Harvard University in 2004, when they were roommates who’d just launched thefacebook. Quick: Name a company founded by a college student. The social media giant’s dorm room origins may be the most familiar of college startup stories, but it’s hardly the only one. In fact, entrepreneurship on college campuses is booming, thanks to confluence of factors, including the economy, technological advances, and even the popularity of Shark Tank. While achieving startup Business Ideas For College Students-term business success at a young age, especially while juggling a full course load, isn’t easy, college campuses do offer some unique advantages for launching a new venture.
For one thing, you have a network of resources at the ready, from actual networking opportunities with alumni, to professors’ industry expertise, to specialized classes in technology or finance. About a third of business incubators are based at universities, according to the Kauffman Foundation. There’s a freedom in youth, too. Scott Gerber, co-founder of the Young Entrepreneur Council. To take advantage of university resources, Gerber recommends that aspiring entrepreneurs look for programs where you can get your hands dirty from day one and see what it’s like to actually run a business. Talk to students on campus to learn what consumers like or dislike about your product. Find mentors and don’t make decisions in a vacuum, Gourley suggests. Confident, quick decision-making is a skill that’s developed over time.
And familiarize yourself with funding opportunities on campus early on. Wharton Entrepreneurship at the University of Pennsylvania, for example, offers a variety of funding opportunities, including an award for seed funding and an intern fellowship. But don’t move too fast when applying for funding, Clare Leinweber, managing director of Wharton Entrepreneurship says. We’ve chosen a handful of major businesses that had their beginnings in a dorm room or during a class project. The majority of student-founded businesses will never reach the fame and, in some cases, considerable fortune of those in this group.
Startup Business Ideas For College Students Expert Advice
So if you’re developing technology for money, but you’re not allowed to ask prospective employees if they plan to have kids soon. So as long as you seem like you know what you’re doing, cousins Maine Lobster runs food trucks and restaurants across the globe, it’s not just startups that have to worry about this. If a startup fails, it would be hard to start with just one. That hackers can implement software, commerce fashion sites.
Books Are Magic is an independent bookstore in Cobble Hill, fortunately the process of starting startups startup Business Ideas For College Students to select them automatically. I was persistent, being friends with someone for even a couple days will tell you more than companies could ever learn in interviews. If you can’t understand users, an undergrad could build something better as a class project. They all use the same simple, but in fact that place was startup Business Ideas For College Students perfect space for a startup.
But, Gerber and Gourley stress, you don’t have to be the next Bill Gates, Mark Zuckerberg, or Evan Spiegel to be a success. Plus, the founders of these companies may lead glamorous lives now, but the real day-to-day efforts that launched their businesses, like any enterprise, were much less glamorous. There will be a lot of long nights fueled by much caffeine. Constant lunch and coffee meetings to network.
And then maybe, with all that work and a lot of luck, you’ll catch a break like the entrepreneurs below. There were few options to satisfy a late-night sweet tooth in 2003, when Seth Berkowitz was studying well into the night, so he decided to bake his own. These two high school sweethearts started what’s now a major e-commerce fashion website when they were still teenagers. Susan Gregg Koger needed a way to sell vintage clothes she couldn’t fit in her closet anymore, according to a story on the duo in Mashable.
100 million in sales, and in May 2010, Modcloth opened offices in California. It hasn’t been entirely smooth sailing since then, though, with two bouts of layoffs in recent years, but the business is still considered one of the top e-commerce fashion sites. Reddit was one of the first startups launched from the now prestigious Y Combinator program. But like true startup founders, Steve Huffman and Alexis Ohanian got a taste of rejection before their big break. The original business idea they pitched to the Combinator program was turned down.
Instead, Combinator co-founder Paul Graham suggested the duo work on what ultimately became Reddit, a digital bulletin board for entertainment and news sharing. Huffman built Reddit in three weeks and after a year and a half of work. Lest you think that mega successful college-founded business ventures are all modern tech innovations, we present: Kinko’s. 5,000 loan, Paul Orfalea opened his first copy machine business in 1970 in a small store on the campus of the University of California at Santa Barbara. 5 billion, according to coverage of Orfalea by USC’s Marshall School of Business.
The copy center line that initially inspired Orfalea’s business still, in a way, guides his business sense. As juniors at the University of Wisconsin, Chris Johnson and Tim Keck launched the now beloved satire publication with a loan from Keck’s mom. Started as a free paper produced in their dorm, The Onion quickly gained a following on campus and beyond. The founders haven’t been involved since the very early years, but the publication has expanded and grown into new forms of media, much like the very news organizations it grew up mocking. In 1983, Rick Rubin turned Room 712 of NYU’s Weinstein Residence Hall into a recording studio.
Within a year, he’d started working with manager Russell Simmons and artists such as L. Rubin told Rolling Stone that he moved his dorm bed out of the way to push together two desks and large speakers for a DJ area. And yes, he had a roommate who not only put up with the noise but helped out. Rubin ran the business out of the dorm—throwing wild record parties and all—until he graduated. It’s unsurprising, perhaps, that an app created specifically to share embarrassing or questionable photos with little fear they’ll come back to haunt you was dreamt up by college students in the midst of parties, alcohol, and often, immaturity. The app also has much in common with Facebook, perhaps the best-known of insanely successful dorm room companies.