CASE study on: COLLEGIATE ENTERPRENUER

Case study on: Collegiate Entrepreneur

Barrier that collegiate entrepreneurs face:

College is not just time for learning, playing and growing into adulthood it is also platform to run own business. Many of these collegiate entrepreneurs ideas come from their college experience but all the idea are not getting into the field of the business there are some barriers that college entrepreneur are not yet getting starting their own business.

• ·          Lack of communication and coordination with business executive and unable to analyze the business trend
• ·         Lack of the capacity to plan, communication, marketing, interpersonal, basic management, team building and leadership.
• ·         Lack of updated skill and unable to know what a market demand is. General lack of accurate and systematic data. We do not have an updated information about market.
• ·         Lack of practical knowledge. We going through number of books in collegiate entrepreneur but us rarely practice these principal in the field of the business.
• ·         The culture factor, people are not ready to believe on the youth. The older business man are not ready to believe on collegiate entrepreneur and they are not providing the support for them.
• ·         Running the business in the college life is very tough as the system of Nepal, we have to graduate in certain period, and there is a responsibility of passing the college with good grade. Focusing in the business may disturb in the study.
• ·         To establish the business we need a financial support and the collegiate entrepreneurs are not getting these. We are not able to run own business due to financial problem. What if the business is ruin out, there is no financial support behind and no more plan B.
• ·         Its take a long time to create value of products and it need more patient which don’t we have. Collegiate entrepreneur doesn’t have a sufficient amount of resources.
• ·         Collegiate entrepreneurs are not getting the mentoring and support environment.

 Advantage collegiate entrepreneur have when launching a business:

• As going through the case we read the three different types of business that a collegiate entrepreneur are started in their college life. They find out the problem what they are facing and to solve these problem they started own business.
• ·         As when the collegiate entrepreneur launch their own business, first they will get support from their college and friends. The college provide them the necessary support.
• ·         It helps to grow them in the practical field and them able to use their theoretical knowledge into practical. That will help to grow their own business.
• ·         Collegiate entrepreneur will able to make a good communication and coordination with other business and suppliers through the channel of the college.
• ·         Some of the college provide the financial support for their collegiate entrepreneur. So it will be advantage to college entrepreneurs.
• ·         The college help them by providing free consulting advice and helping them to make their business plan.
• ·         The collegiate entrepreneur are able to know the latest technology and using it they are able to run the business successfully with little risk and with little resources.
• ·         They attend different seminar and motivation program. There involve in continues training program on which they are able to update themselves in the real world. The college will help into the research to find out what the market demand and to establish the business the college will provide the necessary resources.

Advice to the collegiate student about to start a business.

• ·         Before starting up their own business, I like to suggest them to do internship on some business company that will help them to know the business process and what a market demand.
• ·         The collegiate entrepreneur must chose the business that is suit with their knowledge and what they are really interested.
• ·         Market research and customer demand survey should be done before starting the company.
• ·         The collegiate entrepreneur must execute their plan in real world and they have to make a solid business plan in order to minimize the risk and uncertainty.
• ·         They have to make a good communication with related business man. And they must attend the seminar and training program.
• ·         What they have in their mind just do it but before doing it they have to analyze what they have, how much the capital require, how much resources they have to meet the demand.
• So I advise the collegiate entrepreneur to do internship on interested business field to know more about that business. Who knows some day the collegiate entrepreneur may open same or more creativity business than it in future.

College activity to create a culture of entrepreneurship on my college

There are a lot of resource that college is providing to the entrepreneur and MBA student. But we are not able to take more advantage of it. College is supporting the collegiate entrepreneur in many ways.

• ·         The college established the Entrepreneur Development Center (EDC) in the college premises where interested student are allow to take an office to run their own business and we are doing brainstorming on there.
• ·         The college is providing the mentor to the desire student. The college is helping to build a networking with business man.
• ·         The college bring foreign entrepreneur and successful business man and professor to share their ideas and view. It’s a motivating factor to the entrepreneur and we can learn more from them.
• ·         There is separate course called entrepreneur where each student need to write their own business plan.
• ·         The college is providing the various service to the student. There is free wireless internet, separate conference room, computer facilities, and other needed services.
• ·         More important the college promised to provide Rs 5 lakh to the student who want to open the new business. The student need to submit the business plan and college will provide financial support.
• ·         The college is trying to establish entrepreneur culture in the college. They providing the support that collegiate entrepreneur need and acting as facilitator.