Starting a business while studying at university can be a great way to test what you learn in the classroom in a real-world environment. Indeed, many business and entrepreneur courses involve planning, starting and running a small business for a certain period.
When starting a business at university, it’s best to aim for something small and manageable, considering that you are likely to have to juggle the business with study commitments. With this in mind, a web-based business might suit you best – it keeps running even when you’re not.
It’s also a great idea to focus on something you are really passionate about – you are going to be putting a lot of time and effort into this business, so make sure it’s something you really enjoy.
Also, try to use your natural advantage – your youth. Developing products for younger consumers is a good idea, as you should have a good understanding of the way customers buy, and an easy-to access market (other students) on which to test your products.
James was the editor and publisher of SmartCompany and LeadingCompany for five years. He is now the Australian Financial Review‘s companies & markets editor, and a former BRW editor.
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