Some very successful international business started in university and college dormitory rooms. For example, Facebook started when Mark Zuckerberg was in college and it is very successful now. Those businesses are not the exception; you can also start your business at university and thrive at it.
It also doesn’t matter what faculty you are in but if you have the passion and desire to start your business you can and you will.
If you have no idea where to start your own business, here are some tips for business to get you moving.
Use school resources to your advantage
There are resources that you can use as a student of that university you go to. You are entitled to those resources, so use them to your fullest advantage to boost your business. Those resources include free internet, copy and printing services and college newsletters that you can use.
You can research everything you need to and use the internet for the purposes that are related to your business. You can also use print and copy machines to print ads and other marketing material or business plans for potential investors or funders.
As for newsletters, you can reach a wide audience for your products or services. So, you can use it to market your business.
Connect with other students
Two is one and one is none. This saying means that you can achieve more if you have other people in your corner supporting you. Where else can you find a more suitable support structure than your college pals?
Pitch your idea to them and bring them on board if they are interested. It is much easier to do business in university with someone else so you can be able to delegate some of the tasks from the get-go.
If you have limited time, you can pay someone to do your assignment. Online professional writers help you with all type of college assignments like thesis, dissertation, college essays, project reports and research writing.
Connect the dots between your classes and business
It doesn’t matter which faculty you are in. You can always start a business, no matter what studies you are doing. Because of that, ask business-related questions in class and try to match and see how you can open the first business and make more people involved in it.
You don’t have to study an MBA to open a business. So, ask your teachers and friends if a business can be started out of your studies. Or ask what your niche can be.
The most important step of any business is getting the funds to kick-start it from the ground. This can be a tedious process and may drain the enthusiasm out of you and make your business look like it’s not worthwhile.
However, don’t give up but continue trying hard to prove that your business idea deserves getting financial backing from investors and funding institutions.
Create a schedule
If you feel like the task at hand is way too hard, this tip will help you make better use of your time and ease your workload. The trick here is putting everything on paper and carefully planning your work for each day will help you take thing one day at a time and each task at a time.
This will also make sure that your grades don’t suffer because you will know what you should be doing at which time. Don’t ‘overbook’ yourself by writing down too many tasks but be reasonable and think of other things you may need to do, like cooking, resting, etc
Accept your limitations
Everyone has their limitations and as much as you feel like you should be doing more, you should accept what you can and can’t do. If you have to do your school work and work on your business model, it will be more sensible to say no to that night out with your friends.
To accept your boundaries, careful thinking while you schedule your time will be very beneficial. Designate the weekend for social gatherings and weekdays for schoolwork and your business.
Find a mentor
Always be ready to learn new stuff and don’t be too proud to accept advice. The best way to do that is to get a mentor that will give you advice and show you the way. Being in university is beneficial because there are a lot of potential mentors you can choose from, ranging from your professor or faculty leaders.
You can even ask for help from professors not in your faculty. For example, you can ask business professors for help they will be happy to help.
To keep your business afloat until you get some funding, you need to have detailed cost estimates. In your financial documents also budget for unexpected costs and also detail your regular costs for the everyday running of your business.
Make sure that you also account for the licensing fees of starting and registering your business. Writing this down will make you realize how much money you need, and therefore, you may realize that you don’t need funding if you have enough savings.
Market your product or service
In college, you are exposed to a diverse range of people. Some of them are your target market. So instead of looking for customers externally start inside your university and use school notice boards and other designated places to advertise your business.
You can also market using word of mouth to your lecturers and other students. Once you have done that you can use local newspapers and other marketing channels like social media etc.
Bear in mind that the business you start in your university years will most likely branch out to your life after university. Because of this, you should be consistent and continue nurturing your business.
Seek opportunities to grow and leave your comfort zone. Your studies will also help a great deal once you have completed them and running your business, so keep working on them also and don’t neglect them.
Starting your business in university is a very great idea and will also help you start a career as soon as you get out of university.
Just don’t give up and continue working on it, if it doesn’t work, try again until it does work or adjust your strategy a bit. You can do it and if you use the tips mentioned above, you can trust that your business will succeed.
Frank Thompson is a business mentor with interest in startups and small businesses across the globe. He has helped many students get off the ground and form successful companies and get them multiple rounds of funding. In his free time, Frank likes to cook Italian food for his friends, go out for fishing and read fiction novels.