Archive | Entrepreneurship

Guest Post: Why Your Plans Are Useless

Guest Post: Why Your Plans Are Useless

planning

This is a Guest Post

“Hold on just a second! Goal setting and making plans is so important! Everybody knows that!”

You’re right, it is. It is absolutely essential to know where you’re going so that your daily efforts aren’t wasted on inconsequential activities.

But, plans and goals will get you absolutely nowhere by themselves. Nowhere.

Og Mandino said it best,

“Never has there been a map, however carefully executed to detail and scale, which carried its owner over even one inch of ground. Never has there been a parchment of law, however fair, which prevented one crime… Action, alone, is the tinder which ignites the map, the parchment, this scroll, my dreams, my plans, my goals, into a living force. Action is the food and drink which will nourish my success.”

Action is the food and drink which will nourish your success.

Say that out loud.

I get chills every time I read those words.

Powerful right? But, unfortunately, there’s always that voice of doubt that says. . .

“But I have to know what action to take before I take it. So, let me study, dust my desk, and organize my pens for the next year, while I learn what do to. Then I’ll act.”

This is a common excuse that comes from fear and it must be overcome before success even looks in your direction.

So, let’s destroy it, shall we?

First of all, the idea that you have to learn the entire picture of a particular subject before taking action is completely absurd because…

1. You won’t retain any of the information that you tried to learn in the process because your brain assimilates knowledge through its application, not just hearing or reading.

2. All knowledge is progressive, meaning that one principle builds on top of another. Therefore, one action builds on another and without carrying out the primary activities, understanding what to do at the end of the road is close to useless.

Don’t believe me? Here’s a test.

Do you remember what you learned in English class during your senior year of high school? Didn’t think so. That’s because you never had the chance or the structure to apply those concepts.

But, how easy is it for you to cook your favorite meal? How easy is it for you to tie your shoes? You can do it like clockwork.

That’s because you have applied that recipe or process repeatedly until it has been committed to your mental and physical memory.

So, in the process of learning, apply each chunk of knowledge that you learn as you learn it. This will not only help you retain that knowledge, but you will actually begin to make progress and build on the results of your actions almost immediately.

“But what if I make mistakes?”

If you’re asking yourself that question, here’s an encouraging fact.

Experience is the most valuable asset to the success of anybody in any field and the amount of experience a person has directly correlates to their success.

And experience is the direct result of action.

Not necessarily the “right” action, but action.

You see, if you take a wrong action action that doesn’t lead you closer to your goal, you’ll learn from the results (or lack thereof), and then adjust accordingly.

There is not one example in the history of mankind of somebody who was perfectly successful in his or her chosen endeavor right off the bat.

Making mistakes and adjustments is an essential part of progress in life and it precedes success. Not only that, you will continue to make mistakes and adjustments even when you’re at a place that you consider successful.

But, what happens when you take no action? You get no experience, no results, and no success.

Action is liberating

Have you ever had a project on your to-do-list that stayed there for months, even years? Then, one day, you just got it together and finished it. How did that feel?

I know that those instances of decisive action are some of the most freeing experiences I have ever had, even if the project itself was insignificant.

Imagine having those experiences on a daily basis!

There is a magic that comes from committing to action and carrying through.

Meet the parents of success

Didn’t know that success has parents? Well she does and you’re going to have to meet them before you’re introduced to her. No exceptions.

Think of it this way.

The father gives the seed of life that is then nourished and developed by the mother.

In the same way, a clear goal is the seed-giving father of your success, but it will never come to life without the nourishment and cultivation of the mother, action.

Please, don’t make success harder than it has to be.

Stop playing your mental fear games and take action today! Commit to one specific thing that you will move a certain area of your life forward!

Sound off!

What do you think? Share your valuable thoughts with us in the comments.

