How do Students Fund Startup Businesses and Apps when Studying for a Degree?
Students are often discovered to be running on empty. After hours working in the library, attending lectures, working part-time jobs or wasting away at parties, their schedules are usually ram packed with activities of all kinds. Of course, some have enjoyed success by running a business alongside, but it begs the question as to how this is achieved.
The answer is obvious; commitment. While students are notoriously busy, the drive to start a venture can eclipse everything else. If they want to make it work, the passion will enable them to find a way to make it happen. Here’s how they pull it off and secure the funding necessary.
University is a place for passions to be discovered, developed and refined. Any lecture a student walks into can be a moment of awakening for a business, especially if their studying a business or marketing related degree. As they are presented with researched material of other success stories, they can be inspired to put their best foot forward and do the same as those their being taught about.
Of course, what they create, at first, will most likely be small by comparison to the big names, and thus be largely sustainable on a financial level. Consequently, they can fund a passion project through a part-time job alongside their studies. If they’re creating their venture with other people and parties, then a series of part-time jobs between those involved will soon accumulate much of the funds required.
Most students are social and are tapped into the common trends and interests of their peers. Much like Mark Zuckerberg’s Facebook, many student run businesses or apps will at first focus on catering for those on the campus on which they originated. After all, it’s starting small and working for an audience that the student knows inside and out; other students!
Consequently, by unearthing a business that idea that could genuinely benefit everyone on campus, crowd funding becomes a real possibility. If the venture fulfils a much-desired need of the students and faculty, it can be facilitated not just through word of mouth, but odd contributions too. In the end, this kind of support can provide a solid foundation for any up and coming business.
Another dimension of the university experience, student loans go a long way in getting undergraduates and graduates through their studies. There the fuel that keeps everything going, allowing young scholars to persist with their talents. Of course, there’s nothing really stopping the money being repurposed, either.
Savvy students can use student loans as a means of funding their ventures, taking money from one source and redistributing it to another. Moreover, student loan companies such as Smart Pig provide a top-up on student fees, offering up extra money to be spent on anything the student desires so long as it’s paid back. Ultimately, smart students can use their money for non-traditional means, and find support from elsewhere.