Down to Business: Why the Time is Now

Down to Business: Why the Time is Now

Slide1For many, college represents an era of life like no other. New faces, experiences, and friends unite to form a unique time. If there is ever a period where failure is expected and sometimes encouraged, it is then. If there is ever a phase where experimentation is praised, sometimes required?college is it.

If you?re thinking about making business more than just a major, college provides the perfect set of circumstances in which to flex your metaphorical muscles. With a variety of free tools at your immediate disposal, there is no time like the present. But there will be, as in any business venture, some challenges. Below are several tips to ensure your success.

Take Advantage of Technology

If you?re able, make your business one that operates successfully through email. This does two things?ensures a written record of all business dealings, and adheres to the sometimes strange schedule of the student. If you are unable or unwilling to conduct business entirely over the Internet, consider hiring a person or call center to field calls while you?re in class. This way, you?ll maintain credibility with your clients and remain on good terms with your professor.

Learn Time Management

Odds are, you?ll have clients in different time zones than you are and they?ll expect to talk to you on their schedule. Be willing and able to accommodate them, even if it means readjusting your sleep schedule.

Similarly, you?ll want to make plenty of time for your business. As you would for class of homework, block of large amounts of time to conduct business and do not change them unless absolutely necessary. Hint: dinner with that handsome guy might not be absolutely necessary. It?s a sacrifice, sure?but one you?ll likely be glad you made.

Keep Organized

If you?re a full-time student running a business, you may need some help with this one. Fortunately, technology is on your side. Invest in a tablet or easy-to-use smart phone to record those details that come to you while you?re running to class.

Scan all hard copy documents so you?re able to access them anywhere, and think about using a system like Google Docs that is accessible by multiple people at multiple locations. Keep your calendar online too, and schedule absolutely everything.

Watch Your Expenses

College is expensive (just ask all of the students currently paying off student loan debt) and odds are good that you?ll be pressed for cash, even in the presence of a successful business. Learn your industry (a technique Jason Hartman recommends in any industry) and find ways to cut costs. Try not to hire anyone?even friends?to keep your expenses down.

With careful planning and utilization of your resources, you can begin a future in business while still in school. Have business ideas of your own? Share them below!?(photo credit: Ahmad Nawawi via photopin cc)

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The Young Wealth Team