By Anjorin Aderonke Blessing
Entrepreneurship has evolved beyond just starting a business to make a profit. Today it’s about harnessing innovation to drive social change and solve real world problems, with the internet vast reach .
entrepreneurs can create impactful solutions that improve lives and address processing issues additionally offers individuals the freedom to forge their own career paths and generate income by creating valuable product or services that meet people’s needs ,
while it comes with risks, the potential rewards and long-term success make it a fulfilling pursuit entrepreneurship play a vital role in the economy and student entrepreneurship is not an exception, by starting their own business student entrepreneurs contribute to the economy in various ways. student entrepreneur help leads to job creation, both within their own business and in related industries, this not only provides employment opportunities for their peers but also stimulates economic growth student entrepreneurship can better appreciate the impact of their endeavors.
They can leverage their creativity innovation, and risk taking spirit to drive the economic growth create jobs and contribute to the overall wellbeing of their communities.
the rise of student .entrepreneurship is a notable development that its redefining the way we approach education and career paths.
an increasing number of students are embracing entrepreneurship as a viable career option turning their ideals into business while still in school.
this trend is fueled by a mix of factors, including desire for autonomy, the need for flexible career options, and the opportunity to monetize their passion, student entrepreneurs are utilizing resources like university incubators, mentorship programs and online platform to access funding, network and gain visibility for their ventures.
Entrepreneurship also serves as a means of benefit for students who venture into business and some of the benefits include: developing skills and knowledge, learning practical business skills that prepare students for the
future, fostering innovation and creativity that leads to unique solutions, encouraging financial independence through financial stability and reduced
stress, and building confidence and self-esteem by instilling pride and a sense of accomplishment
Student entrepreneurs encounter numerous challenges, including balancing academic responsibility with business, where student entrepreneurs struggle to allocate time and energy between academic obligation and business demands risking neglect of one or both, another is limited resources and funding where student entrepreneurs face constraints on capital, infrastructure and personnel, hindering business growth and forcing creative problem solving, additionally lack of experience and mentorship is a challenge, as student entrepreneurs lack guidance, support, making it difficult to navigate challenges and make informed decision , managing risk and failure is equally daunting, as student entrepreneurs must cope with uncertainty, setbacks and potential business failure which can be emotionally taxing and financially costly.
Ultimately effective time and management and prioritization are essential to juggle multiple responsibilities, prioritize task and maintain productivity in both academic and business pursuits
A great example of successful student entrepreneurship is Mary Okoro story a mass communication student at university of Nigeria, had a strong desire to be an independent woman and entrepreneur, she wanted to ern an income while maintaining her academic priorities and integrity, despite initial setbacks including a failed attempt at sales and delivery of goods, mary preserved and discovered a lucrative opportunity in making oil perfume, however her first two batches of perfume were diluted and didn’t last, leading to dissatisfied customers and losses.
instead of giving up, mary drew strength from her mother’s encouragement and committed herself to research and self-improvement, she learnt to differentiate authentic perfumes from counterfeit products and tirelessly marketed her genuine oil perfume to students and staffs on campus, despite facing ridicules and exploitation attempts, Mary remained focused and determined. her hard work paid off and she eventually became a successful entrepreneur, supplying perfumes to resellers and employing others to sell for her, Mary’s business allowed her to finance her education and living expenses without burdening her mother.
Through her journey, Mary learned valuable lessons about resilience, self-belief, and the importance of quality products and customer satisfaction, she hopes to inspire fellow young entrepreneurs to pursue their passion and transform their dream into reality. adapted from://therecordum.com
Here is Some Interview From Some Student Entrepreneurs;
Interviewer: what inspired you to become a student entrepreneur, and how has it been so far?
Kate from Ekiti state university, from the department of mass communication, talked about what inspired her as a student entrepreneur: she said, I was inspired to my own business to turn my passion into a career, gain practical experience, develop valuable skills, build a network, create something from scratch, earn extra income and challenge myself. My journey has been rewarding and fulfilling, but also challenging and overwhelming at times. Kate had to learn a lot of new things quickly, which was difficult, but it was the effort. I have met new people, learned from mentor, and developed important skills like time management, prioritization, and adaptability. Overall, it’s been an incredible journey of growth and self-discovering.
2. Interviewer: How do you balance academic performance responsibilities with the demand of running business and strategies have been most effective for you.
Boluwatife from Prince Abubakar Audu University from the department of economics shared her insights on balancing academic performances with business responsibilities. She emphasizes that it is essential to message your time effectively, prioritize tasks and make strategic decisions. According to her to achieve this balance, first and foremost plan your day, week and month allocating all specific times for studying business task and personal activities. Secondly set specific goals and priorities for academic business, align them with your values and objectives. Finally utilize tools like calendars, to do lists, and projects management software to stay organize focused and productive.
3. Interviewer: How do you prioritize self-care and mental health while juggling the stresses of entrepreneurship and academic life?
Fatima, a student of Prince Audu Abubakar University, from the department of mass communication, think it is important to take care of yourself when you are busy with school and starting a business. She said, you should be kind to yourself, set goals that are achievable, make time for fun and relaxation and get enough sleep and healthy foods. doing things that will help you relax like exercises or hobbies can also make stay mentally strong. By taking care of yourself you can feel mentally strong, you can feel better and do well in both academic pursuits and business.
4. Interviewer: How do you see your entrepreneurial venture evolving after graduating and what plans do you have for sealing or sustaining your business?
Kemisola, a student at Obafemi Awolowo University has big plans for her business after she graduates she wants to offer more products or services to more people, advertise and market her brand better and build a strong online presence. She also wants to partner with other business, keep improving her products or services and explore new markets. Kemisola plans to build a strong team, invest in their training, and focus on being sustainable and responsible she believes these plans will help her bring growth and make her succeed in the long-run, and she is to put them into action after graduation.
5. Interviewer: What advice would you give incoming students who are interested in pursuing entrepreneurship and what resources would you recommend they explore
A graduate of Prince Abubakar Audu University Kogi state Blessing David who earned a degree in computer science, offered the following advice: if you are new to the university setting and you aspire to establish your own business venture, firstly, contemplate your passion and explore the possibility of transforming them into aviable business enterprise, do not hesitate to experiment with novel approaches and take calculated risk, as you will inevitably garner valuable insights from your mistakes, your academic institution offers a plethora of resources to facilitate your entrepreneurial endeavors including business courses entrepreneurship development skills and workshops, additionally you may engage with successful entrepreneurs and gain valuable wisdom from their experiences, further more various programs exist that can provide financial support and guidance to aid in the launch of your business, remember to maintain a commitment to ongoing learning, remain receptive to innovative idea, and do not hesitate to seek assistance when necessary.
There are lucrative tips and advice for aspiring student entrepreneurs. first, identify your passion and interest by taking time to reflect on your hobbies, strengths and values to discover a business idea that genuinely excites and motivates you,
as this passion will drive your entrepreneurial journey, Next, conduct market research and validation by immersing yourself in understanding your target audience, industry trends, and competitors to validate your idea, gathering feedback and insights that will refine your business strategy.
additionally, build a strong team and network by surrounding yourself with diverse, talented individuals who share your vision, and cultivate meaningful relationships with mentors, peers and industry experts to foster support, guidance and opportunities. then create a business plan and pitch by developing a comprehensive plan outlining your business model, goals and financial projections, and craft a compelling pitch that concisely communicates your value propositions to potential investors, partners, and customers.
Finally overcome fear and take action by embracing the uncertainty and risk of entrepreneurship and taking bold steps towards launching your ventures learning from failures, and iterating on your approach to achieve success.
Writer
ANJORIN ADERONKE BLESSING
