Everyone has a chance to run their own business and live the life of their dreams. However, only determined and ambitious people do what drives them and manage to achieve success. If you want to start a business, the best time to do so is while you are still in college.

First of all, you have nothing to lose - you don't have to worry about supporting your family at this age. Secondly, you have a lot of energy - right now, you have a superpower to combine two jobs, classes, and parties. Use this opportunity!

Last but not least, you have time - the sooner you start, the better. You will make mistakes on your entrepreneur way, gain new skills, lose old friends, find new ones. If you start this journey today, you will increase your chances of succeeding in the future. Here is what you need to know about starting a business at university:

Raise Startup Capital

To start and maintain control of your organization, you should continue educating yourself. If you don't study subjects related to finances and management, consider enrolling in an online business MBA course to get a new perspective on things.

It can actually pay off since many universities offer grants for effective business plans. So, don't hesitate to learn more about the contest at your school and take part in it!

Generate an Idea

A lot of things can bring you cash, especially these days, when you can offer services online. There are four main categories you can take into consideration at this point:

Academic business - you can create an app and help students with homework, food delivery, book rental etc. Also, you can gather other students and start giving extra lessons (all newbies need help with some subjects!).

Online business - if you want to start a business with a minimum or no investment, go online! Here are some ideas: direct sales, bazaar sites, drop shipping, group buying, social market trading, copywriting, etc. This list is simply endless these days!

Entertainment business - students can't get enough of parties, so think of a way you can entertain them on the weekend (let it be something legal like camping)!

Services business- a lot of young people don't know how to take care of themselves or don't have enough time to do that. That's good because you can use this to your advantage. Consider helping your peers with clearing, doing laundry, or cooking!

Establish a Professional Network

You should get to know a lot of people if you want to run a successful business. The thing is that some peers can be very helpful in your endeavours. Let's not forget that a lot of startups recruit students to move things forward. Yes, most young people will not have a decent work ethic and professional experience. However, there is an exception to every rule.

So, consider pitching your business ideas during the event on campus and see what comes next. You might find talented and motivated fellow classmates who will help you to realize your plans.

Start an Entrepreneurship Club

If there is no entrepreneurship club you can join on your campus, consider starting one! Along with other ambitious students, you will have a chance to learn about real-world business issues. Moreover, you will be able to expand your network and eventually find business partners.

Other than that, you will have a chance to ask your business-minded questions. Let's not forget that developing a business plan requires a lot of knowledge, so you can use other people's experience to your advantage.

Create a Schedule

John Doerr once said: 'Ideas are easy. Execution is everything'. To start getting to the point where you want to be, you should create a to-do list. A simple plan will help you to stay focused no matter what's happening in your life - exams, love dramas or conflicts with roommates.

Learn How to say NO

You might have a lot of incredible ideas - travelling plans, business projects, study checklists. If you think that it's possible to go on dates, learn a foreign language, work part-time, do sports, develop your business, and function as a normal person (have time to sleep, eat, take showers and be social), then there is something you need to know. It's not possible. You will not have enough time and energy to do at least one thing right. If you want to succeed with your business while in college, you should say no to some things.

It doesn't mean that you should forget about entertainment and dating for the next five years. You also deserve to have free days when you will be able to restore your energy and enjoy time with friends and your partner. Consider creating a reward system for yourself. For example, you can go out on Friday night if you have done at least five things for your business.

Some of the most successful businesses - Facebook, Dell Computers, and Insomnia Cookies were created by college students who were dreaming big in their dorm rooms. It's your chance to create something truly special. So, keep trying, and you will get there.