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The Insider’s Guide to Student Entrepreneurship

Published on August 31, 2022

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The Insider’s Guide to Student Entrepreneurship

The idea of entrepreneurship among students has been increasingly common nowadays. Whether it’s for honing their future skills or financial security, one thing’s for sure: learning the fundamentals of entrepreneurship as early as now will help enhance their critical and analytical, time management, communication, leadership, negotiation, and collaboration skills. 

Studies show that some employers still think students aren’t prepared for a job, no matter how well they do in school. Companies demand critical thinking, emotional intelligence, problem-solving, and cultural agility—attributes that are impossible to teach in a classroom. 

However, among these benefits, student entrepreneurship also comes with disadvantages. Students will juggle academics and managing a business, which could lead to a decline in the quality of their work. 

So to help you get a better understanding of this approach, here’s an insider’s guide to student entrepreneurship.

Why Is Learning Entrepreneurship Important for Students

Students aspire to run their businesses mainly because of the autonomy and financial security that comes with it. They may launch a startup that can lead to a career that generates income and can help pay for their expenses. 

At the same time, some students seek the vocational flexibility it offers, hoping to fortify their skills for the future. The need for startups is increasing in the community, and learning entrepreneurship for students will help them innovate, lead, collaborate, and persevere. It will also improve their pricing strategies, employee management, and negotiation

Lastly, learning student entrepreneurship paves the way for them to pursue their passion. Many students already see themselves as managing their own business in the future, but they don’t have the avenue to explore their skills in the traditional classroom. With student entrepreneurship, they will be able to take on the path more excitingly and refreshingly. 

Still, even if you don’t intend to pursue a career in business, student entrepreneurship will help you develop the skills you need for your chosen career

Advantages

We should consider that the advantages of entrepreneurial studies benefit anyone from any background. Here are some of them:

Collaboration

Since entrepreneurial students frequently collaborate in groups, they share responsibility and develop active listening skills. They also often have the chance to prepare and deliver intelligent presentations. As a result, they learn how to effectively communicate in all facets of life and across all professions.

Entrepreneurship is crucial for students as they prepare for life and the workforce. And students in entrepreneurship programs acquire respect, empathy, camaraderie, and trust as they refine their communication skills and work together, preparing them for leadership as they enter adulthood.

Adaptive to New Technologies

The young entrepreneurs of the future must be able to easily traverse a technological culture, given how quickly our environment is changing. Students should enroll in STEM classes that teach them how to create prototypes, write code, and design user interfaces. Since entrepreneurs frequently imagine goods or services that do not yet exist, acquiring these technologically sophisticated skills in high school might provide them a considerable advantage over their counterparts in the workforce.

Persistence

Students should take entrepreneurship courses for various reasons, perhaps most importantly because they help students cultivate grit. This quality is necessary for everyone to thrive in life.

Persistence, enthusiasm, and resilience make up grit. It’s the drive to accomplish long-term objectives, the confidence to try again in the face of failure, and the determination to improve.

Successful business people know how challenging life can be, but they also realize that careful planning, taking calculated risks, and working hard can result in discoveries that change a company’s course. Problems might derail some people but can also give others a sense of resolve.

Disadvantages

Starting a business while trying to keep up with academics can be difficult. Each of these circumstances is hard on its own. When combined, the pressure can be tremendous.

Additionally, they might not be able to function at their peak levels on the job or in the classroom. The quality of their job may suffer as a result of juggling so much. If so, that could hurt their business and college reputation, possibly failing on one or both fronts.

Sometimes juggling academics and entrepreneurship leaves little, if any, time for anything else. Students may stop participating in extracurricular activities, clubs, or other forms of social interaction.

However, this is surpassable if approached in the right way. 

4 Ways To Be A Successful Student Entrepreneur

Let The Idea Flow Naturally

It shouldn’t be a student’s ambition to start their own business that drives them in that direction. Forcing an innovation or an idea rarely produces good outcomes.

Instead, stumbling onto a typical issue and coming up with a workable solution is frequently the route to growing their business. It is known as having a “light bulb” moment. As a result, students shouldn’t pursue entrepreneurship for its purpose because it’s frequently preferable to wait for inspiration to come to them.

