{"id":23032,"date":"2023-06-08T10:29:39","date_gmt":"2023-06-08T10:29:39","guid":{"rendered":"https:\/\/www.potential.com\/?p=23032"},"modified":"2023-06-08T10:32:46","modified_gmt":"2023-06-08T10:32:46","slug":"how-to-start-a-business-at-college-in-2023","status":"publish","type":"post","link":"https:\/\/www.potential.com\/articles\/how-to-start-a-business-at-college-in-2023\/","title":{"rendered":"How to Start a Business at College in 2023"},"content":{"rendered":"<p><span data-contrast=\"auto\">&#8220;I don&#8217;t want to work for \u2018the man\u2019, it\u2019s better to be independent and bring my own ideas to life.&#8221; Many students have such thoughts, but few move from plans to action. Basically, they are afraid of too many pitfalls and responsibilities. Plus, it\u2019s rather hard to understand where to start and where to get the start-up capital.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">To figure these issues out, we have compiled a detailed guide. Below, we will help you realize if you are ready to become an entrepreneur, where to look for business ideas and investments, how to compile a business plan, and how to avoid common beginner mistakes. Hurry up to \u201c<\/span><a href=\"https:\/\/essaypro.com\/\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">do my essay<\/span><\/a><span data-contrast=\"auto\">\u201c service, get yourself a cup of coffee, and dive into the topic together with us. While talented authors complete your homework for you, you can finally focus on what matters most to you right now!<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<div id=\"attachment_23034\" style=\"width: 730px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-23034\" itemprop=\"image\" class=\"wp-image-23034 size-full\" src=\"https:\/\/www.potential.com\/wp-content\/uploads\/2023\/06\/48.png\" alt=\"entrepreneur \/ college student\" width=\"720\" height=\"405\" \/><p id=\"caption-attachment-23034\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/unsplash.com\/photos\/o2hPCfwPPkw\" target=\"_blank\" rel=\"noopener\">unsplash<\/a><\/p><\/div>\n<p>&nbsp;<\/p>\n<h2 aria-level=\"2\"><strong>Evaluate Your Personal Potential\u00a0<\/strong><\/h2>\n<p><span data-contrast=\"auto\">To begin with, it\u2019s essential to realize that entrepreneurship isn\u2019t the only path to success. According to statistics, only 6% out of 100% become prosperous businesspeople. Psychologists say that most often, these are leaders with the following set of qualities:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\u25cf\" data-font=\"Calibri\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Courage and willingness to take risks;<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\u25cf\" data-font=\"Calibri\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Passion for work;<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\u25cf\" data-font=\"Calibri\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Strategic thinking and the ability to visualize ideas both globally and in detail;<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\u25cf\" data-font=\"Calibri\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"auto\">Ability to analyze competitors and a variety of customer groups;<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\u25cf\" data-font=\"Calibri\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-contrast=\"auto\">Leadership traits to assemble an effective team of specialists.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">You can also find out if entrepreneurship is right for you with the help of a career guidance test. It will determine your strengths and weaknesses and show whether you have certain skills and which areas have more potential for you.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><script src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\" async=\"\"><\/script><br \/>\n<ins class=\"adsbygoogle\" style=\"display: block; text-align: center;\" data-ad-layout=\"in-article\" data-ad-format=\"fluid\" data-ad-client=\"ca-pub-4560705956205775\" data-ad-slot=\"9135581814\"><\/ins><br \/>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n<h2 aria-level=\"2\"><strong>Formulate Your Business Idea\u00a0<\/strong><\/h2>\n<p><span data-contrast=\"auto\">Some entrepreneurs distinguish two ways to find a business idea: an emotional one and an analytical one. In the first case, your hobby must become the basis for your company. In the second, you will move on to what\u2019s in demand on the market.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:276}\">\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Also, analyze what kind of expertise you currently have. It must be supported by your achievements and specific cases. For example, you are talented in sales, you cook really well, or your texts are engaging.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Next, you need to assess the demand for your expertise and observe the situation in the market. To do this, answer the following questions:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<ul>\n<li><span data-contrast=\"auto\">Do people have some needs that only you can satisfy?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Can you do something better, faster, cheaper, or cooler than others?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Why would potential buyers want to pay for your products or services?