There's no doubt that this year has been unprecedented in terms of the changes it has brought about. The good news is that in the midst of all these changes a unique business climate that is well-suited for college students to become entrepreneurs has emerged. With a good idea and enough motivation, you can take advantage of this climate to start a great career.
Tumultuous Waters
For long-established businesses, the changes that COVID-19 has brought about have generally been bad news. However, the struggles of older businesses have revealed opportunities for nimble and lean businesses to thrive. The best part is that these tumultuous conditions have resulted in many businesses downsizing or closing down for good. While it's unfortunate for these businesses, this "changing of the guard" has created an opening in the market that you can fill if you have the right motivation.
Quick Turnarounds
If you're going to form a new business, it's important to utilize LLC formation services to formally create your business so that your personal assets won't be jeopardized in the event of a problem. The good news is that the pandemic has made it easier than ever to form a new business using online business formation services. Since many companies are working hard to move their services online, you can take advantage of online LLC formation services, accounting, and other essentials so that your business can thrive with less delay.
Digital-Friendly
As everyone works hard to distance themselves from others, the opportunities in e-commerce have skyrocketed. Therefore, if you're a digitally savvy college student, you could easily find a host of opportunities simply by starting a new online-only business. Since owners of existing businesses are having to pivot their business models to respond to this increasing reliance on the internet, you'll be well-positioned to take the lead in your space by virtue of being a digital native.
Lots of Time
Although your classwork should always come first, the time spent quarantining is more than enough time to tinker with a business concept in addition to completing your assignments. Rather than spending your days watching online videos or napping, you can instead prepare to become financially independent much earlier than you ever thought possible. By using your time wisely to create a new business, you may be able to pay off your college loans instead of having them looming over you when you graduate.
Ask Around
Even if you're not prepared to start your own business, you may have peers who have already taken the plunge. Therefore, if you're looking to earn some extra spending money, it could be useful to ask around to see if anyone you know needs some help getting their new business off the ground. Even if you don't get rich, it will provide a great distraction in the midst of the monotony.
