The best method for learning entrepreneurship (and anything else)

Which learning technique yields the best results?

There is a super steep learning curve when it comes to starting a business. There is so much to think about and consider; business development, product research, marketing - it can all be so overwhelming. However, to help your learning retention, there is one way which can help you to remember up to 90% of what you learn. Yes, 90%. But what is it? Well, listen to this episode of the Startup Streams Serial Entrepreneur Podcast to find out…

The way I see it, there are 7 ways you are able to learn about absolutely anything; including entrepreneurship of course.

We will start at the top, of what’s called the “learning pyramid” and as we go down the list, the learning retention rate increases, up to the single method which can help you to retain up to 90% of what you learn.

Let’s dive in…

1. Learning from lectures - 5% retention rate

The first and worst way to learn is through attending lectures. Yes, really. Right now you’re regretting all of your student debt because there are 6 better ways to learn and you spent most of your time listening to your teacher or professor preaching at the front of your class, after spending tens or hundreds of thousands of dollars. But this is not optimal for learning. Why? You are being told information, you are sitting comfortably, mind wondering, taking the odd note or two, maybe even falling asleep… On average you will be able to remember 5% of what you learn on a lecture - lots of room for improvement.

2. Learning from reading - 10% retention rate

Reading has a 10% retention rate. However, there are a number of things you can do to improve this number. Whenever I read business books, I do so with pen in hand, ready to annotate, highlight and scribble. I find this really helps. The best way however to remember what you read, is to write down and store note cards, then refer back to them occasionally to make sure the information sticks. Although it is thought that reading equals 10% retention, this is of course an average and not always the case. Have you heard of Bill Gates’s “think weeks”? Bill Gates, the founder of Microsoft, takes out 2 weeks every year to sit in his cabin next to a lake and just… well, read and think. This reading vacation allows him to study alone and isolated away from distractions and allows him to focus on big world issues. Supposedly, his rendition rate far surpasses the 10% average. Not surprised.

3. Learning from Audio or visual - 20% retention rate

So this is where podcasts come in, and YouTube videos, with a retention rate of 20%. So it will be interesting to see if you can remember 1 or 2 of the learning techniques mentioned here in a month’s time. Audio and visual is certainly more immersive than reading and many prefer the visual stimulation of learning through YouTube, TV and other visual mediums; whilst others prefer learning through audiobooks, the radio and as you do… podcasts.

4. Learning from demonstrations - 30% retention rate

Number 4 on our list, with a 30% retention rate, is learning from demonstrations; learning by watching someone else doing. This is certainly more immersive than audio or visual as you will be able to see how something is applied right in front of you, and you may also have the opportunity to ask questions as you go. Some of my most memorable lessons from when I was at school are science and food technology demonstrations. Would you agree?

Carrying on…

5. Learning from discussion groups - 50% retention rate

What has a 50% retention rate? Discussion groups. Being able to openly discuss a topic seems to do wonders for retention. Again, this is more engaging as you are being actively involved with the topic at hand. You are no longer passive, your are assertive. What’s more, group discussions can help you with developing critical thinking skills, improving communication skills, increase your self-confidence and with building teamwork. All vital components for successful entrepreneurs.