Take Advantage of Being a Student Business Owner

As I continue to earn my business chops while still enjoying the luxury of being a student, I’ve realized some ways to really take advantage of being both.

Make Student Expenses Business Expenses

As long as you are in the same field for both your business and your major, any school expenses can be considered business expenses- tuition, books, supplies, etc. This might help soften the blow around tax time.

Student Discounts = Cheap Business Expenses

Over the summer, I attended Google I/O, Google’s two day developers’ conference. The going rate for it was over $400. However, they offered a student discount of $50. As in, over $350 off the normal price. WordCamp NY is offering a 50% discount to students. Usually all it takes is a student ID or email address and you can get significant discounts on things that can help you further your business simply because you are also a student. They are also business expenses and can be written off. Things like software can get dicey however, because normally they stipulate that if you are using a student discount, it cannot be used commercially. You might want to read the terms of service if you’re going to do something like that.

Access to Academia and Resources

As a student you have a number of people and resources at your finger tips. My school even has a small business center. Aside from that, you have professors who might have some experience in what you’re trying to do, or know people that can help you out. In Scranton, there are also organizations and contests specifically for student entrepreneurs, including one that can get you $25,000 in start-up capital.

Make School Work Business Work

As a student, you will inevitably get assignments to give you experience in whatever it is you want to do. If given the opportunity to choose what kind of project or assignment you can do, why not make it something you could also do for your business. I’ve made several school projects side projects. That will give you an excuse to work on side projects- plus you’ll get graded on something you can potentially commercialize.

Schools are Usually Willing to Help

Most schools like to see their students succeed, and are willing to help out the young entrepreneurs. Stanford even has its own patent office for students working on exceptional things. Check out your school and see what kind of resources they can offer you as a student. I’ve gotten free legal advice through my school, which is great when working on a good contract.

These are just things I’ve come across in my experience. I’m sure there a lot more things I am overlooking- the important part is to look for what’s out there because it could save you some time and money. Student business owners are given a lot of a chances to establish themselves before entering the real world, which is important if you don’t want to work a 9-5 right out of school.