Peju Kukoyi

Peju Kukoyi 

So I’m back with another pressing issue, how is the government treating you thus far? How is the student entrepreneur life treating you? Did you draw your business plans for the year? We have crossed the halfway point of the year, how is the plan going with the current economy and the demand from school and studies?

As a student in this current economy, you will agree that running a business while studying is one of the greatest financial risks anyone can venture into. Balancing classes with meeting the demands and requests of your customers can be a nightmare, especially when you have to choose between lectures/tests/attendance and ensuring the business doesn’t lose a client.

Today’s goal is to highlight points necessary to running a successful business as a student entrepreneur.

HAVE A SCALE OF PREFERENCE

Learn to prioritize your work from the most important to the least important, knowing full well that your most limited resource is time. Every minute counts for something and if not properly managed you will be losing on both academics and business.

LEARN TO SAY NO

For you to succeed as a student entrepreneur the ability not to accept every business call and every order that comes is your first step to assuring a study-work balance. Understand and scale your orders, and learn to deal with orders/sales according to the time available to you.

DO MORE ONLINE

80% of your business should be done online, reduce the need for a physical meeting, and build a brand of trust to attract clients who can offer you money for goods/services without needing to want to meet.

DO MORE DURING YOUR SCHOOL BREAKS

The best time to prioritize your business is during school breaks and holidays, this is when you have the luxury to meet up with your client build your brand and make amends where necessary.  You are going to be able to achieve more and reach even new and insecure clients who are yet to trust you enough to give you their resources without meeting with you.

CUSTOMER SERVICE

Your business is as successful as you treat your clients no matter how small or how big. You should never be so overwhelmed or familiar with your clients that you forget that they are first your clients before they are your friends or acquaintances. When a person is valued and treated right they will always come back.

REST

Knowing that rest is crucial to everyone, especially for a student entrepreneur who in is running the school and a full business. As a student entrepreneur, you’re your own marketing office, PR officer, HR, Customer service, dispatch rider and manufacturer depending on the business. Make rest a priority for you so you can maximize your time and make good grades in school as you make money.

Underestimating the Market

Before you begin your student entrepreneur journey, take your time to study the market, understanding the market share available to your product/service who the potential customers are and what they need. Having a clear understanding of the market will help you not to underestimate its size and potential.

Focus your energy on the immediate things like personal growth, market research and getting all the necessary understanding of the product know that not all business is ideal, so be very flexible with your business hours and business relation “different strokes for different folks”.