Best of life,

Abhay Khurana

This is supposed to be the place where I plug myself and my website. But, honestly, I just hope that you’ve gotten some value out of what I’ve written for you. If you have and want to connect with me and read more like this, head over to my blog at www.betteryoungentrepreneur.com

Posted in Entrepreneurship, Key TopicsComments

Virgin and Enterprise Uk creates Platform for young entrepreneurs – Virgin Media Pioneers

Virgin and Enterprise Uk creates Platform for young entrepreneurs – Virgin Media Pioneers

virginmediapioneers

Virgin Media and Enterprise UK have partnered to support young entrepreneurs across the UK. As part of a national campaign to unlock the UK’s enterprise potential, the partnership will see the launch of a new digital media initiative, designed to meet the needs of young people as they start their own businesses and social enterprises.

It’s an online space where you can get help to develop your idea, pick up new skills and create your own network.

This creative new community will help connect young entrepreneurs with business experts.

Virgin Media Pioneers will enable young entrepreneurs to share experiences and connect with other entrepreneurial people by posting video blogs, questions, comments and updates. Other community members can then add their feedback, through videos and text, and help turn young people into confident entrepreneurs.

Check it out and let me know your thoughts on it, do you think it’s going to work?

Virgin media pioneers

Posted in EntrepreneurshipComments

Interview with Online Jewellery Boutique, Matris Estus’s Founder – Charlene Chizell

Interview with Online Jewellery Boutique, Matris Estus’s Founder – Charlene Chizell

Charlene-Chizell Ankumah, Currently a Student at the University of Buckingham. But what she does when she is not in university, is what is bringing all the Headlines. A former employee of Stansted Airport, Financial LTD, Charlene is now the founder of an online jewellery Boutique, Matris Estus. Ok enough of the Sweet talks;

QUOTE

Char, how you doing? Thanks for been with us on YHP

Thanks, for asking me to come down for YHP

Can you give us some briefly background information about yourself?

I’m only 21, my mum is from Ghana, i was raised by a single parent, and I’ve always lived in Essex, “that’s it really”, i go to uni, i work very hard, “that’s like the personal sell yourself kind of thing”, you know, that’s it!

The name of your business, how did that come about?

Matris Estus is basically Latin, because I’ve been raised in a catholic church and the catholic language is Latin so i wanted to have something because I’m a really spiritual person so i wanted something that was related to my religious spirituality and at the same time sort of represented my business, So Matris Estus basically means “mother’s core” and obviously you know real metal, solid jewels and things like that comes from the earth so i kind of took that idea and my love of the Latin language and came up with Matris Estus and that’s incorporated with the logo because the logo is actually of a elephant and they say the elephant is kind of like a maternal animal so that why i decided to have something that was associated with an elephant, not like a big diamond or something like that, so it’s all to do with my love for Latin, you know what my brand represents and what it will always represent.

So what role do you actually perform in the business?

I’m actually a relaxed laid back, calm person, you know I’m just cool about things, i don’t like to be referred to as the creative director or CEO or things like that, i just prefer the go-to girl.

Ok, I guess i will start calling the go-to girl now (Laughter)

So how did you raise funds to start your business?

I built my own pilot website from scratch, at the time, i did not have the money to get a professional website done, as i knew i wanted to build an online jewellery boutique, i built the website to basically get the word out there, how people felt about it and the response i got was really really overwhelming, it was from the sales i got from that i was able to fund the brand new website/online jewellery boutique that we have at the moment.

You dint mention how you got the money to buy the first supply/products?

That actually came from savings that i had.

You went on work experience for a year, how did that influence/inspire you to start your own business?

I hated waking up early in the morning, being swashed on the jubilee line, Victoria line, i hated the responsibility because i was almost 19 and was no longer seen as the little kid or a student but an employee.
My placement was a huge learning opportunity for me, with what i learnt there, and i was like you know the guy/woman that sits in the big office, i actually want to be that person.

It was through my year of working that i realised that i wanted to work for myself, i thank God that i made the decision to go on placement.

Would you advice students to take a year out for work/placement?

I definitely would recommend it, you not only learn more about your field but a lot more about life and how things work, especially discipline and how businesses make their money .

Coming back to M.E, which is what I’m going to call it? Who are your target markets?