Don’t Overlook The Pre-Requisites

The idea of launching a business can be exhilarating that students may overlook certain essential things that come with it. To avoid this, your students must have a written plan to understand their goals, how their product or service fits into the market, and what it will take to launch it.

A straightforward company plan is typically an excellent place to start. It aids them in evaluating the viability of their business and provides a mechanism for them to arrange their thoughts. The latter might be a crucial stage because it enables them to determine whether the goods or service could be profitable before expending excessive amounts of time, effort, or money.

Moreover, it is also vital to arrange licenses and permits beforehand. It ensures that their business follows all the guidelines correctly to avoid shutdowns in the future.

Prepare for Taxes

Taxes are another area of paperwork that students must manage. Many times, companies need their tax ID. At the federal level, they require an EIN. Students should check with their local small business office for details on state taxes because the regulations may change.

Embrace Learning Opportunities

Entrepreneurship among students is educational. In an ideal world, students would explore subjects that could help their businesses, welcome criticism from diverse sources, and use trial and error to determine the best courses of action. If a mistake occurs, learning from it could also be advantageous because it might help them decide which way to go the next time or prevent making the same mistake.

In the end, being entrepreneurial typically requires having a learning attitude. Your learner will get the most from the project in this manner.

Conclusion

Being an entrepreneur is one thing. But being a student and an entrepreneur is another. It usually takes long hours and plenty of rejections (both academically and professionally) before getting that success you have been aiming for for the longest time. But learning student entrepreneurship can walk you through every aspect and may help you develop every skill you need—from critical thinking and analytical skills to collaboration and negotiation. All it takes is to do it in the right approach, and everything else will follow.

But remember, you are still a student. It is still essential to take a break and approach everything in a slow-and-steady phase to maintain balance in your academics and professional life.

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My Experience of the Business of Sports 101 Program

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My Experience of the Business of Sports 101 Program

First and foremost, I identify as a Virat Kohli fan.

What intrigued me the most about the Business of Sports 101 program, a BRE experience which promised to explore the intersections between sports and entrepreneurship, was the chance to learn what makes Virat Kohli’s brand so effective. Having been an avid fan of the Indian batsman since his pre-captaincy years, watching his brand arc from a mouthy, aggressive young cricketer to a fiery, disciplined captain has been nothing short of an odyssey. Hence, while sitting down for this program, I was extremely excited to understand what makes his brand work and resonate with fans in the world’s largest cricket-loving nation.

What is the Business of Sports 101 program?

The Business of Sports 101 program is a Big Red Education experience which brings together business and sport. Conducted by mentors from the team of Rajasthan Royals and Deakin University, the program throws light on the strings which keep the sports industry running smoothly; and over a period of two weeks, the course gives its participants the ins and outs of sports marketing, sports science, finance, management, and sports media while connecting them to the best athletes, managers, and administrators in the business.

Across the program, participants explored different fields of sport business from sport management, sport organization, marketing, broadcasting, sport development, sport science through sport coaching. Each day, industry experts from across the sport business spectrum led the discussions, lending their personal experiences and trade secrets to the young sport entrepreneurs. They explored these varied careers through academic discussions in which they taught the students the foundations of their field, and answered any questions they had. Bringing an international perspective to the table, these globally acclaimed mentors studied these fields through both an Indian and global perspective; making the discussions more accessible and useful for the students.

The mentors also did not shy away from rallying along with students’ choice of sports, players, and topics of interest and exploring their fields through those points of access — for instance, during the session on Sport Analytics and Athlete Performance, the mentor, Dr Dan Dwyer, explained the difficulties athletes face while training under high pressure situations like huge crowds by introducing the example of student performance in school events, and how stressful it almost always is to deliver your best when a huge group of people—in this case, your parents, teachers, and friends—are expecting so much from you. Similarly, Dr Dwyer emphasized, it can often be stressful for players too to train and perform under huge stressors like a tournament semi-final, a huge crowd of fans, etc. These kinds of relatable examples across the program significantly enhanced the sessions’ impact, and left positive, long lasting impressions.

The students were also given the opportunity across the sessions to spend time with each other in groups and work through adjacent problem questions. Across the program, students ideated about varied issues, and designed possible solutions. As a part of the session on Sport Organization, conducted by Dr Steve Swanson and Pamm Phillips, they pooled their ideas to build an optimal sport organizational model which could be implemented in India. Different groups chose different sports, and tried to unknot logistical issues like cities, players, stakeholders, etc. Similarly, as a part of the session on Sport Marketing, conducted by Zameer Kochar, the Chief Marketing Officer at Rajasthan Royals, students were encouraged to ideate about different social media campaigns the Rajasthan Royals team can possibly execute to improve its brand.

