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Monday, June 22, 2020

5 Startup Lessons They Don't Teach You in College

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After graduating, the next thing we like to do is partying and celebrating the victory. However, nobody will tell you that challenges are actually on the other side of the college life. Nowadays, every youngster wants to be an entrepreneur, but you know what? Your degree can give you an opportunity to enter in the corporate world but your skills make you survive. In college, you learn what is given in a syllabus, but if you want to be an entrepreneur, there are few things they don't teach you in college.

Let's find out the lessons you may not learn in college

1. Deal with Failure

A leader fail many times before he succeeds! Every entrepreneur faces failure once in a lifetime but this is not the end of a life. Failure is a continuous process and with every failure, you can make your next move is a successful one. However, nobody will teach you in college how to prepare for failure or for not getting a job. This is something you learn in outside world when life tests you. In a corporate world, failure is a very normal thing but how you deal with it make all the difference!

2. Raise Money

Raising money for a startup is not a piece of cake! Its paperwork is very complex. The banks and investors expect you to submit a detailed business plan that describes everything about the product from how it works to how it will generate revenue. Further, you can consult a financial planner for accounting and tax advice. As it will help you to negotiate with investors and banks. Nobody will teach you how to convince someone to invest in your business. No worries! Skills like convincing power develop with every attempt.

3. Think out of the box

Often in school, we get a syllabus for every subject. However, outside the school, in a corporate world, ambiguity rules. If you don't have the courage to try something new, you will never come up with something unique. In a competitive world, if you want to lead in the industry, you need to think out of the box. In the end, being innovative and creative is the key.

4. Become a Leader

Being a good leader is not everyone's cup of tea! A leader wears so many hats and handles so many responsibilities on his own. Every entrepreneur is not a leader, but every leader can become an entrepreneur. However, you won't learn how to be a great leader in school or college. In the journey of life, your lessons and failure will tell you what it takes to become a great leader.

5. Manage your Time

In college, you are a free bird, you can enjoy leisure time any day. However, that won't happen in the corporate world. To run a successful startup you are going to work for 24/7, no matter how tired you feel. So, when your friends are enjoying happy hour, don't feel upset about preparing a business plan. In the end, it is all about priority, its OK to sacrifice few things to achieve bigger goals.


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Source by Manoj Rana