Tips for Incoming College Students Wanting to Launch a Startup
You’ve made the decision to continue your education, congrats! Maybe you also have a great business idea you’re hoping to make a reality while attending school.
Being a full-time college student can be a lot between balancing classes, extracurriculars, and a social life. It can be especially challenging if you’re managing that time with the hours required to launch a start-up. If you’re passionate about your future as a business owner and want to build a plan for success, here are some tips to help you get there!
Take Advantage of Resources
Life as a college student comes with a lot of perks and resources, but your funds might be minimal. With that in mind, it’s important to budget and use all the resources available to you. After all, they’re there for you with your future success in mind. Some schools offer library research tools, computer labs, and multimedia equipment rentals.
College campuses always have events going on throughout the year, so don’t forget to check out what different departments or clubs are offering and take advantage of the information and networking opportunities. Popular event topics can include entrepreneurship, public speaking, social media, and even how to make professional connections.
The more you know, the more knowledgeable you’ll be on how to balance your time between school and launching your side business successfully.
Consider Internships and Relevant Classes
A challenge you might face coming into college is having a lack of real-world experience. To put your future self in a better position, apply for internships or jobs that align with the goals and skills you want to build. Who knows, you might even find inspiration for your startup in the companies you intern with!
If you can land an internship or two within your freshman or sophomore year of college, that’s great. The earlier you can get hands-on experience, the better! If not, don’t sweat it, there are other ways to equip yourself with the knowledge and skills to launch a startup.
Classes like Business 101, Marketing 101, and even Entrepreneurship 101 can help you get a better understanding of how to run a business, even if you’re not technically a business major. If your schedule and personal bandwidth allow it, consider taking on a relevant minor or elective that aligns with the ambitions you have with your startup. Learning platforms such as LinkedIn Learning and edX are also great resources to utilize. They are perfect if you want to learn something new but don’t want to add another class to your workload or budget.
Classes on these platforms allow you to go at your own pace which may help prevent burnout. Launching a startup while balancing academics can be overwhelming, but it doesn’t mean you have to choose between the two. So, to keep yourself on track, make sure you’re keeping your workload manageable.
Find an Advocate
While it’s important to believe in yourself, it’s equally important to surround yourself with people who believe in you. Don’t be afraid to reach out to classmates, roommates, friends, and even professors for help and support with your startup. Pedro Pachuca, one of the co-founders of SportVue, said in an interview with CNBC, “People want to help you if you’re in college because it’s like ‘Ooh, bright new talent,’ rather than being right out of college where they see you more as a competitor.” Any of your new relationships could turn into potential business partners, mentors, or test users.
Building a professional network is important too, but don’t think you need to connect with everyone all at once! Make sure to take the time to get to know who you’re networking with as a person, as well as a potential business ally. If you go into a business relationship only thinking about how they could help your end goal, it’s unlikely you are going to make a positive connection or even a connection at all. It’s not about how many people you know, it’s about the positive relationships you have with the people you do know.
Small business accelerator programs are not only great resources for entrepreneurs but they’re also solid advocates for startups looking to break through barriers. Many of these programs focus on giving platforms and voices to underrepresented founders as well, so it could be beneficial to apply for them if you find yourself part of the communities they represent. For example, a program called Put Me On Gopuff was started by the delivery service with the sole purpose to lend support and guidance to entrepreneurs from historically underrepresented groups who want to further grow their businesses.
Visualize Your Success
There are many considerations to take into account when starting a business, especially during college. When you’re feeling discouraged or overwhelmed, take a step back to take care of yourself. Remember to lean on your support system and envision the success you can achieve from small beginnings.
Key Takeaways
Take advantage of resources
Consider internship and relevant classes
Find an advocate
Visualize your success
Wondering how you could go to college for free? We got you fam! Check out our blog post about awesome resources that you could use to source scholarships.