- New information this morning coming out of Brigham Young University. Two professors there have been studying how to empower small businesses and make an impact in the lives of those living in Africa. Chad Carlos and Shad Morris joined us to talk about the efforts they have made to lift business owners out of poverty.
- Although millions are spent each year on entrepreneurship training that is intended to help alleviate poverty and elevate the quality of life of entrepreneurs in developing nations, these programs often fail to make an impact. Morris and Carlos, along with colleagues, were invited by the Tanzania Social Action Fund (“TASAF”) to see if they could help figure out why TASAF’s entrepreneurship trainings were not producing the results they were hoping for.
- They discovered that training recipients understood and retained a knowledge of the principles learned in previous entrepreneurship trainings, but few put that knowledge into action because they lacked the confidence to apply the new information and skills learned. They found that pairing a “growth mindset” training along with the entrepreneurship training made all the difference. Growth mindset training improved the confidence of training participants, which led participants to take more action in applying new skills in their businesses. “It’s about helping people understand that they have the ability to do hard things, overcome challenges, and learn from those challenges,” Morris said. “This helps them accomplish their goals through trial and error.” Morris also said these findings could help Utah business owners as well.
- If you would like to know more click here: : https://marriott.byu.edu/ballard/
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