Starting Business – Business & Finance Fri, 03 Jun 2016 09:38:21 +0000 en-US hourly 1 The Do’s and Don’ts of Starting a Business in College Mon, 22 Feb 2016 05:58:55 +0000 Continue reading ]]> Many college students don’t realize that starting a business can be an excellent option for making some extra cash and getting a head start on their career goals. Indeed, starting a business – if it doesn’t make it past graduation – can look great on a resume. This is true even if your business doesn’t succeed – at least you had the gumption to try. However, when you start a business in college, you want to know some of the basic do’s and don’ts to increase your chances of success. This is the case if you are getting USC’s public administration degree or USC’s film degree. Here are some of the do’s and don’ts of starting a business in college.


DO: Think of a Low Cost and Low Maintenance Business Model

When you start a business in college, you want to make sure that it is low cost and low maintenance. There is a good chance that you won’t have a lot of money to toss around in college, so you will be starting your business on a bootstrap budget.


DON’T: Forget to Ask Your College for Permission

It is also important that you ask speak to your guidance counseling on campus before you start a business. You may think that you can start the business on the sly from your dorm room, but the truth is that you may actually get disciplined or kicked out of the dorms for starting a business without permission. You at least want to ask your RAs for permission.


DO: Make Your School Work a Priority and Your Business a Secondary Goal

When your business is up and running, you never want to put your schoolwork aside. You are in college, so you want to be doing your homework and you want to be studying for exams when they are due. If you make your business a priority, it could put a wrench in your other studies, which could be a huge problem if you actually intend on graduating. If you have financial aid, you could lose that aid if you don’t make school a priority.


DON’T: Work with Noxious Chemicals and Materials

Whatever business you launch you want to make sure that you don’t work with any noxious chemicals. If you are planning on creating any products or crafts that require unique materials while in the dorms, these chemicals and fumes could be really hurtful to other students. If you are working with chemicals that give off fumes, or even just strong paint, you may want to find a commercial warehouse and you want to wear the appropriate attire. Dorms do not have great ventilation so even a small can of paint can overpower the floor.


DO: See if You Can Get College Credit

In some cases, you may be able to get credit for your business. This is especially the case if you are going to business school. The enterprise you start could be applied to your final transcripts. Ideally, you want to ask about this before you start your business – just so that you can reap those credits.


DON’T: Start a Business and Think it Will Sell it and Make a Fortune

On top of everything, you want to be sure that you don’t hold your breath. It is very rare that you will start a billion-dollar company. In the end, the most you can hope for is a learning experience and if you start to turn a profit, you can be proud in knowing that your business is successful.