The first time I went skydiving, I was terrified. At the edge of the airplane door, legs dangling 30,000 feet in the air, I told myself ‘This was a bad bad idea’ though I’d seen more than a dozen people that afternoon safely land on their feet and exuberated by their experience. Before I could voice my objection, a nudge from the back, and I was free-falling. After struggling for the first few seconds to catch a breath, my arms and legs in position practised in the prep-class, and I began to enjoy the free fall.
Cold feet is just as common sitting in the waiting room.
Would such a safety net for aspiring entrepreneurs encourage them to take more risks? What is the best way to get over the fear of the unknown?
There are no secrets to success. It is the result of preparation, hard work, and learning from failure.
A balance between theoretical knowledge and hands-on experience, business simulations allow learning by doing. We all learn by doing, but how can we learn if the material isn’t presented in an interesting way? Business simulations allow the novice to go beyond the planning and witness firsthand the result of their decisions virtually, without loss of time or money in the real world. “He who fails to plan, plans to fail.”
A real-time strategy (RTS) game, entrepreneurship focused Sim-U provides educators and students with metrics on the status of their virtual business. In Sim-U every decision has a consequence, like the butterfly effect. The business operation runs in real-time and will continue to function (or close) even if the user isn’t logged in. Performance reviews let you know if their business is doing well or doing poorly.
Can this be the answer to the burning question: How can the US boost college students’ potentiality for the workforce?
Recent studies prove it: Increased engagement between educators and students has a positive effect on learning. Integrating seamlessly into individual sessions or entire courses of study your students can learn within single business silos or tackle an entire business. As the educator, you enrich their learning experience by acting as a guide for students to steer within the simulation, helping them testing their theoritical knowledge assimilated in the lecture room to see how they weather the commercial marketplace.
Well developed, institutionalized business simulation programs create safety culture, the best safety net against the failure of complex systems of the real world.