Extrapreneurship is the concept of thinking like an entrepreneur while working as part of a company. Rather than being confined to the walls of your job scope, you are the change agent, devising processes and strategies to improve the way a firm operates to become more efficient or profitable. This requires the mind of an entrepreneur, which many believe is innate and cannot be taught. However, at CFTE, we believe entrepreneurship is something that can definitely be learnt – it just needs a willing mind. Here’s why extrapreneurship can be widely beneficial for you.
Why should you care?
In today’s fast-paced world, the only constant is change. Gone are the days of employees clocking in decades of service at the same job, doing mostly the same roles. Therefore, a valued quality is thinking on your feet and being able to adapt quickly and nimbly to industry changes. To use one example, Fintech and AI have been disrupting the finance industry for several years and will continue to do so for the foreseeable future. This means that executives in the industry must learn about these new technologies and how they work in order to adapt and implement changes to remain effective components of the workforce.
Without a mind that can adapt, learn and overcome the various challenges posed by change, workers will become obsolete. Entrepreneurs face such challenges daily, and it is easy to see why such a mindset is highly valued by employers. No company has, or ever will, survive with a workforce consisting of yes men. Alternative points of view are needed, not only to challenge existing mindsets, but also to push the company forward and to embrace change for the better.
Let’s consider the position of various banks and financial institutions. KPMG predicts that investment deals will continue to grow in 2019, with a focus on Fintechs with proven traction in order to lower risk, while financial institutions are expected to sign more partnerships, while incumbents invest in mergers and acquisitions. If traditional institutions like banks and corporate investors are setting aside funds to invest in change, why shouldn’t you either? Many of these firms now have dedicated innovation teams whose purpose is to accelerate the pace of change of the structure within. If banks realise they’re not safe from change, who’s to say you, as the employee, is?
CFTE Extrapreneurship Programme
Experiential learning is self-explanatory, whereby students learn through experience. In other words, it is sink or swim. This is very much in line with the working culture at many big companies and multinationals, not just fast-paced startups! Entrepreneurs face new challenges all the time, and without the right mindset to think of solutions, their businesses will go bust. Putting learners into their shoes, the Extrapreneurship course will encourage current executives to develop the thinking mind of an entrepreneur.
Not only does this help extrapreneurship participants develop the right mindset, it also promotes a way of thinking that encourages positive initiatives and discovering new methods of operation that can improve productivity. Think of it as a mini MBA of sorts. While MBAs are built on existing curriculums, it may not be as up to date as CFTE’s Extrapreneurship programme, which uses current strategic issues and implement learning alongside high-growth startups.
There is a point to be made for the classic education that comes with a traditional MBA, but there is also a very strong argument for alternatives such as Extrapreneurship. In this course, they will work together with startups and fellow learners to dissect and solve real challenges that are currently being tackled in today’s world of finance, making it very much a course that will prepare learners for the challenges they will face.
The CFTE Extrapreneurship Programme allows professionals to experience the work environment & methodologies of a high-growth startup. Structured as an 8-week curriculum, participants will work in teams remotely and on a part-time basis, on a real problem statement issued by a high-growth startup and curated by CFTE.
We are a platform supported by senior leaders from the largest institutions, startups and universities. We address the needs of professionals in finance to upskill in a rapidly changing industry being transformed by emerging technologies. More than 50,000 participants learn from our online courses, such as AI in Finance, Fintech Foundation or Extrapreneurship, a mini-MBA with fast growing startups such as Revolut or Shift Technology.
Cover image from mentoring.coleygts.com
- Q&A with Ronit Ghose – Part 2
- Q&A with Ronit Ghose – Part 1
- How to Use SkillsFuture Credits to Start Your Career in Fintech
- Why is Extrapreneurship Important?
- How AI in Finance Affects Human Capital