7 Important Life Skills For Students To Develop An Entrepreneurial Mindset

What has made the human race the alpha species? Yes, it is our superior cognitive and physical abilities. But, equally important has been our leveraging of these abilities to develop life skills for students that have helped us conquer every age – from pre-historic times to today’s highly advanced, tech era. Skills are crucial, they help us survive and thrive, and research has increasingly shown the earlier we embrace skills, the greater our chances of reaching the pinnacle of achievement.

In its extensive work across 10 States in India, Udhyam Foundation has reached over 3 million students – equipping them with the tools required to unlock an entrepreneurial mindset. As a pioneering force in the space, the Foundation quickly understood that young students lack the critical life skills needed to develop an entrepreneurial mindset. Through its interactive programmes, Udhyam has gone beyond textbook learning, seeding skills that help young minds claim a bright future.

The Making Of MVPs

Over the past five years, Udhyam Foundation has identified the foundation values of an entrepreneurial mindset. It has learnt, through its far-reaching programmes, that this critical mindset becomes a reality when students possess a quiver of skills under these four broad values. They are:

  1. Ability to try new things
  2. Self-Awareness
  3. Grit
  4. Independence

Placing these values as cornerstones, we can then build critical life skills for students. Here are seven that lead to an entrepreneurial mindset:

Critical Thinking 

An entrepreneurial mindset simply begins in the mind! Traditionally, in India, youth are compelled to acquire textbook knowledge. However, critical thinking encourages young students to go beyond the printed page and think for themselves. With critical thinking, you unpack the various facets of a topic and weigh out various factors before taking action or making up your mind. A key life skill for students, critical thinking can ensure an agile and open mind that can identify the strengths in a situation, approach challenges with curiosity and work with others to achieve the best results.

Problem-Solving 

When critical thinking takes root, it opens up the doors for problem-solving too. A balanced mind can look at problems- whether in life or at work – and instead of feeling defeated by them can unpack and understand them. When doctors face an unknown condition or coders stumble upon a bug in their software or weavers can’t get a pattern right, it is important that they persevere and understand the source of the problem, test out solutions and forge new pathways. This leads to not just the advancement of the person and their craft but this is how humanity itself has progressed through the ages.

Resilience

Self-awareness and the ability to try new things show students that failure is an indispensable and important part of life. Without it, the mind and the psyche have no in-built defence that helps them tide over life’s many challenges. Failure and challenges also help build resilience – a precious life skill for students.

Resilience helps youth cope with a bad marks sheet or a rejection at a job interview or the heartbreak of seeing a dream turn into dust. It also pushes them to try and try again, assuring them that bad marks, a lousy interview or a dream gone awry is not a death sentence. And that success always belongs to the person who is willing to get up, dust themselves off and try again.

Leadership 

Leaders are born, some say. But nothing can be further from the truth! Leaders are made and those with an entrepreneurial mindset grow into taking responsibility for themselves and others. When you think about what many workplaces and budding enterprises lack today, it is the lack of leadership that often derails the best of companies. When we nurture life skills for students and show them ways to build self-awareness and independence, we create leaders who walk with others and encourage them to reach for the greater good.

Communication

In a world that has whole-heartedly embraced technology and the digital domain, communication is everywhere. However, an entrepreneurial mindset knows the value of honest, open, inclusive and effective communication. When designing programmes that impart life skills for students, it is important to include every student as effective communication is a skill that every individual needs to possess. The ability to spell out your thoughts and even convince your peers to embrace your ideas plays an impactful role in workplaces, societies and in families.

Collaboration 

Collaboration is closely linked to communication. When young children and students are nurtured to actively listen, communicate effectively, employ their emotional intelligence and foster a culture of respect – collaboration becomes easy. This, in turn, feeds into the entrepreneurial mindset and encourages young people to reach out, across boundaries and comfort zones to work with others. This life skill for students helps them realise at a very early age that nothing great or good is created in a vacuum by lone individuals. Apple is more than Steve Jobs, the government is much more than its Prime Minister, and Virat Kohli is a valuable member of a team – there are no wins till collaboration becomes the norm.

