In the 21st century, it seems everyone is trying to start a side hustle or build a small business from home. Whether they’re trying to make some extra cash to go on vacation, or they’re looking to be the next big lifestyle blogger, small business launches happen from the home office every day.
Now, what if you’re a college student? If single moms, traditional businessmen and women, and even Kenny the copy guy are starting a small business, shouldn’t you be able to launch one?
Yes, you’re busy. So is that single mom with 4 kids.
Yes, you binge far too many episodes of Friends. So does Kenny.
Yes, you don’t have a briefcase. Newsflash, neither did the world’s top CEO when he was starting out.
All you need to launch a business from your dorm room is some determination, discipline, and a little capital. Now university might be making you poor, but the first two are qualities you need to learn in college anyway. As for the finances, there are always ways to make more money. (And no, we don’t mean dealing). Taking jobs around campus or online are fantastic ways to earn some start-up capital. Some schools also offer funding operations for small upstarts.
Tip 1: Find Your Why
No matter your age, demographic, or which My Little Pony you secretly love, the first step to starting a business is finding your why.
Why are you doing this? Are you trying to build a future for your family? Are you looking to graduate debt free? Do you not know what your passion in life is, but you know you have a business sense? Do you have a passion for helping people?
Why do you do what you do?
Finding your why takes some soul searching.
Some recommend writing down 50 reasons for why you do what you do. They need to be logical reasons for the days when your heart isn’t in it, and emotional reasons for the days when you just feel too tired to go on. You need to have a good mixture on your list of 50 reasons.
Another process is to simply ask yourself, “Why am I doing this?” And write down the first thing that comes to mind. Then ask yourself, “why,” to that answer. Keep this process going until you get to the heart of your reason why. Then, write down this core reason and post it somewhere you’ll see it every day.
Put it on a post it on your mirror. Make it the screensaver for your phone. Say it to yourself every morning. Do whatever you need to do to remind yourself everyday of why you are alive and living as you are.
This why will carry you through even the driest times and help you embrace every failure as a stepping stone to success.
Tip 2: Determine the Type
One you know why you’re going into business, you need to determine what kind of business you’ll want to do.
Are you artsy? Consider a blog or photography or an Etsy shop.
Do you thrive under structure? Consider something with an MLM feel to it. Lularue, Primerica Financial Services, or Vector Marketing are all popular options for young entrepreneurs looking to get their feet wet.
Determining the type of business you want to go into will not only help you develop your current talents, but give you an idea of where you want to go with possible careers. As you’re planning to go into business, choose classes that tailor to what you’ll need.
Maybe you need more business and marketing background. Maybe you need to take that advanced design class. You might need to change majors completely to compliment your lifestyle shift.
Sit down and determine which direction you are going in and then prioritize your classes to suit your business development needs.
Tip 3: Prioritize
Speaking of prioritizing, as you’re figuring out your school path, sit down and map out all the tasks you need to complete. School, personal, business, and anything else under the sun.
Rank the importance of those tasks and then their urgency. Cross examine them according to the importance and urgency scale to learn how to best manage your time for both your business and your life.
This is the time in your life when you learn to say “no” to things that will overstretch you and cause you to lose focus.
A well balanced life leads to a well-balanced business.
Tip 4: Use Technology
Using technology is not only a convenience, it is an absolute necessity these days. Thankfully there are several tools on the market that make running a business a snap.
The first technology to look into are scheduling and task orientation apps. These help you organize your projects so you can determine not just what needs to be accomplished, but the time and resources to accomplish them with.
Other tools that are extremely helpful are social media timers.
Social media promotion of your business is crucial for success. Having a tool that you can log posts into and that will automatically post them at certain times will free up so much of your schedule. Back log as many posts as you want and watch them flow even on the days you aren’t working.
The key with social media timers is to keep working on developing content as it goes out, so you can have a constant flow.
Overall, starting a business from your dorm is going to take work. But if you put in a solid effort and know why you’re doing what you’re doing, the sky is the limit.
Eric Gordon is an independent business development and marketing specialist for SMEs. He loves sharing his insights and experience to assist business owners in growing their revenues. You can find Eric on Twitter @ericdavidgordon
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