https://www.collegexpress.com/interests/business/blog/CollegeXpress: Business Blog2024-03-29T06:46:31.095113+00:00python-feedgenhttp://www.CollegeXpress.com/interests/business/blog/best-majors-pair-business-minor/The Best Majors to Pair With a Business Minor2024-03-29T02:46:31.114596-04:00RJ Sundling<p>An education is a valuable experience that will only benefit you in life. It can help you land a job, and it’s a great way to increase your confidence and self-esteem. But when you start interviewing for jobs, you’ll be competing against others with the same educational background as you. To stand out, you’ll have to offer something they don’t. </p>
<p>Today’s society is full of entrepreneurs with products and services to share with the world—but if they don’t know how to handle the business side of their work, they need someone to do it for them. That’s why many forward-minded students pair their major with a business minor. If you want to be one of those students and give your skill set and future career a boost, here are five of the best college majors to pair with a Business minor. </p>
<h2>1. Health and Medical Science</h2>
<p>A degree in Health and Medical Science can open a vast array of doors for you. The health care field is ever expanding. It will always be essential, and employees with Health and Medical Science degrees are coveted. This degree lets you choose your preferred career path. You’ll find opportunities in diagnostic testing, rehabilitation, pharmaceuticals, and many other areas. Additionally, many graduates find employment as nurses, medical assistants, or physical therapists. When paired with a Health Science major, a Business minor will be a great asset to you. If you enter the administration side of health care, potential employers will be impressed with your business skills. And if you decide to start your own company, you’ll be able to handle the business side of things yourself.</p>
<p><strong>Related: </strong><a href="https://www.collegexpress.com/interests/health-medicine/ask-experts/how-can-i-evaluate-a-health-and-medicine-program/">How Can I Properly Evaluate the Quality of a Health and Medicine Program?</a></p>
<h2>2. Advertising and Marketing </h2>
<p>Today’s Advertising and Marketing majors have a wealth of job opportunities never seen before. Technology has provided increases in job opportunities and the ability to work remotely—geography no longer prevents you from applying for a position on the other side of the world! In the advertising and marketing industries, people often study consumer behavior, and they use their research to develop ads for products and services. A Business minor can help you understand the world of commerce. With a strong business sense, you’ll be eligible for positions such as market research analyst, brand manager, or advertising analyst. </p>
<h2>3. Social Work</h2>
<p>For those with a passion for helping others, a major in <a href="https://www.mymajors.com/college-majors/social-work/">Social Work</a> is a good choice. With this degree, graduates get to choose their focus based on their preferences working with many different types of people; from child welfare to senior assistance, thousands of jobs will be open to you. These areas allow you to help individuals get the aid they need to survive and, eventually, thrive. In school, you’ll learn about state and federal laws regarding assistance, but once you’re in the field, you’ll get the priceless feeling that comes with helping others. </p>
<p>Pairing a Social Work major with a Business minor will give you the opportunity to move behind the scenes and work on the red-tape end of the field. As you complete your fieldwork training and gain real-world experience, you’ll see the importance of this. There's an enormous need for caring, competent individuals to cut through the bureaucracy. Those who require assistance are often stuck waiting because of paperwork, but you can be the change they need by developing skills in business to make those processes easier for people. </p>
<h2>4. Accounting</h2>
<p>A major in <a href="https://www.wayup.com/guide/accounting-major-right/">Accounting</a> provides an easy segue into the business world. Those who graduate with this degree are able to find jobs in almost any industry. After all, every business needs a financial expert on their team. As you study, you’ll learn about tax laws, ethics policies, and auditing and budgeting requirements. Math is an important aspect, but much of the work today is done through computer programs. If you already have an Accounting degree, a Business minor can make you even more attractive to potential employers. You’ll have a knowledge of accounting <em>and</em> you’ll know what it takes to run a business. This gives you the full picture of how a business operates.</p>
<h2>5. Business Administration and Management</h2>
<p>Of course, a major in Business Administration pairs seamlessly with a Business minor. The minor will get your foot in the door of a company, but the major will put you near the top of the ladder. Businesses need people with skills to solve existing problems and predict future ones. You and your team will work to develop systems that help the company reach its goals.</p>
<p>You’ll also need to know how to implement policies that focus on workplace diversity and eco-friendliness. This aspect of your job will be just as important as your profit and loss analyses, and you’ll have to juggle them. A Business minor will help you understand how all of these pieces come together to form the whole puzzle and help you refine specific skills outside of what the major offers. As you make decisions that’ll affect the company (along with its customers and employees), this knowledge will come in handy.</p>
<p><strong>Related: </strong><a href="https://www.collegexpress.com/lists/list/the-experts-choice-great-places-to-study-business/120/">List: The Experts’ Choice: Great Places to Study Business</a></p>
<p>Ultimately, a Business minor is beneficial in any field. Whether you’re an extrovert or an introvert, a hands-on person or a hands-off one, minoring in Business gives you a wider selection of career paths and an adaptable set of skills. With a Business minor, you’ll already be on the road to success, no matter which major you choose!</p>
