College Startups: Strip Down to the Essentials

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College Startups: Strip Down to the Essentials
By Joel Holland
Entrepreneur Magazine - November 2009

Start small, with a basic idea and build from there.
Many college entrepreneurs think the only way to get an idea off the ground is to write a complex business plan, raise tons of money and swing for the fences with million-dollar revenue projections.

Well, good luck with that. In this economy, capital markets are so tight, even entrepreneurs with good track records are struggling to get funding.

The alternative is to start small: Scale back your big idea into a smaller, positive-cash-flow concept. Then build up savings and use those to finance your bigger vision-- leaving you with full ownership and all the eventual profits.

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