What are the things generally on the minds of the average 18-19 year old teenagers? Well they could range from movies, hangouts, friends, relationships, exams and so on. But having big dreams, becoming trailblazers and driving the future- do they all sound far-fetched? Not at all, for some of those really passionate and zealous student entrepreneurs. Take for example Bill Gates, Mark Zuckerberg, Larry Page or Elon Musk. They share more than a few enviable accomplishments. They’re billionaires, they made their fortunes in technology and they started their businesses while they were still students apart from the fact they were also very smart.
So if you are quite keen and willing to take the dive, you don’t really have to wait until after graduation to launch your own business.
If you’re considering becoming a student entrepreneur, just like any other endeavor you undertake, you should have a clear plan. In the kind of competitive world we are in, it is essential to prepare the ground before getting into the battlefield. Researching the steps needed to successfully bootstrap a business from your dorm room is key.
Here are a some steps to Becoming a Successful Student Entrepreneur & insights to the basics of starting up. At first, they look easy, but, as many student entrepreneurs will attest, it’s quite challenging, especially while juggling studies and work.
- Evaluate your business skills, knowledge and goals. Brainstorming is a great way to test your idea and make it even stronger.
- Find the business idea that suits you and your skillset the best. Try to target a concept that taps into your existing skills and resources. Also as a student, your business idea should be relatively easy to manage and not consume a significant amount of your time.
- Research your competitors (and prepare to crush them). Depending on your schedule and the amount of money you intend to earn, you may be better off choosing less popular markets that are easier to break into.
- Make a stellar business plan. Your plan must be simple and require minimal start-ups costs, as otherwise you will simply incur additional debt.
- Seek out a helpful mentor. It is always good to take advice when one is stuck through or needs a proper direction.
- Once you have your fool-proof plan ready on paper, register your business, open up shop and rock it!
- Any new task seems to be intimidating at first. It is important to not lose hope and stay positive throughout. You don’t have to be a professional to build a successful product. Remember amateurs started Google and Apple. Professionals built the Titanic. So just go for it and give it your best!
From inception to launch, here’s how to start up while you’re still a student. Good luck!
infographic credit WBSA