<p><strong>Haven’t picked a major yet? Find out what your colleges of interest offer using our <a href="https://www.collegexpress.com/college/search/">College Search</a> tool!</strong></p>http://www.CollegeXpress.com/interests/business/blog/best-high-school-clubs-future-business-majors/The Best High School Clubs for Future Business Majors2024-03-29T02:46:31.112447-04:00Sydney Mathew<p>Are you interested in majoring in Business in college? Do you want to stand out on your college applications? Are you competitive? Join a business club! Selecting a specific college major when you’re still in high school and have zero experience is daunting, to say the least—but various high school clubs and organizations can help you get a feel for specific industries and pique your interests. For college applications, you obviously need good grades and strong test scores, but involvement in clubs and activities is just as important.</p>
<h2>High school clubs for future Business majors</h2>
<address>
<p>Here are some of the best organizations and activities for you to be a part of in high school if you plan to go to college for Business or a related field.</p>
</address>
<h3>Distributive Education Clubs of America (DECA)</h3>
<p>According to <a href="http://www.deca.org/">Distributive Education Clubs of America</a>, this group “prepares emerging leaders and entrepreneurs for careers in marketing, finance, hospitality, and management.” DECA’s comprehensive learning program integrates into classroom instruction, practically applies learning, connects to business, and promotes competition. It prepares the next generation to be academically prepared, community oriented, professionally responsible, and experienced with leadership positions in high school and college.</p>
<h3>Business Professionals of America (BPA)</h3>
<p>The <a href="http://www.bpa.org/">Business Professional of America</a>’s mission is to “develop and empower student leaders to discover their passion and change the world by creating unmatched opportunities in learning, professional growth, and service.” BPA focuses on the professional development and future, providing the tools, skills, and experiences students need to compete, succeed, and thrive in the business world. The group also offers scholarships to members based on involvement and academic success. </p>
<p><strong>Related: </strong><a href="https://www.collegexpress.com/interests/business/articles/business-internships/best-prep-real-world-business-or-liberal-arts/">The Best Prep for the Real World: Business or Liberal Arts?</a></p>
<h3>Future Business Leaders of America (FBLA)</h3>
<p><a href="http://www.fbla-pbl.org/">Future Business Leaders of America</a> “inspires and prepares students to become community-minded business leaders in global society through relevant career preparation and leadership experiences.” FBLA’s programs focus on leadership development, academic competitions, educational programs, and community service. Chapters are available for middle school, high school, and college students as well as working professionals. </p>
<h3>Future Investors Club of America, Inc (FICA)</h3>
<p><a href="https://ficakids.com/">Future Investors Club of America</a> helps facilitate experiences and insight in the world of finance. Offered to students from age eight to 18, this club focuses on investing money, stock markets, and different finance careers. There’s so much to learn through guest speakers, training events, summer camps, and competitions. </p>
<h3>Youth Entrepreneurs Club (YE)</h3>
<p><a href="https://www.youthentrepreneurs.org/">Youth Entrepreneurs Club</a> converts textbook learning to practical application, preparing students for success in their future careers and life. YE claims to be “not just a class” and provides real-world learning experiences to over 15,000 students in more than 600 classrooms across the country. The program pushes students to successfully graduate high school, obtain a degree, and start their own business. </p>
<h3>National Business Honor Society</h3>
<p>Part of the National Business Education Association (NBEA), the <a href="https://nbea.org/page/NBHS">National Business Honor Society</a> is dedicated to engaging in the teaching, instruction, research, and communication of information for and about business. High school juniors and seniors who’ve completed three business courses with certain GPA requirements are eligible to join. NBEA also has a mobile library and newsletters dedicated to business education. Don’t see anything that caters to your specific interests? Find more opportunities and ideas for high school clubs by searching online with keywords like Economics, Entrepreneurship, Investment, Stock Market, Wall Street, and Women in Business. </p>
<p><strong>Related: </strong><a href="https://www.collegexpress.com/interests/business/articles/schools-business/colleges-great-business-programs-east/">Great Colleges and Universities for Business in the South</a></p>
<h2>The benefits of business-based clubs</h2>
<p>Joining a career-oriented club has many advantages and benefits. These groups host a variety of competitions, seminars, and conferences that look <em>great</em> on your college applications. <a href="https://www.collegexpress.com/articles-and-advice/career-search/blog/top-10-hard-and-soft-skills-all-employers-want/">You can learn skills</a> such as communication, leadership, teamwork, problem-solving, critical and analytical thinking, decision-making, time management, planning, and mathematics/data skills. A college-level Business program requires a diverse set of skills that’ll only benefit you to start developing now. </p>
<h3>What if my high school doesn’t have these clubs?</h3>
<p>Don’t have these clubs at your high school yet? Not a problem! All these nationally established groups have websites that detail the steps to start a local chapter at your school. This process provides not only a true “hands-on” business experience of implementing a new organization but also valuable lessons on initiative and leadership that can mimic a new business venture. Here’s what to do to start a club:</p>
<ul>
<li><strong>Research</strong>: Solidify which club you want to start and research the organization’s website to really get to know the club. You can start by setting up goals you have for your club.</li>
