While the rate of unemployment is on the rise, entrepreneurship should be encouraged among young people and undergraduates alike. Gone are the days when the idea of running a business and acquiring vocational skills was for the uneducated apprentice and then the white collar Jobs, an exclusive reserve for the educated. Fact now is that business and entrepreneurship is the game changer; obviously two of the four decent ways you can escape financial dependence, poverty, lack and unemployment.

Unlike a regular apprentice, undergraduates in the early stages of their tertiary education are exposed to business education and entrepreneurial studies. This gives them a decent business education background and an opportunity to put their entrepreneurial skills to use, get self employed and become independent in the government for livelihood.

You may like to read through: business education project topics and research materials.

While this is necessary, it is very important to adopt a SMART guide to entrepreneurship especially as undergraduates. S.M.A.R.T is an acronym often used to power goal setting for accountable accomplishments. It is used to point out how

  • Specific

  • Measurable

  • Achievable

  • Realistic and

  • Time bound your entrepreneurial prospects should be.

Below are a few guides to help undergraduates in their entrepreneurship goals

Save

One of the earliest moves of being financially independent is to save. Some have to work to earn some money they can save but as undergraduates,  you could save from your upkeep wallet. If you can save atleast 1/10 of your upkeep or more, please do.

Register for a skill acquisition and development session

 Now that you have made up your mind, you could start a skill acquisition session with an establishment of your choicest interest. You have to invest in yourself; so do not hesitate to take from your savings  if you’re required to pay for it as long as its worth it.

Done training? Its time to sow

After you’re done with training, it’s a good time to start investing in your skills set with your savings. Get the easiest and affordable resources you need to start with. Do not wait till everything is complete else, you may never start at all.

Consider support institutions and location

Its a good thing if the entrepreneurial skill you have acquired has zero location tolerance but if it does, it means you have to consider positioning your business in a location where people have need it. Be sure to consider other support institutions that can complement and make your business thrive faster.

Leverage your strengths and outsource your weakness

Somewhere along the line, you may need extra expertise to improve customer services. If you are not knowledgeable about them, do well to outsource. Meanwhile build on your skill strengths and prepare for the best.

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