How to Start Any Business with 10 Hours a Week - Student Guide (Part 1)

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12 Jul 2023

5 Min Read

Constantin Stock (Guest Contributor), Nellie Chan (Editor)


Learn the tips and tricks to start your own business while managing your studies. Begin your entrepreneurial journey with just 10 hours a week!

Are you a student who dreams of starting a successful and sustainable business while still in college or university? You might think finding the time (and resources) to make it happen is impossible. But the truth is, it is possible! Using this guide, we will help you envision your business idea and provide the how-tos to start your business with only 10 hours a week.


To start a sustainable and successful business, you will need these three key elements:

  • Doing the right things — that is your strategy!
  • Making sure you do those things right — that is the much-needed execution!
  • Doing those things for a long time — that is consistency!


With these three key elements, any business of yours will attain sustainable growth in the long term. That is why it is important to start as early as possible to make progress that will lead to the success you seek!

Key Insight

If you think that business is all about luck and that you cannot control luck, you are only partially right. With these three key elements, you can basically create your own luck!


A strategy is a long-term action plan outlining your business goals, target market, marketing tactics, and revenue streams. Without a solid strategy, your business will neither have direction nor purpose. So, take the time to research your market and competitors, define your unique selling proposition, and design a plan that aligns with your goals and resources. Do prioritise your customers' needs when you strategise; do not solely focus on your own benefits!

Key Insight

unique selling proposition, better known as USP, is a statement that explains what makes your business or product different from the competition. It is a crucial part of your marketing strategy that can help you attract and retain customers.

Now, some fundamental questions that need to be answered before starting your strategy:


1. Business Goal

Business goals are the long-term objectives that a business sets for itself. They should be specific, measurable, achievable, relevant, and time-bound (SMART Goals). For example, a student-run business might aim to generate RM10,000 in revenue within one year.

  • Specific: Increase revenue by RM10,000 in the next 12 months.
  • Measurable: Track revenue growth month-over-month.
  • Achievable: Set realistic goals based on the student's time and resources.
  • Relevant: Align goals with the student's overall business objectives.
  • Time-bound: Set a deadline for achieving each goal.
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2. Target market

The target market is the group of people that a business is trying to reach with its products or services. It is important to identify the needs and wants of the target market in order to develop products or services that they will want to buy. For example, a student who wants to start a tutoring business might target students who are struggling in maths. The student could conduct market research to learn more about the needs of these students, such as what topics they are struggling with and what kind of tutoring they would prefer.


3. Marketing tactics

Marketing tactics are the specific activities that a business uses to reach its target market. They can include online marketing (such as social media and influencer marketing) or traditional marketing (such as billboards and print advertisements). The best marketing tactics for a business will depend on its target market, budget, and goals. For example, a student who wants to start a tutoring business might use social media to reach potential customers. The student could create a business page on Facebook or Instagram and post helpful tips and advice on maths. The student could also partner with influencers who have a large following of students struggling in maths.

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Key Insight

It is crucial to understand the difference between strategy and tactics. Strategy is the long-term plan for achieving your goals, while tactics are the specific actions you take to implement your strategy. Tactics are more flexible and can be adjusted as needed, while strategies are more rigid and should not be changed frequently.

4. Revenue streams

Revenue streams refer to the various sources through which a business generates income. It involves identifying and determining the specific ways in which the business earns money. Essential questions to address when considering revenue streams include: What products or services are being sold? Is it a combination of both? Are there any subscription-based offerings? By analysing and selecting appropriate revenue streams, businesses can effectively monetise their products or services and drive financial success.


5. Market research

Before you begin developing your strategy, do your research and understand your industry, target market, and competitors. Just as you would research for your assignments and projects, researching the market and industry is imperative. This will help you make informed decisions about your business goals, target market, marketing tactics, and revenue streams.

Group of students sitting on a white table discussing on the business project


Having a comprehensive grasp of your target market, marketing tactics, and revenue streams, as well as conducting thorough market research, is necessary before embarking on your business strategy. It is important to remain flexible and adaptable, as your strategy may need to change over time, which is perfectly fine. However, having a plan in place will give you a better chance of success.


Now that you have a clear vision of your business idea and understand the significance of strategy, it is time to delve deeper into the subsequent two key elements: execution and consistency. In the upcoming part of this two-part guide, we will walk you through the practical steps to turn your strategy into action and make your business dreams a reality, even with just 10 hours a week!

Have a business idea you want to grow? Incubate it at our BizPod and cultivate your 10 hours a week into a successful startup journey at Taylor's University!

Constantin Stock is currently pursuing a Bachelor of Business (Honours) in International Business and Marketing at Taylor's University. He is adept in marketing and copywriting and passionate about startups. Providing comprehensive consulting services, he aims to empower businesses for sustainable success in the complex market landscape through strategic guidance, tailored solutions, and effective communication!

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