Besides potential sports entrepreneurs, the mentors also interacted with the students like fans. They offered them both exciting sneak peeks into the behind-the-scenes of their favorite teams and players, and a better understanding of the role fans play in building and maintaining sports brands. Different mentors explored the fans’ positions from different perspectives like sport marketing, sport coaching, etc.; such that by the end of the program, students had a comprehensive idea of the importance of sport fans. By treating students as fans, the mentors were also able to more effectively build a bridge with them and bond over the primary reason why we were all present there – our passion for sports.

21st Century Skills: Colleges, Internships, & more!

By the end of the program, students felt capable of dipping their toes into the sport business industry through different avenues like university courses and internships. A Grade 9 student from Oberoi International School (OGC Campus), Daivik Mathur, said, “Big Red Education’s workshop provided me insight on the different requirements, skills, and strategies required to excel in the field of sport management.” 

Another young student, Diya Piramal, currently studying in Grade 11 at Dhirubhai Ambani International School attested, “The Business of Sports 101 course was extremely informative, enjoyable and interesting. The sessions were held by various field professionals who were able to guide us through their own experiences.” Students across the board found the Business of Sports 101 program to be an extremely exciting and useful stepping stone in their educational and professional journeys for the first-hand sports business experience they were offered and the exclusive networks to which they have now been granted access. 

At the end of these two fruitful weeks, the participants smoothly transitioned into working on their promised live projects with the Rajasthan Royals team. All the students were divided into three (3) groups; each group working on a different problem statement: 

  1. How can Rajasthan Royals increase its merchandise revenue?
  2. How can we increase Rajasthan Royals app usage during the off-season?
  3. How can we create a new anthem for Rajasthan Royals which resonated with our players, Fan base and the state of Rajasthan?

It is an extremely exciting opportunity for anyone to work on live projects with the team of the IPL giant Rajasthan Royals; but especially for sports enthusiasts like these young students, it is truly one of the most exciting moments of their lives. Over the period of these projects, students have soaked up immeasurable knowledge and future-ready skills from industry experts. The sheer impact of this opportunity on their professional futures cannot be overstated. 

Big Red Education’s Business of Sports 101 program effectively introduced students to the range of careers they can choose to pursue in the sports industry, and also offered them tips on the different resources they can utilize to carve their paths. With sessions from varied mentors and frequent guest lectures from university students themselves, currently studying Sport Business at Deakin University, the BOS 101 program provided its participants with a gamut of knowledge about the sports industry.

Virat Kohli, and my love for Sports

As for me, I sat down into this program with one question: What makes Virat Kohli’s brand successful? After these two, too short weeks, I am pleased to write that I can now at least attempt to answer this question. What makes Kohli’s brand so successful is an unimaginably grand plethora of notions and intersections like his image of the aggressive boy from Delhi who wears his heart on his sleeve, to his emphasis on fitness and discipline, to his bonding and mutual respectful relationships with international giants like AB de Villiers, to his meteoric rise from a young Sachin Tendulkar fan to a peer of the Man himself, to — many, many more factors. But, beyond all the strings that need to be pulled to showcase Captain Kohli, the inaccessible celebrity as Virat, the accessible young cricketer who fans adore; what primarily and foundationally matters and counts is performance. 

Beyond everything that all the young sport entrepreneurs learned at this program, what they principally understood was that player performance is paramount — everything else is secondary. Besides a chest full of trade secrets and sport stories then, what these students took away is this: a better understanding of the importance of perseverance and hard work, and a rejuvenated love for sports.

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“No Idea is a Vague Idea” – My Journey as an Ivy Early Entrepreneur

Published on August 1, 2022

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“No Idea is a Vague Idea” – My Journey as an Ivy Early Entrepreneur

By: Ananya Manchanda
Lotus Valley International School, Noida

Three apples changed the world. One that Steve Jobs built, one that Adam ate, and finally, one that fell on Newton’s head. All created enormous and rather ‘revolutionary’ impacts.  