<li><strong>Register:</strong> Register the club at your school. Every school has a different process, but most of the time you have to get a teacher advisor and approval from the principal. </li>
<li><strong>Spread the word:</strong> Develop marketing strategies to recruit members. This can be done through school announcements, flyers, social media campaigns, posters, and more.</li>
<li><strong>Plan your first meeting:</strong> This meeting is <em>crucial</em> to maintaining your members and setting up the club. Focus on introducing the club and what it encompasses. Be prepared to answer questions from your peers. </li>
<li><strong>Further setup:</strong> Assign officer positions to delegate work. Create a structure for how often club meetings/officer meetings will be held. Also plan for future activities and events. </li>
<li><strong>Budget:</strong> It’s very important to plan and maintain a budget for your club. To get money, you can collect dues and fundraise—and sometimes your school may allocate money for new clubs.</li>
<li><strong>Keep meeting:</strong> You got this! In times of trial, turn to your advisor, officers, or fellow peers. </li>
</ul>
<p><strong>Related: </strong><a href="https://www.collegexpress.com/interests/business/articles/business-internships/how-make-most-undergraduate-business-degree/">How to Make the Most of an Undergraduate Business Degree</a> </p>
<p>It’s important to remember not to spread yourself too thin. Join a couple of clubs that interest you and as high school goes on, really narrow down your interests. This will help you make a greater impact on the club of your choice. Taking on leadership positions and winning competitions are what really stand out on college applications. It’s also important to remember not every club you join has to be business club—choose other clubs that interest you too. College applications want to get to know the complete individual. Whatever activity you choose, make sure it best suits your interests and is something that helps <em>you</em> prosper. </p>
<p><strong>Start searching for colleges that will admit you for all those business clubs on our <a href="https://www.collegexpress.com/college/profiles/business/">Business School Profiles</a> page!</strong></p>http://www.CollegeXpress.com/interests/business/blog/6-smart-skills-develop-if-you-want-major-business/6 Smart Skills to Develop If You Want to Major in Business2024-03-29T02:46:31.109872-04:00Sydney Mathew<p>Business skills allow businesspeople to use their understanding of human behavior in the consumer and organizational sector to promote a product or service. These skills are essential to develop as early and intentionally as you can if you plan on majoring in Business in college. The exact business skills you’ll use in your career will vary depending on your position, industry, and type of company—but some skills are universal to most business careers. Here’s a list of six specific business skills you should consider developing as soon as possible.</p>
<h2>1. Strategic thinking</h2>
<p>Strategic thinking is when you train your thinking to process in the context of achieving a goal or success in a certain project, service, or product. Being able to make decisions on the spot, weigh potential positive and negative outcomes, and consider variables all factor into your strategic thinking abilities. <a href="https://www.collegexpress.com/articles-and-advice/career-search/blog/9-tips-developing-soft-skills-graduation/">Strategic thinking taps into other skills</a> of analytical thinking, innovation, communication, leadership, problem-solving, and decisiveness. In the business world, strategic thinking is necessary for market forces, resourcing, and economic realities. Company leaders gather, examine, and combine their business's internal data and ideas to develop a strategic narrative.</p>
<h2>2. Market awareness</h2>
<p>Market awareness is the ability to assess your entire industry from a macro level, allowing companies to optimize good business plans. This knowledge is broken down into sector awareness, fear awareness, and participant awareness. It’s a clear understanding of what exists in the market and what needs to exist in the market, and how you can fill that gap. It involves being aware of market trends, market size, and market shares as well as standards of the market.</p>
<p><strong>Related: </strong><a href="https://www.collegexpress.com/articles-and-advice/career-search/blog/top-10-hard-and-soft-skills-all-employers-want/">The Top 10 Hard and Soft Skills All Employers Want</a> </p>
<h2>3. Organizing and planning</h2>
<p>Effective planning and organizing involve the ability to use logical and systematic methods to achieve your goals and track progress. It’s necessary in business to visualize your steps, organize, and modify as necessary. This requires estimating the time and effort required to achieve something, identifying and organizing resources, maintaining <a href="https://www.collegexpress.com/articles-and-advice/student-life/blog/video-time-management-tips/">good time management</a> in completing tasks, developing schedules and timetables, and establishing how to measure results. Delegation is also a part of effective planning and organizational skills; it’s important to distribute work throughout a team according to everyone's skill sets to maximize productivity. </p>
<h2>4. Team building</h2>
<p>Teamwork is a skill taught to us from a very young age, and team <em>building </em>is an essential skill in the workplace for many reasons. Being part of a successful team creates a positive work environment and builds company culture and trust. Employees can better their skills in other areas by learning effective teamwork. It helps employees be more accepting and understanding of people of different backgrounds. Team building can also foster healthy competition, which helps productivity. The better you are at learning to effectively work with and communicate with others, the more able you’ll be to contribute to a harmonious work environment. </p>
<p><strong>Related: </strong><a href="https://www.collegexpress.com/articles-and-advice/career-search/articles/career-communication/5-ways-build-rapport-people/">5 Ways to Build Work Relationships for Career Success</a></p>
