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What it Takes to be a Successful Entrepreneur as a Student

What it Takes to be a Successful Entrepreneur as a Student

Many are of the opinion that it is not possible to run a business successfully[1] as a student. But this is not true—you can be a successful entrepreneur and still come out in flying colors in your school obligations. Becoming a successful entrepreneur as a student is achievable, but it is very important for you to have a goal. Having a goal is placing a target in mind. What goals do you have to achieve in life? What is your plan, and how do you intend to achieve this goal? Combining school work and business is not easy, and will take a lot of hard work. Here are 5 tips to help you to be a successful entrepreneur as a student.

1. Evaluate Yourself

Know yourself! If you don’t understand your skills, your abilities, there is no way your goals can be achieved. Evaluating yourself means knowing your weak points and strengths, then channeling this into the decision making process of the business. As a student, you will have a strict schedule, especially due to classes, studying, and other assignments and project work, so evaluate yourself to know if your business will fit around your schedule and not detract from your school activities.

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2. Have a Good Idea (and a Plan)

What do you want to do? Plan out everything you need to have your own business.  Do you want to run the business alone as a student? Or you want someone that would help you run the business? Is it going to be a joint business? How much capital do you need in your business? You don’t start a business without a plan; it takes time and enough smartness to draw a plan. How long do you need for you to have a successful business? How many months do you need to start up your business? 3 months? 6 months? You need to answer questions like these to set you on the right pedestal when kicking off. As a student you will need a well-structured plan with concrete research on the line of business.

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3. Research the Competition

There are definitely others who have being in this field before you. Find out the tips used by the successful ones, and the mistakes of those who have not succeeded in the field yet. By knowing their mistakes, you can try to avoid making the same ones. It will also help you be creative in your business, and help you realize what will make you stand out from the crowd. You can also make inquiries to your colleagues in school who engage in such businesses, or who have an inclination for business, or have a business sense.

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4. Seek a Mentor

It is very important to have a mentor who would teach you the rudimentary aspects of the business. They will not only teach you the basics, he would also help you when you face challenges in the industry. As a student, you will need a mentor who will guide you and keep you in check, and who can support you, help you network, and share knowledge with you to help you overcome challenges in the industry. When you have a business mentor, you know the tricks and tips he/she has used to reach the point they are in their businesses.

5. Promote Your Business

Make your business known to others. Make use of the various mediums used for promoting businesses[2] both in the digital and physical space. As a student, you have classmates or professors you can talk with to help you network and market your business[3] to their friends. There are lots of social media platforms such as Instagram, Twitter, Pinterest, Facebook and many more where you can promote and tell the world all about your business—this could even help you get patrons. Depending on how large you want your business to be, you can hire marketers to help you market your products and services.

There are going to be a lot of challenges on the road to success, but one thing to note is that Mark Zuckerburg, Bill Gates, and many other entrepreneurs never gave up on their goals just because they faced challenges, or started at a young age. Even when their businesses faced challenges, they kept their focus straight on their goals, and that is why they are at the top today.

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Reference

[1] http://www.lifehack.org/articles/productivity/10-ways-build-successful-business.html
[2] https://siftery.com/categories/digital-marketing/brand-marketing
[3] http://www.lifehack.org/397137/5-ways-you-can-market-your-business-on-the-internet-today

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Tanvir Zafar

The founder of ISU Technologies, passionate in writing about productivity, creativity, entrepreneurship, work and technology.

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Last Updated on June 13, 2019

15 Best Entrepreneurs Books to Start Reading Now to Be Successful

15 Best Entrepreneurs Books to Start Reading Now to Be Successful

Knowledge is power, and you’re going to need a lot of it if you’re going to be able to steer your business to success.

Without further ado, let’s take a look at the 15 best entrepreneurs books to get inspirations about success and grow your business.

1. Think and Grow Rich by Napoleon Hill

    This book has been dubbed the Granddaddy of All Motivational Literature, and it was actually the first book that gave a prescription of what it takes to be a winner.

    Napoleon Hill draws from the stories of millionaires like Henry Ford, Andrew Carnegie, and Thomas Edison to illustrate the principles he put forth.

    Get the book here!

    2. The Lean Startup by Eric Reis

      A lot of startups end up failing, but many of these failures are actually avoidable. The Lean Startup provides a different approach that is now being adopted all over the world and changing the way that companies are developed and products are being launched.

      In The Lean Startup, Eric Reis describes what is required for a company to penetrate the fog of uncertainty in order to discover a path to a sustainable and successful business.

      Get the book here!

      3. The E-Myth Revisited by Michael E. Gerber

        In a revised edition of the 150,000-copy bestseller, The E-Myth, Michael Gerber refutes some of the myths that surround starting your own business and shows just how commonplace assumptions can end up getting in the way of being able to run a successful business.

        Gerber succeeds in walking the reader through the steps that occur in the life of a business, from infancy, through the pains of growing as an adolescent, to the perspective of the mature entrepreneur.

