#1 Entrepreneurial Pivot for More Unicorns…Anywhere

Should entrepreneurial development infrastructure such as business schools, incubators, and area developers focus on VC-based entrepreneurship to boost an elite minority?

Is entrepreneurship wasting educational resources by teaching VC-based entrepreneurship to entrepreneurs and students who need to know unicorn entrepreneurship?

Entrepreneurship training today mainly teaches:

Small business – but do you need a four-year degree to develop your small business?

· VC-based entrepreneurship assuming that VC is necessary for the development of growth ventures. Therefore, many business schools teach innovation, viable products, business plans, and VC funding. Organize business plans and pitch competitions. and Shark Tank.

But is VC-based entrepreneurship the right direction, especially for the 99,98% who don’t fit the narrow profile and requirements of the VC industry and the 100% who don’t get VC before Aha, ie proof of what’s possible? ?

· VC is privileged capital. It funded ~100/100,000 ventures and will do so after Aha. Am I Missing You? (Know the Truth VC)

・VCs are active mainly in Silicon Valley. An analysis of an $85 billion entrepreneur found that 88% of Silicon Valley entrepreneurs used VC. However, most of them used their skills to delay the VC until after takeoff. Should entrepreneurship teach skills and smart strategies to get to Aha?

· Outside of Silicon Valley, 91% do not use VC. They used skill, smart strategy and capital as a tool. Should entrepreneurship teach skills and smart strategies to grow without VC?

Entrepreneurship development can be done more effectively in the following ways:

· Teach capital-efficient unicorn entrepreneurship, not capital-intensive VC-based entrepreneurship. Unicorn-Entrepreneurship allows entrepreneurs to learn to grow without wasting time and opportunities seeking VCs, only to be rejected. VCs turn down about 98-99% of entrepreneurs seeking funding.

· Emphasize skills, not ideas. Entrepreneurs need to go aha to be taken seriously. The unicorn entrepreneur mostly got to his Aha and used his financial prowess strategy and skill to beat the first movers.

· Encourage a skill race to make capital smart, not a pitch race for capital. Pitch competition assumes that a wise judge can pick a winner. But the smartest expert in the startup business, a VC waits for his Aha, proof of potential, before failing in his 80% of ventures. So why are pitch competition judges able to do better? Aha before no one can assess skill.

UE can drive the growth of ventures everywhere, especially in business schools and community colleges that don’t stand out on the VC radar. By teaching financial smart skills, entrepreneurs can prove their potential based on actual performance, not pitch performance.

Making VC more available may only mean more VC loss. It is said that the top 3% of VCs get 95% of VC returns. VCs need unicorns to get high returns. Increasing the number of VCs and the availability of VCs is unlikely to increase the home run without fostering more unicorn entrepreneurs.

My opinion: Teaching unicorn entrepreneurship does more than increasing VCs if the goal is to create more unicorns in underprivileged communities and women-owned ventures outside of Silicon Valley. can be done. Without Unicorn-Entrepreneurship, entrepreneurs can waste opportunities waiting for capital that may never come. If the goal is to build more unicorns, entrepreneurship development must stop promoting pitch competition and start developing skills competition in all communities, rich and poor. Universities outside of Silicon Valley should stop following the Silicon Valley VC model popularized by Stanford University and focus on developing financially savvy entrepreneurs rather than capital-intensive business plans.

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