<h2>5. Goal setting</h2>
<p>Goal setting means deciding what to accomplish, knowing when you want to accomplish it, and devising a plan to achieve the goal. <a href="https://www.collegexpress.com/articles-and-advice/student-life/blog/art-goal-setting-students/">Goal setting</a> and planning work cohesively with the aforementioned skills because working in business means seeing both the big details as well as the minute. When setting goals, you should follow the SMART acronym: specific, measurable, attainable, relevant, and time-bound. Goals are powerful tools that allow your business to focus on its priorities and experience success. </p>
<h2>6. Communication</h2>
<p>Businesses are run by people, for people. Communication directly correlates to how a business is run. It’s an important tool in a business both internally and externally. Communication skills are useful for negotiating disputes, <a href="https://www.collegexpress.com/articles-and-advice/career-search/blog/how-write-professional-email/">composing emails</a>, speaking one-on-one and in large groups, and talking with employees. Working on your communication skills means you’ll learn how to be persuasive and a key factor in your business’s success. </p>
<p><strong>Related: </strong><a class="large-title" href="https://www.collegexpress.com/articles-and-advice/career-search/articles/career-success-after-college/transferable-skills-college-students-secret-getting-job/">How Useful Transferable Skills Can Land You a Job</a></p>
<p>These six skills are fundamental in establishing, coordinating, managing, and executing a successful business. They’ll ensure your business is able to produce high-quality products, maintain excellent customer service, maximize profits and productivity, preserve a sustainable company culture, and more. To further your business skills, try taking on leadership roles, finding a mentor, volunteering to participate in extra projects, reading books, and furthering your education in college. </p>
<p><strong>Want to learn more about what to expect from your business education? Check out the articles and advice in our <a href="https://www.collegexpress.com/interests/business/">Business section</a>.</strong></p>http://www.CollegeXpress.com/interests/business/blog/8-ways-to-get-business-experience-in-high-school-for-college-admission/8 Ways to Get Business Experience in High School for College Admission2024-03-29T02:46:31.107651-04:00Sydney Mathew<p>Are you interested in majoring in Business when you go to college? Well, the best way to stand out on your college applications is to gain real work experience now. Real-life business experience will help you advance your skills, build relationships with professionals in the field, strengthen your résumé, and gain a better understanding of what Business specialty you want to pursue. Look into these opportunities for simple ways to add business experience to your college applications. </p>
<h2>1. Search for internship opportunities</h2>
<p>Internships are a great and common way to get real-life experience. Research companies you’re interested in on their websites and through job boards. You can also talk to family, friends, and teachers if they’re knowledgeable about internships or work in the business field themselves. If you need more advice, CollegeXpress has plenty, including <a href="https://www.collegexpress.com/articles-and-advice/career-search/articles/internships-co-ops/need-high-school-internship-heres-where-look/">articles about finding internships in high school.</a></p>
<h2>2. Create a résumé</h2>
<p>When applying for jobs, internships, and volunteer opportunities, you’ll need a great résumé. Résumés are meant to showcase your qualifications and show why you’re a good fit for the position. As a high school student, be sure to include information such as your GPA, advanced classes, contact information, class rank, standardized test scores, extracurriculars and clubs, leadership positions, volunteer work, job experience, and anything else that a potential employer would be impressed with. </p>
<p><strong>Related: </strong><a href="https://www.collegexpress.com/articles-and-advice/admission/blog/how-craft-perfect-high-school-resume/">How to Craft the Perfect High School Résumé</a></p>
<h2>3. Contact local businesses</h2>
<p>Sometimes the easiest way to get business experience is to just email local businesses in your area to see if they’d be interested in <a href="https://www.collegexpress.com/articles-and-advice/career-search/blog/be-productive-summer-job-shadowing/">letting you job shadow</a> or intern. Try to find businesses that match your interests and career goals. Then contact the business and express your interest in working with them. Email them your name, high school, résumé, and contact information. Be sure to proofread your message so <a href="https://www.collegexpress.com/articles-and-advice/career-search/blog/how-write-professional-email/">it's as professional as possible</a>; this will show the business that you’re determined to land a position. </p>
<h2>4. Prepare for interviews</h2>
<p>A company that’s interested in you for a job shadowing or internship opportunity may want to interview you first to discuss your qualifications or get to know you as a person. Be sure to research potential questions and tips before you sit down with them, and try practicing your answers to common interview questions with family or friends. This will also be useful for college admission because you may be asked to sit for an admission interview. </p>
<p><strong>Related: </strong><a href="https://www.collegexpress.com/articles-and-advice/career-search/blog/5-ways-impress-boss-big-interview/">5 Ways to Make a Great Impression Before a Big Interview</a></p>
<h2>5. Start a business or nonprofit</h2>
<p>Starting your own business at such a young age is great if you’re trying to <a href="https://www.collegexpress.com/interests/business/articles/career-business/student-entrepreneurs-time-covid-19/">showcase your entrepreneurial skills</a> to colleges. You’ll develop important skills like management and financial literacy, and your endeavors show colleges that you’re passionate about something. Think about anything you’re interested in; you could sell friendship bracelets, baked goods, lawn mowing, babysitting, tutoring, cleaning services, and so much more! You can grow your business by creating a website or social media pages. Be sure to keep track of your sales, donations, and customer base to quantify the work you’ve done. </p>
