ALL YOU NEED TO KNOW ABOUT STARTING A BUSINESS AS A STUDENT in 2025

Starting a business in 2025 can be quite the herculean task. There are so many factors that need to be put into consideration to ensure the best outcome, especially if it is a new ‘baby’ brand.

 It gets more interesting and tasking if you are a student, and if the business would be solely by you, and in a student environment, because if care is not taken, everything could go wrong (both with the business and even your studies).

Here are some, among others, of the things you need to know before you start that business:

  HAVE A REASON

You have to have a reason for starting up a business in the first place. This is the most important first step, because it would keep you from burning out after things start getting really intense. It could be:

• To solve a problem: One of the most cliché, yet important reasons why people start businesses is to provide a solution(s) to a prevalent problem around them.

• To show what you love doing: Many people have the stereotype that the main reason you should start a business is to solve a problem, but it is not always black and white every time. It could be to show your talent or something you love doing and make a ton of money from it. Take an Artist for example. What problem does he solve?

• For personal reasons: Personal reasons here might majorly be your finances. Do not allow anyone gaslight you if the reason you are starting a business is for the money. In fact, that is the major reason it is a business, and not “charity”, in the first place. It could also be to have a backup source of income or even for experience.

• To be self- employed: A very valid and arguably cute reason to have a business is to be an employer, and not the employee. Not everyone is built for a typical 9 to 5.

    ORGANIZE YOURSELF

Starting a business is not something you just rush into. A lot of planning and factoring needs to be done, so it does not end up as a big fail. It is so important that even if you get away with it at the inception, the issues and results of it would come with a huge blow along the line. That is why most businesses fold up. Here are some of the things to consider:

• Study the market: Before you start a business, you have to observe and understand the market (of your niche, of course) and create a workable schedule for yourself. You have to understand the pros and cons, the money flow and other stuff, so that you would not be left with unanswered questions in the long run.

  
  

  

  
  

• Study the environment: You cannot start a successful business if this factor is not considered. Take for instance, if a popular eatery wants to move to a campus environment, you discover that they adjust to the environment. You have to observe the practices, customs, exposure, purchasing power of your environment.

• Have a target audience: This is a very tricky and touchy one. You cannot probably be selling something that everyone use at an outrageous price.

  
  

  

  
  

• Arrange for capital and investments: Your business plan would not execute itself. You need to source for capital and even investments to ensure that your plans are brought to fruition.

• Know what prices work for you and stick to it: When you have a metric that suits your costing, you would have no issues turning people who try to haggle them down because, if care is not taken, they would send your back to your village.

That would be all for this post. The next post would be a spin off. Please do drop a comment if you enjoyed the read.