedagogy that focuses on Action Learning preparing you for the real world of entrepreneurship
- Teaching by both expert professors in entrepreneurs and entrepreneurs
- Work on Startup Projects in each continent, including the chance to develop your own start-up
- Expert Career Services and support from EMLYON’s Incubator to help you achieve your entrepreneurial career objectives
Discover the Global Entrepreneurship Program