Adaptability

In a fast-paced, ever-changing world, adaptability is a non-negotiable life skill for students. In the recent past, during the COVID-19 pandemic, even schools and colleges had to adopt online classrooms in the face of a crisis. Cultivating adaptability in young, entrepreneurial minds prepares them for competitive workplaces where individuals have to adapt to changing roles, varied personalities on their teams, and changing organisational goals. When pursuing their entrepreneurial dreams, youth should also be able to quickly embrace the changing needs of the market, cope with setbacks and seek out-of-the-box solutions. Adaptability also helps people accept feedback and work towards growth.

Practising these seven skills leads to an entrepreneurial mindset and also creates other enviable skills, beliefs and behaviours. These include – creativity, networking, continuous learning, ownership and proactiveness. All of these skills come together to make for well-rounded individuals who can navigate the ups and downs of a career and a social life with elan, leading to greater successes for societies, nations and, ultimately, the human race.

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Shankar Maruwada is the Co-Founder and CEO of EkStep Foundation, a philanthropic mission he co-founded in 2015 along with Nandan Nilekani and Rohini Nilekani, to improve basic education for 200 million children in India. The Foundation has co-created an open-source free to use digital infrastructure called Sunbird (www.sunbird.org) which works towards achieving this purpose. DIKSHA, the national school education platform, is one of multiple national initiatives that leverage Sunbird to provide access to digital content for learners and for capacity building of teachers. He has more than 25 years of experience across corporate, entrepreneurial, nonprofit and government sectors. This allows him to bring the best of thinking from different lenses, which he has used in shaping EkStep’s mission and its strategic choices of achieving population scale impact for learning, using technology. Shankar is deeply passionate about leveraging technology for large scale transformation in society. He was part of the startup team at Aadhaar; in fact, he was responsible for naming it. He also set up one of India’s first data analytics companies – Marketics. This cross-sectorial experience and interdisciplinary approach has been a driving force in pursuing scale solutions, innovations and collaborations for EkStep’s education mission. He also mentors startups, social entrepreneurs and not-for-profits. Shankar is a member of the National Steering Committee tasked with developing the National Curriculum Frameworks based on the National Education Policy, 2020. He also been on multiple Government committees and task forces, including DIKSHA, NDEAR (National Digital Education Architecture), iGOT (Integrated Government Online Training). His alma mater IIT Kharagpur’s motto of ‘yogah karmasu kaushalam’ (Yoga is excellence at work) and its message of ‘Dedicated to the service of the nation’ is also his chosen path in life. He is also an alumnus of Indian Institute of Management, Ahmedabad.

R. Natarajan, fondly called Nats, co-founded Foundation partners in July 2018 advising companies on scaling, governance and profitability. Prior to this he was Chief Operating officer at UC RNT Fund, managing USD 400 Mn and Managing Director at Helion ventures, a VC firm with Asset under management of over USD 1 Bn for 10 years, and in various leadership roles in Tavant Technologies Inc., US, and Wipro for 13 years. He is a qualified finance professional and a certified black belt in Six sigma by Motorola University. He is on the Board of studies at Christ University and in the Advisory board of Shasun College for Women in Chennai, Bethany High school Bangalore and Byramjee Jeejeebhoy School and College at Mumbai. He also serves on the Board of PHFI (Public Health Foundation India) and also a trustee of Youth For Seva, a large NGO focusing on self-reliant communities powered by selfless individuals for the last 13 years, currently whose volunteers cross 1 lac and beneficiaries cross 10 Cr across 14 states.

“Every human being deserves a dignified life out of poverty, and it’s well in our collective means to achieve that goal.”After 17 years of starting, scaling and turning around various businesses in some of the largest and most respected organisations globally, Atul started The/Nudge Foundation to do poverty alleviation work. Atul is now serving both The/Nudge and Givelndia as their CEO. Over his 5-year stint at InMobi as its Chief Business Officer, Atul helped scale the organisation to a global leader in mobile advertising, with operations in 20+ countries. Atul also served on the Board of Mobile Marketing Association. Prior to InMobi, Atul was the Head of Mobile Business for Japan & Asia-Pacific at Google. Atul has also done various general management, business development and sales roles across technology companies, including Adobe, Samsung and Infosys. Atul also served EndPoverty, a non-profit, as Chairperson for two years, working on various aspects of poverty, including water, sanitation, education, skill development, sustainability and women empowerment, and continues to serve as their Board Member. Atul has been named in the #40underForty list by The Economic Times in 2017. Atul holds a Master in Business Administration (MBA) from the Indian School of Business and a B-Tech from the National Institute of Technology.

