An entrepreneurs foundation is a forum of group of individuals interesting in setting up a business or who have ventured into start-up businesses. The principal objective of these foundations is to share the wealth of the entrepreneurial knowledge and skills for the benefit of entrepreneurs. These foundations also enable entrepreneurs with other accomplished as well as budding entrepreneurs to learn from each other.
Since successful entrepreneurship is based on an individual’s visions, decisions, knowledge, planning and strategies, other entrepreneurs do not have an access to the insider’s picture of a business venture. In this regard, entrepreneurs foundations enable learning from others’ successes and failures; good and bad decisions; and beneficial and harmful practices.
Entrepreneurs foundation are highly valuable to those intending to launch start-up business ventures. These organizations teach them how to plan and execute various strategies necessary for the success of a business venture. Since it is very natural for most entrepreneurs to act over enthusiastic while starting a business, entrepreneurs foundations will teach them where to be cautious and how to manage the resources successfully. When entrepreneurs launch and administer their businesses, they are on their own to face the success or failure of a venture. They will have little training on the best entrepreneurial practices.
Therefore, it is crucially important for those starting a business to take part in the programs offered by entrepreneurs foundations and learn how to go about setting up and running a business. With this hands-on-training, they can face the challenges associated with their businesses more effectively and boldly with a prior knowledge. In this connection, the role of entrepreneurs foundations in shaping entrepreneurs cannot be underestimated.