Are you one of those people who see opportunities where others see obstacles? Or maybe you are creative, always thinking of innovative ideas and solutions to problems.
The idea of owning your own business excites you! You dream about starting your own venture after university rather than working as an employee.
Chances are that as a student, you’ve taken on a few odd jobs during the holidays or as a part-time gig to earn extra cash.
Whether you’ve worked as a waitress, a shop clerk, or everything in between, it is likely you’ve felt frustrated with the job at some point.
After a hard day at college followed by a long work shift, you might’ve thought to yourself, “I hate this place. I can’t stand my boss. I don’t think I am cut out to be someone else’s employee. I want to do my own thing.”
Be my own boss, have the freedom to turn my ideas into business ventures, work hours that suit me — sounds like a dream, doesn’t it?
Other university students seem to think so too.
Today’s students are increasingly interested in starting their own businesses, but there’s a slight problem.
While the interest is increasing, research by the Centre for Entrepreneurs shows that fewer graduates are chasing after their dream of self-employment.
In other words, many young people dream of becoming entrepreneurs but so few turn their aspiration into a reality.
Students may feel discouraged to pursue an entrepreneurial career for several reasons. For starters, it’s risky.
Just the idea of failure often puts students off. University students may also feel that their entrepreneurial aspirations are not supported by their university.
Blaming the university for lack of support isn’t a justification for abandoning those career goals, though — remember, self-sufficiency is earned, not given!
Universities should offer support and resources for aspiring entrepreneurs, but students must also take steps to develop their entrepreneurship potential while they’re still studying.
Before we talk about ways to prepare for a career as an entrepreneur while still at university, let’s look at the types of entrepreneur careers that are most popular in today’s economy.
Types of Entrepreneurship
This is by no means a comprehensive list, especially considering that the entrepreneurship industry is constantly evolving.
Many modern entrepreneurial careers, however, can be grouped into one of three general categories: digital, social, and intrapreneurship.
Digital entrepreneurship, as the name suggests, involves products and/or services which are delivered through the internet. Think mobile apps, websites, blogs, etc.
This is, unsurprisingly, one of the most popular forms of entrepreneurship in today’s tech and data-driven world.
Social entrepreneurship, on the other hand, seeks to improve social and cultural conditions.
Social entrepreneurs strive to make our society and our world a better place through their business ventures.
Notable examples of social entrepreneurs include Nobel Prize winner Muhammad Yunus founder of Grameen Bank, which helps lift people out of poverty all over the world.
Another notable social entrepreneur is Scott Harrison, whose foundation Charity Water provides safe drinking water in 26 countries.
You can learn more about how Scott started the charity and his tips for young entrepreneurs from this Forbes article.
Intrapreneurship is slightly different — it involves applying entrepreneurial skills within an existing organization.
To put it another way, intrapreneurs are creative problem solvers who work for a firm rather than for themselves.
They typically offer unique, sometimes risky, solutions to business issues to help the company grow.
Many of today’s leading companies value these skills and actively recruit intrapreneurs to add to their talent pool.
In a world that provides instant access to unlimited amounts of information, the possibilities for new start-ups are endless.
But how do you nurture and develop your ideas while you are still studying so that you can eventually transform them into a thriving, full-fledged business?
I am glad you asked.
How you can start preparing to become an entrepreneur today
No matter where you are in your academic journey, if you’re serious about starting your own business, it’s your responsibility to be proactive about achieving your goals.
Here are just a few ways you can prepare for the self-employed life while still at university.
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Attend presentations given by entrepreneurs.
Most universities have a careers department responsible for organizing job fairs and educational talks, as well as offering tailored career advice.
By attending talks hosted by successful entrepreneurs, you can find out what it’s really like to start your own business.
Be sure to check your university’s event schedule or notice board to find out more information, or contact the careers department directly.
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Participate in entrepreneurship awareness workshops.
Much like educational talks, entrepreneurship awareness workshops provide you with the information and connections you’ll need to succeed as a business owner.
Workshops are more involved than talks — you might receive hands-on skills training or additional support in marketing and networking.
Some workshops even offer financial support for start-up ventures, as well as assistance with creating business plans.
Some entrepreneurship workshops may charge a registration fee, but it’s a wise investment to make toward your future.
Some universities offer financial aid to assist with workshop registration fees — contact your university’s careers department to inquire about financial assistance.
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Join a club or society for entrepreneurs at your university.
The community is an integral part of any business, big or small.
There’s no need to wait until you graduate to start making connections with both aspiring and established business owners.
Sign up for an entrepreneurship club or society at your university to network with students who have similar business goals and interests.
As a club member, you’ll typically enjoy exclusive access to events, activities, seminars, and workshops.
Some university clubs even allow alumni, faculty, and staff members to take part, while others host their own events, including competitions and start-up festivals.
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Participate in a business competition.
Ready to test your skills and show that you have what it takes to launch a successful venture?
Show off your skills in a business competition! These might be hosted by your own university, another university or a corporate organization.
Santander Universities Entrepreneurship Awards is just one of many business competitions in the UK that invites students and recent graduates to pitch their business ideas for a chance to win a cash prize.
Don’t feel ready to compete just yet? Ask your university’s careers department for more information about local business competitions — and arrange to attend one.
Use the opportunity to speak to other up-and-coming entrepreneurs and ask any burning questions that you have about business competitions.
Observe every stage of the competition and take notes. Hopefully, this will give you some good ideas and fill you with confidence to take part in future competitions.
Don’t forget to sign up for email newsletters to stay up-to-date on these events.
Conclusion
If you are a young entrepreneur with aspirations of owning your own business, start developing your potential while you’re still studying!
Here are a few actions that you could take to prepare for an entrepreneurial career:
- Attend presentations given by entrepreneurs.
- Participate in entrepreneurship awareness workshops.
- Join a club or society for entrepreneurs at your university.
- Participate in business competitions.
Start building toward start-up success?
Need more advice on making the most out of your university experience? That’s what we’re here for.
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