How can we start a business/Start up while studying? Which type of business is good to get more money?

Q.How can we start a business/Start up while studying?

Ans. Here, there are two different concepts :

1. Start up: If a new business activity starts with a unique(or innovative) idea which requires “Patent Right” registration then this type of business is called “Start Up”.
2. General business : If a new business activity starts with the existing ideas (i.e the idea is already implemented) which falls under the “Patent Right” of other business owners (entrepreneurs) then this type of business is called general business.

Now, let’s come to the Question.

The students who are really interested for starting a new business can do during their study.But the question is “How?”

Well, first of all, you have to ask the following questions yourself/yourselves :

Q1.Why do you want to start a business?

Q2. Which type of business do you want to start?

Q3. What is your niche business idea?

Q4. How is your business going to solve the problem of the society?

Q5. How will your business be different from others business?

Q6. Are you really interested for doing business or just feeling of doing business came on your mind after seeing others?

Q7. In which category does your business fall either “Start up or General business”?

If you got answered by yourselves and the business is “OK” for you then proceed towards planning and establishing.

Now, you have to find out exactly “In which category does your business fall?”

Case 1: If you are going to start “Start up” then

We wish you CONGRATULATIONS

In this case, the college in which are you studying will support you by the following ways:

• They will provide “GAP Year”

What is “GAP year?

Any student who want to start” Start up” then they can starting their business. The college will provide one/two year of time which will consider as “GAP year” means that the student who had pause their study e.g 3-1(say).The student after one year or two year(maximum) can restart their study from the same point (i.e 3-1).

Note: Please refer your college “Academic Regulations” book for more details.

• They will provide financial support.
• They will provide you Entrepreneur Development Cell Team for your establishment of the business.
• They will provide you a certificate which helps you to develop win trust from your customers.
• They will provide you college address for your business registration.
• Wifi, room, training etc.

In this case, please proceed towards your business activities.

Case 2: If you are going to start “General business”. In this case, there are following problems, you will face:

• No GAP year will be provided you from the college.
• No more support from the college during studying
• If you want some support from your college then you have to start the business activities after the completion of your study from the college.
• Attendance problems
• Records writing problems
• Lab attending problems
• Daily present in the classroom

Note: You may not give time for your planning of the business. Subsequently, you may not able to start your business activities.

Note: The rules & regulations of an Indian college is just like robots where you will always busy in rules & regulations of the college. I can’t explain in depth this section otherwise owner of the education system of India will cry on my answer.

But no problem, I’m here to guide you. You can start business but your business must and should be “Digital” i.e a business can be operated via digital devices such as Mobile, computer, laptop, tablet etc.is called “Digital business” e.g e-commerce, marketing, consultancy, app development etc. This type of business can be operated from anywhere even from your college campus also.

Summary :

If you have innovative ideas, please go ahead.

If you have general idea then please find the idea can be implemented Digitally or not. If no, please focus on your study and wait for the completion of your study. If yes, proceed towards your business activities…..

Q.Which type of business is good to get more money?

Ans. Generally, a business having unique idea & more demanding is good to generate more revenue. This type of business is generally called “Start up”.

All the Best for your bright future.

I hope that this answer may help you.

Thanks & Regards

Querykaro