College student entrepreneurship is an opportunity, but there are also many risks involved. Whether college students possess risk awareness and the ability to avoid risks will directly affect the success or failure of their entrepreneurial ventures. By summarizing the entrepreneurial experiences of those around them, there are five major risks that college students should avoid during the process of starting a business.
Risk One: Blind Project Selection
Currently, college students tend to focus their entrepreneurial projects in high-tech fields and intellectual service sectors, such as software development, network services, tutoring agencies, design studios, etc. Additionally, fast food and retail chain franchises are also favored startup options among college students. However, college students often lack market knowledge and mostly rely on their personal interests and imagination to decide on investment directions.
Suggestion: College student entrepreneurs must conduct thorough market research in the early stages of their ventures. They can also entrust professional organizations to carry out feasibility studies, thereby gaining a better understanding of the market before starting their business. Generally speaking, college student entrepreneurs have limited financial resources, so it's advisable to choose projects that require minimal startup capital and do not demand extensive staffing requirements.