My target market is anybody that loves jewellery, i think jewellery is universal, can be worn by men, women, children, it can be accessorised in so many different ways, you see dogs wearing like dog collars blinged out, we carter for everybody that likes unique, affordable one-off piece jewellery.

So what makes it unique because it sounds so general, what makes me as a customer feel special or exclusive buying from Matris Estus?

It is always, always to supply the best quality, unique one – off pieces at affordable prices to our customer, so as our customer not only do you get jewellery for a great price but we also make sure it is of the highest quality.

What ways are you looking to market your products?

Basically reaching out to Sugar magazine and looking to reach other male magazines as well because we do sell men jewellery pieces on the boutique website and by wearing my jewelleries, Word of mouth as friends and family are always wearing the jewelleries.

How have you managed to balance your time with university work and business?

I don’t know, i really do not know, But i sometimes find it hard because i have so much love and passion for my business and sometimes get tempted using university time for business but really it is hard, i don’t even have the right term to use, lets me put it this way, it is hard to work hard.

On that Note, what do you think it takes to become a successful entrepreneur?

I know this is such a boring, repeated, cliché answer, everyone says it, but as someone up and coming i understand where people say it, you need to be dedicated, determined and work hard, i know that’s such a boring answer and i wish i had something hot and fresh to say but that’s the ingredients, you want to make that recipe, that’s the ingredients.

Apart from your company, Is there any other company out there that you admire the most?

That’s a really good question, I would say probably the Rocawear Brand, I like that brand, i really admire them, i think it was established in 1999 and for it to be where it is now, that’s really really cool, I’m not going to go into details of what they’ve done, a company like that is what i like, obviously i prayed for success and i don’t want overnight success.

Do you have any books or audios you read that you would like to suggest to our readers?

The most inspiring is the Bible, it really his, everything you want to know, and everything you need to know is in there. If you’re a Muslim, take the Quran, those spiritual books really help.

What’s the best advice that you’ve been given so far?

The best was to be patient because I’m such an eager person, I’m always like click click bang bang, everything to be done quick quick.

Where do you see yourself in the next 5-10 years?

In the next 5-10 years, i would have graduated, i would be a chartered marketer, bought myself a house, MATRIS ESTUS will be a recognised jewellery store, and I would have a food chain, those five things I’m cool with them.

Do you have any tips for upcoming entrepreneurs as yourself?

To definitely have some form of spirituality in yourself because it goes a long way and don’t let little things get to you to fall back, i know its easier said than done but if you have something in your head, tell someone, someone you trust of course to help you tweak it and make it better.

I hope to see a lot more female entrepreneurs because its so typical to see a lot of guys doing their thing, so would love to see a lot of ladies coming out with their stuff.

Finally before we finish what should we be expecting from you and M.E in the nearest future?

You should be expecting a watch; we’re going to be branching out into watches, water resistant watches, right now we specialise in rings, necklaces, bracelets and earrings.

m.e jeweller case

SO yeah, brand exposure and recognition internationally and expansion

Thank you char for your time.

Thanks for having me

Check out their new website: http://www.MatrisEstus.com
Follow them on Twitter: http://www.Twitter.com/MatrisEstus

Posted in Fashion, Featured stories, InterviewsComments

Erin Blaskie – Founder of BSTEC(Virtual Assistant Firm)

Erin Blaskie – Founder of BSTEC(Virtual Assistant Firm)

Hi Guys, I’m here with Another interview, Today My guest is Erin Blaskie, A young Entrepreneur that started her company at the age of 21, I wanted to ask her how she started her company, what inspired her, her involvement in blogging and social media, and also tips on why and how we should all be collaborating online.

Enjoy the interview.

Erin Blaskie

Hey Erin, how you doing? Thanks for sharing some of your time with me on YHP

Can you give us some background information about yourself?

I started my first company in August of 2004. I started this company after I had finished college and was working as an instructor at a private college. While I loved the daily interaction, I had this entrepreneurial spirit and passion inside of me that I couldn’t ignore. The company grew quickly and I was able to quit my job and leap into self-employment full-time.

So how did you get in blogging and social media?