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        Get the book here!

        4. Rework by Jason Fried

          Most of the business books that you get today will give you the same advice: draft a business plan, study the competition, look for investors, and all that.

          However, Rework shows you a more effective, easier and faster means of succeeding when running a business. By reading it, you’ll be able to know why some plans are harmful, why you don’t really need to get investors, and why you’re better of shutting out your competition.

          Get the book here!

          5. How to Win Friends and Influence People by Dale Carnegie

            This is one of the most successful motivational books in history, selling well over 15 million copies since it was released in 1936. The book is timeless, and it appeals to businesses, self-help startups, and general readers.

            Carnegie believes that a lot of successes come from an ability to communicate rather than having brilliant insights. In his book, he teaches how to value others and make them feel appreciated and loved.

            Get the book here!

            6. Outliers: The Story of Success by Malcolm Gladwell

              Through this amazing book, Malcolm Gladwell is able to take the reader on an intellectual journey through the world of ‘outliers’. He asks the question of what truly differentiates high-achievers.

              His answer to this question is that we tend to pay too much attention to what successful people are like, and less attention to where they are actually from.

              Get the book here!

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              7. Rich Dad, Poor Dad by Robert T. Kiyosaki

                This is the best personal finance book ever written. It tells the story of Kiyosaki and his two fathers; his real father, and that of his best friend (his rich dad), as well as how the two men helped him shape his opinions on money and investing.

                It refutes the myth that you need to earn high to become rich, and it distinguishes between working for money and having money work for you.

                Get the book here!

                8. The Ascent of Money: The Financial History of the World by Niall Ferguson

                  Niall Ferguson, in this book, follows the money to tell the story behind the evolution of the word’s financial system, from the beginning way back in ancient Mesopotamia to the latest occurrences in what he had dubbed Planet Finance.

                  Fergusson also reveals financial history as the backstory behind our very own history, with an argument that the evolution of debt and credit is as significant as the history of technological innovation and the rise of civilization.

                  Get the book here!

                  9. Liar’s Poker by Michael Lewis

                    Michael Lewis landed a job at Salomon Brothers after getting out of the London School of Economics and Princeton within three years, he had risen to the rank of bond salesman, making millions for the firm and cashing out steadily.

                    Liar’s Poker is the amalgamation of these years — a look behind the scenes at one of the most turbulent times in American business. His book is Lewis’s account of an era where greed and gluttony were the order of the day.

                    Get the book here!

                    10. Drive: The Surprising Truth about What Motivates Us by Michael H. Pink

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                      A lot of people see money as the best motivator. Michael pink says it’s a mistake.

                      In this provocative book, he asserts that the secret to high performance anywhere is the need to direct our lives, to learn and create, and to do better by our world and ourselves.

                      Get the book here!

                      11. Getting Things Done: The Art of Stress-Free Productivity by David Allen

                        Outdated methods don’t work in today’s world. In this book, Allen shares some awesome methods for stress-free performance that he has shared with thousands of people all over the world.

                        His premise? That productivity is proportional to your ability to relax.

                        Get the book here!

                        12. The 7 Habits of Highly Effective People by Stephen R. Covey

                          In this book, Stephen Covey presents a holistic approach for overcoming both professional and personal issues. With insights and anecdotes, Covey presents a way to live with integrity fairness, service and dignity.

                          Get the book here!

                          13. The 4-Hour Workweek: Escape the 9-5, Live Anywhere, and Join the New Rich by Tim Ferriss

                            In this book, Ferriss dishes on the tips he has learned from studying the New Rich, a subculture of people who did away with the deferred life plan and mastered time and mobility to developed luxury lifestyles for themselves.

                            If you’re looking to make your way in this revolutionary new world, this here is your compass.

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                            Get the book here!

                            14. Delivering Happiness: A Path to Profits, Passion, and Purpose by Tony Hsieh

                              The CEO of Zappos shows how a unique kind of corporate identity can help deliver a huge difference in the way results are being achieved — by creating a company that values and delivers happiness.

                              Get the book here!

                              15. Losing My Virginity: How I Survived, Had Fun, and Made a Fortune Doing Business My Way by Richard Branson

                                From Virgin Atlantic Airways, Virgin Records and V2 to Virgin Cola, Virgin Megastores and a wide array of other companies, Richard Branson is the rockstar billionaire that a lot of us want to be.

                                Branson, however, did business by following a simple philosophy:

                                “Oh, screw it, let’s do it”

                                Losing My Virginity is an unusual, borderline outrageous autobiography of one of the greatest business geniuses in the world. Branson and his friends named their business “Virgin” because that was what they were — virgins at the game.

                                Since then, he’s written his success rules, creating a global business that has no headquarters, no management structure no corporate identity as it were.

                                Get the book here!

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                                Featured photo credit: rawpixel via unsplash.com

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