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The 3 Things Every Entrepreneur Needs

UT Dallas expert teaches students they need these to succeed

Released: 3-Feb-2014 5:00 PM EST
Source Newsroom: University of Texas at Dallas
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Newswise — Innovation and entrepreneurship courses are more popular than ever. Dr. Joseph C. Picken, a clinical professor who teaches in the award-winning graduate program at UT Dallas' Naveen Jindal School of Management, said he tells students they need three things to succeed:

1. A Great Idea
“I tell students, ‘You’re responsible for the great idea, I can’t do that for you.”

2. Fire in the Belly
“You need the passion and the energy, drive and commitment.”

3. Know-How
“You need to know enough about the process so you don’t make the most obvious mistakes. Most startups fail because the entrepreneurs lack the experience, don’t have the knowledge and make the same dumb mistakes someone else made last month. We can give you the knowledge, teach you the process and give you the perspective. We can tell you how to avoid the most obvious mistakes. You’re going to have to come up with the idea and you’re responsible for the fire in the belly."

The UT Dallas Naveen Jindal School of Management's graduate program in innovation and entrepreneurship recently received the 2014 National Model MBA Entrepreneurship Program award from the United States Association for Small Business and Entrepreneurship (USASBE).

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