I am an experimenter at heart. Experimenting with new tools, new ideas and geeky gadgets is my life. Blogging has been something I’ve been doing since before the popular platforms came into existence like WordPress and TypePad. I was doing blogging on the first series of journal style websites that hit the market.

As for social media, I registered with Facebook and Twitter when they were both in beta and have been using them ever since. For me, it was never a conscious decision of, “I have to do this for my business” but more a question of, “What is this neat and interesting tool?”

What do you like the most about the internet, blogging and social media?

It’s openness. It shares who we are with the world and creates a new sense of transparency and authenticity. I love also that it’s an open format. You can use these mediums however you wish and really, there are no “wrong” methods of using the tools.

I also love that these mediums promote creativity and expression. Never before did we have such an instantaneous medium for our messages and such open communication. I can post a blog post now and be engaged in a conversation through comments in minutes.

Tell us about BSTEC Your outsourcing company? What do you guys do?

BSETC was started as a virtual assistance firm which provided administrative and Internet marketing support to entrepreneurs. Now, we are a creative, professional outsourcing firm that supports entrepreneurs around the world in the building, growing and management of their online businesses. We do everything from graphic design to web design to administrative support to social media support to in-depth strategy and consultation.

What inspired you to start BSTEC?

I actually had the idea when I was 16 years old. I didn’t want the “regular” summer job so instead, I had this idea that I would pass out flyers to local businesses in which I would offer to do small administrative jobs. Organize offices, type up documents, etc. Unfortunately, it didn’t pan out at that time – I was offered a job in an ice cream factory instead and that was much more appealing to my 16-year old self ;)

Fast forward to 21 and the idea popped back into my head but this time it included a website and a global audience as opposed to flyers and my local business sector.

What does your company do different from other companies in the Virtual assistant industry?

I wrote an e-book called, “From Puppet to Puppeteer” which talks about the difference between a firm like ours and other virtual assistance companies. The e-book mostly focuses on engagement. We provide our clients with services that engage and inspire them to create amazing projects and we take the guesswork out of the process. Where other firms may only provide services on an as requested basis, we’re thinking for our clients to guide them through the process of running an online business.

I am currently writing a post on online collaboration and wanted to get your thoughts? Why do you think it is essential in today’s world? What value does it add to one’s work?

I totally agree in the collective as opposed to the individual. There is something much more powerful about collaboration and crowd-sourcing things in today’s marketplace. The power of course lies in the uniqueness in each person’s thought and in their ability to see the project different from his/her colleagues.

We use Basecamp as our method of communicating out as a group to our clients. We brainstorm, banter and create through this medium so we can create best practices and provide the best opportunities for our clients.

What do you think anyone interested in collaborating online should do or start doing?

Get out there and provide value to others. It’s only through providing value that others will see your value and invite you to participate with them. Companies now call on me to provide feedback and get really, really involved in their work because they know that when I love something I’ll get invested and engaged. Engaged collaboration creates a really powerful force.

What are the most crucial things you have done to grow your business?

I’ve become involved in the processes. Too many entrepreneurs are building and starting new things all of the time without ever honing in and fine tuning what they have. I concentrate as much of my effort on fine tuning what I do now as I do on the new projects. That begins to create a business that you work on instead of a business you work in.

How do you promote/advertise your work, especially for someone trying to start their business and looking to get some presence online, what advices can you give them?

Just get out there in every way you can. Think about all of the different mediums available to us – audio, video, blog, social media, traditional media, joint ventures, etc. and make sure you’re taking advantage of it all.

I like to think of a new business as being stranded in the middle of a corn field that is filled with really, really tall husks of corn. Every time you create a new avenue (ie: setup a blog, setup an account on Twitter, etc.) you are creating a road of visibility to your business. The more you do that, the more opportunities you have to be seen and noticed and therefore hired.

As an entrepreneur, what qualities do you think aspiring entrepreneurs should have to be successful?

Be fearless. Ditch the perfectionism. Be original.

What is your favourite online tool?

I have many! I can’t live without Gmail, Basecamp, Freshbooks and right now, Threadsy.

