Special Episode: I was interviewed on the Marketing on the Move podcast and I shared the findings of my 4 years of research on studentpreneurs!
Summary:
Studentpreneurs are a growing phenomenon with some famous entrepreneurs (Larry Page and Sergey Brin from Google and Steve Huffman from Reddit). The numbers are rare numbers about it but in the UK a study showed there 80,000 studentpreneurs (3.5% of uni students) with an estimated collected revenue over 44 million pounds or AU$80M.Remember, the best time to start a business is when you are a student, pretty much no expenses, you can undercut everyone and nobody cares when you fail. What this study does is back up with some management theories our gut feeling on studentpreneurs. This is necessary to build dedicated programs. Here I am going to summarise 4 years of research in a list of 7 items without encryption in academic language. SECTION 1: The main problem is that studentpreneurs do not see themselves as entrepreneurs. Mostly because they do not know what is an entrepreneur, or what they know is too daunting (eg: Steve Jobs). It takes them a long time to build and embrace that identity. 1- Three stages on the journey of studentpreneurs. The uni programs for studentpreneurs need to take them on that journey but at a faster pace.
2 - Four profiles of studentpreneurs to identify when designing a dedicated programs:
3 - Three ways to support studentpreneurs in constructing their identity of entrepreneurs:
SECTION 2: 3 key elements in how studentpreneurs pursue opportunities with limited resources, need to be fostered by uni incubators and accelerator programs. 4 - Entrepreneurial Human Capital
5 - Entrepreneurial Social Capital: building relationships
6 - Entrepreneurial Cognition Capital -> Decision Making & How to make their own luck!
7 - All these elements apply to pivoting: developing at are important to start a business or pivot it. They are going to keep using them Summary: need to organise entrepreneurial events to help studentpreneurs go through their journey to become entrepreneurs. Uni programs need to help them realise they are different, that they want to make money and it's okay. Different profiles can be targeted. Help the young entrepreneurs around you find about other studentpreneurs' journey by listening to StudentPreneur podcast. If you have what it takes you can apply to share your story on air. CLICK HERE h5x7kpxf
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