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Business Ideas for College Students

Business Ideas for College Students
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Business Ideas for College Students…
Business ideas for college students have do’s and they have don’ts. As newly graduated college students and current MBA students, we understand what it is like to be a college student with a unique business idea. You are young, leverage it. Find something to leverage that you can be an expert in because of your age. But remember, the difficulty lies in execution.

Business Ideas for College Students: The Do’s 

  • Start something, Start anything – The breath of life is doing. If you want to start something, anything at all, throw inhibition to the wind and start.
  • Create a strategy – Okay, you started. Let’s talk strategy. Your idea might be great, it might not. Think of one thing and one thing only: how will you create economic value? (Economic Value=How much someone is willing to pay or to give up for your product or service)
  • Structure it –  You are committed. You have a strategy. You need a structure. A structure allows you to increase the willingness to pay of your consumer. If you offer a service, your service needs to have all the amenities.

Business Ideas for College Students: The Don’ts 

  • Believe your friends – When it comes to your ideas, your friends may be supportive or they may be jealous. Either way they lack experience, therefore they have bad advice. Find a professor at your university and ask him to mentor you.
  • Hire quickly – Now you are making money, you are worried about expanding to quickly. Do not hire quickly. Stretch yourself.  Quality control is essential. You need more practice. Keep doing the miniscule tasks you hate. It will pay off.
  • Rely on Instincts – Every decision needs a reason, a logic behind it. You want to target young women for your clothing line. Why? What does the existing research say? Do you need to perform your own research?

Business ideas for college students are not unlike any other ideas. They need execution, creativity, and consistency. But before anything else, forget the self-doubt and do just one thing: START.

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