<h2>6. Sign up for a class or summer program</h2>
<p>There are plenty of beginner business classes you can take before college starts. Your high school or a local community college may offer some. There are also plenty of online classes, webinars, and seminars to sign up for to gain experience—including some that are free. Many colleges also host summer programs to promote students interested in the business field. Do some research on the top business schools to see if they have any programs that could be applicable to you. Just be aware that getting into these programs can be competitive and have fees and long application processes. </p>
<p><strong>Related: </strong><a href="https://www.collegexpress.com/articles-and-advice/majors-and-academics/blog/5-good-reasons-you-should-take-summer-class/">5 Good Reasons You Should Take a Summer Class</a></p>
<h2>7. Join a business club at your school</h2>
<p>There are many business-focused clubs your school may offer, such as DECA, Future Business Leaders of America (FBLA), entrepreneurship club, stock market club, and Business Professionals of America (BPA)—all of which offer valuable business experience and often the opportunity for competitions and scholarships. Taking on a leadership position and making a difference in the club will look very good to colleges. If your school doesn’t have a business-oriented club, <a href="https://www.collegexpress.com/articles-and-advice/student-life/blog/how-start-your-own-great-club-high-school/">make your own</a>! And your club membership doesn’t have to be limited to business groups; holding a leadership position in almost any club gives you the skills and experience business schools are looking for. </p>
<h2>8. Find a mentor</h2>
<p>Adults can offer a lot of insight about the field, so look to your community to find someone who can be your business mentor. Reach out to a person you’re inspired by and ask if you can discuss your interest in business. They may be willing to share their personal experiences, and once they see how passionate you are, they may even offer you a shadowing position as well. </p>
<p><strong>Related: <a class="large-title" href="https://www.collegexpress.com/articles-and-advice/career-search/blog/college-career-mentors-who-are-they-and-why-are-they-important/">Career Mentors in College: Who Are They and Why Are They Important?</a></strong></p>
<p>At the end of the day, you have to be creative and determined to develop your communication, data, leadership, teamwork, problem-solving, time management, planning, math, and other skills that are important to the business field. Colleges want to see that your interest in business is rooted in real experience and that you know what you’re getting into. Finding opportunities will really make you stand out compared to other applicants while strengthening your chances of getting into the business colleges of your choice. </p>
<p><strong>Sydney frequently writes about pursuing Business education as well as other helpful advice for high school students. Check out </strong><a href="https://www.collegexpress.com/authors/Sydney%20Mathew/"><strong>more blogs and articles from this student writer</strong></a><strong>!</strong></p>http://www.CollegeXpress.com/interests/business/blog/take-these-3-steps-to-start-a-solid-business-after-college/3 Important Steps to Take Now to Start a Solid Business After College2024-03-29T02:46:31.105085-04:00Maxime Croll<p>Interest in self-employment starts early these days. According to one study, three in five American teens are <a href="https://jausa.ja.org/news/press-releases/survey-60-of-teens-would-prefer-to-start-a-business-over-having-a-traditional-job">seeking programs that teach entrepreneurship</a> in and out of school. And by the time they get to college, the number of students planning to become their own bosses increases. In fact, 60% of 2022 graduates <u><a href="https://www.prweb.com/releases/intelligent_com_survey_reveals_17_of_2022_college_grads_run_their_own_businesses_and_another_43_plan_to_follow_suit/prweb18718283.htm">currently run or plan to launch their own businesses</a></u>, opting for the freedom, flexibility, and earning potential it can offer compared to traditional jobs. If you’re planning to start a business after graduation, you don’t need to wait until you have your diploma. Creating a plan now will help you hit the ground running right after your last final. Here are three important business prep steps to take while you’re still in college.</p>
<h2>1. Make connections</h2>
<p>With <a href="https://studentloanhero.com/featured/college-student-loans-worried-survey/">nearly 70% of college seniors</a> concerned with the significant amount of student debt they’ll be graduating with, it’s smart to take advantage of all the free resources you have on campus. Faculty members may be able to <a href="https://www.collegexpress.com/articles-and-advice/majors-and-academics/blog/how-students-can-find-supportive-mentors-college/">offer mentorship and guidance</a>. The career services department can also help you connect with graduates already running their own businesses—an invaluable resource if you’re planning to take a similar journey.</p>
<p>In addition, many colleges and universities offer student organizations like entrepreneur or business clubs where students can access resources, meet local entrepreneurs, and share ideas with like-minded individuals. Don’t ignore the power of internships either. Doing an internship in a field or market that interests you can be a valuable way to make connections and get an inside view into running a business.</p>
<p><strong>Related: </strong><a href="https://www.collegexpress.com/articles-and-advice/career-search/blog/how-start-networking-top-tips-and-tricks/"><strong>How to Start Networking: Top Tips and Tricks</strong></a></p>
<h2>2. Work on your business plan and seek feedback</h2>
