Many students choose to go to university not for better job opportunities but in pursuit of starting their own business. There’s no need to wait until you graduate to begin — by becoming a student entrepreneur, you’ll learn crucial skills now, earn some money while you study, and perhaps set the foundations for a business you’ll continue once you’ve left university.
1. Seek Support from Your School
The first step is to find out if your school offers any support for student entrepreneurs. Many universities now have entrepreneurship centers, where you’ll have access to resources like advisors, courses, and useful contacts.
2. Search for a Mentor
Find a mentor who has the relevant experience to help you. Ask at your university or directly reach out to people who have relevant expertise in the field. You should find that many people are willing to help you succeed, especially if they were once in your position.
3. Apply for Funding
Your inexperience means you’re unlikely to have much success if you apply for funding from venture capital firms. However, there are other sources of funding specifically for students. Search for student business grants to gain the cash you need to take your idea off the ground.
4. Compete in Business Contests
Another way to gain funding is to participate in competitions for student entrepreneurs. The prize tends to be non-dilutive funding, meaning you’ll maintain ownership of your startup. You’ll need to pitch your idea in front of a panel of investors, which alone is a great experience for teaching you how to present your concept. Plus, you’ll likely receive feedback about your startup idea, including ways to improve it.
5. Take Part in Entrepreneurial Programs
Learn the key skills you need to build a business by participating in entrepreneurial development programs. Many of these programs have extra perks, such as ongoing support in a particular area or discounts on services to support your startup. However, if you’re struggling to find the time to take courses in addition to your university classes, choose electives that will teach you the skills you need for your business idea.
6. Meet Other Student Entrepreneurs
Make the effort to meet other students who are also striving to become entrepreneurs — there are likely many at your university. You find you’re able to meet them through networking at campus events and by joining student clubs and organizations that attract entrepreneurial types.
Being a student entrepreneur does mean you’ll be working harder than friends who are fully focused on their academics. You’ll need to have a quiet space where you can focus on making plans for your business. You’ll find this at Foundry Lofts. Our apartments near Brock University form a student community where you’ll have everything you need to thrive. In addition to having your own room in a four- or five-bedroom apartment, you’ll be able to meet others in the fireside lounge, keep up with your laundry using your own washer and dryer, and collaborate on projects in the group study spaces. Contact us for a lease.