Looking to start your own business? Have a dream or vision you want to pursue? Do not wait until after graduation to put your plans in motion. These tips will help guide you on your way to becoming a student entrepreneur.
1. Find something you are passionate about
Sit down for 20 minutes and brainstrom a list of everything you like to do. It can be silly, ridiculous and only half-interesting, but work on developing a comprehensive list of anything that brings you joy or happiness. Consolidate your list into a top few passions and figure out if there is anything you would want to pursue full time.
2. Brainstorm ideas for your start-up
Think about how you can incorporate your interests. Most innovative companies and successful start-ups differentiate themselves from the market with a special niche-combining interests is a great way to create specialisation. Make sure your idea is not too narrow, though. Then, consider the market. Is there room for your business? How are current companies within the same industry structured? How can you stand out?
3. Look for funding
Look into community-oriented sites, which allows visionaries to crowd fund money for their project or idea. One drawback is that for this particular site, it’s an all-or-nothing contribution — you either meet your funding goal entirely or lose out on the money people have pledged. But there are other sites that offer other options, of course.
Explore a local angel investor network. Most universities have connections to these types of resources and information can most likely be found on a university’s office of corporate relations site.
4. Check out university incubators
Often hosted through the university’s business school, student business incubators have many advantages. First, they offer free or cheap space to launch a business idea. Second, they usually have business experts available to work with you to develop a business plan. Third, it fosters a collaborative environment and allows you to work with other student entrepreneurs, often on your own campus.
5. Utilise local mentorship organisations
Many college towns have established professional start-up communities that house mentorship programs. These organisations exist simply to pair emerging entrepreneurs with recognised and respected mentors. This is a key step in ensuring longevity for your busienss that many student entrepreneurs overlook. Having a mentor is essential to a successful business launch and often can be the start of a lifelong friendship.
6. Promote your company
Be active on Facebook, Twitter, Instagram, YouTube, Google+, Pinterest and other social networking sites. Do not forget to start your own website, too. WordPress is a popular, inexpensive choice. Decide how you are going to advertise your company and put together a solid marketing plan. An overarching public relations strategy should include your marketing plan and your social media strategy. Also consider blogging, press releases and other media outreach to promote your brand and business.
7. Stay informed about the start-up community
Make sure you are reading industry news. Bookmark sites such as Entrepreneur Inc, Business Insider, TechCrunch and Technori. If you want your business to keep growing, make sure your mind is too. Challenge yourself to keep learning and consider taking a free courses.
Lastly, do not forget to keep networking. Attending business events to socialise and spread your message. Also, through industry conferences, local meet-ups and start-up groups, you can stay inspired to keep creating and dreaming, which, after all, is the core of a thriving start-up. — USA Today
