How to start business before you finish your college?

Starting business is the most discussed topic these days among teenagers. Everyone comes with many ideas that are capable of ruling the industry but implementation part has always been the hardest one. Teenagers have ideas and energy to work for something they love. But only ideas and energy may not be enough to make you successful. There are hundreds of hurdles you need to tackle, thousands of enemies you need to defeat and millions of people you need to convince. You have to build a strongest network and win millions of heart. The most important thing is you need to serve so many people, make them happy, make them believe in you and convince them to buy your product and services. This is the only way you succeed. You may think that convincing people and selling products and services is not that hard until you actually start your business. Starting your business may be easy but doing good in business is the most challenging part. This is the reason you should learn so much and make yourself deserving for all the success before you jump into business or anything you love.  Now I will list some basic things that you require before starting a business.

Seed Capital:

You need to invest at least a little sum of money to start your own business. Business is all about using and rotating money in a good way, multiplying it and earning profit out of it. Once you start the business, you may be able to find the investors subject to your ability to convince them on risk and return.

Passion:

If you’re not passionate about business, doing business is not for you. If you’re the one with good leadership skills, ability to convince the customers and able to make other people work happily for you, you’re the one suited to start business. 

Strong desire:

If you’re thinking about doing a business, it’s all because you have a strong desire to serve many people using your product/service. Business in not only about money, primary motto of business is to serve people, make them happy and make profit out of it.

Time:
Ignoring the time you spend in college, with friends & family, how many extra hours you have now? You should be able to allocate at least 4-5 hours a day if you're going to start a business and make it successful. Waking up early adds few more effective hours in your day. You may have heard that many successful businessmen work more than 12 hours a day. Meaning, more time you have, more effort you can make to take your business to greater height. This also depends on what kind of business you are going to start. At the initial phase, you’re required to give more time than in the later stage. Once the business is in good path, you can shift responsibilities to others keeping yourself involved only in key decision making.

Network:
All of you no doubt have many friends but 90% of them are just friends. They are of no help to you. Now you have to choose good friends who can help each other to grow. Focus on finding compatible friends during your college. Also you should start meeting as many people you can. You have to attend many seminars, and also be ready to pay for it. Always remember spending for something good is worth in life. Larger the network you have, most likely is your business to succeed. 

Mentor:
Rather than learning from failure, learning from some mentor saves many years of your life. I have started many small businesses and failed. That was all either because I had no right person to advice or people around me were not of type. This is why I advise you not to repeat the same mistake that I did. At least have someone to advise you when in confusion and who can guide you to connect to right people. If you need to pay for that, please go for it. Your money spent will pay you in future.

Now please think and analyze if this is the best time for you to start the business. If yes, you should now workout to execute your idea. If not, it’s the time to invest in yourself. This means invest your time, energy, money and everything to develop and sharpen yourself. So please don't start the business until you’re ready for it. Before starting any business, always remember that there’s always less than 1% chance of your success. So always focus on building a good team. Spend like a beggar and invest like a king. Work hard and never stop learning. Learn from your mistakes and never repeat the same mistake again. 

Please note that above points are not exclusive. There are many things you should keep in mind and be careful if you're starting the business before you finish your college. I shall discuss about more point in future.

Always feel free to write me at nabishp@gmail.com.