Now that you have your idea and you’re ready to dive right into making your business, you need a business model. A business model, according to Investopedia.com, is a plan implemented by a company to generate revenue and make a profit from operations. For example, a website-based company’s business model, would be to generate revenue using advertisements. If you are trying to sell a physical product, how are you going to sell that product? Where are you going to sell that product. What materials do you need? How much profit are you going to get? Is your company going to manufacture the product or is some other company going to do it?

Also, how are you going to get the initial startup money? There are many ways to get the money necessary to start up your company. The obvious one is to get a job, but in today’s day and age, the better thing to do as a student is to utilize the internet as a cash cow. With the internet, you can generate income to start up your company by selling a digital product (game, eBook, video, etc.) as long as there is a market for it. You can even make that your company!

You want to have a business model that you feel comfortable with, a set of items necessary to start up your company, and a team of people that will help you – then you’re good. Done. Speaking of that last thing…