What’s the common denominator between the most influential tech companies of Silicon Valley? These companies, including WordPress, Facebook, and Google, were born inside a university dorm.
Undoubtedly, college campuses breed creativity, invention, innovation, and fantasies of the impossible like no other place. The above examples prove that unique ideas can often surpass physical limitations (of dorms) and change the world in unprecedented ways.
Many undergraduate students wish to start their businesses while still in school. However, their academic pursuits thwart their entrepreneurial aspirations. The lack of resources, seed money, and time are some of the most common issues an entrepreneur faces. Still, there are several ways one can strike a balance between their business and education.
But even after you find that balance, it can get difficult to juggle your education and your startup. Often, students abandon their revolutionary business ideas because the fear of failure in both academia and work holds them back.
With that said, here are some smart ideas to create and manage that balance effectively:
1. Create Daily Agendas
Set clear goals and agendas every day and then try to stick to them as closely as possible. You get to decide whether you’re better off cramming a 3000-word essay in the night before submission or working in short productivity bursts throughout the day. Try making brief lists to remain organized and dedicated. Plus, nothing beats that sweet satisfaction of ticking a task off of your list.
2. Plan Your Courses Strategically
It’s not uncommon for college students to register for the maximum number of courses in a semester. But, even if you were in the same boat before, you should commit to your business now. Juggling a truckload of coursework alongside your business can get exhausting. Therefore, you should know your capacity when picking courses. It can help you immensely if you choose classes that can complement your business venture.
Sometimes, physical education and commute can be a hindrance for small business owners/students. Luckily, accredited educational institutes now offer virtual education and online classes for major college degrees. Budding entrepreneurs can even earn an online masters in business while running their dream startup. In the digital age, possibilities are endless!
3. Remember Your Priorities
What do you hope to achieve in the next five years? What are you doing to achieve it? For instance, to accomplish a long-term goal, you may set short-term goals and milestones. Ask yourself why you started this business during your degree instead of after. What makes you forego the benefit of leisure and remain in school? Note down your answers to these questions because they’ll come in handy when you have to make sacrifices down the line. So, when push comes to shove, you can remember that your business or education is worth it.
4. Consider Your Business And Education As One Entity
Being an entrepreneur/student gives you an edge over your competitors. You get to continue learning the dos and don’ts of running a business while building your startup. You should consider courses, certifications, and even entire degrees that can help kick your startup off the ground.
It’s okay if you don’t master everything you attempt. What matters is that it’s always worth having a basic knowledge of topics that assist in your business’s future management. For example, you’re studying business administration. You can always supplement your degree with subjects such as marketing management, corporate finance, or communication studies for an enhanced learning experience.
5. Tackle The Most Important Tasks First
Identify the most important tasks and focus on them first as if nothing else matters. As the day progresses, you might get sidelined by other distractions. So, it’s better to get these done at your earliest. University coursework tends to follow the demands of a particular course and its teacher. You can be drowning in lab exams and assessments one week and experiencing a total dry spell in the next. Thus, you must have a definite schedule. Try your best to manage your academic and business obligations, so they don’t come crashing down altogether at a critical time.
6. Give Yourself Breaks
When you feel like you need a breather or want to refresh, avoid replacing school work with a business project. It’s a vicious circle. If you want to avoid burnout, you need to incorporate some time into your day to relax and recharge.
At times, young entrepreneurs start thinking that time is working against them and so they don’t spare any time for themselves. Yet, me-time could be crucial in keeping you afloat academically and in your work. Remember to take care of yourself. You can start with little things such as going to the gym and meeting your friends. Or have a Kit Kat!
7. Take Advantage of Your Student Privileges
One of the main perks of being a student entrepreneur is having an abundant supply of useful resources. These may come in the form of discounted software deals, student support networks, mentorship programs, and online libraries. Most campuses also offer their students decent internet along with conference rooms for discussions. Don’t be afraid to squeeze benefits out of every cent you’ve spent on your college education. It’s best to capitalize on these extraordinary privileges now and thank yourself later.
Moreover, don’t draw the line between your schoolwork and business. Instead, try to connect the dots between these two things and then use that connection to your advantage. In most cases, business school professors are likely to assign you tons of feasibility studies, analytical studies, case studies, among other things. Apply the concepts in your coursework to your business. By doing this, you can stay on top of your schoolwork while still growing your business. It’s a win-win situation!
8. Look After Your Health
You know you’re in the long haul when it comes to your business. So, it would help if you didn’t concentrate on short-term goals in a way that leads to long-term detriments. Try not to neglect exercise, sleep, eating, or your loved ones in the process of “making it.” These aspects of your life promote productivity, efficiency, and above all, good health.
Additionally, you may find yourself confined to your computer chair for hours at a time, e.g., drafting proposals for clients at dawn to researching term projects at dusk. Therefore, you should give your eyes some rest from your screens before bed. No matter how important the text or email, it can wait till morning.
In Conclusion
As we have seen, you don’t necessarily have to choose between your entrepreneurial dreams or your education. With better management, you can easily explore both opportunities simultaneously. This article went over some creative ways to manage life as a student entrepreneur. These involve setting daily goals, utilizing student resources, taking breaks, and finding the link in your business and education. The only condition here is to be willing to put in the time and remain intensely focused. Do you have it in yourself?
