5 Entrepreneurship SecretsThey Don’t Teach in School

When it comes to starting a business and making it fly, there are certain skills you only learn from experience. Discover the five entrepreneurial secrets you won’t discover inside the four walls of a classroom.

by Leah C. Eriguel, 03 October 2017

When it comes to successful entrepreneurship, experience is your best teacher.

When it comes to entrepreneurship, most of the classes they teach in college are based on theory rather than application. But outside school confines, you also need street smarts to succeed as an entrepreneur, or at anything you want to be, to be honest. Here are five practical, real world skills they don’t teach you in college that will help you succeed in whatever venture you wish to pursue.  

1.  Learning from Your Failures
An exceptional businessman knows how to leverage his strengths to overcome his weaknesses. But you can only know how to do this once you have learned from your own experiences and the experiences of others. You need to experience failure first so you can reflect on your mistakes, learn from them, and avoid repeating them in the future. 

2.  Knowing How to Read People

To launch a successful product or service, you need to think like a customer first. Conjure up their desires, understand their needs, envisage their demands. By doing these, it will be easier for you to tell them why they need—want—your product/service. College classes don’t teach you how to read people, much less how to deal with different characters and personalities. When you understand how another person, say, your customer, is thinking or feeling, you can fine-tune your product, and how to market it, to make sure it is received by the customer in the best way possible. 

3.  The Ebb and Flow of Right Timing

Timing is everything, they say. That’s why it’s critical in setting up a business, too. Is the market ready for it? Are you ready to start it? Is the economy stable enough for it? Because if not, all your best laid plans will be for nothing. While college professors may discuss “timing” in their courses, nothing compares to you being out there, feeling and testing the ebb and flow in business for yourself. Real-life experiences are necessary to learn the unique timings of business and to get it right. 

4.  Controlling Perception and Reality
Learn to present yourself in a professional manner. Leaving a strong first impression counts.        A bad first impression could make you lose a potential sale. Make customers trust you by presenting yourself as effective and mature. Confidence is key because that builds trust in clients. Be yourself but also learn to craft a personable and positive persona. This isn’t something you’ll learn in college because it takes time to build rapport with clients/customers, and to develop a professional manner that is credible, trustworthy, warm, amusing but not too casual either. How to do this? Earn their trust by doing what you say. Keep your commitments and always follow through.  

5.  Following Your Passion
Great entrepreneurs are committed to following their passion wherever it takes them.  Entrepreneurship requires commitment and belief. Believe in your passions and others will follow. Passion isn’t taught in college. Once you realize what your passion is, follow it and let it lead you to happiness and success!