Nuances of handling student entrepreneurs
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India is seeing an increased interest in entrepreneurship. National Entrepreneurship Network has played a large role in creating and catalyzing this initiative. Faculty across campuses are now facing extreme challenges in handling this enthusiasm and interest. Here are some tips recently shared at an NEN Event, on how faculty can carefully nurture entrepreneurship on campus.
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Nuances of handling student entrepreneurs
- 1. Nuances of handling student entrepreneurs Raj Shankar http://rajshankar.wordpress.com
- 2. • Assessing Risk Appetite It is individual Are they the Steve Jobs type? Are they taking it up to make a career? Bringing together teams with similar risk profiles Understanding this can help you guide students on the nature of opportunities to tap and creating teams too! National Entrepreneurship Network
- 3. • Handling CID Syndrome Students experience Chronic Ideation Disorder (CID) Faculty has to channel student efforts Being soft but firm Channeling with tools and reviews If this is not controlled, most students end up fantasizing on ideas and do only that! National Entrepreneurship Network
- 4. • Enhancing Exposure Sharing fresh web resources regularly Running documentaries, videos, talks, etc Making presentations on macro trends (which lead to new opportunities) Making them think beyond boundaries Only big problems enable identification of big solutions! National Entrepreneurship Network
- 5. • Searching for Opportunities They are not causes, but outcomes Helping students look for changes Helping students look for problems / challenges Helping students look for needs / wants Enabling interviews, tours, visits, interactions, etc in search of problems worth solving Doing this will provide food for ideation! National Entrepreneurship Network
- 6. • Root Cause Analysis Ideas are superficial Opportunities are confused with ideas Asking questions using the 5 Why technique or the 4H 1W approach to understanding the real idea / opportunity can help Will reduce quantity of shallow ideas and students who are not serious taking our time! National Entrepreneurship Network
- 7. • Handling their emotional quotient High emotional attachment to idea Require tools / techniques to make them understand the flaws in their solutions Give them tools and techniques to improve their ideas and thinking (7 Domains) Listening and leading the thinking by being firm on objective usage of tools helps handle strong emotions from students! National Entrepreneurship Network
- 8. • Make students have logs Writing down during meetings should be encouraged Meetings should show progress or stagnation (this can make the teacher’s job easier) Helps enhance effectiveness Not having a record of meetings / out of class work, results in lot of work, but little results / movement! National Entrepreneurship Network
- 9. • Always keep the lifecycle at the back of your head Bucket students in the venture lifecycle Move them once they reach a certain stage to the next Don’t move them until they are really on to something Helps us know how many we have in each bucket for showcasing ED on campus! National Entrepreneurship Network
- 10. • Don’t Answer, only lead to answers Very difficult to practice Enables students understand think more about their ideas / ventures Lead them to analogies / cases and ask them to search for answers Helps us not influence (maintain distance with the idea) the venture with our experience! National Entrepreneurship Network
- 11. • Result is increasing the funnel Moving more students into the funnel Making them go all the way to the other end Increasing the success rate of those who get started Mentoring and supporting them beyond the campus by networking / linkages Showcasing them back on campus and elsewhere Patiently waiting since results take time! National Entrepreneurship Network
- 12. • Interested over Interesting Biggest problem in entrepreneurship Leads to lot of noise and no action Helps being objective during discussions Leads to results as a faculty as well May not lead to being popular in the short term but will be remembered for life! National Entrepreneurship Network