You may think street smarts are enough to be a successful entrepreneur, but these top entrepreneurship programs are giving students the practical and theoretical knowledge they need to succeed in any venture.

Entrepreneur.com presents their top 10 undergraduate and graduate programs for entrepreneurship:

Top 10 Undergraduate Programs:
1. University of Arizona
2. Syracuse University
3. DePaul University
4. Temple University
5. University of Dayton
6. Drexel University
7. Fairleigh Dickinson University
8. University of North Dakota
9. University of Illinois, Chicago
10. Babson University

Top 10 Graduate Programs:
1. Syracuse University
2. DePaul University
3. Northwestern University
4. California State University, San Bernardino
5. University of Washington
6. University of Arizona
7. Temple University
8. Monterey Institute of International Studies
9. Indiana University, Bloomington
10. University of Louisville

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Some of the most wealthy people I know got there by having superior people management skills. Every employee that works for you is a potential brainstormer, the one person who may think of the great idea that makes millions.

How can you inspire your employees to innovate?

1) Business owners must set personal egos aside

An employee may keep a great idea to himself if she/he doesn’t like you!

2) Create open brainstorming sessions for employees

Allowing them to give their own input makes them feel as if they truly are a part of the system.

3) Recognize the unique gifts your employees possess

Once you find someone with a unique gift or talent, nurture that talent and capitalize when the time is right.

4) Set parameters

Specify what you’re looking for, and guide your employees. You’ll be amazed at the new concepts they’ll throw at you.

“The direct benefit [of employee innovation] is competitive advantage, but the secondary benefits are greater employee empowerment and satisfaction.”

Source:
Sparking Bright Ideas

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When starting a new business venture it’s easy to skip over the little things that may come back to haunt you in a big way. The real defininition of entrepreneur should be “a business-minded person who’s willing to constantly solve unforeseen problems.”

Tamara Monosoff of Entrepreneur Magazine offers the following booby traps you may encounter when starting a new business venture:

Trap #1: Universal Product Codes
Trap #2: Product Liability Insurance
Trap #3: Electronic Data Interchange
Trap #4: Chargebacks
Trap #5: Slotting Fees
Trap #6: Timing

Source:
Business Booby Traps

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