If the internet never existed, what would you be doing?

I’d probably be living a life devoted to learning and yoga.

What is the most valuable skill you’ve learnt so far as an entrepreneur?

Authenticity.

Thanks for your time Erin

If you enjoyed the interview, Stop over at her site to say her or follow her on twitter.

Posted in Featured stories, Interviews, TechnologyComments

Guest Post: Unleashing your hidden potential

Guest Post: Unleashing your hidden potential

Please Note: This is a Guest post from Srinivas Rao of The Skool of Life and Blogcastfm

SRINIVAS RAO

I think every one of us has hidden potential. The problem however is that we live in a world where social programming, expectations and conformity have driven the behaviour of people in the society. We get rewarded for conformity and punished for going against the grain. Unfortunately we condition people over and over again with small rewards for fitting in and not challenging the status quo. These small rewards reinforce this behavior. It starts at an early age when you hear things like “Don’t color outside the lines, don’t talk to strangers” and whole list of “rules” that serve no purpose in adult life. Ultimately, they keep you from unleashing your hidden potential. It’s time to shatter all of that for a new way of thinking. The Skool of Life is such a different place than the schools we’ve attended and learned from.

Be willing to fail more: Failure has such a bad connotation in our society. When you get an F on a report card, that is the lowest score you can possibly get. You get punished for failing. As a result from a very early age we’re taught not to fail. As a result we take less risks, we play it safe and we don’t have any small failures. We just have one giant one, LIFE. Would you rather have thousands of small failures and one giant success that trumps all of the failures or would you rather never fail and live up to only a small portion of your potential?

Don’t listen to the naysayers: Naysayers always tend to emerge when you want to challenge the status quo. The reality is that they are afraid. They are afraid of seeing you reach your full potential because it forces them to deal with the fact they are not reaching theirs. If they can get you to stay where you are at, then they don’t have to deal with the fact they are wasting their own potential.

Trust your Instincts: Instincts are interesting. Im sure I’m not the first person telling you to trust your instincts. But the real question is how often do you do it? When you have an intuition or a feeling, what do you do about it? For two weeks I was hesitant to write this post because I had no idea what the hell it was going to be about. Then it finally came to me. When you have an intuition or feeling do you just let it go as another passing thought? If you do then read on.

Take Action: Good instincts are great. But they’re useless if you don’t do anything with them. If your instincts tell you to start a company, then do it. For the first time in history you can lay the groundwork for almost anything with virtually zero capital investment. It’s important be action oriented.

Choose to be extraordinary: I’ve said it before and I’ll say it again. “Ordinary lives are for ordinary people, extraordinary lives for those who are extraordinary. My life was never meant to be ordinary.” How you define that is really up to you. But, I don’t believe we were meant to live ordinary lives. We were meant to live life to its fullest.


Be Patient:
Of all the advice I’ve offered you in this post, this is the one you will fail with over and over again. Unleashing your full potential takes time. Years or bad conditioning have to be erased and while you can begin the path to success over night, you won’t reach your goal overnight. Ironically, the more patient you are the faster you’ll able to unleash your hidden potential.

How do you plan to unleash your hidden potential?

Srinivas Rao is a personal development blogger, avid surfer and author at The Skool of Life. He is also the host and co-founder of BlogcastFM, a podcast for bloggers.

Posted in Entrepreneurship, Key TopicsComments

YHP COLLABORATES WITH BUSINESS DYNAMICS SHOW ON SKY

YHP COLLABORATES WITH BUSINESS DYNAMICS SHOW ON SKY

business dynamics show

With the Huge Influx of start-ups contacting us at YHP and the wealth of young entrepreneurs featured on the website, we have decided to partner with a bigger platform to showcase the amazing talents emerging.

To this end, YHP is collaborating with a new Business show coming on the SKY network- “Business Dynamics” Produced by Strides Media Production!

