If there’s one thing college students should be aware of, it’s that the job market is a tough place to enter. A degree doesn’t guarantee a job, but a proactive attitude and business smarts certainly help young entrepreneurs along the road to success. Aspiring business owners can start building their brand right on a college campus while sticking within their student budget.
Create A Business Plan
Creating a business plan is the first step for any business, but it has extra importance for college students. Students are often living on a tight budget with limited free time. Their plans have to be strict. You must determine what you’re selling. That product is going to cost a certain amount of money and time to produce. The incoming profit is discovered by deciding on a selling price. It’s also crucial that you decide on a goal. Are you building a long-term business or something that will earn you money on the side?
Start-Up Costs
Your business plan should make it clear the kind of money you’ll need to start up your company. The next step is the find out where you’ll get that money. Some may have these funds already available to them, the size of their business allowing them to rely on personal savings. Other times, more is needed. A number of colleges and states have created business competitions with cash and marketing prizes. Look them up.
Find A Space
If you’re business has multiple workers, you’re going to need space to house those multiple workers. The upside is that people going into business together can usually split the cost. If that’s not possible or if you’re an owner with employees, check with your college. Some colleges will allow you to rent out conference space. Avoid spending on office space altogether by using online conferences. Current technology allows separated workers to still congregate and keep on task.
Rent Out Technology
Renting computers and printers is an option for start up businesses. With the budget of a college student, it may even be the best option. You’re cutting the cost of expensive equipment into smaller and more manageable chunks. Furthermore, when you rent technology, you are also renting the services of the rental company. Find a rental company with excellent customer service. They will provide technology training and access to technicians.
Cut Your Every day Costs
Places like selltoner.com buy back old ink and toner cartridges. If you’re in a business that requires high-quality printing, money back on ink is a great help. You can recycle electronics for extra cash. If you assemble merchandise and pieces are left over, sell stacks on places like eBay. Get your money back where you can.
Even as a busy student on a tight budget, there’s no need to wait for a degree before creating your business. Successful companies can and have been built right on college campuses.
