Essentials Before Start-up – 2139期

Today, more and more young people are turning their backs on following rigid corporate rules. Instead, they choose to run their own start-ups. To start a business requires basic knowledge and certain skills about entrepreneurship, and a great way to begin with is to start early in college.

“When running a start-up, you take on risks. So I always have students simulate real-world business project in detail, including how to raise fund, how to write a financial statement, and how to find necessary equipment,” said Mei-ya Wang(王美雅), Assistant Professor of the Department of Business Administration. In her course, students are required to interview entrepreneurs, who will share their business success and failures. This allows students to have a clearer picture of what entrepreneurship could be like: it is not as simple as students might have thought. Although they are not always the glamorous success stories—or even discouraging sometimes, Wang believes that they are important lessons for students who really want to run their own start-ups.

Many students want to start their own companies because they think it not only combines work with personal interest but also allows more free time in their life. Wang suggests two tips for graduates fresh out of college. Firstly, if you really want to run a start-up, start by joining a franchise. The franchiser(加盟主)will offer their experience, equipment, resource and so on, so that risks are lower for franchisees. Secondly, work for established companies in the industry before starting your own business. By doing so, you get the opportunity to establish personal net work as well as the acquired knowledge and information about the industry.

There is another class about start-up and innovation in Shih Hsin University. Leon Wu(吳文俊), lecture of the course, studied innovation program in the USA. From his observation, innovation is what differentiates success and failure when it comes to start-ups. Wu designed the course in a way to help his students better understand the preparation before actually starting a business. “I ask students to join start-up competitions. It’s a good way to gain pragmatic experience. Contest judges would usually provide useful advices about start-up projects for students,” Wu said.

Wu also emphasized that students should think out of the box. It is important to think innovatively and creatively. To encourage entrepreneurship, our government now provides start-ups with not only funds but also techniques and skills. On the other hand, Wu also asks his students to observe an enterprise and discuss why the firm has the ability to make profits in. This way, and students will realize setting up a business is not easy. “My advice is that the newly graduates should not consider starting a business as their first choice unless they have enough capital. They should work in corporations for a while before starting a business,” Wu said. Start-ups are more likely to work if their runners have corporate working experience, personal networks and so on. After all, what underlies attractive successful entrepreneurship is risk, and it would be better for starters to take every step cautiously. Think carefully before beginning the start-up, and be faithful to your decision.