For executives interested in branching out and starting their own business, the UCLA Anderson School of Management offers entrepreneurship courses designed to help them better understand what it takes to make that happen.
“Executives who enter the course have ideas they want to explore either related to their job or not. The course helps them think through the process of whether or not they should give up their job, incur the opportunity costs and strike out on their own,” says George Abe, lecturer and faculty director for the Strategic Management Research (SMR) Program at the UCLA Anderson School of Management.
As they work through the courses, students can begin to better answer questions such as: How do I raise investment capital? What’s the difference between an angel and a venture capitalist? Should I seek outside financing at all? I have an idea, how do I know it’s a good idea?
“They enter school with these questions and we try to be pretty direct on how to answer them. So the way entrepreneurship courses help them is to answer these questions. We do this by having them work through deals and providing examples of best and worst practices,” Abe says.
Smart Business spoke with Abe about how entrepreneurship courses can help prepare executives to start their own companies…”