While you’re in school, it’s a good idea to start laying the groundwork for your future career. Some students do this through internships while others adopt a more entrepreneurial approach. Launching a startup in college can be a great learning opportunity for future endeavors. Whether this one pays off big or just serves to teach you a few lessons, here are four things you should do before you begin.
Learn from the Pros
As a college student, you can network with professionals on LinkedIn and acquire mentors who help guide your business from an idea to a real company. Whether you take a part-time internship or reach out to interview someone for a project, make sure that you take full advantage of the fact you’re a student and can access professionals in a way working individuals can’t. Make sure that you look at some of the most successful startups by entrepreneurs under 30. What did they do that you already know how to? How did they get started, and what challenges did they have to overcome? Even YouTube videos and magazine articles can be amazing learning material during the early stages of your startup ideation.
Get Your Priorities in Check
Are you prepared to balance schoolwork with a full-time business? Do you have the time, motivation and energy to commit to the hours of unpaid work it takes to get a company going? It’s not easy, and you don’t have to feel bad if you realize that right now, college needs to be your main focus. However, it is possible to work on your business on the side while you attend school.
Remind yourself what you’re doing now. Why did you want to get your degree in the first place, and how can it help you along the way? Consider where you’re going and how your current academic situation will impact your professional ambitions. Maybe you need to apply for more scholarships and leverage greater control over your finances with private student loans. Take time to really think and organize your plans before plunging ahead.
Put Brand Before Profit
This may sound crazy, but money isn’t your top priority as a new startup owner. When you’re young and inexperienced, the likelihood that you’re going to make a fortune is slim. That means you need to be strategic and instead focus on growth and building a strong brand that attracts a loyal audience. Social media is free and second-nature for most college students; learn how to leverage it to your advantage as you begin to build not only your startup’s image but your brand as an entrepreneur.
Gain Work Experience
Before you can hire other people to work for you, you have to know what work needs to be done. Being an employee, even on a part-time basis, can give you valuable skills and experience you need to run your startup better. You’ll learn how to be a good worker so you can one day be a good boss; overcoming challenges will also give you greater empathy and help shape a perspective that allows you to be more conscious of your own business’s needs in the future.
