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7 Sources Of Business Ideas For University Students

To start it is only necessary to believe in an idea, after that the 99% of work arrives.

During the moment of putting an idea into reality it will be necessary to have a business plan, planning and business insurance.

 It is essential to ensure that the business grows with reduced risk. Entrepreneurship, whether university or elsewhere, should be taken seriously, as it can be a great way to earn money and build a successful future career.

This is a guide for small entrepreneurs, who one step at a time, will add value to their communities and grow on a personal level.

Small University Entrepreneurs (who will change the world)

What do companies like Microsoft, Dell and Facebook have in common? In addition to being currently some of the largest multinationals on the market, they were all created by students and designed within the university environment.

Of course, not everyone will become the next Bill Gates or Mark Zuckerberg, but starting a small business during college is something that can prove to be quite beneficial for your career.

There are several options that require little or no initial investment and can be performed outside the formal work environment.

Entrepreneurship at the university allows you to create invaluable contacts, while generating revenue to cover the costs of studies, meals and accommodation.

Here are some interesting ideas for a new business:

1.Information Technology (IT) Consulting

The IT practice area is an area in which having many years of profession can, in some situations, be harmful.

University students, on the other hand, have the most updated knowledge and are more inserted in the universe of new technologies.

If you still do not feel confident to work as an IT consultant in the current companies in the market, offer your services on the campus of your university, to professors and colleagues, thus starting your business.

2.Social media consulting

The vast majority of university students are always attentive to the latest trends in social networks. Use this knowledge to advise companies looking to improve their network communication strategies.

Go beyond traditional Facebook and LinkedIn and introduce new channels to get your messages across.

3.Graphic design

Offering services in the field of graphic design requires more creativity and talent than years of experience in the profession.

If you are a student in the field, create a good website to expose your portfolio, print some modern business cards and start promoting your work.

4.Photography

Thanks to platforms like Pinterest, Instagram, Snapchat and Facebook, the world has become accustomed to using images to communicate.

With a substantial increase in the consumption of images and visual content, there is also the emergence of more market opportunities for photographers.

 Even if you still consider yourself an amateur professional, you will undoubtedly know techniques and technologies that can help you deliver great jobs to companies, communication and advertising agencies, among others.

5.Event organization

Students usually have great contact with event planning during the university, as they promote parties, fairs and meetings for the other students.

Being an event organizer requires attention to detail, organization, creativity and the ability to perform multiple activities at the same time.

If you have these skills, betting on this type of service can be an excellent idea. Start within the university environment to work for colleagues or for the institution itself.

However, if you want to expand your business and go beyond university territory, you will need to obtain certifications and permissions to work in the field.

Inspiration for Business Ideas

There are two basic guides for generating business ideas: on the one hand the ability to create them and on the other hand the re-evaluation of ideas that others have already outlined

Great business ideas or the ability to creatively reshape someone else’s idea can lead to success.

Ideas developed in other countries that do not yet exist in our region can be a source of inspiration when creating a business.

Another great source of ideas can be found in the movements and transformations of the world in which we live.

Business ideas usually come from one or more sources. The important thing is that, as an entrepreneur, follow a method to correctly examine all possible sources.

This way, you will find the right business idea to guide you towards business success.

Here we present 7 fundamental tips related to the ability to create ideas and re-evaluate those that others have already proposed.

Sources of business ideas

Academic education

It is natural that a person who has carried out studies in a specialty wants to practice his profession and therefore it is advisable to have a business idea in his area of ​​training.

The most important thing is that you will be dealing with sectors that you know thoroughly, which will facilitate the strategy and implementation of the business.

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Professional and work experience

The knowledge and information of a specific sector, in addition to technical and operational capabilities based on experience, can help to define business opportunities.

For example, a chef who has worked for many years in a restaurant may be successful if he opens his own business.

Social changes in the environment

In a society where the requirements and needs of the population are constantly changing, the creation of innovative ideas allows the survival and origin of new organizations.

