Some of world’s most profitable and famous business ventures were initiated by students. Information Technology giant Microsoft started in Bill Gates’s dorm room in Harvard, Google acquired its starting on Stanford premises as computer science ventures of students Larry Page and Sergey Brin and hundreds of other student firms flourish in almost every sector. Even if you are not aspiring to be another ‘Bill Gates’, or maybe you just wish to make some extra money with summer landscaping businesses, you will need to navigate many challenges, as an immature capitalist testing business waters.
Great Tips for Young Industrialists
- Be radical: In your early twenties or late teens, your thoughts are original, energetic and fresh. Do not hesitate to be experimental with something that no one has ever done, set examples, create off-the-wall products, and shake the existing marketplaces by altering factors like delivery model or a service which renowned firms take always for granted.
- Make out what you wish: Do you visualize your enterprise as side project, or are you wishing to leave the school if the enterprise takes-off.
- Do what you want to do: All thriving business firms have one thing in common, which is, they are passionate about what they do. So, select the business line that suits your interest, irrespective of what you are.
- Do not overlook the rules: Being young industrialist does not exempt one from registering his business firm, paying taxes and keeping records. It is important to follow simple rules to keep away from administrative and legal headaches later.
- Utilize school resources: Being student is not a ‘handicap’ in your business; rather it can prove out to be an advantage. Your school premises offers free computer systems with internet connectivity, potential employees, volunteers and the know-how of experts who would actually be glad to share their experience and knowledge with you. This way, you are literally encircled by resources and people, so maximize the situations.
Learn time management. No doubt, running an organization when going to college or student is difficult and stressful. So, understand what is actually needed from you in roles as business owner and a student, and employ organizational and planning tools. For instance, an online project/time management system or well maintained appointment book can be utilized to make the most of valuable time.
The bottom line is that student time is ripe with huge entrepreneurship opportunities. Maybe, you never have this energy, motivation and resources to start business venture, so get to work right now.
Image via CrunchBase
