The largest technology companies – from Google to Facebook and Microsoft – are founded by students. But even if you do not become a businessman from the first try, you will be able to gain experience that will help you build a company after graduation.
1. Do not expect to quit university
– “I will become the next Zuckerberg or Cameron Jones”.
After Mark Zuckerberg created Facebook at the university, and Cameron Jones launched a gift business at the age of 9, which brought him more than a million dollars in income, it’s no secret that you can become successful and rich at any age. But there are a few examples like this. Do not be naive.
– “I’ll start something grand, and then I will leave the university.”
Every student entrepreneur at least once said this. It is unlikely that you can just drop out of school and build a legendary startup. Until your company becomes so successful that you do not have a single free minute, do not expect that you can say goodbye to the educational system.
To open a successful startup, it is not enough just to quit university. Adolescents now have a huge advantage over the past generation – a large number of resources for collecting information and knowledge than ever before. If you have the courage and perseverance to take advantage of this, then the possibilities are simply unbelievable. Learn. Finish university.
2. Startup culture is largely embellished
Startup success is now being judged under the wrong, overly glamorous and embellished scope.
– Is it going to be the next google?
– Will he become a unicorn?
– They attracted 100 thousand new users in six months?
Entrepreneurial students are easily led by all these ambitious ideas about how to become fabulously rich and famous by opening a startup. But such an attitude will not bring any value to people – especially your customers. What is the mission of your startup: bring you fame or change the world?
Focus on implementing a startup’s vision and success will come to you by itself.
3. Be persistent
The philosophy of money draws schoolchildren and teenagers into the business cycle, not to mention students. They want to make money as early as possible, be independent, travel, buy branded clothes and have funds for entertainment. Being a student is the time when thoughts about your personal future are most productive. Take time out for your business every day. It doesn’t matter if you have the final day of passing the project or exam. Give startups at least 1% attention daily. It will not build himself.
If you plan to build a successful company, you need to understand that this is not some kind of third-party project. If you feel that you are stuck with you studies and paperwork hire professionals who will help you to write essays for money uk and continue with your startup without worries.
When time passes, you will get to the conclusion that you need to delegate tasks and hire employees. It’s a little unusual to hire someone on your team as a student, but it’s necessary. You need someone’s help. But it’s only if you succeed in the first place.
4. No one will steal your ideas
Often, entrepreneurial students worry that their startup idea will be stolen if they tell someone about it.
The fact is that ideas without an action plan are worthless. You can tell everyone that you are programming a new search engine that will be better than Google, but until you tell how you write an algorithm for this, nobody will be interested.
On the contrary, you need to share ideas. This is the only way to improve them.
5. Competition is good
Competition is inevitable, and there are three reasons why this is good:
– Your competitors may make mistakes. Learn from them.
– If other companies are developing in the same market as you, then it is promising.
– Competition is an occasion to improve the company’s offer.
Therefore, do not panic if you suddenly find out that you have a competitor.
6. Do not do everything yourself
No one can do everything by himself. At the very beginning, you’ll try to learn everything on your own: frontend development, marketing, and finance.
However, you’ll quickly realize that you have neither the time nor the ability to do a good job. You’ll need to delegate tasks and hire employees.
7. People like to help students
Many businessmen insist that if you built a business as a student, that is only because you have access to various resources (internships, seminars) that they did not have. Moreover, these founders would hardly talk to you if you were not a student.
They are right: for students, many things are free. Universities provide young entrepreneurs with resources to get started. You can even ask your friends to help. So don’t hesitate. Use this opportunity.
8. Business models matter no matter what you do
At the very beginning, young entrepreneurs believe that business models are needed only for commercial enterprises. But this is not true.
In a world where money rules, it is almost impossible to realize a vision without funds. By creating a reliable monetization strategy, you can make people’s lives better and, at the same time, earn money necessary to scale the company.
9. You need to know why you are doing business
If you do this for the sake of fame, I have bad news for you. Elon Musk once said: “Opening a startup is the same as chewing glass and looking into the abyss.” And this is true, especially when you are still studying at the university. If you decide to open a company while studying, be prepared for the fact that you have to sacrifice sleep, education and social life.
Therefore, you must have a good reason why you are doing this, which will motivate you in difficult times.
10. To become an entrepreneur, you must be an entrepreneur
This is the most important lesson. You can better understand entrepreneurship by looking at the biographies of famous businessmen and startups of the past.
But there is nothing better than experience. Vision, the ability to get out of difficult situations, can be acquired only after you plunge into this environment. To become an entrepreneur, you need to be an entrepreneur.