Putting theory into practice
Learnings from a graduate entrepreneur
Rushing to lectures, late nights in the library and submitting assignments minutes before the deadline. These experiences are all too common amongst last-minute students pushing the boundaries. For some, this scramble is a result of one-too-many beers the night before, but increasingly it is due to the workload students are shouldering. Specifically, the student entrepreneurs who roam these leafy campuses, juggling academia and business, are the ones to watch.
Why bother? Why create work for yourself? Focus on your studies!
These questions rattle inside their heads and are brought to life by many who judge them. Somewhere, an innate drive motivates these students to beat the odds. Maybe it’s a rebellion against the conformity of corporate life, an arrogant test of their ability or an opportunity to ‘get-rich-quick’.
Following the footsteps of the Stanford Snapchat Superstars — Evan Spiegel and Bobby Murphy — is a lofty aspiration. With a dizzying valuation of $16bn, the meteoric success of Snapchat is undeniable. The whiffs of inexperience are blown away by the tenacity, fearlessness and ingenuity of these visionary individuals. Many other high profile College/Uni start ups have you picturing the likes of Zuckerberg toiling in their bedrooms at the next big thing. Whilst some of them are college or university dropouts, many of them served their time in a business school. Which begs the question:
What are they teaching in business schools these days?
I have experienced first hand the ‘game’ that constitutes a Business Administration degree. One must play to their strengths, luckily I found my ‘calling’ in entrepreneurship, innovation and strategy. I won’t bore you with the theory (who really cares about the difference between a Kirznerian vs Schumpeterian opportunity). The theory only plays a small part in this process, igniting interest amongst students. The challenge is translating this into real-life!
The institutions that take this challenge are setting themselves apart as world leading business schools. They raise you to believe that you can accomplish anything that you set your mind to. Harnessing this enthusiasm, clubs and societies go about fostering a start-up mentality and raising the necessary resources to create something from nothing. Improving the structure and support of these organisations is essential for stimulating entrepreneurial flair.
The founding of Ordable is indicative of the assistance provided by the University of Bath. Networking events, contacts, clear progression, financing, mentorship, experience, facilities (the list goes on) are all exceptional reasons to start-up as a student. Deliberately left out of this list is the unique pool of talent available. Finding this talent is like fishing in a bucket. By tapping into this pool, I instantly found Ray and Ordable was spawned.
Ready for real-life yet?
Armed with some scraps of useful theory, a superb supporting network and sheer eagerness, we ventured out of the Uni microcosm. Whether our unique combination of resources, experience and ideas lead to commercial success remains to be seen. But if Uni has taught us anything, it’s that ambition and action are a powerful combination! (Aside from alcohol causes and solves problems).
The critics of young entrepreneurs have an arsenal of negative reasons at their disposal. Don’t get me wrong, there is a lot to be said for experience derived from years of hard graft and industry knowledge. But, as the youth start to master how to adapt, learn and evolve in new situations an army of new age workers is emerging. In this digital age of viral growth, disruptive technologies and hyper-dynamic industries, the individuals who can acclimatise to this new ecosystem will survive.
