As more and more students are graduating these days, there is a huge demand for jobs. The recruiters have become highly selective even if it is a small job with less salary. For a developing nation like India, student entrepreneurship is a new demand in the air.
Student entrepreneurship is a new field which can drive huge employment to the human resource of a nation. There is a scope of huge innovations as more young and fresh minds will be involved for creating something unique for their organisation.
Entrepreneurship Challenges and their solutions:
A. Financial Investments
For a student to collect finance for his/her organization will be a big challenge. The enterprise he is going to invest in has to be something very creative in order to attract big investors. It has to be new and suitable to the environment where the business will be done.
Unless the idea is not very attractive, it will be hard to find a good investor. So before entering into facing the entrepreneurship challenges one has to select the area of business very carefully.
B. Find Human Resource
For an enterprise, the entrepreneur has to find capable people who can work with him/her. For a start up it will be very hard to find people who are really reluctant to work. Unless they are benefited with perks and good salary they won’t turn up. The entrepreneur has to explain them their role in the business and how it can be an added advantage in his/her career through student entrepreneurship.
C. Lack Of Corporate Experience
Student entrepreneurs have to generally work very hard in order to understand the working process of the business world. They have to face entrepreneurship challenges in many situations in better understanding the situation and how to act. These problems occur mainly due to lack of proper corporate world experiences.
D. Wanting To Give Up
It is the most basic and negative feeling that most of the new entrepreneurs get. Some business take time to grow and some require huge efforts, getting feelings of giving up everything is mostly common. One has to stay motivated and confident in whatever he/she is doing.
E. Sustainable Competitive Growth
Once started, the entrepreneur must work harder to keep the business grow constantly even if many failures occur. The competition in the market will be tough and one must think of newer ways of making their product unique and attractive for the target customers.
In general, student entrepreneurship is generally found in large numbers in developing countries like India. They provide opportunity to grow and do something unique independently. They are one of the major sources for creating large number of employment. Hence students who are reading this post, I highly encourage you to face entrepreneurship challenges if you think you have the zeal to do something big for yourself.
This is a guest post by Syed Fazle Rahman .