Many kids and teens today have abandoned the lemonade stand and household chores, in favor of running their own businesses. As an entrepreneur who is the CEO of a company myself, I know that when young people have their own business or businesses to run that studies can fall by the wayside.  But teenagers who have their own businesses do not have to sacrifice their grades. What young entrepreneurs need to do is study smarter, not harder. Here are my top tips on how to be both a successful student and entrepreneur.

 

Time Management

Students today feel that there is never enough time in the day to finish their homework, study, and other tasks. However, more often than not, we do actually have the time to finish tasks. The secret to finding this time is to perform a time audit. A time audit is where you write down how you spend all your time and then analyze it to find wasted and free time. Once you have identified both you can use it to complete your academic work.

Plan Ahead

With both your studies and your business you need to plan ahead. One of the most effective ways to plan ahead is to look at your academic and work responsibilities in the short and long term. Write down your plans for the long term and then consider the short-term plans that are needed to achieve your long-term goals.  When you plan ahead you are more likely to use your time more effectively and achieve your academic and business goals.

Delegate

As a student and a business owner, even the best time management and planning skills might not be enough to fulfill your responsibilities. You might need to delegate work to others. As much as many students might wish they can delegate their school work, it’s the work of the business you’ll have to delegate to others. You should always have a list of service providers handy that can be called upon in a pinch, such as someone to keep up with your social media posts. Friends and family members can also be called on to help out with your business when you have too much studying to do.

Study Smarter, Not Harder

My best advice on how to do well in school while running a business is to study smarter, not harder. Studying smarter means starting your studies earlier in the semester and learning the information over time to retain it better. Learning in short chunks is also considered a smarter way to study because your brain processes information better this way.  In addition, studying smarter includes using the learning style that best matches your learning preferences