3 top tips on starting your own business at university!
If you have dreams of starting a business and being your own boss, don't be fooled into thinking you need to wait until you've graduated to get started. In fact, the earlier you start down the entrepreneurial path, the more likely you are to succeed.
If starting your own business during university sounds like it's for you, then follow the tips I've mentioned below for the best chance to succeed.
Be smart with your spare time
If you think you don't have much spare time now, just wait until you enter the work place. While there's no doubt that your studies require plenty of effort, you're going to need to make time to work on your business every week if you're serious about making a success of it.
If starting a business in university was easy, everybody would do it. The reason there aren't a lot more Mark Zuckerberg’s walking around is because you need to put in the work now if you want to be your own boss.
So, spend a few less nights at the pub and resist the urge to let TV and video games take up all your free time, and instead put time into working on your business. You'll realise this is a small price to pay once you're your own boss.
Don't do it all alone
University is a great place to meet ambitious people. Your campus will be filled with smart and driven students building up a skillset in a wide range of specialities. So, whether you need help building a website, designing your product, or marketing your business, don't try and do it all alone — team up with like minded students who want to put their knowledge into practice.
Make sure you take advantage of all the resources available to you as a student, too. The image of a lone entrepreneur building a business from scratch with nothing but their wits is romantic, but getting every bit of help you can along the way is going to be more effective.
So, let your university know what you're doing and ask if there's any assistance they can give you, whether that's through mentorship or connections with local businesses.
Don't fear failure
In many ways, there's no better time to start a business than when you're a student. Without a mortgage to pay or a family to feed, you have a lot less to lose if your idea fails. This frees you up to take risks, which gives you an edge on the other entrepreneurs in your space.
What's more, you've got your whole life ahead of you if your idea doesn’t go to plan. That gives you plenty of time to brush yourself down and move on to the next idea, and you'll be older and wiser when you do.
If your business does work out, this could be the best thing you ever do — if it doesn't, you're leaving university with the kind of experience that will really make employers pay attention to your CV.
If you've got an entrepreneurial streak, don't wait until you've graduated to pursue it. Instead, follow these three tips to give yourself the best possible chance of launching a successful business at university!
Credit to John Armstrong who is the co-founder of Custom Planet which he started with his friend Andrew as a student. The pair have gone on to grow the business into one of the UK's leading clothing manufacturers. Thanks for your input and advice with this post, these are just a few of John’s tips for any students looking to follow in their footsteps.