Just like them, Ever since 10th grade, I was firm that through my entrepreneurial skills, I wanted to make an impact. But How? First step: ideate. As straightforward as it seemed, it wouldn’t be all wrong to picture me as some struggling, starving artist lounging in their bedroom, desperate for solutions. I needed a start for the successful business journey that I’d ambitiously pictured in my head. It was then that I discovered the IVY Early Entrepreneur Program. 

7 days, 10 teams, and 1 final pitch! To define it in three simple words: It’s worth it! Usually, summer programs and workshops focus on presentations and theoretical learnings, but IVY EE mentors concentrate on practical application. These seven days were a trip to real-life markets. From generic market research to designing actual prototypes, this program acted as a great power booster. The most challenging part of entrepreneurship [Ideation] was covered through fun activities. Kriti ma’am and Rishi sir helped me understand the thinking process in less than two hours. Mentors’ stubborn persuasion and vision of life and society reassembled mine. This again helped me to gain confidence. Learning from their experiences and inspirational stories pushed me out of my comfort zone and taught me how the real world works. Not every day does one get to speak to MIT board members, true scholars, qualified business coaches, or founders/CEOs of such vast and successful organizations worldwide. These mentors set great examples of how it takes resolution, responsibility, and desire to succeed. 

My team had to provide feasible solutions for budget-friendly travels. Humor me when I reveal this, but initially, we were worried about figuring out the fundamental problem when innumerable solutions pre-existed in the marketplace. However, through step-by-step training, we overcame one obstacle after another. From research about our field and services to brainstorming the funding for our startup to creating a whole new brand, it was delightful. I learned about finance and marketing and how to work in a team, respecting and following various theories and methods that each member had. Opposite to what I’d expected, we had dozens of fragmented ideas by day 4. Finally, during office hours, Kriti ma’am helped us incorporate our several incomplete ideas into one concluding solution for the final project day.

Ivy EE didn’t only tickle my imagination but also stimulated critical thinking and intellectual curiosity. One saying by Rishi sir that I’m always going to cherish is that “No idea is a vague idea.” This program taught me how one random thought could prove to be revolutionary. So, without further delay, this earlier struggling artist is now starting her journey with 10 new ideas, incredible experiences, great new motivation, and optimistic thinking. 

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101 Hacks to Become a Leader in High School

Published on July 28, 2022

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101 Hacks to Become a Leader in High School

Introduction

The notion of leadership has been extensively analyzed and examined, but a comprehensive way to define leadership skills has remained elusive. For me, leadership skills are oxymoronic as leaders have qualities while managers have the skills. Managers use their skills to direct the employees to a particular task, while leadership is a quality possessed by leaders for employees to get guidance for their work. There is no one leader in a firm, but obviously, there is a specific manager for a department in a firm. That’s where the distinct boundary line is penned. 

Everyone hunts for a leader over any other profession in today’s generation. This is because a leader is someone who attracts people to work, can complete a certain task without being bossy or overpowering the others, and have an approachable and inspiring personality, which people look upto. A leader is anyone who guides you to the right path and provides you with constant guidance to achieve what you aspire to. 

Fundamentals of Leadership!

What are the fundamentals of leadership? Well, it is exceptionally subjective to how one perceives leadership; however, by the thesaurus or something that I believe means leadership, it is communication, self-awareness, empowerment, adaptability and teamwork. To reiterate, a leader is someone who binds different people and groups to work collaboratively, for which one needs to understand the importance of working in a team and adapt to differences in culture etc.

1. Communication

To begin with, communication is essential as a leader is a person who guides everyone. If a message isn’t clear, the word that is spread across will lose meaning and impact the organization’s work culture. 

Moreover, being a leader means taking responsibility for not only yourself but the other team members in the organization. This is denotative of proper communication and information sharing between you and your employee so that customers are satisfied with the positive service. It is the most powerful suite of a leader, as good communication gains trust, aligns efforts in pursuing goals, and inspires positive change.

2. Self-awareness and empowerment

Secondly, self-awareness and empowerment are vital fundamentals of leadership. For being able to communicate effectively and the correct information, it is imperative to be aware of the information in depth so that it is easier to help the employee understand what you expect out of them.

Leadership requires people to bring incremental changes in the organization by motivating and empowering other employees to work towards a common goal, to achieve it faster and in quality. 

