Venturing into the world of business can be a daunting task, especially if you’re straight out of university. No one is really 100 percent prepared to face what the future holds but the only thing that really holds anyone back is uncertainty, and then fear.
What some of the most successful business men and women around the world will tell you is that, “Without risk there can be no reward.” This statement holds true in every aspect where business is concerned. So how exactly do you take that first step? Here’s a student’s guide to being an entrepreneur.
Ask yourself the right questions
You’ll also have to sit down with yourself, and maybe some friends and family, and ask these questions before launching your career as an entrepreneur. Consider this a personal test to see if you have what it takes to start your own business.
Narrow down your focus
If you’re thinking of pursuing a career in business and are hoping to one day establish your own commercial entity, one thing you’ll need to consider is what type of industry you would like to be involved in. Ideally, you will have studied an area of interest and will have some inclination as to what this might be.
First know that you don’t really need years of schooling to begin on your journey to success. In fact, many entrepreneurs make their start before they’ve even graduated. Utilise the resources available to you at your university whenever possible and remember to ask as many questions as you can.
Make a plan
So you have what it takes to start your business. Now it’s time to assess your big idea. Take time to work out the kinks, learn from previous successes in the field, and make a business plan to launch your business. Don’t forget to include details about your company’s vision, products or services, a market analysis, and financial plans for investors.
Maintain a proper work life balance
Many entrepreneurs have cited that the freedom of being their own boss was what attracted them to business, but it’s easy to forget what you’re working towards if no one’s there to remind you of your goals.
As such, it’s important to ensure that you make daily progress – even a small amount – on whatever it is you want to have done by the end of the week, month or year to maintain that momentum. This is a concept developed by famed comedian, Jerry Seinfeld called “Don’t break the chain” and has been integral to many people’s creative success over the years.
Is there a secret to success?
Ultimately, there is no one right way to achieve success and it varies by definition. Business is about being creative in the way that you solve and overcome problems, and the more efficient you become the easier each and every tomorrow will be.
The last thing to come to terms with is the realisation that you won’t know everything, and that’s okay. Knowledge in business is learnt, earned and practiced and those are the three things you’ll be doing every day when you wake up to do what you love.
Do you have any more business tips for students? Let us know in the comments below.
Photo: University of Salford Press Office / Flickr
After graduating from Penn State, Sarah Landrum moved to Harrisburg to pursue her career as a writer. She is the founder of Punched Clocks, a site for those looking to find happiness and success in their careers. Follow her for more career advice @SarahLandrum
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