Why Learning is Important for Entrepreneurs
The challenges entrepreneurs face make learning fundamentally important. But many entrepreneurs lack opportunities to engage in meaningful reflection and learning.
Entrepreneurs and business owners face a different set of challenges than those employed by larger and more established organizations. In a nutshell, entrepreneurship is by nature dynamic and unpredictable. The risks, uncertainty, and constant change entrepreneurs face require different and more efficient methods of learning and problem-solving.
Entrepreneurs learn through experience. They acquire knowledge over time by reacting to specific situations, experiences, and crises. When confronted with new or unique challenges, they must strive to make sense of these situations while they are still unfolding. The key to translating these disruptive events and challenges into actionable learning opportunities is reflection. In particular, an entrepreneur’s ability to reflect on the underlying values and perceptions that shape her/his behavior leads to both greater self-awareness and increased understanding.
Learning in entrepreneurship can take different forms. Adaptive or “single-loop” learning (Argyris and Schön, 1978) occurs when an individual observes the consequences of her/his past actions and charts a different course by changing her/his actions or strategies in the present. For example, a manager who reflects on a past interaction with a direct report that ended poorly may change her/his tone or approach in anticipation of their next conversation. Learning at this level leads to new practices, but the underlying assumptions that shape these practices remain unchanged.
“Double-loop learning,” in contrast, requires that learners critically examine the values and assumptions that guide their notions of effective action. For example, the same manager could instead examine her/his own beliefs and assumptions about how her/his employees should behave, and about what constitutes effective management. Reflection and learning at this level could lead to new systems and practices that prevent the same problems from recurring. They may also trigger a shift in self-awareness for the manager which fundamentally changes her/his perspective and way of relating to others.
Both single- and double-loop learning are important for entrepreneurs. Some entrepreneurs become highly skilled at single-loop learning (putting out fires, correcting problems, adopting new methods, etc.). However, double-loop learning is far more rare.
Unfortunately, the day-to-day demands of entrepreneurship often get in the way of the kind of critical reflection that leads to double-loop learning. Time and attention are always limited. Many leaders prioritize “doing” over thinking. In a 1984 Harvard Business Review study, Gumpert and Boyd explained that some lack appropriate peers with whom to reflectively discuss problems. The lack of input from others can hamper learning and negatively affect decision making, while increasing the pressure entrepreneurs feel to solve problems themselves. Finally, some may not know how to reflect and/or they may lack the skills necessary to engage in critical reflection.
These pressures contribute to the need for entrepreneurs to seek out and find opportunities to engage in meaningful reflection and learning. Coaching, in general, or Peer Group Coaching programs such as Verve Sessions, can provide these types of opportunities. Coaching offers a safe and supportive environment in which to discuss important problems, challenges, and choices. Peer Group Coaching, in particular, offers a vibrant interchange of ideas, information, and feedback that can stimulate critical reflection and learning. With that new awareness and understanding comes the motivation to act. Peer coaching groups also provide a structure for purposeful action and accountability. Finally, the peer group setting offers members the opportunity to observe and learn from others’ experiences vicariously, lowering some of the risk and costs associated with learning on your own.
To find out more about how Peer Group Coaching can benefit you or your business, check out Verve Sessions, our Peer Group Coaching program for entrepreneurs and business owners.
For more information on Peer Group Coaching (PGC), download this white paper Erek co-authored with Ken Giglio over at Mindful Leadership. In the paper, they explain what PGC is, how it works, and why your organization needs it. Some of these factors include the cost-effectiveness of group work, the power of group learning, the impact of group work on organizational communication, and the psychological benefits associated with group membership.