For example, with the incorporation of women in the labor market, a market has emerged to create many companies that take care of children.

Diversity of forms of entertainment

The search for good quality leisure, cultural and artistic activities generated a variety of businesses, focusing on a specific segment. For example, companies dedicated to teaching navigation techniques, rural tourism agencies and centers, accommodation in rural houses, craft workshops, art exhibition rooms, children’s parties, etc.

Development of new technologies

The Internet has stimulated the creation of different ways of doing business. Companies that use the network as a means of work, electronic commerce, virtual markets, online advertising, are very popular and have achieved good results.

Business specialization

Today, businesses focus on what they do best, in order to offer specialized services to others to cover specific areas. This is the case of companies that produce final goods (food, clothing, etc.), companies that provide security, cleaning, logistics, information technology, etc.

Specialized publications

You can use magazines, specialist publications, business sections in newspapers and especially the Internet to find business ideas.

No matter what your niche or the size of the company, having a business plan and business insurance is essential to ensure that your business grows sustainably and with a reduced risk. Entrepreneurship must be taken seriously, as, if all goes well, it can build a future successful career.

Digital Business Inspirations

Applications aimed at small groups of consumers have become an attractive business model

With so much supply of digital applications, those that efficiently fulfill a specific objective stand out.

Apps targeting niche markets can be more profitable than generalist apps.

There are specific apps for all tastes, from those dedicated to horse lovers to those that increase someone’s influence on social networks.

The analysis refers to apps that focus on restaurant reservations, those created for wine aficionados, to cover the concrete needs of mothers, booking vehicles or even selling horses, among many others.

Develop an Entrepreneurship Project

Starting a business of its own is not a simple task, but more and more people have innovative ideas and seek to make entrepreneurship a way of life. However, having a good idea for starting a business does not guarantee that you will be successful.

Exchanging ideas with other young people or possible business partners seems to be an added value to validate the theory of those who may already have more practice in the field. The Santander X platform offers a collaborative network in which universities and entrepreneurs from around the world work together, share ideas and knowledge, and attract investments.

With the help of this starting point for all entrepreneurs, it will be easier to systematize business ideas, with the aim of developing a project in order to best implement a project and minimize risks.

What project do you intend to carry out and why?

Before developing a project, it is necessary to understand the context in which it arises. It is very normal for us to confuse the concepts and use less suitable words to refer to some aspects. That is why, you must understand how any project works.

The first point you need to reflect on is: What project do you intend to implement and why? It is important to check if you really have skills and knowledge in the area where you would like to launch yourself into entrepreneurship.

On this basis, think about your short, medium and long term goals. Write down all the ideas you can think of, whether on virtual notes on the computer, tablet or smartphone or even in the traditional notebook.

  • Evaluates all conditions well
  • To check if your business idea is really feasible, you should evaluate if…
  • You have the capacity to develop it.
  • There is a market and potential customers.
  • What would be the characteristics of this product or service.
  • Where you would trade it.
  • How much do you expect to earn from the business in numerical terms.

When you reflect on these questions, you are taking the first steps to close a deal. The better you plan the more chances you will have to succeed, as you will be able to anticipate complicated situations, think about different conditions and scenarios.

Structure the project rigorously

To lay the foundations for your enterprise there are no magic formulas, but it is essential to structure the project. According to the IAPMEI- Institute of Support to Small and Medium Enterprises and Innovation, you can include the following topics in the structure:

  • Presentation of the creator and the project.
  • Contextualization of the market and the external environment.
  • Setting goals and objectives.
  • Commercial strategy.
  • Company structure.
  • Preparation of financial forecasts.
  • Control and business management.
  • Necessary investment.
  • Attach documents and other information.

When designing the project, it is essential not to fall into some mistakes, such as making fanciful financial forecasts or writing too much accessory information.

Also, do not forget to make a good summary at the beginning of the project that allows you to explain in a few words what will follow. Also, don’t be afraid to be original and creative.

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