Running a business while still a student

More and more students are venturing into the big bad world of business while they are still studying. And why not? There are plenty of very prominent success stories out that act as inspiration such as Mark Zuckerberg. Oh, we can all dream of inventing the next Facebook!

The point remains though, that with the advancements in technology, more and more students are throwing their hat in the ring. So, if you’re one of these students, or want to be one of these students, what should you be doing?

Let me tell you.

Business Plan

First things first – if you don’t have a solid business plan, then you won’t have a business. Or, at least you won’t have a successful business. A lot of people think that they can just roll out of bed in the morning and then start a business. No.

There is a plethora of resource and information on crafting a successful business plan out there – so use it! The internet is a big place, so you’re bound to find exactly what you’re looking for. I’d suggest starting with the government’s page on writing a business plan. Solid advice in an easy to understand format.

Source Funding

Money is at the heart of everything, and running a business is no different. So, unless you’re the new Duke of Westminster, you’re going to have to find that money somewhere.

Some people use their savings, but there are two notes attached to this that you must understand. Firstly, you might not get this money back. Secondly, you need to have savings to begin with. If you’re a student, it’s likely you don’t’ So, you’ll need some sort of business funding. Funding Circle will be a good starting point, as it is their business to help your business. Of, course you’ll have an absolutely air tight business plan by this point, so you should get it easily enough.

Look for Help

As with finding help for business plans online, there will be other resource for you out there – only in the form of actual human beings. Albeit it online.

Social networking is something that can get you a long way, but seems to be generally underutilised by the general business population. Those who use it right, use it well, and it works out to be a great benefit to them. Linked In is an obvious one, but there are a lot more places out there that are filled with people wanting to give you advice an information. What’s the reason not to do this again?

Additionally, there are always big businesses, corporations etc. just looking to give things away. Whether this is funding or equipment, looking for competitions online can certainly help the student entrepreneur in you. It certainly won’t hurt to try.

 

At the end of the day, there are no actual black and white, straight to the point rules for starting a business as a student. But there is plenty of guidance and advice. The above are just a few of these, though very important ones at that. Do yourself a favour, and make sure you looking into absolutely everything before making any decisions. The young are known to be restless (they even made a TV show about it) and want things done quickly! However, taking that extra time to look everything over properly, certainly won’t hurt your chances.

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