<p>All entrepreneurs need a business plan illustrating how their great idea can turn into a successful, profitable company. When writing your plan, you need to account for <em>every</em> area of your business—from marketing to manufacturing—if you plan to sell a product. Business plans are living documents that’ll <a href="https://www.collegexpress.com/interests/business/articles/career-business/student-entrepreneurs-time-covid-19/">develop and change alongside your company</a>, so creating one now in college can give you a solid starting point and save you time. If you’re lucky, you may even be able to kill the proverbial two birds with one stone by developing a business idea for a class or project. Instead of doing the work just for a grade, consider it an opportunity to develop your plan, pitch or present it to people, and get feedback from professors and peers. You can use the input you receive to rework any areas of your plan that your class found lacking or highlight the areas that stood out.</p>
<p>Another great way to get feedback is to enter your business plan into a competition. Many organizations sponsor these opportunities for high school, college, and graduate students. Winners usually receive not only valuable feedback but seed money or a microloan to invest in their start-up costs. Even if you don’t win, the opportunity can help you test-drive your idea against others—some of which may be your actual competition after you launch your business. In addition, there are competitions for creating and delivering in-person or virtual pitches for your business, like a 90-second elevator pitch of what your company will deliver, why it’s needed, and how it stands out from others. Contests may award up to $10,000 for the best pitch presented to successful entrepreneurs. You may even be able to deliver your virtual pitch right from your dorm room.</p>
<h2>3. Start exploring funding options</h2>
<p>Besides maybe asking your parents to contribute to your start-up as an early graduation gift, there are many ways to fund your business while you’re still in college. These range from borrowing money from friends and relatives (consider them “investors”) to <a href="https://studentloanhero.com/featured/business-financing-ways/">taking out a small business loan</a> at a bank or credit union. It can be difficult for young people, especially college students or recent graduates, to obtain traditional funding. Consider how much money you’ll need for start-up costs and how much it’ll cost to pay back your loan. In addition, <a href="https://www.collegexpress.com/articles-and-advice/student-life/blog/financial-learning-why-does-my-credit-score-matter/">your credit score</a> will impact how much lenders will give, so keep your credit in check while in college.</p>
<p>Another great funding resource is the Small Business Administration, which offers online courses, mentorship programs, and other resources like a <a href="https://www.sba.gov/funding-programs/loans/lender-match">lender match tool</a>. While your business and personal budgets may be separate, knowing how much debt you’re willing and able to take on is essential. You may be tempted to use credit cards, but this can be risky, especially if you’re using your personal line of credit vs. a business card. When you’re still searching for financing, it pays to do your research before you take out a loan.</p>
<p><strong>Related: </strong><a href="https://www.collegexpress.com/interests/business/articles/career-business/5-ways-prepare-your-life-entrepreneur/"><strong>5 Ways to Prepare for Your Life as an Entrepreneur</strong></a></p>
<p>All this to say, you don’t have to wait for graduation to start your start-up! While in college, you can utilize your campus resources, research loan options, engage with business mentors and like-minded student entrepreneurs, and begin to craft a solid business plan to help you launch a great start-up once your degree is in hand. Good luck!</p>
<p><strong>You need to take advantage of everything your Business education has to offer! Check out our article on <a href="https://www.collegexpress.com/interests/business/articles/business-internships/how-make-most-undergraduate-business-degree/">How to Make the Most of an Undergraduate Business Degree</a> to make sure you’re on track.</strong></p>http://www.CollegeXpress.com/interests/business/blog/5-common-myths-you-may-hear-about-studying-business/5 Common Myths You May Hear About Studying Business2024-03-29T02:46:31.102815-04:00Neel Govil<p class="MsoNormal">Interest in business and self-employment is growing quickly these days. According to a study by <a href="https://jausa.ja.org/news/press-releases/survey-60-of-teens-would-prefer-to-start-a-business-over-having-a-traditional-job#:~:text=nearly%202%20in%205%20teens%20(37%25)%20would%20be%20interested%20in%20programs%20in%2Dschool%20or%20after%2Dschool%20that%20focus%20on%20teaching%20entrepreneurship.">Junior Achievement USA</a>, two out of five American teenagers are looking for after-school and in-school entrepreneurial education programs. More and more, students are even aiming to start their own businesses by the time they’re in college. However, like any other discipline, studying Business comes with its fair share of misconceptions that can cloud the judgment of aspiring entrepreneurs. Let’s debunk some of the most common myths surrounding the study of Business and shed light on the truth to empower future business leaders.</p>
<h2>Myth #1: You <em>must</em> be a born entrepreneur</h2>
<p class="MsoNormal">The idea that successful business owners are merely inherently adept at it is one of the most pervasive myths about the field. But <a href="https://www.collegexpress.com/interests/business/blog/6-smart-skills-develop-if-you-want-major-business/">with the right education and abilities</a>, anyone can start their own business. The skills and information you get from studying Business will help you flourish in the dynamic world of trade. You can learn about facets of entrepreneurship such as market understanding, financial management, marketing strategies, and leadership skills. Young businesspeople can improve their chances of success by studying and practicing these concepts, even if they don't feel like they were born with a "talent for business."</p>
<h2>Myth #2: Business is only about making money</h2>
