Why University Graduates and Students should start their own business

Starting your own business as a student opens up a whole world of possibilities. With the advancement of technology and the Internet, there

is great opportunity for students and university graduates to enter into the realm of entrepreneurship and online business.

To start an online business, there are low barriers to entry, low set up costs and relatively low operating costs. Furthermore, it is easy enough to get recognised through the rapid advancement of social media and free advertising through online business directories.

To become an entrepreneur, in 2017, all you need is a website and an idea. Look at Facebook for example; Mark Zuckerberg started it in 2004 when he was a Harvard sophomore and it now has an estimated net worth of over $51 billion (US). Interestingly, Google also has similar humble beginnings. Google originated as the result of a research project by two Ph.D students at Stanford University, Sergey Brin and Larry Page.  After developing the algorithm for the Google search engine, the company was incorporated in 1998. Google now has an estimated net worth exceeding $32 billion (US).

If you are a student looking to take start your business online and get noticed by online business directories, we have compiled a list of why and what support you can get.

Why start a business as a student or recent graduate?

There is no better way to test your skills and learn valuable lessons at an early stage than by dipping your toes into the business world. There is so much to gain from starting an online business. Here are just some of the advantages of starting a business whilst being a recent graduate or student:

• You build your professional network of contacts.
• You gain an insight into how the business world operates, compared to university studies.
• You build valuable knowledge and skills.
• You gain an understanding of the challenges people face in business.
• You learn how to run a team.
• It looks great on the CV.
• The experience you gain can propel you forward to bigger and better things.
• You get the opportunity to be your own boss and work for yourself and get the chance to make your own dreams a reality.
• You can help contribute to society through your own business.
• There is nothing you gain or lose from the situation. If the business does not go as expected, the skills you have learnt are transferable to other business roles.
• You gain exposure to dealing with a variety of people.

What support can you get starting a business as a student or recent graduate?

A.    Tertiary Institutions

Tertiary institutions are well renowned for offering a lot of support for those looking to start their own business. They understand well the creativeness and potential of their students waiting to be unleashed.

A majority of universities have their own entrepreneurship and start up programs and often can help in the way of funding and scholarships. It is a great way for universities to encourage students to expand upon their ideas and provide monetary backing and guidance to get ideas off the ground. It is a win-win situation for students and universities alike if business ideas succeed.

B.    B2B relationships

When you are a relatively new start up, growing your business-to-business relationships is a great way to leverage and grow your support network. One of the toughest obstacles you will face growing a startup is building up your trust and reputation.

Other businesses can help you gather momentum and grow trust and reputability for your start up. For example, if you are a graphic designer and you need web programming, you could exchange your graphic design services in return for someone else providing you programming services. It helps both businesses develop and grow further.

Alternatively, you could come to arrangements with other startups for promoting each other’s work. You can share content of other early stage businesses and leverage off each other’s networks. This will help both organisations expand their reach and become easily searchable on online business directories.

C.    Seed funding, Kick-Starters and Angel Investment

If your idea begins to gain a little bit of traction you can then turn to external parties to help grow your idea and take your growth to the next level. Seed funders, crowd funders and angel investors are always on the look out for motivated students who have a great idea that is already gaining traction and can provide a return on investment.

D.    Online Exposure

It is now easier than ever to share and advertise your startup. You can sign up to free online business directories to help get your name out there. Online business directories provide startups with an avenue to get their website out to thousands of prospective customers without having to fork out thousands of dollars.

Furthermore, social media is also a great way to help grow and expand your start up. Facebook, Twitter, Instagram, LinkedIn and Pinterest are just a few of the popular social mediums you can use to share content with family, friends and prospective customers.

E.     Business Mentors

If you are starting your own business what better way to gain valuable support and experience by using the services of people who have already been successful entrepreneurs and have started their own businesses from the ground up.

Most business mentors are more than willing to lend a hand to young students and recent graduates entering into business. In fact, some business and innovation departments provide mentorship at a heavily discounted rate.

It is a great way to help you learn things at a much quicker speed than trying to do everything by yourself and in business if you learn quicker you can save more money and spend your time and energy into helping your business grow in the right direction.

 

Are you a student or recent graduate looking to start your own online business? It is now easier than ever to give it a go and we have provided you with some tips on why you should start and how you can get help through the early stages of business so your business can prosper.