3. Teamwork and adaptability

Similarly, adaptability and teamwork are important factors that act as the base for a good leader possessing leadership qualities. If you can’t adapt to the culture in your organization, you are unlikely to understand how people believe in something, which leads to a conflict of interest amongst people. To be able to listen and adapt is what aligns the thoughts between two individuals. 

Furthermore, lone work leads to decremental productivity and lacking new ideas affecting the quality of work. One has to work in a team to achieve the best of their potential. For a team to work together, it is necessary to bind the team to work together and hear each member to move forward. The need to respect every individual and keep everyone satisfied is the responsibility of a leader who needs to possess the skills to make the team collaborate and work together. 

These are the fundamentals of leadership which I believe lay the foundation of the organization as a whole. 

The RUDIMENTS of a Good Leader!

What constitutes a good leader? Well, I question that myself. Is it specific skill sets or criteria that make you a good leader? Some leaderships have been characterized as good and used as challenges for others to emulate. This description, however, raises an obvious question: upon what criteria were these leaders described as good? These are the possible questions one often encounters when reading about good leadership. But indeed, there are possible characteristics necessary to be a good leader. The abbreviated term ‘RUDIMENTS’ stands for a leader’s characteristics.

  • Reliable; reachable: A person can only lead a team if their focus is relevant and seeks liable solutions. The individual soul should be reliable in assigning work, providing information and being punctual, without which decisions are affected and become inconsistent. Ask yourself if you want to reach out to those you help, to address any problems, solutions, etc.
  • Unique: While reliable and reachable, it is necessary to be exceptional simultaneously. If you are another individual from the herd, what is unique about you that makes you a leader? You can’t be a leader if your skill sets match the other 20 people in your classroom. Unique styles, qualifications and ways of working call out for a leader. 
  • Delve deeply into the problem: As a leader, it is of utmost importance to delve into the situation more profound for viable solutions. It’s essential to go well beyond the mere surface issues! Instead, a basic rule of leading should be to delve deeply consistently so you are prepared and able to make well-considered decisions!
  • Imaginative ideas: Creativity is critical for a leader. Question yourself: How will you assure you possess the quality imagination to propel your organization forward? How will you consistently evaluate your ideas’ quality and implement them?
  • Motivate: A leader motivates not just himself but his team, not through his motivational speeches or words but one’s actions. You must set an example if you want the others in your organization to work. 
  • Empathize: Being a leader means being empathetic toward other fellow employees. To set an example, you must be a good listener who understands people’s values and beliefs. 
  • Needs: True leadership must focus on and address the needs, concerns and priorities of those you serve and represent!
  • Timely; trends: Understand, recognize and determine which trends might be relevant and enhance the sustainability and potential of your group! Never resort to procrastination; instead, constantly proceed forward, make well-considered, timely decisions, and take meaningful action.
  • Strengthen; a sustainable system: One never becomes a natural leader if his efforts and attention do not consistently strengthen his organization! The goal must be to address current needs and challenges but focus on the best, the sustainable system you will perceive and conceive of, create, develop and implement!

Use RUDIMENTS to understand the rudiments of a leader to become one yourself. These basic principles are the foundation of possessing successful leadership skills

The ten golden rules for leadership!

While it is essential to set the foundation for a successful leader, it is also beneficial to understand the golden rules for leadership, which make it easier to succeed in life and achieve success. The ten golden rules of leadership include:

