Challenge of the College Students in their First Time Entrepreneurs

Although these business ventures might at long last be very successful in the future, for instance Google & Microsoft were both  established by students, they experience certain challenges in their business plans and capital increasing processes. The first challenge is overcoming the deficiency of experience of the management team. This business problem is always the case for new graduate students on their first entrepreneur, this also common itself to many entrepreneurs men, especially those who are launching their first business ventures.

To face this challenge. These business ventures must comprise themselves as delivering a great team by appealing the management team or advisors. By appealing a caliber management team, even if the team won't start until after funding, it gives prospect business investors to trust that the plan will be the right way accomplished. It also shows that the entrepreneurs have the ability to sell product or services others on their sight. The  team need not be complete before seeking fund, because further members of the team will most expectedly be added after expanding the capital. For example, when Google Inc. increased their capital from Sequoia Capital and Kleiner Perkins Caufield & Byers, Omid Kordestani left the Netscape company to accept a new position as VP of business development and sales, and Urs Hölzle was employed as away from UC Santa Barbara as VP of engineering.

Appealing superior consultants creates a great believability since if respected individuals are willing to gamble their reputes by accepting an consultive position, the business venture must have some virtue. Consultants can also help with the operating of the business and some of the times will also provide the needed funds. In case of Google Inc., when no major portal was concerned in  financial support the company, Larry Page and Sergey Brin were able to win over Andy Bechtolsheim, the other founders of Sun Microsystems, to turn an advisor and investor. Bechtolsheim fund  the initial $100,000 to the company.

Even if the business venture is able to appeal caliber management teams and advisors. It is always be at a disfavor versus other business ventures guided by entrepreneurs who have more experience and  successfully in the past. To correct for this, these business ventures must genuinely acknowledge their customers, market knowledge and competition knowledge. By having an in depth knowledge of the external components that will bring about the success of the company, the enterprisers can both make a satisfying business scheme and win over investors that an chance genuinely exists. If the chance truly survives, then business investors acknowledge that even if the venture is at the start mishandled, and then they can employ supplemental managers after to put it back on path.

In compact. When students at their first time entrepreneurs, start developing their business schemes and plans. They must counterbalance for the management insufficiencies they possess against experienced entrepreneurs. By coiffing this and expressing a comprehensive knowledge of their market, these business ventures can level the fund raising playing field. Luckily, these business ventures can aim to a long list of additional successful companies which were launched by  first timer entrepreneurs.