<p class="MsoNormal">While profitability is unquestionably an essential component of every business endeavor, focusing simply on making money can limit the scope of what you can achieve. Forming strong relationships, adding value for consumers, and providing great goods or services are all stressed in effective Business education. Companies are more likely to develop a loyal client base and experience long-term success by concentrating on value creation and customer satisfaction. Modern Business courses also heavily emphasize ethical behavior and social responsibility, which helps create a culture of conscientious capitalism.</p>
<h2>Myth #3: Business degrees offer an easy academic experience</h2>
<p class="MsoNormal">Some people falsely have the notion that studying Business is simple because they think the programs are easier than those in other fields. But Business degrees necessitate serious academic commitment and work. Students need to master difficult financial concepts, hone their critical-thinking abilities, and apply problem-solving strategies to actual situations. Business programs also frequently demand students to collaborate and effectively communicate, as the development of cooperation and presentation skills are crucial to the field.</p>
<p class="MsoNormal"><strong>Related: </strong><a href="https://www.collegexpress.com/interests/business/articles/business-internships/studying-business-public-school/"><strong>Business Programs 101: Your Guide to Opportunities at Public Colleges</strong></a></p>
<h2>Myth #4: Business is only for those with a finance background</h2>
<p class="MsoNormal">Even though having a financial background can be helpful, not everyone needs <a href="https://www.collegexpress.com/interests/business/blog/8-ways-to-get-business-experience-in-high-school-for-college-admission/">this kind of experience to study Business</a>. Marketing, human resources, operations, and entrepreneurship are just a few of the many areas you could focus on in college. A successful firm requires a wide range of skills, and the holistic perspective of Business education enables students from a wide range of academic backgrounds to understand interconnected business operations and how they contribute to overall success.</p>
<h2>Myth #5: Business studies are outdated and rigid</h2>
<p class="MsoNormal">Some critics assert that outdated theories and methods are still prevalent in today’s business world. However, current Business education is always evolving to keep up with the quickly changing global market. Leading schools do cutting-edge research, collaborate with industry experts, and incorporate new technologies into their curricula. Additionally, online programs and certificates have democratized access to Business education, enhancing accessibility to a wider student body. This adaptability ensures that ambitious entrepreneurs keep ahead of the curve and remain relevant in an increasingly competitive environment.</p>
<p class="MsoNormal"><strong>Related: </strong><a href="https://www.collegexpress.com/interests/business/articles/schools-business/how-to-pick-a-college-when-you-want-to-study-business/"><strong>How to Pick a College When You Want to Study Business</strong></a></p>
<p class="MsoNormal">If you look beyond the common misconceptions, studying Business in college offers a wide range of advantages and chances. Graduates possess essential abilities that are transferable to many different business paths and professional choices. The wide variety of career options open to Business majors demonstrates the adaptability and significance of this field in the modern, ever-changing employment market. A Business degree can provide a strong basis for a successful and enjoyable career, regardless of whether you want to start your own business or make your mark in an existing industry.</p>
<p class="MsoNormal"><strong>Explore our </strong><a href="https://www.collegexpress.com/tags/featured-business-colleges/"><strong>featured business colleges</strong></a><strong> now to take the first steps on your journey to entrepreneurship!</strong></p>http://www.CollegeXpress.com/interests/business/blog/starting-a-side-hustle-how-students-can-turn-their-passion-into-profit/Starting a Side Hustle: How Students Can Turn Their Passion Into Profit2024-03-29T02:46:31.100613-04:00Isabel Kumar<p class="MsoNormal">Being your own boss; determining your work hours; doing something you love—there are numerous benefits of turning a hobby of yours into a business. This is an exciting prospect to many young entrepreneurs—you can run the show and pursue your passions at the same time. And when your passions are used to create something wonderful, something unique, you may even be able to make a profit. Here’s everything students need to know about starting a successful side hustle.</p>
<h2>How to identify a good business idea</h2>
<p class="MsoNormal">The first step is to identify a good business idea. One way to do so is to find opportunities or problems in your community. It could be a product that may be helpful, a solution for a particular group, or <a href="https://www.collegexpress.com/articles-and-advice/student-life/blog/how-get-involved-community-service-high-school/">an act of service</a> that would be resourceful. You can also identify good business ideas from your personal experience. Can you think of a certain product or service in your community that’s not currently available where you live?</p>
<p class="MsoNormal">Another way is to research. There are many different types of products and services out there. You may have a similar idea as someone else, but everyone has a unique way of promoting their product or service. For example, many people sell beds, but there are certain stores with great reputations for good-quality beds based on presentation, the way they’re created, and so on.</p>
<p class="MsoNormal">A good business idea is one that you’re passionate about. To identify a passionate business idea, think: What is something you would do for free? No profit, no gain. This may be a profound question, but something you would do for free is a passion. It’s something you’d be willing to do for free just to be able to pursue it—but why not share it and make a profit if you can?</p>
<p class="MsoNormal"><strong>Related: </strong><a href="https://www.collegexpress.com/articles-and-advice/majors-and-academics/blog/how-discover-and-pursue-your-passion/">How to Discover and Pursue Your Passions as a Student</a></p>
