Gone are the days when a job in a big company was the highest aspiration. Millennials are an entrepreneur generation. Students are starting to realize that their college degree doesn’t guarantee employment.
Young people mostly want to start their businesses. The common barriers to this venture are high educational debt levels, lack of necessary knowledge and skills, and too much risk.
How to Become A Successful Student Entrepreneur
The web has an abundance of guidelines that describe how to start a particular business step-by-step. There’re numerous ready-made business ideas for those lacking creativity.
A beginner can find a lot of advice online on how to cope with possible obstacles. Then why isn’t every student a successful entrepreneur yet? Here are 7 effective tips young entrepreneurs usually neglect.
1. Learn to tune in to the right vibe
Our emotions and overall mood can affect our thoughts and actions. It’s a great struggle for a procrastinating student to finish writing an essay on a Sunday evening. Only bad weather can make things worse.
Be able to get into the positive spirit quickly. You have decided to become an entrepreneur. So, your weekends will be as busy as weekdays. Commit yourself to the implementation of the project no matter how much it rains and how strong your laziness can be.
2. Create a schedule
Balancing an entrepreneurship and studies can be the toughest challenge. You won’t always have enough time to do both. So, either your startup will never develop because you can’t do it properly, or you’ll give it your time and drop out.
To avoid such situations, many student entrepreneurs create schedules. A simple to-do-list can help you use your time effectively. Here are some tricks:
- Consider performing your study tasks in the first half of the day and focus on your business issues in the evening.
- Slit up specific goals into time blocks. That boosts focus and helps you manage details better.
- Plan study sessions. Make 10-minute breaks every hour. It increases productivity.
In case of an alarming lack of time, it is not a crime to use essay writing service EssayPro to get assistance in academic paper writing. You’re not a superhuman, aren’t you?
3. Choose the right courses
Try to align your degree program with your business, or vice versa. For example, you’re a student majoring in computer programming. And you’re thinking of creating a mobile app.
The knowledge you gain in college will be valuable for your startup development. Moreover, you won’t have to worry about your grades as you bridge the gap between school and work.
Or it may be another scenario. You have a startup idea but feel that you’re not knowledgeable and skilled enough to make it real. Take extra courses in marketing, entrepreneurship, or other subject related to your idea. It will provide more practice to hone your business skills.
4. Utilize school resources
Tap into every possible resource to get your small business off the ground. Colleges have several resources every student can use for free. These are free Wi-Fi, copy and print services, library materials and meeting rooms.
Not to mention professors’ advice and accessible market. While adult entrepreneurs spend one-fourth of their budget on discount, you can take advantage of student’s discounts on software.
If your college has writing courses, ask someone to write promotional materials. It’s cheaper than hiring a writer from paper writing service.
5. Develop leadership skills
If you have to remind your employees who’s in charge, then you’ve already failed. Being a boss and being a leader are different roles. Being just a boss involves giving tasks and being controlling.
This approach to company management limits the potential of a team. A leader gives direction. They delegate the work showing their trust. They allow their employees grow.
Leaders are strong people who can motivate their employees. They praise their work, cheer them up, communicate effectively, smile, and create high standards and safe internal culture where people can fail and try new things.
6. Take on internships
The major benefit of internships is the firsthand experience of the working world. You learn to work in an office, interact with co-workers and supervisors, and handle customers or clients. It’s a great possibility to see how your classroom knowledge applies to real life situations.
The internship offers you another significant advantage. It’s the best way to build a network of contacts. You’ll meet experienced entrepreneurs, successful alumni, and peers with similar interests. That’s not only a source of motivation. You’ll have someone to ask for advice when you need it.
If possible, take on an internship in the industry you want to get into. It’ll help to develop related skills. It can also give you a valuable insight into whether a start-up idea is worth working on or not.
You may use new knowledge to improve your business plan.
7. Protect yourself
There’s always a risk that someone may either steal your business ideas or sue you for allegedly stealing their ideas. Safeguard your work. Register your intellectual property with patents, copyrights, trademarks or design marks.
You’ll save yourself a lot of trouble in case the business starts to scale quickly and grows into a big company in the future.
Intellectual property protection is expensive. Be a smart businessman. You can save money by hiring a patent attorney from a different city. Ivy-league lawyers in Wisconsin are just as professional as Ivy-league lawyers in New York City. But the cost is twice cheaper.
Nothing should stop you from pursuing your dreams. Get creative, utilize your best assets, and launch a startup you want!
Here’s a quick recap on the seven tips to becoming a successful student entrepreneur:
- Learn to tune in to the right vibe
- Create a schedule
- Choose the right courses
- Utilize school resources
- Develop leadership skills
- Take on internships
- Protect yourself