Certain factors should be determined before starting any kind of business in college. At first, priorities should be decided. The long-term and short-term goals relating to career must be sorted. A business strategy should be worked upon for a few days. In accordance to Myassignmenthelp, “If an individual is concerned regarding good grades, then the gap amid school and work must be bridged. A specific major or elective must be chosen that benefits the business model and helps to strategize. Classes should be picked in order to meet expert professors and other like-minded individuals. Attending courses related to the venture helps save time and allows more practice with the business endeavors.” As per experts, “A for-credit independent study course should be taken for a semester or quarter. This shall permit and enable to focus on research for the business. During any other semester, a project-based entrepreneurship class should be taken in order to gain experience creating prototype designs for products and/or strategy or marketing development for the business.”
Many resources that are free are offered by the schools and such institutions must be utilized in order to commence the business. As per Edubirdie, “Copy and print services, free wifi, online resources, and library materials are indispensable tools to help progress the business interests. Plus, any student should be able to get discounts on student software. (On average, 63 percent of small businesses spend a quarter of their budget on technology). Many entrepreneurs pay for their startup out of pocket at first, so maximize on resources while they are free.”
As forwarded by some institute, “In order to produce a high-quality business product, a student shall have to test everything carefully. First, the student has to find a work strategy so that the student knows how much time to allot for schoolwork and business. The competitors’ sales strategies should be analyzed and the product should be tested in the college community. Questions should be asked to the fellow students, niche demographic organizations, or campus groups. They are as follows:-
- Would you use this business/service?
- What makes the business desirable?
- What would you improve?”
It has been stated by Keith Okano that a college student should search for anything, for which the general populace are inclined to pay. The college beginner shall be able to charge the general populace for such thing as the general populace are inclined to make payment for it. With the help of such business the college students shall be able to gain experiences and expertise and such college students shall be open to several innovative ideas. “Financial growth is an important factor in the early stages of any business.”
As several entrepreneurs know, committing and bestowing energy and time to any business venture is considered to be a separate job altogether. It takes strength of will to commence a business at any particular age, however, starting the first enterprise while still studying in college or school is particularly challenging. Yet, it can be said that certain of the most famous and celebrated CEOs had their big and revolutionary ideas while they were studying in college. Mark Zuckerberg of Facebook.com, Michael Dell in connection to Dell Computers, and Steve Berkowitz of Insomnia Cookies, each one of them commenced their businesses in the campus or the dorms. In the present day, the young entrepreneurs are keen on emulating these successes prior to graduating college.
Balancing the schoolwork or college work as well as the entrepreneurial dream can be considered to be troublesome and difficult for the students. Several students are unwilling to follow the plans relating to businesses when they compare it with the fruitless tuition, however, it may be said that the two does not have to be conjointly exclusive. A checklist and a schedule must be created in order to balance everything. Luckily, in the present times it is considered to be a good time to advance the entrepreneurial spirit while in staying in college. A mentor shall be able to help in the field relating to the business.
As per economics consultant, “In 2016, the Organization for Economic Co-operation and Development (OECD) suggested a revival for entrepreneurial growth and improved economic development. In addition, the US Bureau of Labor Statistics reports it’s still a safe bet to finish college. Graduates with bachelor’s degrees or higher have higher employment rates and earning potential than those who finish some or no college. In addition, the 2016 Kauffman Startup Activity Index reports new entrepreneurs that are college grads has increased from 23.7 percent to 32.7 percent since 1997.”
Author bio: Ricky is a senior marketing professional for a reputed firm in Australia. He has expertise in content marketing and social media marketing. He is associated with Topassignmentreviews.com working as an advisor and consultant.