How to Become A Student-preneur

Starting up a business on campus is not always ‘beans’ as some many make it seem. Often times, seminars and workshops are held on campus encouraging students to attain some sort of financial stability by engaging in small scale business which they could earn money from.

How to Becoming a Student-preneur

Many at times, some students are pressurized into starting something (a business) without doing the proper research or study, and asking themselves the right question – ‘can I really handle it?’ They might end up falling into some complications which could make either their Studies or Business suffer.
Finding a balance and a firm ground for your academics and business is not as easy, as others might make it seem, because people are different. Strength, prowess, zeal differ from person to person. Therefore, it is unadvisable to use the same basis of comparison of another’s ability to handle their academics and business to judge yours. Before starting up a business or campus, there are 3 very important questions which you must ask yourself before starting out.

What is the purpose?
If the answer to this question are – because others are doing it, then that’s a wrong motive. The right purpose should first of all be to solve a problem, to put your skills to good use, and lastly to be self-sufficient, exactly in that order. If the money is the major reason for doing so, you might get disappointed along the line. Reason being that entrepreneurship requires lot of sacrifice before you start pay day.

What problem can it solve?
Opportunities are discovered when a problem meets a solution. Problem identification is the first step to starting out a business, solution development is the beginning of a business opportunity. Also, a feasibility study might be required to determine the workability and sustainability of the business. Having a skill might not be enough, there should be a plan, a goal and a target to differentiate you from others.

How do I create a balance?
Time management is key to finding a balance when multitasking. Effective time allocation and setting your priorities in order of importance are the strategies which could be incorporated to finding a balance. First of all, your academics come first and should be given maximum attention and time.

....Now the main thing

Becoming a Student-preneur

To become an entrepreneur while in school you need to first have that brilliant idea. Think of something creative that will help solve some problems around you. Your next step is to find out what your competitors are up to. This is so that you can make some changes to your idea if necessary.
What are your competitors doing right? What are they doing wrong? Use the results gotten from this research to create a better business plan.
Next, comes the hard and delicate part.
You’ll have to decide if you want to go into freelancing or startup your own business.

Freelancing is quite popular with students because it gives you time for other academic activities plus it can help you build a rich CV because you get to work with a wide range of brands.
Websites like Fiverr and freelancer comes to mind when you think about freelancing.

You might decide to use freelancing as a way of testing your skills before going into the business world. You can set up your company later on if you’re satisfied at how well things go.
Next, you’ll have to decide how you’ll mange your time. Being a business owner in school doesn’t mean you’ll forsake your academics. Create a time management system so you can have enough time for your business as well as for your studies.

Remember to only take on the amount of workload you can complete. This is because starting a small business can be exciting and you might not only destroy your business, you could spoil your quest to complete your degree.

Finally, if you want to succeed as a student entrepreneur, budgeting is vital. Bringing in budgeting helps you mange your personal finance and expenses.
Follow these steps and you’re well on your way to becoming a great student entrepreneur.
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