How to Balance University & Entrepreneurship
Gaining experience as an entrepreneur while you’re still at university is a great option if you’re hoping to run your own business after you graduate. Plus, it will give you more money to spend and help you start paying off your student loans. However, it’s crucial to strike a balance between your studies and your business to make sure you succeed with both and to prevent burnout — here’s how.
1. Decide on Your Priorities
Every one of your goals and responsibilities may seem important, but it’s not possible for all of them to take top priority. Ranking your priorities in advance will help you figure out what to do when two things are competing for your time or when you have clashes in your schedule.2. Set Goals
Specify long-term goals and short-term targets for both your business and university commitments. The short-term targets should relate to your long-term goals, as this will help you check if you’re on track or if you need to make changes. Fit these targets into an action plan that includes a detailed daily schedule along with activities to complete each week to ensure you keep progressing.3. Make Time for Yourself
It’s easy for school and work to take over your entire life — but this is unhealthy and could ultimately lead to you failing both. Leave enough time for hobbies, socializing, and extracurriculars. Plus, make sure to include exercise in your daily routine. This is especially important if your business involves sitting for long periods. When you take care of your body and mind, you’ll be in a much better position to do well academically and build a business that can thrive.4. Create a Home Office
Dedicate an area of your apartment to be your home office. Choose somewhere quiet where you can focus and use an actual desk rather than your couch or bed. Keep the area organized, tidy, and equipped with everything you need, such as your laptop, pens, pencils, sticky notes, and a white board. Make sure there is sufficient lighting for working after dark, especially if you’re writing in notebooks or reading textbooks.5. Take Advantage of Student Discounts and Resources
Use the discounts and resources available to you as a student for more than just schoolwork. For example, you may be able to access online journals that provide useful information for your business or purchase software at a discount. Your university may also have connections in the business world to connect you with a mentor or advisor. Lastly, other students may be interested in forming a partnership or working for you.6. Avoid All-Nighters
No matter if you’re panicking about a fast-approaching due date or you want to push through and finish something for your business, it’s never a good idea to stay up all night. A lack of sleep will make it much more difficult to focus, lead to poor decision-making, and increase your risk of illness. If you’re struggling to keep up with your workload, reorganize your schedule, consider if there’s something you could drop, or outsource some of your business tasks.7. Link Your Schoolwork and Business Venture
Whenever possible, choose classes that will teach you useful skills for running your business. Better still, use your own business as a case study in assignments — this will cut your workload in half.To run a business from home, you need to find a comfortable room for rent. Kingston students who live at Foundry Mack receive their own rooms in a large suite along with amenities like pure fibre internet, a washer and dryer, and access to Foundry Club. Join our waitlist to be the first to hear when spaces come available.
