If you are in school or college, this can be life-changing for you.
4 exercises to understand the mindset of an entrepreneur & have practical exposure to real-world situations. +1 advice from me at the end.
I wish I knew these exercises earlier.
Exercise #1 - Buy and Sell
Example - buy a keyboard from eBay for 300 bucks now try to sell it with a profit.
Suppose you decide to set the selling price at 400 bucks, which gives you a profit margin of 100 bucks. So just try to sell it as close as 400 bucks you can.
Exercise #2 - Start a Students Club
Pick a niche or an activity that you are interested in & start a students club around it. Sell membership to students, create an audience, organize events, get someone from outside to have a guest session. Million other things you can do.
Exercise #3 - Ask for a 10% discount
Whenever you buy a coffee, or a sandwich, or anything, ask for a 10% discount. When you ask people to make an exception for you and give you a discount, you will end up in weirdly different situations all the time.
Chances are you will be shut down on your offer and maybe even thrown out of the café, so be ready for anything. But there's a slight possibility that you turn the situation & end with this 10% discount.
This will be rare but it will be legendary.
The goal here is not to get that 10% discount, definitely not. It is to get yourself trapped in a spot and then try your best to get out of it. If you end up with a discount, it will be like a cherry on the cake.
Exercise #4 - Join an Early Stage Startup
Startups have an innovative working culture, unlike large corporations, where even a simple decision can take time, startups act quickly. You'll do all sorts of things, even things that are out of your skills stack. With this exercise, you will surround yourself with people who are smarter than you and you get to learn and observe how they handle and operate in certain situations.
Now that you have read it till here, I'll tell you about that +1 advice from me.
"Help people with your time and skills"
When you help people with their thing using your skills, you not only give them your time and get things done for them, you also end up learning new things and enhancing your skills set. On top of it, you create a connection with a person and it makes your network strong. Help people without the expectation of getting help in return, do that for yourself.
We all know the importance of networking.
So how can you help other people?
In the end, I just want to say that find your way of doing things, start the way you feel like, do things your way.
Keep learning & evolving.
Entrepreneurship is a journey, live your way through it.
Read the whole blog to know about -
Let me know which exercise you like the most & what more I can add to this.