📺 Stream EntrepreneurTV for Free 📺

6 Steps to Becoming a Successful Student Entrepreneur (Infographic) You don't have to wait until after graduation to run your own business. From inception to launch, here's how to start up while you're still a student.

By Kim Lachance Shandrow

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Francois Lenoir | REUTERS

Bill Gates. Mark Zuckerberg. Larry Page. Sergey Brin. They share more than a few enviable accomplishments. They're billionaires, they made their fortunes in tech and they started their businesses while they were still students. It also doesn't hurt that they're seriously smart cookies.

However you slice it, they're all living proof that you don't have to wait until after graduation to launch your own business. And, as is the case for Gates and Zuckerberg, you might not have to graduate at all (though, to be clear, we're not advocating for dropping out).

If you're considering becoming a student entrepreneur, just like any other endeavor you undertake, you should have a clear plan -- not something like a half-assed term paper hobbled together the night before it's due. Researching the steps needed to successfully bootstrap a business from your dorm room is key.

Related: This Dropout Is Trying to Keep Kids Out of Student Debt

Here's a six-step snapshot of the basics of starting up. At first glance, it looks easy, but, as many student entrepreneurs will attest, it's very challenging, especially while juggling a course load and keggers:

  1. Evaluate your business skills, knowledge and goals.
  2. Find the business idea that suits you best.
  3. Research your competitors (and prepare to crush them).
  4. Make a stellar business plan.
  5. Seek out a helpful mentor.
  6. Register your business, open up shop and rock it.

Luckily the people behind the U.K.-based Westminster Bridge Student Accommodation and Urbanest Student Accommodation have neatly packed specific, actionable instructions pertaining to each of the above steps into the helpful infographic below. We couldn't help but notice that a good chunk of the information visualized within it hails from our very own wordsmiths, right here at Entrepreneur.com.

From inception to launch, here's how to start up while you're still a student. Good luck!

Related: How to Get the Most Out of an Intern

Click to Enlarge

6 Steps to Becoming a Successful Student Entrepreneur (Infographic)

Image credit: WSBA

Related: Why Marketing to College Millennials Pays Off (Infographic)

Kim Lachance Shandrow

Former West Coast Editor

Kim Lachance Shandrow is the former West Coast editor at Entrepreneur.com. Previously, she was a commerce columnist at Los Angeles CityBeat, a news producer at MSNBC and KNBC in Los Angeles and a frequent contributor to the Los Angeles Times. She has also written for Government Technology magazine, LA Yoga magazine, the Lowell Sun newspaper, HealthCentral.com, PsychCentral.com and the former U.S. Surgeon General, Dr. C. Everett Coop. Follow her on Twitter at @Lashandrow. You can also follow her on Facebook here

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Starting a Business

Most People Have No Business Starting a Business. Here's What to Consider Before You Become an Entrepreneur

You need to find the right business opportunity at the right time and take the right steps to beat the odds.

Leadership

AI vs. Humanity — Why Humans Will Always Win in Content Creation

With the proliferation and integration of AI across organizations and business units, PR and marketing professionals may be tempted to lean into this new technology more than recommended.

Growing a Business

Who You Hire Matters — Here's How to Form a Team That's Built to Last

Among the many challenges related to managing a small business, hiring a quality team of employees is one of the most important. Check out this list of tips and best practices to find the best people for your business.

Leadership

This Leadership Technique is the Secret to Optimal Team Performance

Through my experience in business, I've found one particular leadership technique that works better than others.

Management

7 Ways You Can Use AI to 10x Your Leadership Skills

While technology can boost individual efficiency and effectiveness, it's essential to balance their use with human intuition and creativity to avoid losing personal connection and to optimize workplace satisfaction.