Four Tips for Creating a Startup as a College Student

Plan Ahead

Before you build a website, recruit staff or start selling, make sure you take some time to lay the groundwork for your business. Best practices in the business field may sometimes seem like formalities, but there's a reason they've been around so long: they're tried and true. One of the most important things to learn how to do is to learn how to build a business plan.

When you're running your startup, your business plan will be the blueprint for the whole organization, from practical plans on what you'll sell and how you'll sell it to the abstract concepts like your company's profile and culture. Spend the time figuring out how to write a good business plan. You can even ask local entrepreneurs to show you theirs and gain ideas from others. Once you have a good sense, make sure you write a smart, detailed and effective business plan. With a solid foundation, your startup will have a much better chance of surviving long-term.

Connect to Curriculum

Starting a business while you're still in college can be a great opportunity to mix practical experience with book learning. You're paying to be immersed in an educational environment, so why not take advantage of it? While in college, plan your classes around your startup. Take classes in entrepreneurship, tax laws, economics and other important disciplines. If there's a specific skill or knowledge set you know you lack, take a class to make up for it. You'll reap the rewards of the combination of college education and practical experience, and your startup will have a better chance at thriving thanks to your increased skills.

Network

Another advantage of creating a startup while still at college is the ability to network with other like-minded young people interested in the same business practices and techniques as you. Attend club meetings for entrepreneurship or business associations on campus. Look up your school's career center and see when their next networking event is scheduled for. If there are no events around you on campus, host your own! With a little ingenuity, you can print flyers, put up signs, rent space and set up an event for young business people on your campus. If you're looking for events, there's a good chance you're not the only one.

Always be sure to be prepared to network, too. Carry around business cards so potential partners can contact you. Prepare an elevator pitch that talks about your business in an interesting and concise way. Keep pushing forward and reaching out to people, and don't forget to be nice! Your hard work will be rewarded with contacts that can help you as you grow your startup.

Find Funding

One of the biggest hurdles to overcome in starting a startup in college is your likely lack of funds. You have student loans to worry about already: don't go broke getting your company off the ground! Find alumni or interested staff members who may be interested in investing instead.

Starting a business in college can be hard, but with hard work, you can make it happen. Use the resources you have on hand as a college student to improve your startup. If you stay committed, you can create a fantastic business!