  1. Know yourself: it is essential to understand yourself before understanding others. Learning your strengths and weaknesses can help you approach information gathering more tactfully. Self-awareness is a prerequisite for effective leadership.
  2. The place you work at shows you as a person: Assuming power exposes the leader’s innermost thoughts and feelings. Can leaders effectively use their control if they have gone through a simple self-discovery process?
  3. Nurture community in your space: Many virtues can be fostered through the right kind of support, guidance, and incentives from leaders.
  4. Do not waste energy on things you cannot change: Be careful about wasting your time and resources attempting to change or influence things you can’t control.
  5. Always embrace the truth: Effective leaders should always assume the truth, encourage candid criticism throughout the organization, be skeptical of positive appraisals, and never let authority place a wedge between them and the facts.
  6. Let competition reveal talent: Nurture an environment that can use the forces of competition constructively, create a platform that releases the ingenuity and creativity of your employees in pursuing corporate goals and objectives, identify subordinates who use competition as a constructive force, steer away from subordinates who use competition as a destructive force.
  7. Live life by a higher code: Dedicate yourself to a higher standard of personal conduct; don’t harbor ill-will toward those who offend; be ready to assist those who are in need without asking something in return; remain calm in the face of crisis; dedicate yourself to principle without compromise; earn the trust, respect, and admiration of your subordinates through your character, not the authority conferred upon you by the corporate chart; turn authority into power.
  8. Constantly evaluate information with a critical eye: Don’t rely upon old premises, assertions, and theories. Develop a necessary mindset that accepts nothing at face value, certifies the credibility and usefulness of critical information, analyzes the context that produces vital information and the messengers who convey it, and never rushes to judgments.
  9. Never underestimate the power of personal integrity: Personal integrity is a critical asset for authentic leadership. Always set an honorable agenda, adhere to a code of professional conduct, never try to justify dishonesty and deceit, rather “fail with honor than win by cheating.”
  10. Character is destiny: True leadership is ultimately traceable to factors of character and personal integrity; much of what is called “destiny” lies in our hands, not in mysterious forces beyond our control.

These are the ten golden leadership rules that could help one become a successful leader if followed. These character-building tips are the most important thing as a leader. Leadership is a skill, an opportunity, that can be improvised upon by practice rather than theory. 

LEADERSHIP AS AN OPPORTUNITY

I believe that leadership is an opportunity. If one understands and unleashes the crux of it, they are meant to become successful leaders. However, if you cannot avail this opportunity, you are doomed. Some of the basic options that leaders get are:

1. The opportunity to help others 

Who all do you think a leader can help? Probably their team members, organization, and even customers. If you are a good leader, you can help your team members be more encouraged and work more effectively, which will help improve the organization’s workflow. 

You may have noticed that when a pebble is thrown in the pond, it creates concentric circles that keep expanding and enlarging as they ripple from their original point of contact. Similarly, a leader is like a pebble thrown in the pond, whose influence and impact keep enlarging as the organization grows.

2. The opportunity to expand their influence

It is a commonly said fact that good leaders often lead by example. The sentiment behind the sentence is correct, but it is incomplete. Every leader leads by example. A leader just needs to realize if they are setting the correct example that they want people to follow.

When you start to feel people are influenced by your behavior, body language, words etc., you feel satisfied as you set a positive influence in the work environment, which is necessary for a good workflow. 

3. The opportunity to bring changes to the world

Leaders set missions, visions and objectives to achieve their goals. If these outcomes are realistic and valuable, a leader has the opportunity to change the world for the better. No one can make a change without anyone initiating and leading from the front. 

You have the opportunity to be that person. Buckle up your shoes to start this journey. There is no age to become a leader. Get your hands on possessing leadership skills to become a leader! It is never too late to bring a change, be it in yourself or the world.

Conclusion

To conclude, leadership is a blend of art and science. Some leaders are born / pre-equipped better than others (nature), but intelligent training and development (nurture) can enhance virtually anyone’s leadership capability. Theories and models are used only to underpin “practice” in leadership and tangible world outcomes. 

Leadership has become essential in everything, be it college applications. Colleges look for students with excellent leadership skills in their schools. In college applications, you can demonstrate leadership in many ways other than just being a council member or becoming a founder of a newsletter, club, team etc. It can even be done through volunteering or community activism experiences. Doing this shows you as a leader and enhances your application, and makes it more holistic rather than confining it to academic achievements only. And these are the correct ways to improve your leadership skill. As mentioned above, leadership skills can only be developed by practicing them. If you take full advantage of the opportunities provided in school, you can excel quicker than your herd and gain a competitive edge over others. 

Lastly, it’s best to be you but also inherit these skills to reach greater heights. Every leader that exhibits leadership qualities is said to become much more successful than the rest! Look ahead and don’t be a part of the herd because you are born to stand out!

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Hack the Skill of Networking in High School!

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Hack the Skill of Networking in High School!

Networking can be difficult and time-consuming for most people. However, there is just no doubting the influence a strong professional network can have on your professional growth. If done correctly, networking would not only help you land a position you desire faster, but it will also offer you a competitive advantage throughout your life! That’s why networking is important for your progress and you must know the ins and outs to become great at networking. Let’s start with the basics!

