The battle of either having the entrepreneurial experience or entrepreneurial education still rages on. Entrepreneurs often pick Experience – Being on the streets, selling their first prototypes of products and hustling their way through to their first pay and then slowly growing their companies. As opposed to entrepreneurs who made their fortunes by studying and accumulating enough knowledge from books and academics first, there is also argument that Entrepreneurs need Education as a preparation in order for them to succeed.
Entrepreneurial Experience over Entrepreneurial Education?
In a recent study conducted by Gist.com, a comparison was made to distinguish the Benefits and the Costs for Entrepreneurs who lead their ventures solely relying on their hands-on experience doing business on the streets, or for those entrepreneurs who made sure that they learnt their knowledge from the books first, before embarking on their ventures.
From the Infographic above, we see that entrepreneurial education (from universities like Stanford, Harvard, Oxford) played a bigger part in nurturing business people that can deliver highly valued and highly complex companies while entrepreneurial experience provides the street know-how’s to develop a robust, less sophisticated business (in the likes of Dropbox, Reddit, Scribd, Airbnb). It is therefore left as a difficult argument to judge.
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