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">Also, pay attention to such spheres:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<ul>\n<li><span data-contrast=\"auto\">Local tourism;<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Learning new skills, self-development;<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Delivery and logistics;<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Coaching and psychology;<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Sharing economy (joint consumption);<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Recycling \/ reusable things;<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">\u0421hildren&#8217;s clubs and kindergartens;<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Creative studios (clay modeling, drawing, dancing).<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">It might be promising to sell things through Instagram or an online store, organize a team of freelancers, or create an educational project.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2 aria-level=\"2\"><strong>Make A Business Plan\u00a0<\/strong><\/h2>\n<p><span data-contrast=\"auto\">A business plan is a tool that allows you to do many things. First, that\u2019s how you test an idea and evaluate whether it is profitable or not. Second, you realize how long the investment will pay off (and whether it will pay off at all) and how many resources you need at the beginning.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Why do you need a business plan? To minimize risks and not invest in a project that doesn\u2019t pay off, of course.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">A typical business plan structure looks like this:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<ul>\n<li><span data-contrast=\"auto\">Summary of the project (a brief description of the business idea, necessary resources, and investments);<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Market analysis (describe the problem you want to solve);<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\"><a href=\"https:\/\/www.potential.com\/articles\/elements-of-a-marketing-plan\/\" target=\"_blank\" rel=\"noopener\">Marketing plan<\/a>;<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Production plan;<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Organization plan;<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\"><a href=\"https:\/\/www.potential.com\/articles\/financial-planning-tips-for-entrepreneurs\/\" target=\"_blank\" rel=\"noopener\">Financial plan<\/a>;<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Risk analysis.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">A business plan is a simulation of how your idea can become a reality.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><script src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\" async=\"\"><\/script><br \/>\n<ins class=\"adsbygoogle\" style=\"display: block; text-align: center;\" data-ad-layout=\"in-article\" data-ad-format=\"fluid\" data-ad-client=\"ca-pub-4560705956205775\" data-ad-slot=\"9135581814\"><\/ins><br \/>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n<h2 aria-level=\"2\"><strong>Find Financial Resources\u00a0<\/strong><\/h2>\n<p><span data-contrast=\"auto\">Here are some of the time-tested variants:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<ul>\n<li><b><span data-contrast=\"auto\">Your own savings<\/span><\/b><span data-contrast=\"auto\">. It\u2019s the simplest option, as you don\u2019t owe anything to anyone;<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li><b><span data-contrast=\"auto\">Find an investor<\/span><\/b><span data-contrast=\"auto\">. It\u2019s one of the most difficult ways, but if you have prepared a high-quality business plan and are passionate about your idea, it\u2019s definitely worth a try;<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li><b><span data-contrast=\"auto\">Take part in the competition <\/span><\/b><span data-contrast=\"auto\">and win a grant. Now, government organizations and international sponsors offer many grants;<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li><b><span data-contrast=\"auto\">Crowdfunding<\/span><\/b><span data-contrast=\"auto\">. Post your business idea on one of the crowdfunding platforms, and if people support it, you will receive donations;<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li><b><span data-contrast=\"auto\">Bootstrapping<\/span><\/b><span data-contrast=\"auto\">, that is, borrowing from friends, colleagues, and relatives. Be sure to discuss the conditions of your cooperation and fix them on paper;<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li><b><span data-contrast=\"auto\">Get a <a href=\"https:\/\/www.potential.com\/articles\/bank-loan-evaluations-for-smes-and-startups-quick-guide\/\" target=\"_blank\" rel=\"noopener\">loan from a bank<\/a><\/span><\/b><span data-contrast=\"auto\">. However, this might be risky, so better study the ways mentioned above.