<h2>Starting your side hustle</h2>
<p class="MsoNormal">Starting a business may be one of the most difficult things to do. There are usually barriers in the way such as financial issues, a lack of skills, or even a lack of motivation. Keep an eye on these barriers. Are they actually barriers or are they excuses? There are some things we can’t control or things we’re unable to have in that present moment. However, there are things you can do to start if you want to.</p>
<p class="MsoNormal">You have your idea. Now, what do you do? It can be a bit stressful or confusing to know how to begin. The first thing you want to do is research. Yes, this can be the most boring step. You may feel to urge to skip it. I mean, how can research help? Would it really affect your side hustle? The answer is yes. Many people make the mistake of not doing their research. They just jump right in, and they’re not as successful or profitable as they would have been if they had done their research.</p>
<p class="MsoNormal">So what do you research? Whatever your passion is! Take cooking, for example. You may want to open your own online or at-home bakery. You’ll need to research the ingredients, the equipment, etc. The cost of the ingredients determines the cost of each dessert (you need to be making a profit). And with a common interest such as cooking, you’ll also need to research your competition, especially in your local community. Other things to research include <a href="https://www.collegexpress.com/articles-and-advice/student-life/blog/how-to-start-your-own-blog-in-high-school/">websites and domains</a>, how to use certain equipment, and more. Then you’ll need to research marketing. If you’re doing it in person or online, how will you get others to learn about what you offer?</p>
<h2>How to market and promote your business</h2>
<p class="MsoNormal">There are many ways to market your side hustle. Some may come easy, but others may be more difficult or challenging. If you’re ready to take your side hustle seriously, though, you’re ready to get the word out.</p>
<h3>Personal websites</h3>
<p class="MsoNormal">One way is to use a website maker. There are many avenues such as Wix, Shopify, Etsy, eBay, Squarespace, etc. All of them have special tools you can use to create a website. You’ll need to research what features they have and what would work best for you. Regarding marketing, some—if not all—website builders can advertise your service to others. However, I’ve found this can cost anywhere between $25­–$200—not the best financial option for a student.</p>
<p class="MsoNormal"><strong>Related: </strong><a href="https://www.collegexpress.com/interests/business/blog/8-ways-to-get-business-experience-in-high-school-for-college-admission/"><strong>8 Ways to Get Business Experience in High School for College Admission</strong></a></p>
<h3>Social media</h3>
<p class="MsoNormal">An easy (and free) way to market and promote your side hustle is on social media. Start by creating an account for your business, and be sure to keep it active to gain followers and keep them updated. Maintaining your presence on social media can be a tiring task. One piece of advice is to “record ahead.” If you’re planning to post three times a week, record those three times the week before to keep a schedule. Have some content ready just in case something comes up but you still want to post. Another piece of advice: Don’t get addicted. If you miss a day of posting, you miss a day. Brush it off and continue. You have a life outside your side hustle—it's on the side, after all—so you <a href="https://www.collegexpress.com/articles-and-advice/student-life/blog/balancing-act-social-media/">don’t need to stay glued to social media</a>. Also, beware of negative things people may say about your business. If your self-esteem or self-worth is lowered because of social media marketing, get off it—it’s just not worth it.</p>
<h3>Offline marketing</h3>
<p class="MsoNormal">Finally, you can also get referrals by word of mouth—just tell people about your business by talking to them about it! Explain what you sell and see if they’re interested. This is where <a href="https://www.collegexpress.com/articles-and-advice/career-search/articles/explore-careers/a-complete-guide-to-writing-an-effective-elevator-pitch/">the elevator speech</a> comes into play. If someone is in a rush, you’ll need to be able to tell them what you do in as much detail as you can but in the quickest way possible. You can also make flyers and put them around town. Don’t underestimate the power of good old-fashioned advertising.</p>
<h2>How a side hustle can benefit your future plans</h2>
<p class="MsoNormal">There are many benefits of creating your own business that relate to college. An obvious one is earning money that you can use to pay for your higher education. It will also help you develop <a href="https://www.collegexpress.com/articles-and-advice/career-search/blog/top-10-hard-and-soft-skills-all-employers-want/">hard and soft skills</a> that you can use in your future career. You’ll gain professional experience, and it may even help you enter a specific field. For example, if you’re interested in technology, you may take up a side hustle in graphic design, web development, or website and app testing. Your business can help demonstrate your interest in that career, which looks great to colleges and employers.</p>
<p class="MsoNormal"><strong>Related: </strong><a href="https://www.collegexpress.com/interests/business/blog/take-these-3-steps-to-start-a-solid-business-after-college/"><strong>3 Important Steps to Take Now to Start a Solid Business After College</strong></a></p>
<p class="MsoNormal">Side hustles can be rewarding, but they can also be a struggle. My final advice is to look at your passion and see if it would be rewarding for you to start a small business. If you decide to go for it, just follow these steps and don’t give up. You’ve got this!</p>
<p class="MsoNormal"><strong>Learn more about the field and find great colleges and universities to pursue your goals in our </strong><a href="https://www.collegexpress.com/interests/business/"><strong>Business section</strong></a><strong>.</strong></p>