5 Skills You Have to Master to Become a Successful Student Entrepreneur

student business

You’ve heard the headlines before…Mark Zuckerberg, then student entrepreneur, launches Facebook; or Evan Spiegel launches Snapchat as a college student. Both are student entrepreneurs and billionaires today.

Taking that jump to become a student entrepreneur yourself can be an exciting but scary adventure. There is so much excitement during this journey, yet there are so many challenges.

How do you know that you have what it takes to make your student start-up a success? Here are 5 skills you’ll need to master to become a successful student entrepreneur:

1. Leadership – From pre- to post-launch, you are your start-up’s leader out of the gate. There is potential that you could go from a few person team to managing more than a dozen staff in a short period of time. Some leaders are born and some require learning these skills. From setting an organizational tone to establishing the company’s strategic vision, there are several leadership competency skills that are critical to your success. Don’t forget demonstrating a strong confidence level is key to serving as your brand’s strategic leader.

2. Financial Management – Having strong levels of financial acumen is crucial to the success of your start-up. It will be important to know your financial priorities. Establishing budgets for operational expenses, marketing costs, staffing subsidies and capital expenses are all necessary. Conducting financial analysis will also benefit your start-up. Your ability to manage finances will additionally be an important factor in the eyes of your investors.

3. Communication – Clear communication is fundamental to your success. There are many complexities in the communication arena. Setting up an organizational communication plan is expected. Communication is also a key part of your marketing efforts and how you communicate with your audiences and employees is extremely important to your start-up’s success.

4. Adaptability – Let’s face it, you won’t be bringing years of experience to the table at the beginning of your start-up. But knowing how to adapt in several areas is important. The technology industry is an area that adaptability is essential. Scaling your business and managing your start-up’s growth will require agility and adaptability as well. Being adaptable will help you to deal with the unpredictable and the unknown!

5. GRIT – Where passion meets persistence! In today’s corporate world, you’ll need more than just intelligence and raw talent. Carrying out long-term goals requires stamina and ongoing enthusiasm. Professionals who have perseverance and who can self-regulate usually have the GRIT necessary for long-term, soaring success!

So, when you’re ready to light it up as a student entrepreneur and become the next Mark Zuckerberg, take these skills out of your toolkit and GO FOR IT!

Avnet continues our commitment to developing a dynamic and committed workforce and helping startups with venture development opportunities. For more on how Avnet can help your hardware startup innovate and chart a plan for growth, visit www.avnet.com.

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