How to start a business while you’re still in college
Photo by Tima Miroshnichenko
Lots of students decide to start small businesses while they’re studying in a bid to help make managing college costs more affordable, without having to work shifts at a local bar aka the go-to student job. The idea of starting a business around your studies might seem complex and unattainable, but the reality is that with the right approach it can be fairly easy to do. It’s simply a case of taking the right approach, that’s all. Wondering what it takes to start a successful business around your lectures? Below is a guide to some of the ins and outs of combining running a business with studying, so read on for everything that you need to know.
Get creative with what you offer
There are so many different business ideas available, and yet far too many small businesses all offer the same thing. If you want to give your business the best chance of actually being successful and turning a profit, then it’s vital that you’re willing to get creative with what you offer. Think about what there’s a gap in the market for and what areas of those gaps you could fill with a business idea.
Put a small budget aside
Admittedly, starting a business always comes with some initial and ongoing costs, so it’s important that you can put a small budget aside to cover those costs. Let’s say, for instance, you’re starting a computer building and fixing service, you may need to purchase parts for customers or use the cheapest international money transfer options if you’re sourcing components from overseas. You need to have the money available to buy these (or any other parts you need) or your business won’t be able to sustain itself. That’s why, making sure that you have a small budget set aside for your business, is so vital to your success.
Set time in your schedule to work
It’s easy to make the mistake of thinking you’ll just work as and when time crops up. Unfortunately, if you think like that, then you will most likely end up making little to no time for your work. So, that’s what it pays to set specific time slots aside in your schedule for work, so that you can ensure that you’re able to run and manage your business effectively. Even if you’re only setting aside an hour each day, this will mean that you have some time available to you to work on whatever needs working on.
Market your business effectively
It’s also vital that you make time to market your side hustle effectively, because if you don’t you can’t expect to see success, can you? Post about what you’re offering in college Whatsapp groups and on campus Facebook pages, as well as putting up flyers across campus. Not clued up about marketing? Look online for some free classes, tutorials or workshops that you could attend to increase your knowledge and improve your marketing efforts.
There you have it, a few simple starter tips for launching a business around your studies. Take your time, use online guides to help, and you could even walk straight out of college into your own business!