What I’ve Learned from Owning a Business in College
Beginning in 2018, I started to design and create custom hand-painted jackets for friends and family.
The response to these jackets was so positive that I decided to start selling them and eventually turned a hobby into a business. As an 18-year-old, I had absolutely no business experience, nor anyone helping me who did. I learned valuable business lessons through failure…and lots of it. Looking back, over two years later, those failures not only contributed to a more successful business but taught me valuable lessons I can apply to my everyday life.
Time Management
Managing school, work, and my business can oftentimes be overwhelming. Having such a packed schedule has taught me the art of time management and the importance of incorporating relaxation time. Meeting deadlines and due dates may seem like a simple task, but when dozens of due dates are being thrown at me from bosses, teachers, and customers all at the same time, the to-do list gets pretty lengthy and daunting. In order to manage this never-ending list, I do my best to take my tasks day by day. Each Sunday I sit down and plan out my week based on due dates, making sure to incorporate downtime to refuel and avoid burn-out. After that, I only look at what I need to get done that day to make each task seem a little more manageable. Once a task is complete, I get to do the most satisfying task of them all: cross it off my list.
Organization
When you own a business, time is money, so efficiency is key. Knowing where each jacket order is in the process and knowing what materials I have or need is more than necessary for success. In order to keep track of all this, I have to record everything. Sometimes it can be tedious, but it makes life easier in the long run and has translated over to my personal life. I have also learned that keeping everything in a designated spot has saved me a lot of time and heartache when I lose something, because it rarely happens. My home is my office, so I need a clean working space to complete and package orders.
Communication
Working with customers to customize orders or close a sale has taught me how to better communicate with people and understand what they want. Listening is key; the customer is always right. You can give them ideas, but they are ultimately the ones deciding to go farther in the ordering process. This has taught me the art of listening in my personal life, which has come in handy when helping friends or family. People now seek me out for advice. Also, working in a retail business, there are always unhappy and rude customers. Dealing with these individuals has taught me the art of patience and to ‘kill them with kindness’, something I’ve always struggled to do. Being rude back to a rude customer will only hurt my business in the long run, so I have learned to be polite and understanding, even when others are not.
Budgeting
Most college students live on a tight budget. Not only do I have to keep my own living costs in mind, but I have to account for the costs of my business. Since I have sole ownership, a cost to the business is a cost to me. As a business, it is 100% necessary to keep track of profits and expenses to make sure you are profiting or at least breaking even. Keeping track of purchases and budgeting to allow for these purchases has taught me how to manage my own personal bank account and be able to budget my money. Finding the best quality for the lowest price is essential to running an efficient, profitable business. This has taught me to find new, creative ways to cut costs as a college student and learn to shop around for the best deals within my budget.
While all these life skills are helpful in my day to day life, my biggest takeaway from my experience as a business owner is my passion for my work. I have loved every second of my experience and have learned that once I graduate, I want to take the route of entrepreneurship. I can honestly say, the old saying rings true: “When you do what you love, you’ll never work a day in your life.”
Bell well, Auburn.
Photography: Emily S.
Writer
Born in California, but raised in Maryland, Emily attends Auburn as a legacy to her father who raised her to be an Auburn Tiger. She studies hard to get her degree in marketing to one day own her own gym. When she is not studying or working, you can find her at the gym, painting, working on the UPC visual media committee, or at a Delta Sigma Pi meeting. Emily has a passion for art, photography, and fitness, and enjoys combining them in her work with the Rec. She loves to stay busy and is always on the go. Her favorite way to relax is… Nothing! She never slows down and loves it. Her secret to success is iced coffee and lots of it.