Binny Bansal is an Indian internet entrepreneur, who co-founded Flipkart, the leading e-commerce marketplace in the country. At Flipkart, he donned several hats including Chief Operating Officer, Chief Executive Officer, Group CEO, and Chairman. Post his graduation in Computer Science & Engineering from IIT Delhi, Binny worked at various companies, including a stint at Amazon India. In October 2007, along with his Amazon colleague, he co-founded Flipkart, an online book store based out of Bengaluru. In 2018, Binny steered Flipkart to close the largest global M&A deal in e-commerce, when Walmart acquired a majority stake in the company at an enterprise valuation of $22 billion. Binny is currently an entrepreneur-investor and mentor in the startup ecosystem. He has invested in several early stage startups, including Stellaps, Ather, Increff, Inshorts, Tracxn and Goodera. Growth stage startups include Acko, Cure.fit, Rupeek and GreyOrange, to name a few. Binny also co-founded xtolOx Technologies, offering technology tools, learning platforms and consultancy services to enable growth stage startups scale 10x. In December 2019, Binny relocated to Singapore with his family. Binny was ranked 26th among India’s 50 Most Powerful People in 2017 by India Today, and was awarded the 2016 “Asian of the Year” award by Straits Times of Singapore.

Narayan Ramachandran is an accomplished investment professional and social entrepreneur with over 20 years of experience in global finance and developmental economics. He previously served as the Country Head of Morgan Stanley India and was the lead portfolio manager of its Global Emerging Markets and Global Asset Allocation teams, managing assets worth over $25 billion. Narayan is currently the Chairman and CEO of KludeIn I Acquisition Corporation and co-Chairman of Unitus Capital, India’s largest social enterprise bank. He is also actively involved in social impact through InKlude Labs, which scales interventions in education and public health, and serves on several boards including Vivriti Asset Management and Caspian Debt. Narayan holds a B.Tech. in chemical engineering from IIT Bombay and an MBA from the University of Michigan. He is known for connecting ideas, people, and capital to drive impactful change in areas such as social enterprise, environment, and global finance.

linkedin.com/in/narayan-ramachandran-a6b2941b8

Abhishek Poddar is a prominent Indian industrialist, art collector, and patron of the arts. He is the Founder-Trustee of the Museum of Art & Photography (MAP) in Bengaluru, to which he has donated a substantial portion of his family’s art collection and the initial leadership gift. As Managing Director of Matheson Bosanquet, an 80-year-old company specializing in tea production, trading, and export, and Director at Sua Explosives & Accessories, a leading manufacturer of mining explosives in India, Poddar balances business leadership with cultural philanthropy. He also serves on advisory committees of several esteemed organizations including the India-Europe Foundation for New Dialogues and the Lincoln Centre Global Advisory Council. Recognized among Asia’s 2018 Heroes of Philanthropy by Forbes, he is deeply committed to promoting India’s rich artistic heritage.
He was born in Kolkata, attended Lamartiniere for Boys and The Doon School, and graduated from St. Xavier’s College, Kolkata.

linkedin.com/in/abhishek-poddar-map

Ireena Vittal is a leading adviser on sustainable growth, digital transformation, and organizational scale-up. She serves on the boards of Asian Paints, Godrej Consumer, Diageo PLC, and Compass PLC, and advises nonprofits in education, legal reform, rural livelihoods, water, and urbanization. A former McKinsey partner for 16 years, she worked with global companies and co-authored influential reports on economic growth, agriculture, and urbanization. She holds a degree in Electronics from Osmania University and a PGDBM from IIM Calcutta.

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