Networking does not entail soliciting favors, attempting to sell, or communicating knowledge of any kind. It is purely about establishing connections and nurturing them in a way that is mutually beneficial for both parties. While you may think that networking is a very professional act, if you look closely, you can see its uses in everyday life activities  – ranging from getting your morning beverage to getting to your dream college! 

For instance, imagine you walk into the school canteen you visit every lunch break to get your favorite beverage and there is a huge line. Having known the barista on a greater level would mean you would not have to wait in line to get your beverage so you could rush to your class (the canteen barista would definitely pull some strings and set you up). Now coming to getting into your dream college. Having known alumni and attending the summer school for that dream college would facilitate connections with people that might be on the admissions committee and it would also give you first-hand knowledge of the school and its programs – making you a very good candidate!

The History of Networking

The rise of the industrial revolution in the 18th and 19th centuries brought with it the need for businesses to collaborate with and trust a broader range of people and other businesses. It wasn’t enough to cultivate a few partners and customers and then work with them for the rest of your life, as many simple artisans did.

Risk-sharing and resource bundling became more common in business as a way of ‘expanding the pie’ and increasing profit for all parties involved.

People needed to take a longer view and trust others more as they expanded their overseas trade. Investors had to put their faith in sea captains. Manufacturers had to have faith in their suppliers. In order to reduce transaction costs and increase competitive advantage, business partners needed to trust one another. Business also resulted in a significant increase in insurance, beginning with maritime protection and progressing to other business interests. To insure someone, you must trust them, and insurance agents can safely offer lower premiums to those they believe in.

Businesspeople in late-eighteenth-century Britain established capital and credit networks. The resulting increase in trust and decrease in transaction costs resulted in credit expansion and various forms of collective economic diversification, as well as an increased use of the joint-stock form of business organization. All of this could only have been possible on trust which is built by networking!

The interconnectedness of the industrial revolution has now expanded into the knowledge economy, where jobs are becoming more mobile and flexible. The internet has taken networking to a new and frenetic level, with people tweeting and posting multiple times per day. With cell phones and social networking, we can have an infinite number of ‘friends,’ but that still limits the number of people we can realistically know. This paired with the boom in the ‘startup culture’ has made networking even more important to stand out in the crowd!

The Essence of Networking!

Networking is not just about taking because you aim to create a situation that is collectively favorable for both you and the person you tend to form a connection with! A similar principle is followed by negotiating maestros as they share the same goal as good networkers. Master negotiators strive to create a win-win situation. This is the ‘ideal’ outcome as all the parties come to agree upon a resolution that encompasses some benefits for every party, if not all. This specific outcome is considered ideal because it fosters a positive relationship among all the parties that are concerned and benefits everybody! Your connection must feel that having this relationship would be fruitful for them as well (be it now or in the future).

Networking also covers the essence of the exchange of ideas. This benefit can be enjoyed both in your regular and professional life. Having a broad network would mean that you could get feedback from people which may have very different perspectives. This would broaden your knowledge spectrum and foster skills such as creative thinking. If you’re stuck on a project, brainstorming with someone in your network can assist you in getting things moving again. 

According to studies, up to two-thirds of jobs are never advertised and are filled solely through word of mouth. People can open doors to new opportunities for business, career progression, and personal fulfillment by expanding our network. This increases our visibility and increases our chances of meeting the correct individuals at the right time. New ideas almost always come from outside of our immediate circle. As a result, it all comes down to leveraging “the strength of our weak ties,” as sociology professor Mark Granovetter stated in his paper about the unique value of a person we don’t know well.

The Two Types of Networking

The act of networking in the professional setting is not very new. It was only around the late 1970s and early 1980s that the word took over the entire workforce. From the very beginning, the act was considered to have the main goal of benefitting one in business.

