As per the Santander Universities’ report, there are over 450,000 college students either running or planning to start their own company. This shows that students are highly interested in start-ups and there is a growing trend of moving away from stable jobs towards setting up businesses.
This entrepreneurial mindset is key to success. As per available data, student entrepreneurs now generate about a billion dollars in revenue each year. While the idea of running a company while still studying is attractive, being a student entrepreneur isn’t easy because you are primarily expected to dedicate your time to school work. Let’s look at some of the hurdles you might face in such a situation.
Problems Faced by Students
Shortage of time is the biggest issue faced by college students who want to start their companies. In order to set up and run a profitable business, you will be required to dedicate a lot of time and energy to it. However, given the amount of school work, it is very common for students to have little time to give towards their business.
The situation is further worsened if the student has decided to take a part-time job in order to meet daily expenses. It is actually quite common for students to combine jobs and college, especially if they do not come from wealthy families. In such cases, the students only have enough time to finish college assignments and do their job.
Steps to grow your business
Pick the Best Business Apps
Modern technology provides both small and big businesses with a bunch of helpful tools. For example, such platforms as Slack can enhance communication within the team. It’s designed specifically for businesses, organizing conversations between co-workers into channels. Hangouts are used for the same purpose, so you can check them as well. Technology can also help with time management. RescueTime and Deputy are great tools for managing employee schedules and arranging calls. Apart from that, you can find a number of other tech solutions helping your business.
Entrust Your Assignments To Professionals
It is quite clear that while students are inclined to start a business, they struggle to find the time for it. They are under heavy pressure to complete college assignments and this leaves little time to gain entrepreneurial knowledge. It’s important that running your business does not have a negative impact on your college work. If you are in such a situation, you might have wondered “Is there anyone who could do my assignment for me in strict deadlines, so I’m not alone with my academic challenges?”. Luckily, modern technology provides such a service whereby you can delegate your college work and focus on important business processes. The professionals working at custom writing companies can take care of your grades while you take care of your business. This is extremely important if you want to balance both academic commitments and running a successful business that generates high profits and brings value to people.
Read e-Books on Business
Running a business has a huge learning curve. You will be required to understand how to set it up, connect to vendors drive revenues, etc. The issue is that such entrepreneurial tasks are not discussed in the classroom or in homes. The best way to gain knowledge is to read as many books and essays as possible. This should range from books on business principles to the biographies of successful people.
Use Online Networking Platforms
With the help of mentors, the learning process can be accelerated. The mentors can guide you in the right direction and correct your mistakes ahead of time. Due to a lack of mentors, students are required to figure out everything on their own. They have to start from scratch and learn from their own mistakes. This increases the amount of time and commitment that is required to run a business. Networking platforms such as LinkedIn may help you out. You can directly reach out to seniors in your field and ask for mentorship.
Starting a business is possibly one of the best things that you can do in your 20s. Unlike classroom learning, you will be working in the real world and making a difference in people’s lives. While available data shows that students have a strong entrepreneurial spirit, there is often a reluctance to start a business due to the lack of time, knowledge, and mentors. Students are so busy with college work that they cannot dedicate time to anything else. In such a situation, delegate college work to professionals so that you can focus on better business solutions.
Brandon Kryeger is a business and technology writer. Over the years, Kryeger has written for some of the most influential business magazines and blogs. When he is not working, Kryeger can be found watching sports or reading books.