Helpful for: MBA Applicants, Entrepreneurs
Read Time: 8 minutes
- Many universities such as Vlerick Business School offer short courses, or boot camps, during the MBA, which provide new perspectives to challenging issues facing our world today. In Harmut’s case, he took part in a three-week renewable-energy boot camp—the experience leaving him with the belief that 100% renewable energy is possible. He shares:
The overall objective of the boot camp was to give students in-depth, practical knowledge of how to set up a renewable energy business. Central to the experience was the chance to work on a real-life energy business case with Durabilis, an “impact investing” company that works in a number of developing countries. We were given the challenge of producing a robust business model and a plan to invest in a renewable energy start-up in West Africa. Throwing myself into the task, I quickly realized that not only is the sector dynamic, it also attracts diverse stakeholders.
- While being immersed in the range of opportunities an MBA presents, having a clear vision of what you would like to achieve once you graduate will make your entrepreneurial dream a success.
- Harmut reminds us that it is vital to have a strong network in the region where you are planning to develop your next business project, which includes potential financiers and distributors.
- Avoid taking an inside-out view when establishing your business. Harmut gives us an example of this failed approach: using current technology and Western methods when entering a new market in the developing world. Try to tap into the way things work locally, even if it takes more time in educating yourself and others. Instead of pushing for dependency, establish a system in which individuals would be able to be benefit from the service or product independently.
Check Out: Careers in Entreprenurial Management (Video)
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Source: The Economist