  1. “Social networking” is a more mild form of networking that people engage in when they are having difficulty making a connection. This frequently comes in the form of self-exposure in environments with a plentiful supply of people to potentially add to your network. People go to school, take classes, or participate in communal hobbies (going to the temple, church or mosque) and sporting activities. Others who are also involved in such activities are frequently looking for company. Interactions allow people to meet and get to know each other. Mutual attraction causes linkages to form. 
  2. Many saw “Business Networking”, at least in its early stages, as a valuable new discovery.  Business networking requires focused attention, maintaining records, and network cultivation, all of which take time and money. In small businesses, a business owner’s networking efforts often produce the best results. There are numerous other benefits to networking—of the many potential gains, knowledge sharing is the most beneficial. To reap the benefits of a network, you must first understand what business networking benefits you can obtain as a high schooler itself and the numerous opportunities that it opens up for you! In the end, these connections are very fruitful and have higher stakes (you would not want to lose any of them)! 

The Benefits of Being Good at Networking!

The benefits of networking are endless. By surrounding yourself with people who share a similar drive and ambition, you are more likely to move forward as a group. Here are five benefits of being good at networking!

  1. Sharing of Knowledge: Networking is an excellent way to share ideas and knowledge. Asking for feedback or discussing your point of view will help you expand your knowledge and see things from a different perspective.
    It’s also possible that within a community, there will be people who have been where you are now. This gives you the opportunity to learn from their mistakes and avoid them in the future.
  2. Opportunities: It is intuitive for networking to lead to opportunities. The only thing you won’t know is when or how they’ll appear. Whether it’s to get referrals for your college application or to get an internship, it’s critical to be ready to seize opportunities as they arise.
  3. Connections: Recognize that you are not only gaining exposure to the people in the room, but you are also connecting with their network. If you have made an impact on them and they have a need that matches your business, you will most likely get a recommendation.
    And keep in mind that it is not a one-way street. If someone in your network matches a college you meet at a college fair, don’t be afraid to share their contact information. It will only strengthen your bond.
  4. Better Confidence: Regular networking and forcing yourself to talk to people you don’t know will help you gain confidence. This is an important characteristic to have as a future business owner because the growth of your organization is dependent on talking to people and making connections.
  5. Profile Development: Being visible and noticeable is a significant advantage of networking. People will start to recognize you if you attend business and social events on a regular basis. By providing useful information or tips to those in need, you can help to build your reputation as a knowledgeable, reliable, and supportive individual. You will also get more leads and referrals because you will be the first person that comes to mind when they need what you offer.

Tips to Become Better!

Connecting with people in such a way that you can add value to their lives or businesses in exchange for them assisting you with your needs.

Here are a few networking tips to help you understand how to become a better networker!

  1. Consider making it all about the other person: Everyone’s favorite topic when you meet them at a function or a meeting is themselves. Make sure to keep the conversation focused on them and not on yourself.
    Making it all about the other person is a great way to ensure that this person finds you interesting, which will help you in the future. A great tip to use here is to say three strong words… “Tell me about.” “Tell me about yourself” is a great way to get people to speak regarding themselves.
  2. Remember to follow up: One of my favorite networking strategies. Whenever we meet someone we’d like to add to our network, we should make a point of finding them on social media or visiting their website, and emailing or messaging them. In the email or message, we should express how wonderful it was to meet them, thank them for their time, and let them know if they require any assistance. We strongly advise you to try this method. Make it all about them with no expectations of reciprocation.
  3. Make First Degree Networks First: If you’ve linked with someone by chance (that is, you did not intend to network), practice contacting that individual and having a discussion. To practice having conversations with people you don’t know very well, talk with people in your office you haven’t talked with much before. Networking does not always imply seeking out new relationships. Nourish the ones you already have and try to invest in them first.
  4. Be attentive at all times: Remember what someone tells you about his or her home life or something he or she finds interesting. These slight links come in handy when you meet with that person again or send an email after an event. The more personal your connection, the stronger it becomes.
  5. Focus on quality over quantity: Who you network with is far more important than how many people you speak with at an event. You should prioritize the quality of your connections over the quantity. As you do so, you’ll notice that you become a better networker because you’re able to focus on what matters.

Conclusion

Among the most obvious advantages of networking is that it accelerates your growth in school and beyond and improves your communication skills. Don’t limit yourself to traditional networking circles; having a good reputation with a diverse group of people will boost your likelihood of getting referrals and career opportunities. You never know who somebody can introduce you to or what you’d learn.

Take the time to discover the best networking strategy for you and concentrate on making it a pleasant experience. As a result, networking will become less of a chore and much more of a fun opportunity to grow. Trust us, you will not be sorry if you learn how to network effectively.

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