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how can i start my business in college?

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college business entrepreneur entrepreneurship tips
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Theophilus’s Answer

Hey John, Starting a business in college is an exciting challenge! I started mine when I was in Junior High School. Keep these tips

Find Your Passion & Idea: Start with something you’re passionate about and identify a “problem” you can solve. Think of products or services people around you need.

Research & Plan: Check out your competition, learn about your target audience, and create a simple business plan outlining your goals, budget, and strategy.

Use Campus Resources: Colleges often have entrepreneurship clubs, business centers, or free workshops. Connect with professors, attend networking events, and make the most of these resources!

Start Small & Test: Begin with a small version of your business. Use social media to promote, and test your idea to see what works best before fully committing.

Balance School & Business: Set a schedule that lets you focus on school and your business. Staying organized is key to handling both.

Grow & Network: Keep building connections and learning. The right mentors, partnerships, and feedback can help your business grow faster than you think.

All the best
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Tony’s Answer

I would recommend getting a sales job so you can learn how to sell yourself and your product. A sales role, especially a face to face role, will help you learn how to communicate effectively with various types of people, how to deal with rejection while keeping a positive attitude, and how to manage a business with expenses and administration activities. These will all give you skill sets to help run your own business some day. Once you start planning to open your business, I highly recommend finding mentors who can guide you along the way. You can research startup communities that offer mentorship opportunities.
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Dilawar’s Answer

Starting an e-commerce business is an ideal way for college students to venture into entrepreneurship. The beauty of this model is that it doesn't demand a physical store or on-site work. You can operate it from anywhere, at any time that suits you. This flexibility ensures that your academic pursuits aren't compromised, as you can tailor your business hours around your study schedule.
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Cassidy’s Answer

That is so exciting that you are planning to start a business! When I started my business, I used LegalZoom to help me find what I needed and for some tips. I wouldn't recommend paying for all of LegalZoom, but seeing some of the tips might be helpful when you are ready to register your business. The secretary of state also should include some tips for what you need! Depending on what your business will be, you might want to find a similar model and reach out to ask some questions to see what they did. I have found that people are usually excited to help! Another thing that will be helpful is showing your experience - this can be through including a portfolio on your website or including reviews. Weebly is a great source for a free website builder. I wish you the best of luck! The most important thing is to take it one step at a time and enjoy what you are doing :)
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Nikolaos’s Answer

Hi John,

Have you already identified what business you want to start? It would be great if you could share some additional details! I would tell you that creating a business plan is one of the first vital steps toward that journey. You need to outline your business idea, market analysis, target audience, competitive landscape, and financial projections. This plan will serve as a roadmap, helping you stay focused and organized. From there you can always start small with minimal viable products or services to test the market before scaling up.

Additionally it would be really valuable to seek mentorship from experienced entrepreneurs and even consider partnering with classmates who have complementary skills. Their different perspectives and expertise can help you build a solid team and significantly enhance your startup's success.

Of course, effective marketing is essential. I would encourage you to start by utilizing social media platforms, and word-of-mouth to promote your business. Creating a strong online presence with engaging content can attract potential customers and investors.

Don't forget that networking plays a pivotal role in entrepreneurship. Attend college events, workshops, and industry conferences to connect with potential mentors, partners, and customers. These connections can provide advice, support, and opportunities for collaboration.

Last but not least, balancing academics and entrepreneurship requires discipline so you need to set realistic goals and manage your time effectively to ensure you maintain academic performance while growing your business.

Best of luck with everything!

Regards,
Nikolas
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Katherine’s Answer

The two best resources I know of for learning to run a business are this workbook (https://www.churchofjesuschrist.org/bc/content/ldsorg/topics/self-reliance/2017/14678_sgmb_book_eng.pdf?lang=eng) and Dave Ramsey's book EntreLeadership.
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Nada’s Answer

Hi John,

It's awesome that you're diving into the world of entrepreneurship right out of school! Starting a business requires a mix of passion, grit, and the right tools.
Here's a breakdown of the essentials to get you started:
1. The Idea Toolkit:
* Problem-solving lens: The best businesses solve problems. Look around – what frustrates people? What needs improvement? Your idea should offer a solution or fill a gap.
* Idea validation: Don't just assume your idea is great. Talk to potential customers. Get feedback. Would they actually pay for what you're offering?
* Niche focus: It's tempting to try to be everything to everyone, but starting with a specific niche helps you target your marketing and stand out.

2. Planning :
* Lean Business Plan: No need for a 100-page document, but outline your goals, target market, how you'll make money, and your marketing strategy.
* Market Research: Who are your competitors? What are their prices? How can you differentiate yourself? Knowledge is power!
* Legal and Financial Foundation: Choose a business structure (sole proprietorship, LLC, etc.), get necessary licenses, and understand basic accounting.

3. The Digital Toolbox:
* Website or Online Platform: This is your virtual storefront. Make it user-friendly, whether it's your own website or an Etsy shop.
* Social Media Presence: Where does your target audience hang out online? Focus your efforts on those platforms.
* Content Creation Tools: You'll need ways to create engaging content – Canva for visuals, video editing software, or even just a good phone camera.

4. Customer Connection:
* Email Marketing: Build an email list and use it to connect with potential and current customers (Mailchimp, ConvertKit are popular options).
* Customer Relationship Management (CRM): A system to keep track of customer interactions and build relationships (HubSpot, Zoho are examples).
* Excellent Communication: Respond to inquiries promptly, be helpful, and build trust with your audience.

5. The Growth Accelerator:
* Analytics and Tracking: Use tools like Google Analytics to understand how people find your business and what they do on your website.
* Networking and Collaboration: Connect with other entrepreneurs, potential mentors, and industry professionals.
* Continuous Learning: The business world is always evolving. Stay updated on trends, learn new skills, and adapt.

Resources for Young Entrepreneurs:
* Small business development centers (SBDCs): Free or low-cost counseling and training.
* SCORE: Free mentoring and resources from experienced business professionals.
* Online business courses: Platforms like Coursera, Udemy, and Skillshare offer a wealth of knowledge.

Starting a business is a marathon, not a sprint. Be patient, persistent, and passionate about what you're doing. Good luck!
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