Business Ideas

How to Build a Successful Startup on a College Budget

If you want to build up your own company, do it now. There is no right time to start. If you are not going for what you genuinely desire, you’ll end up regretting the chances you didn’t take and opportunities you didn’t see.

Entrepreneur Kevin Systrom once said, “If you’ve got an idea, start today. There’s no better time than now to get going.  That doesn’t mean quit your job and jump into your idea 100% from day one, but there’s always small progress that can be made to start the movement.”

Launching a successful start-up while in college can be challenging, time-taking, and exhausting. Think twice about your intentions and analyze the reasons you want to open up your own business. If your motivation is strong enough, then don’t wait any longer. Start researching it and begin now. Here you can find some quick, useful advice.

  1. Find Your Priorities

The number one step you should take is to prioritize. In school, our endless assignments and weekly tests can overload our schedule; at the end of the day, we find ourselves tired and willing to do nothing but watch Netflix and relax. Don’t let this habit of doing-nothing stick to your routine. After studying, take time to think about yourself and your priorities. Ask –

  • Why do I want to start a business while in college?
  • Is my idea good enough to succeed?
  • Will I bring anything valuable to the school itself?
  • Does my course load help my future career?
  • Would I be suitable for doing business?

Be honest with yourself when answering the above questions. If you’re not, who will? Make sure you know what comes first. Analyze yourself thoroughly.

  1. Choose the Right Academic Path

Majoring in Environmental Studies when wanting to become an entrepreneur might interfere with your performance. Your courses should be in alignment with your long-time plans. If you’ve indeed decided to open up a business, then take the right academic path. Choose a major that fits your interests, such as Economics, Finance, International Business, International Relations, etc. It will offer you a wider range of options to combine the two puzzle pieces.

Tip – pursue an internship! Choose a company whose values and goals are similar to yours!

  1. Make Use of School Resources

You or your parents might have taken considerable loans to pay for your school’s tuition. So, make use of every free resource on campus! You can use copying and printing services for your marketing campaign, free Wi-Fi, read online journals and books, or borrow material from the library. You have these resources at your disposal, so take advantage!

  1. Network Both Online and Offline

Networking is a vital part of building up your own business. In the end, vendors sell to buyers, while buyers purchase from vendors. It is an interdependent relationship – people need people.

So, connect with every single person you can, no matter their status. Talk to your professors, colleagues, coaches, HR representatives – anyone you find interesting. Expose them your idea and listen to their feedback. Every piece of information is essential.

Check out these options for promoting and earning through affiliate networks.

  1. Be Active

Ask questions all the time! Don’t be shy. You are a valuable student and person. Make sure the others know it. Ask business-minded questions in class and chat with your professors afterward. Ask other students,

  • “how would you feel if you used this type of service?”
  • “would you spend money on this, that, or that?”
  • “would you improve anything in my strategy?”

Keep the door open to anyone who wants to help you out. Be active and expand your knowledge by being curious. You should write down the answers and consider them later to get the most out of it.

When looking for ideas to start your business, take a look at Case Escape. This company provides ways for people to start their own phone case businesses for as little as $3,400. They are accustomed to working with first time entrepreneurs and have all of the training and resources necessary to get your business off the ground and successful. Better yet, they focus on individuals looking for a side business, so you can pursue your education and have a revenue stream on the side.

  1. Fundraise

Travis Scott, fundraiser at EssayOnTime, shares some excellent advice with us. “Fundraising events can bring you serious money that you can later invest, raise your brand’s awareness, and increase the loyalty of your customers. Creating a fundraising campaign should be a top priority,” ends Scott.

There are many ways to fundraise while in college. For example, you could hold a block party and ask students for an entrance fee or hold a craft fair on campus and ask for donations. All you need is a product or service to sell and a target audience.

  1. Create Goals and Map Out a Schedule

Now that you’ve prioritized tasks, decided on your academic path, and even fundraised, it’s time to set business goals and map out a schedule. It’s normal to feel overwhelmed, but when this feeling takes over every single day, it becomes a problem. Creating a checklist and a structured schedule will help you stay on track.

Split up goals into different time blocks and write them down in your calendar. Track your progress by always checking where you stand. Be mindful about your decisions and don’t forget to consider them twice before saying yes.

  1. Say No to Distractions

If you lack focus, you lack profits. Being a good entrepreneur means understanding your boundaries and learning how to decline tempting offers. Make a routine and include fun days into your schedule. Respect your timetable by saying no when the time comes. For instance, if your friends ask you to go out for drinks when you’re supposed to work on your project, politely decline. You can always reschedule.

  1. Find a Mentor

Last but not least, finding a mentor is an excellent way to climb the success ladder. Ask your business professors if they can guide you through the process, maybe introduce you to some local business development offices. Tutors are more than happy to help interested, excited students. In the end, school prepares you for the real world; if you’re already there while in college, that is quite admirable.

Reminder: don’t forget to connect as much as you can, whenever you can.

Wrapping It Up

A filled-up schedule can make you feel like a walking robot. Mixing school with business is a perfect opportunity to evolve, but don’t forget to balance activities. When you are too stressed, take a full day for yourself and just relax. Combine hard work with pleasure, and everything will slowly move forward. Good luck, you are definitely on the right path!

Jacob Dillon is a professional writer and distinctive journalist from Sydney. Being passionate about what he does, Jacob likes to discuss stirring events as well as express his opinion about technological advancements and evolution of society. Find Jacob on Twitter and Facebook.

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