One Man Orchestra: How to Balance Studying & Entrepreneurship

Editor's Note: Take a look at our featured best practice, Five Stages of Business Growth (25-slide PowerPoint presentation). This presentation introduces a framework for entrepreneurs to use when building and navigating their business from a nascent, startup state to an enterprise with a global footprint. This framework, called the 5 Stages of Business Growth, is based on the fact that all businesses experience common [read more]

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Some say that students are the best entrepreneurs. They have enough drive to make their dreams come true, the support of their friends, and an idealistic worldview. Many successful startups were created out of college dorms or basements. Many think about the foundation of Facebook as the perfect example of combining studying and entrepreneurship. 

It’s worth saying right away: combining work with getting your diploma is very tough. It’s ten times more demanding when you actually start your own business. There will be millions of things to think about on top of your schoolwork. Still, when you think about the opportunities that you have as a young, determined student, everything seems possible!

In general, campuses are a great place. They promote collaboration, creativity, and business insight. You can also get together with your classmates and do your homework! Of course, there is also a great option of hiring some outside help from WritePaper when you are feeling overwhelmed. This is great advice for those who want to have it all in business and in school!

So, are you thinking about starting your own company and getting a diploma at the same time? Here is everything you need to know about balancing studying and entrepreneurship!

Set Your Priorities Straight

You don’t have to choose what is more important to you right away. Still, when students decide to become entrepreneurs, they need to work out some strategies for the future. When they are aware of their priorities, they can achieve balance! So, here are some tips about getting a clear vision of your startup:

• Everything you do takes up time, money, and effort.
• Create a business plan with monthly or even weekly goals.
• Decide if you need to get that diploma right now.
• Is it really a good time to start a business? Maybe with more experience, you can achieve success in the future.

Choose the Classes That Can Help You with Your Business

This is applicable to students who definitely know what they want in the future. Some of the courses might help you significantly in running your business! Also, this way, you will have access to all course materials and expertise. Of course, some students prefer choosing a completely opposite direction, for example, studying design and opening an IT start-up.

If you’ve already signed up for some classes and can’t change them anymore, don’t worry! There is always a ton of useful information that can be used in any situation later. It’s always a good idea to accumulate different sets of skills and use them to your advantage! Here are some of the skills that will always come in handy no matter what your actual profession is:

1. Attention to detail.
2. Punctuality.
3. Leadership and teamwork.
4. Organizational skills.
5. Self-management and self-reliance.
6. Positive attitude.
7. Resilience and the ability to learn from your mistakes.

Use Some of the College Resources

Don’t abuse this tip too much! This doesn’t mean that you can use a computer lab to build your website or an engineering lab to maintain your supply. Maybe, you can use some of the available extracurricular courses to your advantage. Some professors are always looking to become a mentor to talented young entrepreneurs! Libraries and labs can also come in handy.

At the same time, colleges and universities all over the world have deep connections with leading companies. This is especially true for the tech industry, where students are often vetted and hired even before they get their degree! Look for some entrepreneurial competitions that are hosted by your college. You might even find an investor for your business idea!

Create an Effective Schedule for Your Studies

So, you have your priorities straight, and now it’s time to develop a working schedule. Learners need to set aside some time for studying if they want to finish their degree! It’s always a good idea to create a curriculum with a clear schedule, among other useful habits that you can pick up at college. 

This strategy is extremely effective when you have lots of homework, labs, and other assignments. Here is how you can do it:

• Set aside a couple of hours every day just for homework.
• Schedule one day per week that is dedicated entirely to business.
• Have online or offline sessions with your team that will keep you up to date with all business operations.
• Be open to sharing your schoolwork! Lots of students divide their projects with classmates, so they don’t take up too much time or effort.

Business and Learning Are Not Mutually Exclusive!

Basically, this is the whole point of getting your diploma and starting a business. Some experts say that it’s never a good time for a startup. So why not try it when you have enough drive, determination, and inspiration? There are also classmates and friends that can help you achieve your dreams. Some professors, for example, can even introduce you to very useful people!

Make Short-term and Long-term Goals

Same as having a schedule, creating a roadmap for your vision is extremely important! Long-term goals can help you see the big picture, create different departments, and prioritize your spending. At the same time, short-term goals are connected to daily operations. It will be much easier to tick off smaller objectives while keeping in mind the ultimate goal!

There are some useful tools that can help you organize better. For example, having a mobile app or a desktop application that can track your progress is extremely helpful both for studies and for business. Also, expert writers from the best writing platforms can assist you in any homework assignments or content creation objectives!

Read about Other Success Stories to Find Your Inspiration

Find your Zuckerberg or Steve Jobs! It’s understandable that young entrepreneurs want to be pioneers in their field. Still, there is a chance that you have a person that inspired you to follow your dreams! Maybe you can find some similarities between your stories. After all, every successful businessman has to start from somewhere!

Make the Best out of Your Student Access

There are many opportunities for those who have their learning credentials. For example, some online platforms grant access to their materials for free if you can prove that you are currently getting your education. There are also some foreign programs available in case you are looking to expand your business. Free Wi-Fi across campus is a nice bonus as well!

Don’t Forget about Networking!

Use your time in college to the max! You can never know what your brief acquaintances can lead to in the future. Perhaps, a guy you met at a random student party will become your IT genius. Or a speaker at a conference will be extremely interested in investing in your startup. When you are open to new experiences, you won’t miss out on great opportunities!

Takeaway

Are you inspired to follow your dreams and start a business now? Well, you better be, because there is no time like the present! Finding a balance between working and studying might be easier than you think. Sure, you might not have lots of experience in college. Still, it’s an amazing opportunity, and you can always learn from your mistakes!

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