Attendees of tertiary education institutions can rarely boast of an unlimited budget, but they can dispose of their free time and resources available adequately. And even if you won’t learn how to be a prosperous entrepreneur from your textbooks, opening your own business is a priceless learning experience.
So there is nothing odd about the fact that myriads of college/university students aspire to start their business while still gaining knowledge at their higher educational establishment. A whole host of the eminent young startup founders who defined the concept of their future business during their studentship and started realizing it at the same time are now the owners of world-known, thriving enterprises and virtual services.
Phil Collins, who formulated his idea of a profitable startup back in his student years, represents an excellent example for those dreaming of starting their own startup today. After earning his degree at one of the most reputable colleges in the country, Collins established an online writing company with a personalized approach, essaywritingservice.com, with his two college friends – Joy Mayo and Jennifer Lockman.
During his pursuit of a prestigious diploma, Phil Collins did his best to maintain his academic standing on the highest level possible. Due to his natural abilities and talents, Collins inevitably fetched straight A’s on all educational disciplines. Personal success made him think, what if he could help other learners, struggling with absorbing and memorizing pillars of new information. While attending a higher institution, Collins got acquainted with two outstanding students – Joy Mayo and Jennifer Lockman. Both of them could show off equally impressive learning achievements as Phil himself, so he decided to offer Jennifer and Joy to work on his startup altogether.
Luckily, Mayo was really good at communication and possessed a decent knowledge of marketing, so they found connections with writers easily, as a result, she would later be appointed the head of the customer care department. In her turn, Lockman excelled at mathematics and finances, which subsequently made her the finance director of their writing-aid organization.
If the story of Phil Collins and his friends inspired you, and now you wish to test yourself in this field while still attending lectures, we won’t try to dissuade you. Yet, before you start your own business, you should take into account the following vital aspects:
Zero or minimal investment.
New product ideas for college students should be simple and not require continuous investment. Otherwise, they will either give up on their project or be massively in debt.
Thus, avoid concepts that involve significant initial investments and considerable costs in the future. Focus your attention on those aspects of a business that can be performed without money or with available scarce resources.
This point is critical in choosing a particular business option for a college/university attendee. Because students are still feasting on knowledge at tertiary education institutions, which is considered a priority, it will not be possible for them to devote much time to their own business.
Purpose of the establishment.
In many ways, understanding the goals that students set for themselves helps them to determine the concept of their future business. If you plan to develop your startup with further prospects, it is advisable to pay attention to more serious business. Otherwise, the usual part-time job will do.
Knowledge and experience.
Sophisticated entrepreneurs with broad experience do not recommend young professionals plunge headlong into those niches that are completely unfamiliar and incomprehensible.
For instance, in the recent past, a student has mastered his/her ability to fix portable gadgets and personal computers. Then it would be better to build your startup focusing on this type of activity. Professional training always makes its contribution.
If you are obtaining a degree in Language Arts or English and can boast of impressive results in your studies, it would be logical to start an Internet-based business, specializing in tutoring. Thus, you will be teaching a foreign language to younger people or your college/university peers and earning a living.
Doing business following your profile allows you to gain a decent experience, which is strongly required by potential employers all over the world from freshly graduated students.
It is also vital to pre-analyze the market. If there is a lot of competition, try to set up a business in a niche that is not heavily “crowded.”
The studentship is so much more than never-ending classes and a slew of educational assignments. For young enthusiastic learners, it is also a time to develop business skills, make useful acquaintances, and acquire practical skills. Young specialists must learn responsibility, self-organization, and discipline throughout studying at a high educational institution. Therefore, those students, who start a startup without interrupting the educational process and simultaneously achieve success, grow up, and prove to themselves that they can punch well above their weight.