Adam Toren – Co-Founder of YoungEntrepreneur.com

Adam Toren

 Adam Toren is Co-Founder of  YoungEntrepreneur.com and Co-Author of Kidpreneurs.org. Adam is also a Business Coach at: BizWarriors.com .

What advice can you give college students who want to gain hands on experience during the academic year ?

Okay, so you are in college and have a great idea for a business start-up, but how far are you willing to go to make that idea for your new business into a money maker as opposed to a dream? Are you driven to create the new business that you have been thinking about or are you just bored with college life and think that a new business will be less work?

There are many questions that you have to ask yourself when you decide to start your own business. You have to be totally committed to the idea and willing to work through all the trials and tribulations. If you think that the start-up stage is going to be easy, think again. It is difficult, but rewarding at the same time. You have to be prepared to meet any and all challenges that lie ahead or your business will not be a success.

Long Hours

When you have your own start-up, expect to work hard and long hours to get your business going. You will be on your own, without anyone holding your hand along the way. You may want to consider finding a co-founder that compliments your skill set. I think to be a successful entrepreneur you need to be able to work-hard and stay focused for extended periods of time without many tangible results. Taking steps to become organized seems to really help, because being an entrepreneur is inherently disorganized and it helps to counteract that phenomenon. People who have a keen understanding of the value of a dollar and how to make one definitely helps when in start-up mode.

Schedule

Try to get into a good schedule. Carve out specific hours in the day that you’ll work on school and specific hours of the day you’ll do business. Doing two things at once doesn’t work to your benefit. The profit that you expect to make may very well be in the future as most businesses do not turn a profit in the first year. But, if you are strong willed, passionate about your idea and determined to succeed in your business, your chances of becoming successful have just tripled!

Commitment

Commitment is one of the main keys to becoming successful in your own entrepreneurial venture. Before you start looking for start-up capital, co-founders or even writing your business plan, be sure that you are totally committed to success. You need to be committed and passionate about your business idea and be willing to give it a good chunk of your time. You should start a business that you love, that you will want to continue to work on because you believe in the idea and the need for the business. Remember – if you are doing something that you like, you will never really work a day in your life. Those who succeed in their own business love the business that they are in and enjoy the work that it takes to build the business idea into reality.

“To accomplish great things, we must not only act, but also dream; not only plan, but also believe.” – Anatole France

Before you start your own business, ask yourself these questions:

* Can you put in the time it will take to make your business successful?
* Are you able to take on the challenges of a new business?
* Do you have people who will stand behind you with your new business, such as family,friends & mentors?
* Get a hold of potential clients or customers and talk about the business to determine their interest.
* Do a marketing study such as offering sample products or services on a trial basis to see the general interest in your concept.
* Research your competitor’s businesses so that you can better understand your own business prospects – learn their strengths and weaknesses and see how you
can capitalize on strengths and eliminate the weaknesses in your own start-up.

If you’re wondering whether college is worth it for the young entrepreneur , take a look at the links below.

100 Top Entrepreneurs Who Succeeded without a College Degree

Is College Necessary for Young Entrepreneurs?

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s