How do you prepare for GSEA ?

Young fresh minds are the perennial of thoughts which are always filled with new ideas and curiosity. They are fearless and always ready to do anything adventurous . And as said “What good is an idea if it remains an idea? Try. Experiment. Iterate. Fail. Try again. Change the world.”. And as a positive consequence we can see a lot of new young emerging entrepreneurs in the present time  . Who are not afraid of any risks and obstacles they need to face in their journey in establishing themselves. 

And by such a young group of Entrepreneurs there is an organization called Entrepreneurs Organization (EO) was established in 1987 which is a collection of like minded people.

The Entrepreneurs’ Organization (EO) is a Global business network of 14,000+ leading entrepreneurs in 198 chapters and 61 countries and their aim is to help the further emerging young Entrepreneurs to learn and grow.

The EO supports the students entrepreneur therefore it came up with an idea of helding a competition among the student entrepreneurs on a global level. Therefore they started GSEA i.e., GLOBAL STUDENT ENTREPRENEUR AWARD. 

WHAT IS GSEA? 

The Global Student Entrepreneur Awards (GSEA) is the premier global competition for students who own and operate a business while attending college or university. Nominees compete against their peers from around the world in a series of local and/or national competitions in hopes to qualify for GSEA Finals. Founded in 1998 by Saint Louis University, GSEA is now an Entrepreneurs’ Organization program.

The vision of helding  this competition is to shape and create these young Entrepreneurs in such a way that tomorrow they can become the influential change makers in the world.

The competition is held in various cities and countries globally.

Eligibility criteria for participating in GSEA

• You must be enrolled for the current academic year in a university/college as an undergraduate or graduate student at the time of application. Full-time enrollment is not required; part-time enrollment is acceptable.

• You must be the owner, founder or controlling shareholder of your company and principally responsible for its operation. Each company can be represented by only one owner/co-founder.

• Your business must have been in operation for at least six consecutive months prior to the application.

• Your business must have generated US $500 or received US $1000 in investments at the time of application.

• You should not have been one of the top seven finalists from any previous year’s GSEA Global Finals Competition.

• The age cap for participation is 30 years of age.

EO GSEA step by step :

1. Step One: Must be an undergraduate or graduate* college/university student with a company: operating for at least 6 months with at least $500 in generated revenue for applying for the competition. 

2. Step Two: You apply and compete in a local competition that is held within the state or the city you are in. 

3. Step Three :After winning the local competition you compete at national level and you have to win at national competition to for qualifying it for the next round

4. Step Four: You advance to the GSEA Finals with 50 of the world’s best student entrepreneurs.(Here you get the best experience and the best mentoring guides who help you get over your flaws) 

5. Step Five :Win the award, become the EO GSEA Student Champion and receive recognition and accolades

Judging criteria and how to prepare yourself for GSEA accordingly? 

As a matter of fact they judge you on 2 basis. 

Firstly they evaluate you as an entrepreneur and second they evaluate you business and one must be well prepared beforehand by keeping the points in mind before presenting themselves. 

EVALUATE THE ENTREPRENEUR 

Here the points mentioned on why they look for entrepreneurs and how to prepare yourself for the same. 

1. Does the student demonstrate the tenacious spirit needed to succeed as an entrepreneur? Has he/she encountered challenges, overcome them, and learned from mistakes?

Well keep a proper note regarding how you have been through these businesses and write down the challenges faced and how did you come up with the idea and was it easy for you to convince someone to fund and all the records of failures and achievements both. 

2. Is the student effectively integrating the two roles of life – as a student AND a business owner? 

They will definitely ask you how to maintain working and studying at the same or does it have any impact on either of them. 

3. Boldly Go – Is the student taking smart risks and evolving to meet changing circumstances?

Here they are looking for the daring side of yours that is ready to take risks to make your business grow or you fear failure. 

But as said “No pain, No gain” Therefore think on it beforehand if you can’t withstand change and fear it then GSEA is not for you. 

4. Thirst for Learning – Is the student seeking out expert advice and wisdom, and proactively growing their own knowledge? Are they naturally curious? Knowledge is something that is never completely gained and therefore you can never be perfect in whatever you do and here you get the chance to work and acknowledge the best entrepreneurs so you should actively participate , ask questions and listen to advice they give you that would help you shape your business in a better way. 

5. Make a Mark – Is the student innovating, planning for the future and distinguishing him/herself from the field? 6. Is he/she taking a long view rather than just quick wins? You should be well prepared on how you are going to further expand your business. These people can only guide you but it’s your work, your business and like a baby you have to think for the future and ahead of everyone else to make a big jump. 

6. Trust and Respect – Has the student demonstrated an appropriate degree of trust and respect in his/her interactions with the judges? Is he/she showing their true self, demonstrating vulnerability and openness? Would you find him/her trustworthy? Without Failures there is the joy of success is somewhat reduced and in the corporate world failures are common so you shouldn’t be afraid of them except to speak about them. Here the mentors and guides look for the leader in you who should trust his fellow mates and involve them in decision making . Therefore keep things transparent with them and maintain the calm. 

7. Cool – Does the student have a unique personal identity that he/she brings to the business? Is the business in alignment with his/her identity and values? Do they come across as confident and genuine? You should be behaved and well dressed and corporate sections have their own dressing rules keep in mind and being cool doesn’t mean that you behave informally with your officials but you should hold the charm and confidence and be intimidating enough to convince the other person. 

Evaluate the Business

1. Has the student demonstrated a knowledge of strong business fundamentals and shown that they are in practice in the business? Has he/she provided information relating to the growth, revenue and profit of the business?

You should have full knowledge of the business world not just about what you have started with but how it works all together in the corporate sector and you should submit all the data regarding your business with no adulteration. 

2. Has the student effectively communicated the business and its vision?before investing in any business one must look for all the odds and even. And here in GSEA by the structure and working of your business they can judge whether it was well communicated or not. 

And they also look for the key element that is the Vision behind the starting the business and as the vision of EO suggest that they look for the young Entrepreneur who could be the influential change makers in future and your business must reflect that you are capable of bringing a positive change

3. Does the business show strong potential for future growth?

Before starting a business think of whether it will grow in future and whatever the kind of product or service you are looking for will have clients in future or any innovation that you are further looking for. 

Failure or success doesn’t matter at the end what matters is your participation because if you win ,you win but if you don’t you won’t make you a failure as you get to be under the best guides who will point out your flaws. They will tell you the right way to do it. They may also insult you be rude to you criticize your work and ideas but learn to accept all of it in a positive manner and think learn to take all of it not to demoralize you but that is to make you come out of your shell and think out the box and you will come out as better person and as a better entrepreneur as stone can’t be sculptured into something beautiful and innovating without bearing the hammer. 

And remember “You will not be defined just by what you achieve but by how you survive”