Daytona State College Empowers Entrepreneurs with FMFE Program
Dr. Pat Herndon, distinguished professor and the lead facilitator for Financial Management for Entrepreneurs (FMFE) at Daytona State College, is spearheading a transformative initiative in collaboration with Intuit and NACCE. This innovative program, FMFE, is designed to provide early-stage entrepreneurs and educators with the essential knowledge needed to deepen their understanding of financial management.
Recognizing the Core Issue
Informed by research that consistently highlights a deficiency in financial management competencies as a leading cause of business failures, Dr. Herndon and the team were determined to address this pressing issue. The aim is to provide valuable resources to faculty members and students, ultimately reducing the likelihood of business failures and enhancing the prospects for entrepreneurial success.
A Collaborative Effort
Dr. Herndon's journey with FMFE began with her personal certification, but it didn't end there. She reached out to fellow professors, including Rafael Pallais, Sohrab Shahidi, and Mark McCann, who were among the first to embrace FMFE certification. Together, they integrated this cutting-edge curriculum into their courses, bringing essential financial management skills to the forefront of entrepreneurship education.
One of the most exciting aspects of the FMFE program is the benefit it offers to students. By completing the certification, students can enhance their resumes and LinkedIn profiles, opening doors to entrepreneurial opportunities. Students also gain proficiency in using Intuit's financial tools, including QuickBooks and Mint, which are invaluable skills as they embark on their entrepreneurial journeys.
A Recommendation to Peers
Based on their experience, Dr. Herndon and her colleagues at Daytona State College wholeheartedly recommend that other educational institutions consider adopting the FMFE curriculum. By doing so, they can empower their students to become financially competent, providing a strong foundation for success in the world of entrepreneurship.
Daytona State College, under the guidance of Dr. Pat Herndon, is working in collaboration with Intuit and NACCE to empower the next generation of entrepreneurs. The FMFE program represents a pivotal step toward equipping students and faculty with the essential financial management skills needed to thrive in the entrepreneurial world. Dr. Herndon and her team invite other institutions to join them on this transformative journey.