Developing Entrepreneurship Skills: How One Student Turned a Project into a Product
In order to become a successful entrepreneur it often first takes a great idea. Some ideas such as the super high speed transportation concept – the Hyperloop – are incredibly complex, while other such as the pet rock or the slinky leaves you asking yourself, “Why didn’t I think of that?”
And while the truth is that a business idea might hit you at any moment, by developing entrepreneurship skills you can prepare yourself to not only capture these ideas, but also capitalize on them.
Keep reading to learn how one entrepreneurship student is turning an insight from a class project into a new business.
Developing entrepreneurship skills beyond the classroom
The United States boasts more than 27 million small businesses, which leads us to conclude that the desire to own their own business is quite common among our fellow Americans. And considering more than 75 percent of owners started their business themselves, it begs the question how an aspiring entrepreneur gets started.
Rasmussen College student, Lisa Law believes that college is just the right place to begin building a business. “Going back to college is a great way to find new and interesting ideas for developing your own business,” Law says.
Law, who has always wanted to start her own business, had her entrepreneurship epiphany in an environmental general studies course in 2013. She came up with an idea to produce – or in this case grow – a new product through hydroponics, which is a method for growing plants using mineral nutrients in water rather than soil. Law first learned about the environmental solution through coursework.
“By the time I completed my research on how to grow more plants in less space and land, I had fallen into the hydroponics world,” Law says. “[I] discovered that I could produce my own hydroponic catnip in a small garden room, and create my own new product for market.”
So while these eureka moments may seem rare, they do happen and when they do it’s important to be prepared for the next steps.
“Research everything that interests you, especially the hobbies and then turn those ideas into the business that you can love and enjoy for a lifetime,” Law says. “I am taking my love for pets and plants and combining the two, which came together as a result of the environmental class.”
She is now in the process of trying to get the business up and running while working toward finishing her entrepreneurship degree in 2014. She is even considering starting a Kickstarter project – a company that provides a platform and tool for entrepreneurs to raise project funds – to help her crowd fund her business venture.
How you can take action
Every one of us has probably had a handful of great ideas that you imagined becoming a legitimate money-making business venture. But the difference between us and Law is that she saw an opportunity, seized it and is committed to developing it into a business, instead of letting it linger as just another idea.
For Law getting a solid college education is helping her achieve her dreams of success so that she can further develop her business goals. By taking what she has learned from coursework within the accelerated entrepreneurship degree program at Rasmussen College, she is benefiting from the academic and real-world experience she is gaining as she prepares to launch her own business.
For you, it’s important to remember that if you want to be your own boss, you’ve got to prepare yourself by learning how to make that happen.
By developing entrepreneurship skills through direct experience and or a college degree, you prepare yourself understand how to capture a new idea, improve your abilities to effectively manage the day-to-day operations of a business and maybe… even start one yourself.