“What are 3 pearls of wisdom you’d give college students on the subject of entrepreneurship?”
Part of me hated having to choose only 3, since there are no encyclopedia book sets large enough to contain all the business wisdom of the universe. But I can appreciate the question, since it really made me think (& that rarely happens), & instead of overwhelming a young buck with too many ideas & risk “paralysis by analysis;” I’d rather give him/her something short, sweet, & actionable.
& here they are, in case you were curious to know how I think (as a disclaimer, most think my mind is a scary place to be – enter at your own peril):
(1) Do what you love. Yes, you’ve heard this over & over, but I’m afraid it gets desensitized in the minds of wanna-be entrepreneurs who are mainly money-motivated, & are just jumping on impulse, trends, or anything where the heart is not present. Expect your outcomes to be undesirable & short-lived.
This rule cannot be repeated enough. If you love what you do, you’ll never work another day in your life. You’ll wake up every morning, excited at the thought of getting paid just to do your hobby. You’ll work longer & harder than anybody else – & success belongs to those who go the extra mile. You’ll be able to weather all of the failures & setbacks that arise on your journey – & there is no question they’ll try at anything to stop you.
But love will conquer all.
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(2) Don’t be afraid to take risks. Generally, if you are still young, I’d advise you to take as many CALCULATED risks (note the capitalized letters) as possible. Why? Because at your stage in life, generally you’ll have more energy to give your aspirations 110%. The lack of obligations (like kids, family, debt, etc.) will allow you to think more optimistically – & that’s a mindset required for success. You’ll have more time to recover from life’s beatings.
& when you are successful, you can enjoy the fruits of your labor much longer. & that means a lot, since life is short.
(3) Don’t be afraid to ask for help. Every successful person has had help along the way. There is no such thing as a “self-made person,” or they’d be slapping the face of every teacher/mentor who held their hand, hero who inspired them, author who wrote a book that changed their lives, &/or family member, friend, partner or colleague who supported or helped them.
There are libraries & bookstores full of books/magazines/articles of folks who have done what you aspire to do, & can guide you through. You’d be surprised how many successful people are out there who are happy to help in an effort to “pay it forward.” There are legions of folks like you who’d love to partner up & take you to the next level. Even the government has programs like SCORE that want you to succeed.
I’ve always been taught that “If you go at it alone, you’ll go faster – but if you go at it together, you’ll go further.”
These are my 3-bies – what advice would you give young, aspiring, college kids when it comes to success in business, entrepreneurship, & just life in general? I’d love to hear them. Let’s master mind to help each other as well as tomorrow’s future leaders!
Article written and contributed by Paul T. Tran. Paul is an entrepreneur, restaurateur, and investor. Check out his blog at paulttran.com
From: http://www.moomkin.com/advice-for-business-students/
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