Business professor shares tips for aspiring entrepreneurs
By Ryan Lyesiuk
Observer Contributor
Many students dream of becoming entrepreneurs someday, but for numerous reasons they choose not to follow this dream. Whether it’s from fear or lack of confidence, the decision not to follow your passion and become an entrepreneur is a mistake students make, according to Nicholas Cochrane, Assistant Professor of Business and Management.
There are many excellent benefits to being an entrepreneur, according to Cochrane. “It’s great to be your own boss,” and “It allows you to create your own schedule,” he said. Cochrane says building your own schedule is an enormous benefit to working for yourself, especially as a busy college student.
Cochrane says that unfortunately there are some risks to being an entrepreneur as well. There’s “the possibility of losing money; after all, nobody likes to lose their hard-earned money from one job while pursuing a dream in another.” Cochrane says this may be the number one reason individuals choose not to become entrepreneurs. Financially speaking, the upside of owning your own business is enormous, but the downside can be difficult to handle as well.
“Being willing to fail, at least in the first attempt, is something aspiring entrepreneurs at MWCC need to prepare for,” said Cochrane. “Most don’t succeed, at least in the start. Sometimes a little luck is needed to get established.”
Cochrane added that hard work and persistence are important in any career, but for an aspiring entrepreneur, they are a must.
For students contemplating becoming entrepreneurs while pursuing their associates degrees, a few things need to be considered first, according to Cochrane. Joining clubs, making friends, working with your professors, and networking on and off campus will assist in your success as an entrepreneur.
“It is essential to receive as much education from school and beyond as possible. This learning experience will make a significant difference in the overall success in your endeavor,” Cochrane said.
Cochrane also says that if you have the qualities to become an entrepreneur, including passion, motivation, the ability to challenge yourself, and the willingness to take risks, then owning your own business may be in your future.
If you have a hard time accepting failure, taking risks, being a leader, and risking your finances, then maybe becoming an entrepreneur isn’t the right fit for you.
Professor Cochrane, who joined MWCC faculty in the fall of 2019, brings a supply of experience with him. His experience includes teaching Organizational Behavior and Leadership at the University of Massachusetts, and the Robert J. Manning School of Business in Lowell. Cochrane received his Master’s in Business Administration with concentrations in Management and Marketing from the University of Massachusetts Lowell. His past business roles include Director of Operations, General Manager, and Human Resources Supervisor. He has worked with Fortune 500 companies, family-owned businesses, union environments, and as a successful entrepreneur.
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