Starting Your Business as a Student: Stop Overthinking and Just Do It!

Having an entrepreneurial mindset isn’t a modern concept. But starting your business as a youngster is!

And with the advent of social media and the internet, it has never been easier to open a business than now.

So it seems like everyone’s opening a business left and right these days! 

Want to save up for a trip abroad? Sell some brownies on Instagram. Want to get rid of your old clothes? Sell them on Carousell!

So what’s stopping you? I know you want to do it, too.

Maybe you’re afraid of failure, and the idea of opening a business is so big and scary. Where do you even begin?

Well, my friend, I might not be able to tell you everything. Because if it were so easy, everyone would be rich. 

But today, let’s talk about the whole topic of youth-owned businesses and see if you should even have one, alright?

 Should You Even Start A Business? 

Honestly, not everyone’s suited to own a business. Just like how we all excel and stink at something, unfortunately, some people just shouldn’t start a business. 

You can second-guess yourself a lot, so you don’t think you’re capable of owning a business. But maybe that’s just how you ensure that you stay safe and meticulous.

So if you’d like to know if you would be fine starting a business or not, ask yourself:

What’s Your Business’s Purpose for You and The Consumers?

For you, is it just for money, or are you raising awareness for a cause or revolutionising a market? Etc… This can impact the way you see and run your business.

Because if you just want to kill time before school reopens, you wouldn’t put in as much effort as someone who’s trying to realise their dreams.

And for your consumers, your business’s USP (Unique Selling point) might not be as compelling if it doesn’t have a drive or purpose. Consumer culture is a thing for a reason!

 Speaking Of USP, What’s Yours? 

Honestly, I’ve seen many youths these days rush into opening businesses, especially food stands at festivals, and their stores are empty. Why?

Because they’re selling trendy food items… that were trendy years ago. A sushi bake might’ve been trendy in 2021, but it isn’t anymore in 2024.

So consider if your merchandise even has a demand and what edge it has over your competitor’s products.

Are you Emotionally, Mentally, and Especially Financially Ready Now? 

It might be exciting to launch your dream tech start-up or home baking business now. 

But you will just be digging your own grave if you’re not ready. Also, are you prepared to give up sleep, your hobbies, and time with friends and family to run your business in the initial stages?

However, as they say, it’s better to have love and lost than to have never loved at all, right?

Ikigai in Youth-Owned Businesses

As I mentioned earlier, a lot of youths are opening their own businesses these days, and some great ones are Bhabie’s Market, Siësta, and I’m pretty sure you know at least one lash or nail tech who’s your age, or a friend’s friend.

One commonality with youth-owned businesses is that they’re passionate about what they’re doing. 

This is something that we can all learn from them, as it’s extremely rewarding to live once you’ve found your ikigai.

Ikigai is a Japanese way of living where you find your reason to live. So if you’re able to combine doing what you love with something you’re good at and something the world needs, and best of all, it’s something that you can get paid for, you’ve found your ikigai!

Isn’t that an amazing life to have?

So when you’re coming up with your business concept and plan, think about how you can monetise your hobbies, interests, and passions by making them something new that the world needs!

The Final Push To Start Your Business

However, I’m assuming that you already have a business idea if you’re reading this.

But you see, like most people, teenagers tend to overthink. But I hope that you, the amazing and capable person reading this, realise that there isn’t really a reason to.

Sure, there’s careful planning, excitement, and nerves. Even feeling a little bit of nervousness is good too! But there’s also the useless overthinking and panic that leads to negativity.

Then you might not end up experiencing the benefits of having your own business!

Like earning your first salary yourself and financial freedom (although it will probably take some time), and all of the valuable practical life experiences and “street” smarts you’ll pick up

Conclusion

It is so exciting to come up with the concept for the business that you’ve been dreaming about for years. But that shouldn’t be the only thing you’re preparing. Before you actually start your business,

Consider taking an online business course to prepare yourself first. 

Create a solid business plan (and a rainy day plan too) first. A business is not something you can just rush into willy-nilly unless you’re from a rich family and don’t need to care about losses. 

What do you want to achieve out of this business, and where do you see it heading in the future? 

Lastly, consider that it may not be the most ideal time for you to start your business right now.

Otherwise, here’s to good luck and as smooth a sail as you can have on the rough seas out there, from me! 

Owning a business requires good knowledge of math, POA, and languages. SmileTutor’s tutors can help you realise your dream!