No, I’m not imagining it. There’s a lot of talk in the media about young entrepreneurs disrupting traditional industries and making huge profits in the process.
That’s because more young people than ever are choosing to take control of their own financial destiny. According to a study conducted by Junior Achievement USA, approximately 60% of teens are more interested in starting a business in the future than pursuing a traditional job.
This statistic is not surprising. With flexible work hours, a greater sense of purpose, and theoretically unlimited income potential, the appeal of entrepreneurship is clear to those who take the plunge.
With the right tools, anyone can learn how to become an entrepreneur. And the sooner the journey begins, … [+]
Of course, teen and young adult entrepreneurs have to worry about something older entrepreneurs don’t: balancing school and business ownership. Sure, Bill Gates and Mark Zuckerberg come to mind, but some notable entrepreneurs have successfully dropped out of college to focus on business. But far more future leaders take an even bolder path and use their education to open entrepreneurial paths that otherwise would have been inaccessible to them.
How to use education
If you are a young entrepreneur planning your own business journey, use these strategies to put your education to good use.
1. Participate in an entrepreneur group or extracurricular activity
Virtually all institutions of higher education have at least one student group dedicated to entrepreneurship, as do most medium-sized and large high schools. If you want to take the hassle out of leadership, there’s no reason not to get involved.
There are so many options out there that it can be overwhelming. Joan Saleh, president and CEO of Teachers on Call, a Canadian tutoring organization for K-12 students, points young entrepreneurs in the right direction. I encourage you to find a mentor who can help you. “I was fortunate to have caring teachers who nurtured my curiosity in business and taught me that learning is truly never-ending,” Saleh explains. did. “These early experiences were an integral part of my entrepreneurial journey that ultimately prepared me for my current role, which happened to be leading an education company.”
2. Utilization of academic research
You don’t need to major in a hard science to harness the power of academic research in your entrepreneurial endeavors. Possible routes are:
- Partner with a science major or faculty member to advance research on new product, process, or compound ideas
- If your school allows it, set aside lab time to pursue your ideas on your own
- Approaching teachers as advisors for new businesses
- Dive into academic journals to find unknown or new ideas with high potential for commercialization
Whichever approach you choose, be bold and take advantage of the academic research resources at your disposal. And remember, you’re not limited to what’s available at your institution. Browse digital research journals in just a few clicks.
3. Look for mentorship and mentee opportunities
Educational institutions are ideal places for young entrepreneurs to find mentorship opportunities. When approached proactively, these early relationships can be extremely valuable during the critical first few years of your business journey.
Be aware of the special considerations you face as a young entrepreneur juggling academic studies and business leadership responsibilities. Manage your time effectively, focus on your academic goals while pursuing an entrepreneurial venture, seek out mentors who understand the duality of your endeavors, and address your academic and business concerns. You must configure a shipping session.
Although aimed at non-student leaders, the advice shared by Harvard Business Review writers Suzanne de Janas and Maury Peipard is worth considering here. “Matching mentors and mentees, structuring sessions that provide the intended benefits, and prioritizing the process so it is not crowded by other demands require special consideration,” the pair write.
Also, it’s never too early to start thinking about the other side of the relationship. As you progress in your entrepreneurial journey and become more comfortable as a business leader, you will have the opportunity to become a mentor yourself. Even after you graduate, stay in touch with your school’s entrepreneurial community and the individual staff and faculty who supported you along the way. Get that return by making yourself available as a resource for the next generation of founders.
4. Develop interdisciplinary skills
Education is about making social, intellectual, and other connections. Educators and their institutions are increasingly recognizing the importance of such connections. This is creating interdisciplinary approaches across fields, especially in non-STEM fields where students and future leaders benefit from a holistic understanding of the issues at hand.
This can be facilitated by taking courses outside your major, participating in interdisciplinary projects, and seeking opportunities to collaborate with people from different backgrounds.
João F. Marquez, dean and professor of management at Woodbury University School of Business, observes this in his own students. Of the students enrolled in her interdisciplinary study program, she writes: “While immersed in their education, these individuals were empowered to examine their professional performance, reflect on their passions, and muster the courage to explore unconventional paths. As a result, they I achieved goals I never imagined before.”
Success or failure depends on the ability to connect disparate information and come up with solutions that no one has considered yet. Marquez’s words could be akin to a mantra. Multidisciplinary approaches are also important in other ways, such as supporting individual and team resilience.
The beginning of the journey
Entrepreneurship is a journey. For some, that journey begins very early, with the responsibility of running a business coming before the traditional responsibilities of adulthood.
If you consider yourself part of a growing group of teen and young adult entrepreneurs, you have incredible opportunities not available to your older peers. The option is to use your education to hone your leadership acumen and learn the skills you need to succeed. In all future endeavors.
You won’t get this chance again, so you shouldn’t miss it. To get the most out of it, learn about the benefits of joining an entrepreneurial group early, the intersection of academic research and business leadership, the value of mentor-mentee relationships, the importance of individual and team resilience, and interdisciplinary The vitality of learning and practice.
Your path to leadership will not be quick. It’s not easy. It never develops in a straight line. But it’s all yours. Get started today and make the most of what you learn.
