It is fact that loads of entrepreneurs did not go through entrepreneurial training before launching their businesses, which is why much business closes shop before their 3rd anniversary. Entrepreneurial college is a place where aspiring entrepreneur enroll to learn the rudiment of starting and growing a business. Statistics has it that majority of the start – up businesses that survives are managed by people who have undergone formal or informal business / entrepreneurial training.
So, if you are looking towards starting a business in the education industry; one of your options is to start an entrepreneurial college. It is a highly thriving and profitable business to start. Just ensure that you apply and obtain the required license and accreditation from the department of education in your country.
1. Prioritize
Finding your priorities can be a challenge. First, determine your short-term and long-term career goals and how institute fits into them.
2. Choose the right courses
If you’re concerned about good grades, bridge the gap between institute and work. Choose a major or elective that benefits your business model and helps you strategist. Pick classes to meet expert professors and other like-minded individuals. Attending courses related to your venture helps save time and allows more practice with your business endeavors.
3. Utilize school resources
As part of your tuition, colleges and universities offer several free resources you can utilize while starting your business. Copy and print services, free wifi, online resources, and library materials are indispensable tools to help progress your business interests. Plus, you should be able to get discounts on student software. (On average, 65 percent of small businesses spend a quarter of their budget on technology). Many entrepreneurs pay for their startup out of pocket at first, so maximize on resources while they’re free.
4. Connect with other students
College offers students lots of spare time. While you’re building your business, connect with fellow classmates and students for recruitment opportunities. Consider pitching the idea of collaboration to them and make it a learning opportunity for everyone. Many startups have employed students for onboarding.
Pro tip: Check if your school provides an entrepreneurship or business department with alumni connections. Departments within the business school can assist entrepreneurs with business strategy and finding lucrative mentors.
Related: 5 Habits of the Wealthy That Helped Them Get Rich
5. Ask business-minded questions in class
In order to produce a high-quality business product, you’ll have to test everything carefully. First, you have to find a work strategy so you know how much time to allot for collegework and business. Examine your competitors’ sales strategies and test your product in your college community. Ask fellow students, niche demographic organizations, or campus groups these three questions:
- Would you use this business/service?
- What makes the business desirable?
- What would you improve?
6. Find funding options
Financial growth is an important factor in the early stages of any business. If you’re looking to generate money flow, college is a great way to find funding sources for your startup.
Crowdsourcing offers unique funding opportunities. This method is now helping to generate startup revenue and draws attention from businesses and investors.
7. Create a schedule and checklist.
Feeling overwhelmed? Many students and entrepreneurs benefit from creating a to-do list. If you need to fit in goals each day, make yourself a daily checklist and highlight the most important deadlines. Checklists help you stay focused and optimize specific goals.
8. Learn to say “no.”
Knowing your boundaries is an important part of becoming a business leader. As you study in school, be sure to make a routine for your college work and business endeavors. But say “no” to any that overextend you.
If friends invite you out for drinks, it’s ok to say “no.” Designate weekends for maintaining relationships or enjoy a drink while at a networking or business event.
9. Find a mentor
College offers a vast network to help you meet seasoned professionals and expand upon ideas. Finding mentors is one benefit of college networks. Ask mentors if they can introduce you to local business development offices or experts in the field. As a student, most people are generally willing to help you. Mentors are there to offer sage advice, coaching, and opportunities to connect with businesses for college credit.
