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5 Tips to Go from Being a Student to an Entrepreneur

By on Jan 16, 2013 in Business | 9 comments

Many of the top businesses started in a college dorm room, including Facebook, Dell and Microsoft. They started as a quick way for students to earn money and spiraled into well-known companies in the majority of households. It was not just the product that helped them; these students followed a number of steps to turn their business dreams into a reality and you can do it too . Below is a Top 5 list according to RealBusinessRescue.co.uk that can take you from student to entrepreneur if you put the hard work in.

Find Something that Is Different but Needed

The trick is to look into the products that are currently selling well and finding a way to make them better and different. Facebook was just like MySpace and BeBo at first glance but offered different functions which drew more people in. Focusing on the types of products that you will sell and how to offer a high quality service will help you expand quickly.

Gain Some Experience in Start-up Companies and Running a Business

Having some business experience will help you understand more about the world that you are delving into. Gaining experience in start-up companies will help you understand the trials that many small businesses have to face, the risks that they have to take and the problems with getting finance or traffic to their website. The more you understand early on, the more you can use to prevent your own business falling short and suffering from financial problems.

Find a Mentor

A mentor will help offer advice with running your business and how to tackle various problems. A mentor will help with how to expand your product or market to the right target audience. This doesn’t need to be someone important and high up in the business world; just someone who has been there before and been successful in their business.

Use Social Media to Your Advantage

Social media is becoming important for all businesses. It offers a way to secure your brand and start your online reputation. It is becoming essential for ranking highly on search engines as more people rely on social media to find out more about products. The benefit of social media is that it is free, so it reduces the amount of money you need to spend on marketing your business. While you will need to set up a schedule to use social media well, you will benefit from your fans re-tweeting your messages or sharing your statuses with their friends and followers.

Get Your Name Out There

You will never reach the millions if you sit in your dorm room behind your computer. You need to get yourself out there and make people aware of you. Let people around your university or college know about your website or your new idea and offer samples or give demonstrations. The more you market yourself in different venues, the more people will hear about you and want to know more.

It is possible to take a dream as a student and turn it into a successful business. There are many adventures that start out in dorm rooms, whether on your own or with friends. To become successful, you need to get your name known and find someone to help you understand the world of business.

    9 Comments

  1. These are good tips Deacon! With social media, these days it seems to be a bit easier to get your name out there. Of course, it is a double edged sword because things are so niche specific. We’ve just started our own blog company, and I’m hoping that someday it will pay all the bills:) Good luck to any students out there who want to start their own business!

    Greg@ClubThrifty

    January 16, 2013

    • I wish I could take the credit but this is a guest post. I agree though, it is a lot easier to get your name out there with Social Media these days. Good luck with your blog company!

      Deacon

      January 16, 2013

  2. These are some awesome tips Deacon! As a small business owner myself I can attest to many of them, especially #1. You need to be able to differentiate yourself in a way that potential clients will see the value you can add to them.

    John S @ Frugal Rules

    January 16, 2013

    • It is true, having a unique product or value proposition is key. As a reader of Frugal Rules, I appreciate the value that you add as I have learned much from you.

      Deacon

      January 16, 2013

  3. I would have loved to have found a mentor sooner. I feel that they just think differently and see things differently than the like minded people I was always around. It was refreshing and motivating to find someone that thought outside the box and had gone through the experience.

    Jon @ MoneySmartGuides

    January 16, 2013

    • I couldn’t agree more. I have two guys that I would consider mentors and I have learned so much more from them than I ever could have learned from my peers. It would have been great to have met them earlier in life but it is possible at that time I wouldn’t have listened to their advice anyway if I had :)

      Deacon

      January 16, 2013

  4. It’s all about differentiation. Many people “start” businesses trying to mimic what others have been successful at, but that only leads to failure. Great tips for anyone looking to start a business.

    Debt Roundup

    January 16, 2013

  5. Social media is huge, and the sooner you get started on it the better. I recently posted about Twitter lists and was shocked that almost everyone who commented either hadn’t heard of them or didn’t use them. Social media has to be utiliized properly for it to be effective and not a time-waster.

    DC @ Young Adult Money

    January 17, 2013

    • It’s funny, I have a number of Twitter lists but I rarely use them. I could see how it would be necessary if you are following say 40,000 people :). Thanks, by the way. Because of a post that you wrote I now have close to 1,500 followers.

      Deacon

      January 17, 2013

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