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<div id=\"attachment_23037\" style=\"width: 730px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-23037\" itemprop=\"image\" class=\"wp-image-23037 size-full\" src=\"https:\/\/www.potential.com\/wp-content\/uploads\/2023\/06\/Blog-post-20.png\" alt=\"entrepreneur working on their laptop\" width=\"720\" height=\"405\" \/><p id=\"caption-attachment-23037\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/unsplash.com\/photos\/YTZOyio3Udk\" target=\"_blank\" rel=\"noopener\">unsplash<\/a><\/p><\/div>\n<p>&nbsp;<\/p>\n<h2 aria-level=\"2\"><strong>Move On To Realization\u00a0<\/strong><\/h2>\n<p><span data-contrast=\"auto\">Work on the implementation of your idea according to the business plan. After all, you wrote it to make your life easier, right? Also, follow these rules:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\u25cf\" data-font=\"Calibri\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Keep track of your progress<\/span><\/b><span data-contrast=\"auto\">. And be sure to make adjustments if the reality changes. You need to be aware of all the events and news in your field in order to be one step ahead of your competitors;\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\u25cf\" data-font=\"Calibri\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Find an enthusiastic team<\/span><\/b><span data-contrast=\"auto\">. This is how you achieve your goal faster and more efficiently;<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\u25cf\" data-font=\"Calibri\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Remember about the budget<\/span><\/b><span data-contrast=\"auto\">. Financial miscalculations are simply unforgivable at this stage. Get ready for the fact that you will need 20-30% more money than planned, and you will often have to look for ways to reduce costs.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559740&quot;:276,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">Be prepared for the fact that reality can be very different from your dreams, plans, and goals.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><script src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\" async=\"\"><\/script><br \/>\n<ins class=\"adsbygoogle\" style=\"display: block; text-align: center;\" data-ad-layout=\"in-article\" data-ad-format=\"fluid\" data-ad-client=\"ca-pub-4560705956205775\" data-ad-slot=\"9135581814\"><\/ins><br \/>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n<h2 aria-level=\"2\"><strong>The Bottom Line\u00a0<\/strong><\/h2>\n<p><span data-contrast=\"auto\">In conclusion, we want to talk about the most common mistakes student entrepreneurs make.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The first and worst mistake is micromanagement. This is when an entrepreneur tries to control low-level tasks, losing focus on the strategic development of the project. Micromanagement negatively affects the team. It loses its sense of freedom, self-worth, and desire to initiate ideas. Solution: learn to delegate tasks.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The second is poor risk analysis. Something always goes wrong, and it\u2019s your responsibility to predict it. Solution: when starting a new project, make a risk response plan.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The third is verbal agreement\u0456. If the agreements aren\u2019t fixed anywhere in writing, consider that they don\u2019t exist. Verbal solutions are often forgotten, which is why the result can be unpredictable. Solution: Document all agreements.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Fourth is employing the wrong people. There are projects that are suitable for employees without experience. But some businesses simply cannot exist without middle\/senior level specialists. Solution: recruit staff according to your needs.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:276}\">\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Fifth is poor communication. This is the lack of feedback, motivation, and informal communication with the team. All this leads to a negative atmosphere where everyone doesn\u2019t feel supported and heard. Solution: communicate your values to employees and implement them yourself. You can arrange short coffee calls, create a chat, and introduce other activities such as weekend getaways.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;I don&#8217;t want to work for \u2018the man\u2019, it\u2019s better to be independent and bring my own ideas to life.&#8221; Many students have such thoughts, but few move from plans to action. Basically, they are afraid of too many pitfalls and responsibilities. Plus, it\u2019s rather hard to understand where to start and where to get [&hellip;]<\/p>\n","protected":false},"author":74,"featured_media":23037,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,20],"tags":[],"class_list":["post-23032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-entrepreneurship"],"_links":{"self":[{"href":"https:\/\/www.potential.com\/wp-json\/wp\/v2\/posts\/23032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.potential.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.potential.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.potential.com\/wp-json\/wp\/v2\/users\/74"}],"replies":[{"embeddable":true,"href":"https:\/\/www.potential.com\/wp-json\/wp\/v2\/comments?post=23032"}],"version-history":[{"count":4,"href":"https:\/\/www.potential.com\/wp-json\/wp\/v2\/posts\/23032\/revisions"}],"predecessor-version":[{"id":23039,"href":"https:\/\/www.potential.com\/wp-json\/wp\/v2\/posts\/23032\/revisions\/23039"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.potential.com\/wp-json\/wp\/v2\/media\/23037"}],"wp:attachment":[{"href":"https:\/\/www.potential.com\/wp-json\/wp\/v2\/media?parent=23032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.potential.com\/wp-json\/wp\/v2\/categories?post=23032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.potential.com\/wp-json\/wp\/v2\/tags?post=23032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}