Student entrepreneurs are people with their own business ventures who are currently enrolled in school. They are often in college and might study entrepreneurship, but that is not always the case. There is no minimum or maximum age for someone to become an entrepreneur, so start your own business when you feel you are ready. Successful student entrepreneurship is all about launching a startup focused on a problem-solving idea, paired with the personal energy, desire, and ability to meet consumer demand.
Got a great idea and the desire to pursue it? Be inspired.
According to Forbes, 90% of new American billionaires are self-made.
Seriously – Be Inspired.
What is entrepreneurship?
Entrepreneurship is the process of starting and running your own business venture in order to achieve success and make a profit.
Whether entrepreneurs create the idea for the product or service themselves, or buy into a business in some way and build out the plan, their steps are similar.
- They have the product or service they wish to sell.
- They analyze the market and identify a gap they can fill.
- They build out the business proposition. They determine the risks and the logistical and manufacturing needs. They also consider their time and the funding needed to operate.
- When it’s a go, they determine where, when, and how to get started.
- They take what want to accomplish, what they know vs. what they need to do, and write a business plan.
- They create SMART goals as part of that business plan.
- Then they create daily activities which are prioritized to help achieve those goals.
Your finances will be key. Your approach may be to work another job to cover your personal expenses and fund the business, or you might pursue investors. You do what it takes during often lean early years to create and deliver on a consumer’s purchase.
The world of entrepreneurship is dynamic and full of excitement. Each situation is unique.
Successful entrepreneurs are confident and possess similar business habits.
- Display strong leadership skills.
- Develop a strong sense of self-awareness.
- Stay out of your comfort zone!
- Set goals.
- Take responsibility.
- Embrace change.
- Have a growth mindset.
What is a student entrepreneur?
A student entrepreneur is a person who started a business and is currently enrolled in school.
They are often in college, but that is not always the case. They may attend college full-time or part-time, or may still be in grade school.
Check out Daryl Antonio Rejas, Jr., who published his first book Panda’s Twinkle-Twinkle Toes in grade school. He is committed to stop bullying and raise mental health awareness for young men, and his young age didn’t stop him!
If you wonder about your timing and if you can do this, look no further for inspiration.
Student entrepreneurs work their student life and entrepreneurial spirit into their schedule.
Juggling coursework and business tasks can be stressful, but those with an entrepreneurial mindset find a way. Sometimes that way prioritizes school over the business. Sometimes a successful business needs full-time attention and an alternative class schedule.
There is no right way. We meet our personal needs.
Student entrepreneurs differ from adult entrepreneurs.
The difference between student and adult entrepreneurs comes down to the actual definition and the resources available to them.
- Student entrepreneurs are young people who engage in business ventures while still pursuing their academic studies.
- Starting your business journey before life’s trials and tribulations wear on you is a distinct advantage.
- Young entrepreneurs have very high levels of enthusiasm and creativity. They also foster high levels of innovation because they are still exploring their interests with a high level of passion vs. business experience. In other words, they have seen and experienced less failure.
- Their resources include entrepreneurship education and programs which provide experience while building practical skills.
Adult entrepreneurs are better at considering risk, and creating innovative backup plans due to their experience in the business community.
- Older entrepreneurs use their knowledge, practice, and expertise to turn innovative business concepts into successful ventures.
- Years of other experience either as a participant or by learning through the experiences of colleagues help them more successfully gauge the likelihood of success and failure.
- Operating in a more established business environment enables them to identify new opportunities and keep up with the changing market trends.
- Their established networks lead them to resources and support for their collaborate or business development endeavor.
Both student entrepreneurs and adult entrepreneurs play a critical role in promoting entrepreneurship in their respective communities.
Educators and universities engage and embrace student entrepreneurs and their business ideas.
In recent years, entrepreneurship has become a more accepted and popular alternative to working for “the man.” A spark ignited!
Universities responded by creating majors and support. Now in many schools, entrepreneurship is the fastest growing major!
An undergraduate enrolled in a higher education program has numerous curricular and entrepreneurship resources and advantages vs. a competitor.
Universities play an important role in supporting student entrepreneurs through a range of initiatives designed to help them succeed.
- Many offer integrated courses or degree programs in entrepreneurship. Students graduate with the knowledge and skills they need to start and run their own business from the get-go.
- These programs are designed with startup and successful business ownership in mind.
- Young entrepreneurs are taught to think like an entrepreneur.
- In addition to the actual business skill set, they encourage the integration of creativity and innovation.
- Student entrepreneurs utilize resources such as formal mentoring programs, workshops, and business incubators. They are provided with practice in business administration and access to experts, financial advice, and networking opportunities.
- Students might also participate in various platforms designed to showcase their business ideas, and create monetary and networking resources with advisers connecting them to potential investors and even customers.
After graduation, students who started their businesses have the support of strong alumni programs as well.
You build your network both before and after graduation.
Student entrepreneurship has additional perks.
Early practice helps young entrepreneurs learn to embrace change, maintain positivity, and become lifelong learners. Pursuing their passion and exploring their entrepreneurial skills early in life will benefit them for their entire adult lives.
Where this gives student entrepreneurs an edge over entrepreneurs who start pursuing their own passion later on in life, it also provides them with a huge advantage over their peers who will experience and demonstrate the habits of successful businesspeople after graduation.
Though entrepreneurship comes with associated risk, students can shape their businesses around their academic schedule, allowing them to balance their studies and work. Being qualified to run a business or even earning a degree as a backup plan are all positives.
(We don’t want to go there, but let’s face it. Backup plans are good.)
Working as a student entrepreneur allows you to start at your own pace, work through trial and error, and build for a matter of years. Starting a business as a student can lead to earning a degree and entering the business world while managing an already thriving business.
Where students pursuing other careers will interview and begin building a foundation inside a secure corporate environment, student entrepreneur must pave their own way, so the head start is meaningful.
Very often post-graduation success is the result of a passionate journey that started years prior.
Though the entrepreneurship journey is paved with risk, the rewards are huge. Successful student entrepreneurs experience failures alongside numerous gains. It’s normal.
When you become a successful student entrepreneur you’ll realize success does not always equate to money. Though it’s important to beat out the competition, and we do require a level of financial success to survive and pay our bills, it’s not always about money.
Personal reward and the ability to contribute are typically very important to young entrepreneurs too.
Famous student entrepreneurs including Steve Jobs, Mark Zuckerberg and Matt Mullenweg started WordPress while attending college. There is no reason for you to squash your grand idea for a later. There are ways to start now, and you don’t have to quit school to do it. You got this!