Early Beginnings to a Self-Made Future

Selling lemonade in your neighborhood. Opening up a local babysitting company. Starting up a lawn mowing service. These are all examples of common entrepreneurial adventures.

An increasing number of today's college students are going out and starting their own businesses while maintaining a full course load. Perhaps you too would like to start up your own business and be your own boss.

The question then becomes: “How do I go about starting my own business?” The thought may seem intimidating at first. But you can do it.

Now that you are in college you have the chance to directly interact with a huge consumer group within the economy: your peers. You know their likes, their dislikes, what they really look for in clothes, music, and other products. This gives you a competitive advantage over many people already in the business world who do not have this direct access.

Through this interaction you may come across an idea for a new product. Or perhaps an idea to revamp an old one. And maybe you have already come up with such an idea.

Don't be afraid to share your ideas with others. This way, you can create a team with which you can work and find mentors and advisors who can help you along the way.

It's imperative that you plan ahead. Essentially, create a business plan. Have a clear idea of what you want to do and how you will accomplish your goals. Be sure to account for the costs of starting up your business. Do not forget to allow yourself flexibility for unexpected costs. Your mentor or advisor can help you with this. In addition, there are outside organizations designed to help you create such plans.

Most businesses run by college students start small. Large amounts of capital are not necessary for a successful business. So use your creativity and imagination to substitute for a lack of financial investment.

Once your business gets of the ground: network. Make contacts and form relationships with potential clients. Make use of the vast Emory campus and spread the word. Your business cannot grow unless people know it exists!

The current statistics show that most small businesses face financial failure in the first few years of operation. However, many of today's successful businesses started out with many failures in their earlier years.

This means that you must be determined. If things don't work out exactly as you have planned, don't give up. If nothing else, a failed business in your college years will give you the experience needed to succeed later on.