Thursday, 17 September 2015
How Entrepreneurs Can Balance School and Business
Although many student entrepreneurs may think it’s best to wait on their budding business idea until they graduate, some savvy entrepreneurs are jumping into business while still in school. How do they manage both?
These are few things that those who are making waves in their business are doing even though they are still a student.
Your academic is more important, though the business is also, but two rams cannot drink inside a small pot, one will injure the other. Therefore, it is reasonable to make your academics your priority and make your business as a subordinate activity.
It is advisable for students to engage in a less time consuming business in order to have time for their academics, which will later be a boast for the business in the future.
As a student, you have to attend class, do some assignments, read for test and exams and even go for field works. These may consume most of your time and may defer you from attending to your business.
Setting a schedule on how you will use your time (time management) will be of great help. This will allow you to be active as a student and also maintain your business. Writing out your activities for each day and even for the week will give you a clue on how and when to attend to your business. This will give you an avenue to maintain and sustain your business pending the time you are still in school.
Getting grants from the government, profit making organization and non-governmental organization (private companies) will ease the stress of getting the capital to start the business or developing it. This will save you as a student entrepreneur from time consuming activities in terms of capital acquisition since the capital needed for the establishment or developing of the business can be access from those channels.
If you’re looking for co-founders, getting involved with student organizations can help you meet like-minded people. School can also be a great place to get some startup capital. Many universities hold business-plan competitions that dole out prize money or can help connect you with potential investors. A friend of mine and her partner entered a competition during her first year in university which ended up netting them their first investor.
Not every student entrepreneur can combine their academic works with a business. Creating a balance environment for your academics and business all boils down to your potentials and ability of the individual student. Therefore, look in deep at yourself and check your potentials .”THINK BEFORE YOU ACT”!!!!