Flush the Toilet: Young Entrepreneurs

If it is your goal to create a business that focuses on college students, then there is no better place to study your target audience than college. The most important lessons that I have taken from college are: a deep understanding of how students think, how they interact with each other, and most importantly, what they are looking for in life.

While in college, the student entrepreneur (you) must constantly be studying. Now, when I say studying, I’m not only talking about books, I’m talking about your fellow students, friends, and even other students that you come across in the bars (you’re 21, right?) and clubs.

Here is a list of 6 things that I keep in mind while brainstorming ideas of how to create student-focused businesses:

1. What are other students reading? I like to know what topics other students are interested in reading because people usually read about things that they like, right? Knowing this information will help me understand the latest trends in student content. If I find that many students are reading books from a certain author, then I’ll go pick up a copy of that book, read it, and try to understand what compels so many students to read this particular book. What sucks them in?

2. Keep a look out for habits, the bad and the good. Do you notice many college students keeping their dorm rooms absolutely dirty and filthy? If so, this may motivate you to start a room cleaning service. Do you notice many students constantly forgetting to check their schedules before going to class, causing them to forget to bring books, homework, etc.. If so, this may motivate you to create some type of online service that stores students schedule information.

This is the way that you have to train your mind to start thinking. You must become and think like your clients do. If you can lock into a habit of students, then you can create a business around that habit.

3. What are they doing online? Try to keep up-to-date with how other students are using the internet on a daily basis. Ask your friends to list services that they wish were online and available for them to use.

4. What are they doing for fun? Find out what students like to do on their spare time. Do they like playing video games, going to poetry readings, drinking, going to clubs, or just hangin’ around the dorms all night playing poker? If you know what brings them joy, then you’re already off to a great start.

5. What’s the latest technology? Is it the ipod, blackberry, or the latest DVD player on the market? Try to get a good understanding of how students are benefiting from technology, and more importantly, what they are looking for in technology. So many times I have heard students complaining about how hard some technology is to use and I couldn’t help but think how I could create something easier to understand.

6. How are other students making money? Find out where students are working, where they are applying to work, and what jobs they plan on seeking in the future after they graduate.

A few months ago a friend of mine told me that she likes to paint portraits of people. After hearing that, I immediately set up a website that allowed her to reach a wide audience online. She was happy to finally be making some money from her talents, and in the process I also made some money via small commissions here and there — Win-Win, baby.

Putting all of this information together when brainstorming about starting student-focused businesses will get you off to a great start.

Just keep on absorbing everything and your mind will start to create patterns which will help you see and understand what students are looking for.