“Strides Media Production” to host a new Television show on “Sky” named “The Business dynamics show”,

The show is dedicated towards profiling the top Entrepreneurs and Business Owners around the world. It features three core segments:

“Power Players”:

Designed to feature the “Top Business Executives and Experts in their field to give insight, share their experience; journey and tips on succeeding in business

“SME Business Features”:

This is a special platform for Small and Medium sized companies to engage directly with the audience on new and existing project & service offering.

“Dream Releasers”:

This is a special feature designed to bring to you the most exciting and most innovative young entrepreneurs who have successfully launched their businesses in divers industries

A larger platform means a wider audience, we are committed to maintaining the depth, intimacy and quality of our interviews and features. Contact us to find out more about appearing on the show.

Posted in Key TopicsComments

Quote of the Day – Happiness

Quote of the Day – Happiness

Happiness

“It’s so easy to get caught up wanting to save the world, run a successful business, be in great shape, have immense wealth… success, no wonder we runs ourselves ragged.

When all is said and done, what we really want is to be happy, feel loved… for life to flow; and when that’s your aim is life everything else falls in to place; well, that’s what I’ve found.”

© Cheryl Hopkins, 15th Feb 2010 Change it live it http://www.bit.ly/blosG0

Posted in Featured stories, Quote of the DayComments

Choosing the right Co-founder for your business

Choosing the right Co-founder for your business

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This can be very tricky because getting someone that believes in your company, ability and your vision can be very hard, especially getting someone that is passionate enough to be a part of your company, but i urge you to try and get a co-founder on board.

It can really depend on the nature of the business also, sometimes you might have everything covered and not need a co-founder, but bringing a co-founder can be hugely instrumental, especially someone that has skills needed in your company that you lack.

Emotional Attachment

At the start of the company, i was very hesitate to let anyone near my business, as it was my first baby, i grew some kind of emotional attachment, i had offers from different friends that wanted to be a part of it, i really dint care as i knew the type of person i wanted on board, i needed someone that had as much passion or maybe more than me in the business.

Decision Making

You must have a co-founder that you can easily reach, incase you need to make a quick decision, someone that you have complete trust in making the right decisions if you’re not around, someone that will make the right decision.

google

Trust

If you do not have complete trust in your co-founder then there is really no point in doing business with them, although most times you will build on your trust issues with your co-founder as time goes on, the more you work together and learn about each other.
In Almost 2 years of working with my co-founder, we continue to grow in trust and having trust in business simply brings rest to your mindset.

Costs/contact

Sharing cost on the company expenses can be huge for the growth and progress of your business.
You get to share each other’s contact in growing your business, contacts and networks that you might not have known or had a chance to meet are suddenly in front of you.

Understanding

You need to understand how you both work, how the person likes to work, the personality of your co-founder, if you do not understand your co-founder, you will end up wasting valuable time on un-necessary things such as arguing, doing the same work twice which will eventually takes its toll on the business, so go out of your way to understand your co-founder, try to get them, if you’re not compactable, then you have a decision on your hand.

Time & Focus

That means you get to spend less time doing something you’re not so good with and focus on your strong points and how to improve on it, you get to do more together in less times.
For me personally, getting a co-founder has been huge to my business, we’ve been through some rough and good times together already, i really just let him do his stuff which he kicks ass in, he manages the event planning side of the company, booking of holidays, enquires, while i focus on getting more properties on the website, building relationships with companies.
Although we both come together to make decisions and run other parts of the business.

An Almost Mistake

Because of my openness with my friends, i remember sitting them all down to tell them about the business, telling them i would love them to come board to help with the business, which would have been a bad idea, so I’m glad they all dint respond in the appropriate way, i hate laziness, lack of drive and passion.
But as soon as my co-founder told me his interest and i saw his commitment, i felt at ease, it made me realise that although this company is my baby, it was not about me anymore, but about the team, the vision and everyone that constantly help to build and take steps towards that vision.

Respect

You should both respect the opinions, views and personality of one another, although i respect my co-founder but that doesn’t mean i keep quiet when things are going wrong, or when we both miss the plot, I occasionally give him a piece of my mind when i need to and so does he.
Basically don’t miss-understand respect for being soft

Final Words

Sometimes business kills friendship, sometimes it makes it stronger, pick the right choice.

