To be a successful business executive has been the dream of many business students over the years. People in power suits always seem to be sitting around plush offices with views of city skylines; jet around the world to attend important meetings, and their names just resonate with money and power.
You have most likely seen a CEO on TV, in the news or in reality TV. You might even be working for one. If you have the ideals of being one of them, a good way to start is to simply think like one. Here are four thoughts that will run through the head of any effective business student, the future business leader:
#1 Business is War
Business is a cut-throat environment. You have to adopt good management and marketing strategies to stay competitive. Know your strategies well and execute them better. That is why books like Sun Tze’s “Art of War” are still relevant in times today.
– Act on your decisions once you have found the most effective and efficient solution.
– Plan your solutions with a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis. This will give you a good overview of your business and show where improvements can be made in your business.
– Encourage team effort to make taking down that big project easier!
#2 Think Big
Vision is important to any successful organization. Your ambitions will give you the passion to succeed in a competitive environment. Thinking big is the first step to achieving your goals.
– Observe highly effective business professionals like Bill Gates or Richard Branson. They have succeeded with sound business plans and strategies. Learn from their success cases.
– Doing this allows you to begin with the end in mind. Working your way towards a visible goal will allow you to focus your efforts better, thus wasting fewer resources.
– Tip: Any successful business is capable of running without CEO supervision. Keep this in mind when drafting your business plan.
#3 Embrace Constant Change
Kaizen is Japanese for “good change”. Change is the only constant in reality and no business plan will stay effective over the years. Some elements will remain classic, while some will fade into obscurity. This technique focuses on continual small changes to avoid the need for over-working to achieve something.
– Keep researching on customer preferences and updating your products to suit their needs.
– Maintain discipline to keep up the work. Consistency is needed to maintain the benefits of this strategy.
– High morale is crucial to developing a good chance. So think positive and adopt a mindset that nothing is impossible.
#4 Stay Competitive With the Latest Business Trends
Enrolling into a good business school will teach you the ropes on how to maintain a business. The school will give you the opportunity to:
– Learn from experienced lecturers who can teach you current and relevant business techniques.
– Experiment with solutions and make mistakes in a simulated environment and not in your business.
– Draft your ideal business plan that you can execute after graduation. Several business students have turned their college projects into real businesses.
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Some people dream about the opportunity of being their own boss. The flexibility to carry out what you wish whenever you want to do it, and not have to answer to any person but one’s self sounds like an optimal employment situation, but one that is out of reach to many. Not as a student. Being a student is the greatest time to start a business.
Not so in today’s climate. Self-employment and freelancing have continuously risen during the last years and goes on to do so. Freelancing as a student is relatively easy. Working from a home office is no longer just a clever bluff for out-of-work creatives or an option for company owners after thirty years of hard graft, but it’s accessible to anyone with a talent that is willing to work extra hard for the merits of managing themselves.
There are two main easy ways to be independently employed. You are able set up a business of your own, which requires registering your organization, looking for premises and recruits (and the finance to do so!), etc, or you might be a freelancer or contractor, which requires advertising your services to businesses and other individuals and hoping that someone chooses you. Use student freelancing websites to get your student business started.
Freelancing will still call for you to pay attention to deadlines and do the work that is set but does allow you to prefer whether you take the work, and allow you to choose your own pace and work schedule. It also pays more frequently and securely. You need to be an organised student in order to succeed.
Starting your own business is riskier, but gives you true independence, there can be no work except if you set it, and the work mindset you are expected to fall into is completely made up by you! However, if you don’t do the work, the money doesn’t come in and your business will find it difficult to stay money-making, so it is a double-edged sword. At university, students have the opportunity to start a business. The UK government is getting behind students who want to achieve their business dreams.
With the use of real love for what you do together with a peaceful mentality that is able to keep you content throughout the drawbacks of self-employment, there exists plenty of advantages to make it all worth chasing!
Independence: The important one. Student self-employment means never having to call in sick, never needing to brave the commute on a wet winters day, or take the criticism for something that wasn’t your wrongdoing. If you wish to take lunchtime at 10 am or perhaps even take a nap till midday then that’s fully one’s own prerogative you will easily finish up plummeting into a routine entirely of your designing, that matches with the life that you want to lead.
Variety: We are all good at something. Whether it be writing, bookkeeping or embroidery, everyone is able to do something, do it well, and accomplish this with a big smile upon their faces! With student self-employment, you choose that one thing you’re keen on working on above everything else and make it give you the results you want. The vast majority of skills can easily be converted into cash but you have to look for the right angle, and many times passion is just as, if not much more significant, than anything above competence at a job.
Achieving extra money: Security can be a large challenge with being your own boss. Never experiencing a regular paycheque may mean which you don’t always know where the upcoming income is coming from and this will make rent and bills a pain to work around. This is the reason it is best to begin your student self-employment career part-time and around your main occupation.
Not only does this usher in two salaries, but you feel secure and also have recurring cash flow arriving in to take your venture off the ground before you can make the leap to functioning self-employed full-time. Once you determine you really are creating enough to make yourself your own boss, you will find that self-employed individuals also catch a lot of breaks in relation to monthly spending, with tax breaks are available to them, and an abrupt decline in travel money! Of course, you’ll have even more tax breaks as a student, being a student is the best place to start a business. Network with other students.
By way of little guts and a large amount of exertion, becoming self-employed will not be such a challenging transition. The benefits and advantages outweigh the setbacks without question, and once you’ve started out you’ll be stunned at how rapidly you forget what it previously was like to work for an employer at all! Just manage your precious time effectually and take risks when you need to, to truly enjoy a work/life balance unlike any other. As mentioned, students are in an ideal place to start a business. Students ordinarily have the most time on their hands and there are sufficient support options for students to start a business.