six steps to help students can become entrepreneurs

6 steps to help students become entrepreneurs

Youth may be wasted on the young but, increasingly it seems, it is also no barrier to starting up a new business.  And many students are taking the lead in the creation of new start-ups, balancing academic work with the joys of entrepreneurship.

That balance is a tricky one, and is greatly helped by discipline and self-awareness – two assets which make anyone in business see things more clearly. And for those running two lives, as students and as business-types, that’s even more true.

This infographic from the combined might of the Westminster Bridge Student Accommodation and Urbanest Student Accommodation covers what it takes to become a student entrepreneur:

Self-awareness: The ability to self-evaluate and see what you have as genuine qualities, strengths and weaknesses.

An idea: Often thought, with some foundation, to be the most important bit. What are you actually going to do/sell/deliver?

Understanding of the competition: You won’t be the only one doing it. What do the others do well, that you have to match, and do badly, that you have to be better at?

A business plan: Don’t just wing it. Plan it.

A mentor: You don’t know everything. Someone else will have been in a similar place before you. Use that wisdom.

A legal basis: Register your business. Make it legal. Pay your taxes. Don’t think you’re above all that.

Get all that right and you’re well on the way. When you’re a trillionaire, remember us little people…

Thumbnail by Hamad AL-Mohannna via Flickr cc

Written by Jimmy Leach

Jimmy Leach is a digital consultant, working with clients in the UK, USA and UAE. And places which spell out their names properly too.

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