1. What is your passion or skill. You should start a business in something that you are passionate about and knowledgeable. Remember, you're going to have to sell this, so make sure it's something you enjoy.
2. Business Plan. A good business starts with a solid foundation. Working on a business plan will allow you to work on the short and long term goals for your company and the ways in which you will go about to reach them. There are many resources online that offers templates and guides to make this process a lot easier. Take your time with your business plan. Allow those you trust to read it and offer suggestions to make your plan stronger.
3. Seek funding. After you have a firm business plan, seek investors. This can be family members, the bank, contests, fundraisers, kick starters and more. You can even put money aside to raise the funds for your start up. When presenting your plan to investors, stress the ways in which your company will make money and how you can pay them back whether through equity or interest.
4. Promote your business. In this social media age, it will be easy to get the word out about your business. Create a website, Facebook page, Twitter, blog, or whatever is relevant to your company. Get the word out and don't forget that word of mouth is one of the best ways to do so as well.
5. Set goals. The best way to stay on track is setting daily, weekly, or monthly goals. Where do you see your company a few weeks from now? A year? Work towards your goals.
6. Build your team. All successful companies are built on a great team. Being in college you are surrounded by well qualified candidates. Network and build a team that is in line with the goals of your company.
7. Stay organized. Write everything down, keep your receipts, organize your emails, planner and more. Being organized will allow you to better control the flow of your company and keep track of any payments or bills. Be smart with your money and remember that tax ride off.
2012 is here and almost gone, what are you waiting for. The time is now to take control over your destiny. If entrepreneurship is the route you take I wish you the best of luck with your journey. Remain patient, focused, and motivated. A 9-5 is not for everyone. Let me know how your journey is going. Leave comments below or mention me on Twitter at @carpeNIKA :)
Signed,
A broke (entrepreneur) student