How to Build a Startup While Studying Full-Time?
A Must Read for Aspiring Entrepreneurs
This blog is intended towards all youngsters who want to start their own businesses, and need some inspiration and guidance to achieve their dreams.
Ever since he assumed office, Prime Minister Shri Narendra Modi has been vocal about developing an ecosystem for creating more jobs in the country by generating self-employment opportunities. To fulfil this objective, the Government of India launched the Startup India campaign in 2016 for giving a big push to startup funding. Startup India campaign is expected to boost entrepreneurship and encourage startups for jobs creation. Similarly, the Startup India initiative is also aimed at promoting entrepreneurship among the youth of the country.
Today “India is home to over 6% of the world’s startups. And their valuation is estimated over $1 billion. However, in comparison to the amount of funding available outside our country, a very small portion of it is available in India. Well, the good thing is that the amount is growing as more and more venture capitalists and business tycoons are investing in the newly emerging and promising startups.
The student entrepreneurship movement in India is fast spreading across cities and academic institutions and is being considered with a new seriousness and focus. A lot of students after graduating from College are coming forward to launch their own business venture. But at the same time, they are unclear how to proceed and prepare themselves for building a commercial set-up. They are totally unaware of a host of technical, managerial and other requirements of running a company.
So, if you’re thinking to tread the off trodden path and considering becoming a student entrepreneur, here are a few tips to successfully bootstrap your business. Prima facie, it may look easy, but, as many student entrepreneurs will testify, it is going to be very challenging, especially while toggling between course loads and incubating a business idea and scaling it up.
What Steps Shall You Follow?
The following steps can be helpful for an aspiring student entrepreneur:
- First of all, assess your business knowledge, skills and goals
- Find the business idea that suits your aspirations
- Test the practicability of your business idea
- Create a detailed business plan
- Seek help from your business and management faculty mentors
- In order to focus fully on incubating your idea, make a proper schedule to manage your time effectively.
- Make the best use resources available at the College/University such as faculty guide, networking events, industry interactions, workshops, etc.
- Join online and offline startup platforms, competitions and awards
- Enquire and gather information about government grants and initiatives
- Discuss your idea with successful entrepreneurs, business persons, etc.
Learn Entrepreneurship and Leadership Expertise at IAR University
To make an informed decision you can take help from the entrepreneurship and leadership experts at IAR University. The educators at IAR have written a number of publications including international and national journals and books on topics such as entrepreneurship, leadership, commerce and management. They can guide you through the nuances of setting up a successful company for yourself in the future. This will help you evaluate the pros and cons of your decision so that you can make a successful career choice wisely.
If you are a 12th std. pass-out or graduation final year student or a fresh graduate, and aspire to begin your own startup then getting an MBA degree can be of great aid for your entrepreneurial dreams. An MBA degree from IAR-Institute of Advanced Research – The University For Innovation gives you the cutting edge knowledge, skills and exposure required for venturing into the world of business.
Admissions are currently open for the MBA program. For complete details visit, https://www.iar.ac.in/master-of-business-administration.