If you want more information on this, Neil Patel does a good job on explaining about it further, also @Techcrunch @Venturehacks @ spencerfry

Posted in Entrepreneurship, Key TopicsComments

Why you should start a business in the university

Why you should start a business in the university

startup in university

I and a friend were having a chat on how we wished we started something together in our first year at university, I mean we were all creative, ambitious and had a lot of time on our hands.

We realised how much our business would have grown by now, the traction, the support it would have gotten, instead we spent our time partying away although i admit it was fun, going to bed at 7am and getting up at 5pm were the best days/highlights of my 1st year in the university.

Only if we knew how to balance our time things might have been different, we had enough people in my halls to start at least 10 good businesses, everyone had ideas, everyone wanted to be successful, but we lacked focus and drive and i guess we dint really have anyone who gave us that exposure into the world of entrepreneurship, perhaps we didn’t have the right attitude.

Experience and failure (Start Small)

As someone that started a company in the university, i believe it is always better to start small because it gives you the time to worry less about money but more about the products and services you’re offering, ways to improve and make sure it is going in the right direction.

I started my first company and spent a lot of money constructing the website, not that the website was not worth the money, but with what i know now, i am sure i could have invested that money into something else, probably would have built up the website with cash left to invest in other parts of the business instead of focusing on how fancy i wanted the site to look.

Time

You have 3-5 years to spend in the university, that’s enough time to build your start-up into something credible, by the time you’re ready to graduate, and you will only be worrying on how to grow the business, that’s if you worry at all.

You probably spend most of your time getting drunk, facebook, twitter, YouTube, clubbing, so taking some time to build your business is not that bad.

Your Network is your net worth

I met my co-founder at university and was able to do less, which was more productive and gave me time to focus on other things in the business.

You might end up meeting an investor or a co-founder, or someone that might have the right connection that will take your business to the next level.

If you decide not to continue with your business. You will already have a bunch of contacts that either helps you in a new start-up or perhaps you’re looking for a secured job, you just never know.

Don’t forget that any business you’re going into you’ll be going there with some practical experiences of running and managing a company.

Competition/Awards/support

You can get so much support from your university , if you’re business is cool, I’m sure your university will want to brag about your success, you also have the entrepreneurial society, NACUE, FlyingStartonline, Shell livewire, Enterprise UK, Which will give you some exposures to your company, assistances, workshops and training to sharpen your skills as an entrepreneur, they also give you the opportunity to network with other entrepreneur, you never know what investor might be reading your story.

Student Loans

In total, you probably get £4,950 (Maintenance loan) + £2,906 (Maintenance grant) + Bursary (900)

1st Year – £8756
2nd year – £17512
3rd year – £26268

That is enough money to start up a business or finish up a prototype.

I would encourage you to maybe get a part-time job, and if you have a co-founder or even two co-founders, that is a lot of money and enough money to get something off the ground.

Responsibility

You have fewer responsibilities, less concerns to worry about, which gives you time to build your business.
You have nothing to lose.

Experience

Owning and running your own business is an incredible way to gain experience, it will definitely help you mature, especially as you begin to read business books and self development books to help in growing as a person and an entrepreneur.

You get to learn more about yourself, especially life and business lessons that are not taught in the classroom, you might even get more clarity on modules to choose in the next year or in your final year.
You learn how to speak, dress and act in a professional way.

The University Platform

This is your first initial market where you can experiment, get feedback, get some user experience for your products/services; it gives you such a large network to people to showcase your business to, which is invaluable. You might be able to define your target market through this experiment.

You get free advices from your university professors and tips.

You will have access to different types of people with different skills, you want your logo design- go to the design department, you want a website development – go to the computing department, thinking of getting someone that can help with admin stuff – go to the business department, you get what I’m getting at, loads of resources at your finger tips.

Tip: Everyone loves the story of a kid that started a business in the university.

Posted in Entrepreneurship, Key TopicsComments

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“Most folks are about as happy as they make up their minds to be.” – Abraham Lincoln

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