1) Do your research.
If you have an idea for a business, the best thing you can do is to tell everyone about it and get their feedback. Is it a product or service that others would use often? Is it filling a genuine need or gap in the market? The best ideas are those refined through discussions with others. This is an important step: don’t skimp on the research.
2) Take your idea to the enterprise department at your University.
Tell them what you are planning and they can guide you in the right direction. Many universities and colleges have dedicated business support services especially for students. These services are often free, so do take advantage of their knowledge and connections – it may open many doors for your new business.
3) Speak to the entrepreneurs’ or enterprise society at your institution.
This is a great way to tap into a peer network with similar entrepreneurial aspirations to you. And you will probably meet potential co-founders, employees or business connections that will be invaluable to your company in the future.
4) Plan, plan, plan.
This may sound like an obvious one, but you’d be surprised how many people fail to plan ahead. You can save yourself a lot of stress by thinking through the first year of your business, and anticipating any problems you might run into. How will you support yourself while you get your business off the ground? The number of hours a week you can work is unrestricted.
5) Have fun with it!
Starting a business is hard work, but also incredibly rewarding. Enjoy the process; you’re doing something very brave. Remember to ask for help when you need it and to take one step at a time – sometimes the greatest opportunities come out of nowhere, so keep your eyes open and seize them as they come along.
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