How to Start a Business in University
If you are a college student, there are ways to start your own business while in university.
In 2017, there were 81% of undergraduates were working while in university.
The following are good pointers for college students to know in starting your small medium business.
This article will also explore some small business concepts you can use when you're also trying to ace your grades in university.
Tips for College Entrepreneurs
The following are good pointers for college students to know in starting your
1. Pick up some new skills
Starting your own business while in college can be a great way to gain experience and learn new skills.
2. Choose a business close to your passion
It is important to choose a business that you are passionate about and that you can see yourself doing long-term.
3. Target the right people
Research the market and your competition to ensure that your business has a chance of being successful.
4. Keep track of profits and investments
Start a business plan and track your progress to ensure that you are on track to achieving your goals. Sometimes if you're a freelancer and independent contractor, those things can mean the same thing since you are fundamentally self employed.
5. Take up training and seminars and increase your skill sets
Seek out advice and mentorship from experienced entrepreneurs to help you navigate the challenges of starting your own business.
Essential Skills for College Entrepreneurs
1. Staying on a budget and stick to it.
Refrain from temptation to over spend. It's better to stick to your budget and remember to separate your profit income and investment income.
2. Insights how to save money and invest it wisely.
It's a good idea to know when to spend money and when to save it.
3. Having a good understanding of loans and how to use it responsibly
If you know when to take out a loan and when to spend it, and what returns can come out of your borrowing then that is a good step to practicing proper finance management.
4. Negotiate terms with vendors and suppliers
If you practice how to negotiate with people, learn when to give in and learn when to assert your point of view, then you will gain insights into one of the most important skills in entrepreneurship.
10 Ideas for Small Businesses for College
If you are attending college you may think of many business ideas that suit you and your circle of potential customers.
Here are some small business ideas for college students:
1. Web and Mobile Development
If you are a web developer, you can create a portfolio of your work and offer your services to local businesses. There is also a demand for mobile applications these days. You can develop an app for businesses or create a game app and make money from in-app purchases.
2. Event Planning
You can start an event planning business on your campus or in your town. This can include planning birthday parties, graduation parties, and other events. You will need to be organized and have good customer service skills to be successful in this business.
3. Personal Shopping
If you are good at finding deals and have an eye for fashion, you can start a personal shopping business. You can help people find clothes, accessories, and other items at a lower cost. This is a great business for college students because it is flexible and you can work around your schedule.
4. Social Media Management
Many businesses are looking for help with their social media accounts. If you are good at promoting content and engaging with customers online, you can start a social media management business. You will need to be familiar with all the major social media platforms and have good writing skills.
5. Tutoring
If you excel in a certain subject, you can start a tutoring business and help students improve their grades. This is a great way to make some extra money while helping others succeed in school. You can tutor students in person or online depending on your schedule and preference.
6. Printing school papers and projects - design and print
If you have a printer at home, you can start a business printing school papers and projects for students. This is a great way to make some extra money and it can be done from the comfort of your own home. You will need to have good quality paper and ink to get started.
7. Personal Assistant
If you are good at staying organized and managing your time, you can start a personal assistant business. You can help people with their daily tasks such as scheduling appointments, handling email, and more. This is a great business for college students because it is flexible and you can work around your classes.
8. Photography.
You can offer to take pictures at events such as birthday parties, graduation parties, and other occasions. This is a great way to make some extra money and it can be done from the comfort of your own home. You will need a good quality camera to get started.
9. Virtual Assistant
If you are good at staying organized and managing your time, you can start a virtual assistant business. You can help people with their daily tasks such as scheduling appointments, handling email, and more. This is a great business for college students because it is flexible and you can work around your classes.
10. Housekeeping
If you are good at cleaning and organizing, you can start a housekeeping business. You can offer your services to families in your area who need help keeping their homes clean. This is a great business for college students because it is flexible and you can work around your schedule.
Key Takeaways
College is a season in a woman or man's life where one is concerned with grades and perhaps making a few dollars on the side for paying tuition.
The most useful business skills are those which are close to your passion and the skills you already have.
You must also learn proper finance management skills.
You can create pay stubs to make sure you track your income and file income tax returns if necessary, click the button below to start creating your own stubs:
