This past week I finished teaching a course in Entrepreneurship or as it was known in my day, “Small Business Management.” This was my first time teaching undergraduate business students since my retirement from Academia in more than a decade. Being in the classroom gave me cause to reflect on my days as a business professor. I have been known to stir the pot and upset a few souls on occasion, and thus here are some thoughts that may displease some business professors- but dear reader, as business people you may find interesting. Somehow, colleges bit in the popular jargon of labeling the small businessperson as an “Entrepreneur.” I suspect because it sounds more glamorous and than the mere owner of a small deli of local bookkeeping company. Entrepreneur has a ring of a fast-paced wheeler-dealer on to a quick fortune, not waiting on morning customers with coffee and rolls. And such a glamorous “profession” deserves “glamorous” course material. The assigned textbook (not my selection) was a marvel in graphics, weight, and price. Accompanying this 500 page, four-color glossy stock textbook was a video and two instructional CD’s. I found the book crammed with unnecessary and questionable material tightly squeezed into the” short” 500 hundred pages. The price of this masterpiece written by a committee would make a sizable dent in my social security check. I remember my undergrad days, when a textbook was assigned; it was a textbook of reasonable length at a reasonable price. It was not a dog and pony show. We were expected to read it before the end of the semester. We did not have four-color computer generated graphics along with hi-powered supplemental material. We did not have such basic material as “Introduction to Management,” wrapped up in colorful and misleading titles and language. We did not “empower,” anyone or anything. we did not bring things to a “ closure.” We did not “outsource.” We did not make nouns out of verbs to make the everyday appear important and sophisticated. And we did not try to create a social science or a course in humanities out of the basics of management. We taught business for what it is; business, not philosophy, theology, or sociology. We did not teach about business, we taught business. We focused on the knowledge necessary to start and manage a business not the social value of entrepreneurship to deal with poverty and unemployment. And why am I on this kick of knocking the “new language” and new “teaching material” because all this political correctness newness is distracting the students from learning the basics of business and establishing a foundation to build upon. The lack of basics was apparent in my “Entrepreneurship” course. It came as a shock to my students, mostly seniors that 80% of all new businesses fail within three years of opening. It came as shock that the major reason for these failures were the entrepreneurs – their lack of preparation, and personalities not suited for the demands of business ownership. It came as a shock that they will be forced to learn to sell, to have the courage to ask for money, and be willing to fire your best friend. In addition, the biggest surprise was finding out that most beginning entrepreneurs experience near poverty the first year or two as they struggle to get their business profitable. Now my biggest grip of all. Too many courses in entrepreneurship in too many colleges are taught by well meaning faculty armed with more degrees than money that have never seen the inside of a small business except as a customer. They have never met a payroll, called a customer to get paid, made a sales presentation, hired an employee, fired an employee, made an idea a reality, never started a business, and never experienced the pain and education of failing in business. I am troubled that our undergraduate business schools are staffed with professors who are not businesspersons with academic credentials, but scholars bent on research not qualified or interested in teaching the skills and techniques of business survival. It is too bad and can be so misleading to young minds that look to their Profs as leaders and fountains of knowledge. Do I have any answers or solutions to what I see as problem that will add to business failure bringing pain to the owner, his family, employees, and creditors? I wish I did. I do feel the certain business courses that are to prepare students to face the challenges of business ownership should be taught by faculty who have both graduate degrees and successful business experience. Law professors have clients. Professors of medicine see patients. However, few business professors have business interests. Colleges tell them publish scholarly works and do research (most of which are restatements of the obvious) if you want tenure and promotions. The cap and gown management crowd will tell you if you practice “business” it does not count as a scholarly activity, and if you “practice” business to supplement your teaching income it is demeaning as you are doing it for the money- as if professors who are lawyers and doctors offer free services. Perhaps it is time to bring back a modified apprentice system. Learn your craft from the successful practitioners as well the classroom. I am not suggesting forego an education and pick up a broom to learn to be a shop keeper, but I would suggest to anyone planning on opening or buying a business engage in your own covert operation and go to work –the position does not matter- in the type of business you plan to start. Keep your plans to yourself, look, and listen, and in a few short months, you will know if becoming Mr. or Ms “Entrepreneur” is for you. The experience will be a valuable lesson on your road to success. Dr. Paul E Adams, Professor Emeritus Business Administration Ramapo College of New Jersey Author “ Fail Proof Your Business: Beat the Odds and be Successful.” Available at Amazon.Com If you have questions about your business- contact me: drfailproof@earthlink.net.