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Expert Answers to Biz Questions
Listen in! Pick up some expert advice to a reader's question that we selected from CyberSchmooz.
How to Be a Successful Student-Entrepreneur
Is it possible to attend school full- or part-time and run a successful business at the same time? As the old saying goes, “The proof is in the pudding.” In other words, millions of enterprising students are already running their own companies while carrying full or part-time course loads. So, the questions aren’t “Can it be done,” but “How do people do it?” It’s interesting to note that some of the most successful student-entrepreneurs decided not to quit school. They spent time mastering the art of networking, know how to create and stick to a schedule, understand the secrets of self-promotion, and carefully chose the field in which they toil. Here’s a quick look at the skills it takes to attend college while running a profitable organization.
Master the Art of Scheduling
If you intend to work at any job during college, you need to learn how to make and stick to schedules. Fortunately, there are plenty of helpful apps that will let you create a detailed schedule for every day of the week, right down to the hours and minutes you will spend on each task or activity. But, no matter how you slice it, the life of a student who also runs a business is based on daily schedules. Take the time to learn this valuable skill and it will serve you well for the rest of your life.
Choose the Right Line of Business
Most entrepreneurs choose a type of work they enjoy. If you find yourself getting into a market niche, just because you heard, “That’s where the money is,” then you’re in the wrong line of work. Try to choose a field that intrigues you or that you already have some experience with. All the leaders in various segments of business chose their specialties because they enjoyed the work, not because they smelled money.
Don’t Quit College
Although times may become stressful, it’s important to not quit school in order to operate a company. If you must give up one pursuit, or at least put it on the back burner for a while, keep attending college and halt your entrepreneurial pursuits. It’s essential to complete your education. A smart way of financing your tuition payments is with a student loan. Education loans come with relatively low interest rates, long repayment times and are relatively easy to apply for.
Learn to Promote Yourself and Your Brand
Read books and take marketing classes. It’s important to learn how to promote yourself and your brand. This means mastering things like social media, advertising techniques, resume-writing (to promote yourself), personal interviews, job hunting, basic sales techniques and more. Learning to advocate for yourself and your organization is another one of those skills that will come in handy throughout your entire career.
Learn to Network
Learn to leverage school, company and personal networks to your advantage. While you’re still in school, it’s the ideal time to begin building a long-term data base of contacts for your future network. Don’t underestimate the power of who you know.
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