Entrepreneurs and students in many ways are quite similar. This might seem ironic when you look back and see that top entrepreneurs like Steve Jobs, Bill Gates and Mark Zuckerberg are college dropouts. They started out early, which was supposed to be the beginning.
Entrepreneurs, like students are compelled to learn about subjects that are outside their comfort zone. There’s a sense of developing an overall learning of the business or curriculum that enables progression.
The financial discipline that an entrepreneur follows rigorously reminds you of your days as a student. The times when you struggled to balance your finances are brought back, when you turn entrepreneur.
Fcaing social stigma
As a student, people are always sniffing for opportunities to put you down. Your peers and their parents are desperate to show that you aren’t capable enough to clear exams. You don’t have what it takes to compete. So it’s only your effort and mentality that produces results to prove them wrong.
Even as an entrepreneur, you’re always going to meet people who will oppose your decision making calls. Your family, friends, people at your workplace might vehemently object to you taking the less trodden path of entrepreneurship.
But by picking themselves up and relentlessly working towards their objectives, entrepreneurs show warrior-like qualities much like students.
Let’s delve into the various stages in an entrepreneur and student’s journey that help them find the right formula to succeed.
A student doesn’t know where his best capabilities lie. They are more or less still figuring out what they want to do throughout college.
Startup founders are themselves trying out a bunch of things and sit patiently to see how their offering affects the market.
The process of exploring involves a lot of research, study and trying out new things. Both students and entrepreneurs are exploring the best possible ways to shape their careers.
Preparing for an examination can be placed on the same plank as preparing to start a business.
In both cases, the onus is on you to go back to the drawing board, think of a plan of action and start from scratch.
A detailed plan on how you are going to balance your time allotted to various subjects as a student is of utmost importance.
As an entrepreneur, you have to balance not just time but also the limited resources that you have in hand.
Efficiently using your time and resources is critical to learn and progress for both students and entrepreneurs. The result of how well you balance your time and resources is a direct measure of whether or not you will eventually need to compromise with lack of sleep, stress or health related issues.
Failures are a part and parcel of the journey of every entrepreneur. The probability of an entrepreneur tasting success with his venture in the initial formation phase is next to nil.
Unless their offering is path-breaking in terms of utility or is a product of great innovation, chances are that it will not do as well.
Students get their first experience of not getting a desired achievement. But this is what helps them emerge stronger in life.
Likewise, an entrepreneur is better prepared to face adversity.
Moving on from a failure is progress in itself. Entrepreneurs and students are prime examples. Once a failure has struck you hard enough, you would naturally divert your energy on improving that aspect.
Students identify their weaknesses, entrepreneurs realise the missing element in the business.
Conscious efforts are taken at getting better. Both students and entrepreneurs look at progressing towards the next challenge, one step at a time.
Achieving success after experiencing the lows helps keep you grounded.
Complacency tends to creep in when an entrepreneur begins to feel proud of their achievements. The relentless chase towards getting good scores or making bigger revenue is a result of you wanting to be better than before.
Achieving good scores in board exams or making a big breakthrough in sales is important, if not the only success metric.
You are the most competitive you will ever be as a student or an entrepreneur.
Unless your profession is that of a sportsperson. As a student, you battle with peers for a college seat.
As an entrepreneur, you fight to stay ahead of substitute offerings to survive.
The competition doesn’t always have to mean getting the better of another person.
Sometimes competing with yourself to become a better version of yourself can be a better idea for both entrepreneurs and students.