Imagine trying your hand at entrepreneurship without any downside. You won't risk your money, time, or current job — and if you go bankrupt, it's no big deal.
Like a rookie pilot in a flight simulator, game-based experiential business training lets you take the wheel of small business ownership to test your skills before takeoff.
In my latest episode of The Unsure Entrepreneur Podcast, I get to talk with longtime colleague Mathew Georghiou, who is a seasoned entrepreneur with a passion for reshaping business education. Mathew, the founder of five companies including MediaSpark and GoVenture World, has dedicated his career to developing educational games and simulations that make learning about business both engaging and effective.
Mathew strongly advocates the power of experiential learning for the world of entrepreneurship. “We learn better when we’re doing,” he explains. This philosophy has driven him to create innovative tools that allow aspiring entrepreneurs to simulate real-world business challenges. One of his flagship products, GoVenture Entrepreneur, is hailed as the most realistic small business startup and operation simulation ever created. “It’s super deep,” Mathew says, noting that users can experience everything from setting margins and ordering supplies to dealing with customer feedback and hiring employees.
"Simulation can accelerate learning in a matter of hours."
My conversation with Mathew highlights the importance of preparing for entrepreneurship, not just by reading books or attending lectures, but by actively engaging in simulations that mimic real-life scenarios. As Mathew points out, “Even if we could recreate the real world, it’s just not feasible to do. But with simulation, we can accelerate that learning in a matter of hours rather than months or years.”
Here are three key takeaways from the podcast:
Learn by doing. Mathew believes that the best way to learn business skills is by doing. His educational games and simulations provide a hands-on approach that traditional learning methods often lack.
Failure is okay. Mathew encourages entrepreneurs to embrace failure as a natural part of the journey. “We fail every day,” he says, adding that the key is to learn from these failures and use them as stepping stones to success.
Start small. For those unsure about diving into entrepreneurship, Mathew advises starting with a side hustle. “Experiment by doing something on the side. It might only take a few hours a week, but you’ll gain invaluable knowledge and skills.”
See all of Mathew's companies, products, books, games, and inventions here on Georghiou.com.
Mathew's innovative products also help new business owners to develop financial literacy. He shares a story about famed entrepreneur Richard Branson, who admitted he didn’t understand the difference between net profit and gross profit until he was in his 40s. “You’ve got to understand some basic math if you want to be successful in business,” Mathew warns.
Click here to try one of Mathew's free small business simulations called 'Lemonade Stand Game.'
For aspiring entrepreneurs, Mathew’s advice is clear: prepare, experiment, and embrace the learning process. "Don’t rush into entrepreneurship without preparation. Take advantage of the resources available to you," he encourages. Whether it's through a side hustle or a full-fledged business venture, the skills you gain from hands-on experience are invaluable.
What's clear to me from the interview is how devoted Mathew is to helping entrepreneurs to take those first steps in a risk-free environment, so they can learn what works and what doesn’t work before investing significant time and money.
Click here to listen to the episode.
[Photo caption: Mathew Georghiou]
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