Juggling your course load and building a solid foundation to launch a company is certainly a trying task taken on the the brave men and women aspiring to be successful entrepreneurs while still in college. In an age where a college degree doesn’t guarantee financially sustainable career placement, the path of the entrepreneur is continually more appealing to grads (read this).
If you’re considering paving that path, take a look at 6 challenges we all face and consider what changes, if any, you will have to make to reach your goals efficiently. These are in no particular order:
Effective time management
Your favorite show is on, there is a basketball game, your friends are going out and you have looming deadlines for school and work. This is another night in the life of a collegiate entrepreneur. Juggling your social life with your start-up and course load isn’t always easy. “If it was easy, everyone would do it…” Budget your time like your money and plan out your assignments in advance using one or more calendars. Staying organized is required to be successful.
Working through high stress situations
Pressure. Some people thrive with mounting pressure, others struggle. Regardless of which category you fit into, dealing with fast paced, high stress environment comes with the territory for any small business owner, and college student, at that. Learning how to manage stressors, stay goal oriented and focus on getting results will prove extraordinarily beneficial on the path to college graduation and professional success.
Conservative financial planning
Books, food, entertainment and rent… Sounds like enough of a financial burden for many college students. Now add to that business expenses such as design and development, legal fees, marketing fees and other business related expenses. Setting a tight budget is critical to your success. Figure out what you can spend each week and allocate it appropriately. You might have to wait when the next Grand Theft Auto comes out to play it when a friend is finished, but it will be worth it when that $50 you spent on something that contributed to your business turns into something that brings you one step closer to generating revenue.
Surrounding yourself with motivators
From friends to colleagues, it’s important to constantly surround yourself with people that motivate you to be the best in everything you do socially and professionally. Acquiring a professional mentor or advisor is a great way to begin building a professional network and learning valuable lessons from someone who has learned from mistakes over the years. Your friend Mary Jane might be awesome to hang out with – but is going to some shin-dig with her worth more to you than a night of work with your development team?
Learning to say “No!”
Forward thinking people often become entrepreneurs because they understand how to get creative and solve problems. People of this nature are highly targeted by organizations and individuals alike: “Come help us,” they might say. Be sure to avoid getting involved in projects that you are not passionate about or that will limit your ability to focus on your priorities.
Age discrimination
Many times young entrepreneurs may face age discrimination in professional environments. In addition to presenting yourself well, be sure to speak properly, address others with respect and show that you are’t another college student waiting to see what this weekend has in store. Always act wise beyond your years, so to say.
Some of the best ideas come from innovators that have yet to earn any type of degree. Don’t let that piece of paper hold you back. If you have an idea that will create a solution for a current problem, fill a gap in a given market, or streamline a process for existing businesses, get your ideas on paper and do something about it!
I’m on Twitter! @ZackHuhn @SINDC
Also Read:
More College Grads Are Pursuing Entrepreneurship
Need A Job? To Bad, So Sad…. (editorial)
Top 10 Careers for College Grads
How To Effectively Leverage Your Internship
8 Reasons You Hate Your Corporate Desk Job
