A few smart startup tips for students
Are you balancing between all that paper writing and dreams about a business of your own? Here are some tips for those who want to combine studying and working on a personal project.
Steve Jobs, Larry Ellison, Bill Gates, Mark Zuckerberg are only a few famous entrepreneurs who have no higher education certificates. This doesn’t necessarily mean you have to be a dropout for your startup to be successful. Of course, you may not become a person with a multi-billion business, but you can get massive experience that will definitely help you to start a second or maybe even the third business of your own. Besides, your experience will add some weight to your resume, which is always a great thing too.
So if you are seriously contemplating the possibility of combining your studies with starting a business of your own, here are five tips on how to do this in the best way possible.
1. Use the advantages your school gives you.
Your college or university is not just the source of all that hard work and endless essay writing. By the way for writing you can use a good essay writing company. You will hardly ever have this opportunity in your life again, having all those technical, academic and advisory resources at your fingertips. Your educators can become invaluable mentor for you. Your classmates, depending on your target audience, can become a great test group for your beta testing. Besides, there are lots of contests and summits for entrepreneurs and students, which can help you to find a mentor, investors or make your ideas go public.
2. Find partners that suit you best
There may be lots of people in your campus that are brilliant, energetic and interesting in almost every respect. So why don’t you start gathering a great team for your business right here, right now? Wouldn’t it be fun to start your project and work on its implementation together with your roommate? This doesn’t mean, of course that your roommate is the only option for you. Look for like-minded people who can really make a valuable contribution in your business.
Don’t think that brainiacs is the only kind of people you need for your startup. Look for those work addicts who are really dedicated to what they do. Look for people who don’t just start projects, but for those who have a history of successfully completed projects in their track record.
Make sure that, despite of all those assignments, errands and your work on informative writing, you still have enough time to work on your project on a regular basis. Your studying, your tests and exams and research papers will always be on your schedule, but starting a business demands proper discipline. A perfect option would be choosing one or two days a week to work together with your partners. Don’t look at your studies and at your startup as at mutually exclusive things. Think of essay topics and coursework topics that would help you in starting your business. You don’t have to be an expert on any subject out there, but at least some idea of how certain concepts and processes work will broaden your business world horizons.
3. Set a line that will be your point of no return
Think of what has to happen to make you and your partners drop out of your college or university to focus on your startup entirely? Ten thousand active users? Million-dollar income? Initial investment? Discuss all of this thoroughly with your partners to make sure you all are on the same page and know what it takes. If you and your partners have very different visions of your startup, it would be better to learn that as early as possible.
4. Don’t be afraid to lose
No matter what kind of startup you would like to launch, it would be useful to remember that the majority of new business ideas fails. Some of them fail profoundly, but this doesn’t mean that their owners are total losers. Studying is one of those times in your life that’s perfect for trying new things. After you have a family to care about and mortgage to pay, it will be much harder to take risks. Every attempt you make, not matter if it’s successful or a total failure, you get that precious experience and understanding of what needs to be done and what you shouldn’t do. In general a failed startup may teach you a lot while you are still a student. You could be writing stories about your amazing experience.
5. Remember that studying is expensive.
No matter what form of studying you choose, it will take a great deal of financial and your personal investment. Every time you feel you really need to ask yourself a question: “What’s more important: my studies or my startup?” choose what is really important, something that would really give you more knowledge and experience. If your startup keeps outweighing all the benefits your studying gives you, then maybe it’s time to take a break. Studying is too expensive to spend half of your time on it when you could do something bigger.
Good luck in all your endeavors!