Here is How You Can Become a Successful Student Entrepreneur

Mark Zuckerberg, you know him as the founder of Facebook. But, did you know that he started Facebook in his dorm room while attending Harvard? The same can be said about Alexis Ohanian and Steve Huffman, the founder of Reddit, who started their website while enrolled at the University of Virginia. Add these names to the very long list of the countless other student entrepreneurs who make a bold impact on the world, all while earning their degrees. 

Want to know the best part? You too can learn how to become a successful entrepreneur if you believe you have what it takes to be one! With some persistence, skills, knowledge, and devotion, you can start your own business at the same time as you are studying to earn your degree. 

We’re going to share some of our favorite tips so you can join the list of successful student entrepreneurs. 

Tips to Be Successful in Business 

While the road to success looks different for everyone (and trust us, it’s rarely a straight shot), there are some proven best practices that can make a big difference in reaching your business goals. Since students have a lot to manage while in college, keep in mind these recommendations so you can make the most of your time. 

1. Create a Plan (But, Be Flexible) 

Every business starts with an idea. The idea then gets put into action with a solid plan. In business terms, the plan can be thought of as your business strategy. This includes considerations like your value proposition (or what your business has to offer/the value it brings to customers), your target market (who your audience will be), and your mode of operation (how you plan to take the business from an idea through its go-to-market plan). Regardless of where you start or what you have in mind, one of the best things to be when starting a business is flexibility. You’ll run into hurdles and challenges, but it’s most often an entrepreneur’s ability to pivot and shift with agility that makes the difference between success and failure. 

2. Find a Mentor 

As with anything in life, it pays to learn from those who have come before you. Businesses look to place a price on everything so that they can assess expenses and profit. But, when it comes to mentorship – it’s priceless. A mentor is a leader and someone you can trust to provide you with advice, answer questions, and help build your network of connections. You can get started finding a mentor through your college or in networking groups. 

3. Be Persistent 

It’s crucial to not give up on your student entrepreneurship journey. To be able to do so, it means having the right mindset. Things will undoubtedly get difficult, and you’ll likely find yourself with a lot of questions. Persistence will get you through the tough times so that you can find your way back into the light. 

4. Learn from Lessons 

Rather than viewing everything as failure versus success, it’s helpful to think of the entire experience of building a business as a journey. To be able to avoid repeating mistakes, look at everything as a lesson. This way, you will be able to learn from lessons and improve with time. 

5. Trust Your Gut

Ever had a gut feeling that something was or wasn’t right for you? Everyone has gut feelings, but many people overlook them. Be sure to trust your gut and trust yourself. A great way to start trusting your gut more is to take time to meditate or clear your head. By doing so, you can become more in tune with your body and recognize the signs of when decisions feel right versus forced. 

6. Prioritize Your Mental Health 

If your mental health isn’t taken care of, nothing else will fall in line. As a student, you have to manage your schoolwork, familial responsibilities, work life, and friendships. That means that you’ll find yourself being pulled in many different directions. It’s crucial to take time for yourself and prioritize your mental health so that stress doesn’t get the best of you. Check out this resource for how to care for your mental health while in college. 

7. Be Organized 

It’s also vital to remain organized. When starting a business, you’ll have to take care of the administrative side of things, marketing, ideation, execution, and all else that goes into bringing your ideas to life. Organization is key so that you know where to find what you need and reduce the feelings of overwhelm that are associated with having too many things in different places. 

8. Take Risks 

Student entrepreneurs have one main thing in common regardless of the businesses that they start – they all take risks! It’s a risk to start a business from the get-go. And, then, once you’re operating, you’ll find yourself facing more risks and taking them on to grow your business. Remember, everything in your entrepreneurship is a journey, so the ability to take on calculated risks often proves to be the spark to reap the results. 

Consider an MBA 

Technically, you can study anything you want and become a student entrepreneur. However, if you have a knack and interest in starting a business, it can behoove you to enroll in a business administration program. 

The University of the People offers a degree in Business Administration at every level, starting with an associate’s degree all the way to a Master’s in Business Administration (MBA). You can also enroll in a non-degree certificate program to learn new skills and enhance your knowledge. 

Plus, the University of the People is entirely online, which means that you gain the utmost flexibility in balancing your entrepreneurial endeavors with your educational goals. To learn more about how to become a student at our tuition-free institution, visit this link. 

Closing Thoughts

Student entrepreneurs are an impressive bunch! You can become a student entrepreneur as well. All you need is a great business idea that adds value to the lives of your target audience, a plan, and a resilient mindset. Once you take action, remember to learn from your mistakes and keep your eye on achieving your goals, both in school and in your business. 

Academically and entrepreneurially, don’t be afraid to ask for help, make mistakes, and take risks. It’s how you get from where you are now to where you want to be in the future!