by Ian Buchanan

Created on: January 17, 2011

There isn’t a one size fits all approach to this concept. Education, by definition, is a structured and progressive acquisition of knowledge that can be useful across a wide spectrum of activity. Entrepreneurs, on the other hand, are deft at thinking and acting in a non-structured way. They tend to think outside the box, they tend to have ample street smarts, and they can make good decisions based on gut feel faster than a business person who relies on fact-based analysis. Formal education and entrepreneurialism can be an oxymoron, and it is rare to find an entrepreneur rising through the ranks in a large corporation.

Several years ago a meeting took place in the office of a labour relations executive. During a lull when the V.P. had to leave the office, one of the union representatives, scanning the many degrees and diplomas hanging on the office wall, commented “It’s too bad when you have to advertise how smart you are.” This executive had risen to his position largely on the basis of his education that included a Harvard MBA, yet, while he had command of the literature and case studies, he lacked common sense and work in the real world was a constant struggle.

Elsewhere most people know of the salesman who could sell refrigerators to Eskimos. That’s a person with strong instincts and intuition, a passionate player in creating a need in a customer’s mind for a product or service. The entrepreneur is driven to sell something, even an alternative if the primary product isn’t viable. The “game” requires a keen ability to read the customer’s mind, and that ability is largely sensory. No matter the field, an entrepreneur is engaged in a battle of wills. Sales and marketing people have access to hundreds of courses and seminars about selling techniques, but a true entrepreneur sees potential far beyond that.

A genuine entrepreneur can only be self-employed. Structure drives them crazy, and fulfilment can only be reached by creating an independent entity where they make the decisions based on how they read their market opportunities. Companies always need specific assistance in areas like accounting, human resources, and law, but entrepreneurs will buy these services rather than detract from the business itself.

It is better for an entrepreneur to develop a network of acquaintances and cultivate a few mentors than to be frustrated trying to fit the business into the template of formal education. Experience and instinct are the essence of this spirit, and these aren’t taught. Essentially entrepreneurs are born, not made, despite the value of formal education to the world at large.

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