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Old 31st December 2011, 02:53 AM   #1
Suzanne296
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Smile Business Venture Ideas For University Student?

Hi,

I was browsing the web for business ideas and I came across this forum, so hopefully someone can give me an idea I haven't thought of

I'm an 22yo Australian currently at university studying Bachelor of Arts (french major) and Bachelor of Commerce (Entrepreneurship and Innovation/Marketing major).

As a university student I don't have a lot of capital to invest in a venture (which for obvious reasons excludes anything with a shopfront). This is my main restriction at the moment as I still have 1.5 years of university left. I was hoping to start a small business where I could contribute my time (maybe 10-20 hours per week) to gain experience and hopefully start a successful business.

I am very logical and I would prefer to have a business plan, research the venture and set up business systems before I start. I am open minded, straight forward, organised, willing to invest my time in a venture that excites me, autonomous, a perfectionist and have strong problem solving skills.

I have (very) basic web designing skills, basic/good finance skills, good project management skills, good marketing and business knowledge but no practical experience as yet.

One of my weaknesses is lacking people skills - which I'm trying to improve. I am aware that I'm not the most tactful person which can come across as too forceful when I express my opinions. I also get extremely frustrated with inefficiency and especially when I can see how to improve a process but I don't have the authority to. However I'm willing to admit I know very little, and would be grateful to accept help from people who are more knowledgeable and with more experience than me.

I think I would prefer a business to business venture as it allows room for larger sales and expansion in the long term.

I speak french fluently which is one of my other main interests, along with traveling, cooking, philosophy, astrophysics, xbox360, micro-financing and learning about other cultures.

Ideally, I would like to start a business that benefits someone other than myself. At the very least by donating a percentage of the profits to a charity, but I'm very motivated by doing "social good" rather than just a pure money making venture. Something with a positive tangible outcome to a community would suit me as I like to see the effect of my hard work (rather than just donating money and not knowing what is done with it). If I can incorporate business with philanthropy it would be a my ideal venture - maybe something like importing Fair Trade products?

Anyway that's everything that I can think of! Any questions/ideas/comments/suggestions would be greatly appreciated.

Thanks for reading

Suzanne

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Old 31st December 2011, 09:52 PM   #2
SYOBO_Works
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Default Dig Out Your Own Diamond Opportunities

Quote:
Originally Posted by Suzanne296 View Post
Ideally, I would like to start a business that benefits someone other than myself.

Suzanne
Suzanne, this is the only kind of business that succeeds. If you do not focus outside of yourself, you'll never serve a clientele. The customer is the business.

You're young and at a perfect time to venture out as an entrepreneur. But you may need some detoxing. Read this. It might help you.

Your directness and preference for process optimization are fine skills to have as an entrepreneur. Just don't let them keep you stuck in the middle of everything as the operation grows. With growth you need to delegate, that is, let others do work that they can do as good as or better than you.

Lastly, to determine what kind of business to start, look in your own backyard. You have acres of diamonds hidden there for you to mine.

Cheers,

SYOBO Works

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Old 1st January 2012, 07:13 PM   #3
Rachelz
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Default Sounds like a lot to offer!

Hi Suzanne,

First of all, the best business ideas are the ones you generate for yourself; based on a solid understanding of who you are and what you really want to achieve. Check out the BIG System (Business-Idea-Generator) - it will help you generate business ideas in ways you may never have thought of.

Based on the info you provided, you might like to consider:

- freelance interpreting (pays exceptionally and would allow you to choose jobs based on your available hours)

- visiting alibaba.com. They are a great online B2B connector, especially if you want to set up a product-based business and need ideas and connections for types of products to sell

- perusing austrade.gov.au. Look for local trade shows that you can attend to check out fair trade products and so on. Go and visit them and keep yourself open to inspiration

Also, you write beautifully, so I would not dismiss the idea of starting a blog to follow your new business journey. You are studying entrepreneurship after all. It would be interesting to watch the progress of a student turn theory into a practical experience. Blog about everything from coming up with your new idea, to planning the steps, doing research, starting out, growing it and so on.

Best of luck!

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Business Epiphany
BIG System, Personalized Business Ideas, Motivation and Coaching
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Old 5th January 2012, 01:32 AM   #4
Suzanne296
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Default Thanks guys!

Hi again,

Thanks so much for both of your replies All the information has really helped me get started and has given me some ideas that I would have never thought of.

Any other sites or information that you have found useful to begin with would be much appreciated.

Cheers,

Suzanne

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