Steve is the founder of Wealthystudent.co.uk, A site dedicated towards helping students financially through university. although as discussed in the interview, he is looking to re-launch it into a much more success/career based site in a few weeks time.
In this interview, steve touches on some key tips especially for entrepreneurs looking to start their business int he university or straight after..
Enjoy…
Steve, how you doing today?
Very good thanks! Thanks for giving me the chance to do this interview.
Wealthy student? How and when did you start your business?
I started the business back at university in 2008. I got some funding by my university, who backed the idea and it took off from there. The prelimonary idea behind the site was to be a site to help students financially through university. The site has got sidetracked through 2009 as I got involved with another student business. I am now back on track and we are going to be re-launching with a much more success/career based site in a few weeks time.
What inspired you to start you to start the site?
I had always wanted to be my own boss and it just hit me one day that the internet was clearly an opportunity to start a business. It was staring me in the face. Anyone can start a business on the internet. To be successful though, takes tremendous amounts of perserverance, quick learning and having massive focus.
I also wanted to do something about student’s situation. I had managed to graduate with about £10,000 in the bank, just through working a part time job. Anybody could do that, too.
How difficult was it starting a business?
I found it fairly easy to get started. You need to get people around you who can mentor and help. I think the difficult part is when you get a year or two into the business and things haven’t got quite as planned. Will you still be motivated to be a success? It’s then when passion counts.
How did you raise money for your business?
I got a £3500 grant from my university, much of my savings of university went into the business.
What’s your business model?
Originally, it had been solely affiliate and advertising revenue but now we are heading into the recruitment sector.
How did you market your business?
JV partnerships, viral marketing (giving my book away), SEO marketing, article marketing – as many things as possible that get you ‘out there’. If you don’t know enough about how to do marketing on little or no budget then definitely get advice.
What are the fundamentals that you think every entrepreneur should follow when starting up a business?
• Get a mentor
• If you are setting up an online business and can’t code the site yourself then ask as many people as possible if they know anyone can, for cheap. Do not pay thousands. There are plenty of people out there trying to rip you off.
• Don’t be scared to tell other people your idea. People won’t steal it, it takes a lot of hard graft to get an idea to go anywhere.
• Write some sort of business plan. It doesn’t have to be perfect, but get something down.
• Have a vision of what you want the business to be in 5 years time.
• Set yearly, monthly, weekly and daily goals.
• Make every penny count.
• Make every minute count as much as every penny. Productivity is key when starting up.
• Make sure you are truly passionate about the business. Don’t purely do it as a road to riches. If you don’t have passion then you will give up in the end.
You’re the 2009 Men’s Health Entrepreneur of the Yr, how does that feel? And also a Part of the Observer/Courvoisier Future 500, that’s got to be cool, it sounds cool anyways?
The entrepreneur of the year was great. I had worked so hard up until that point and it was fantastic to get recognition. Being an entrepreneur can be lonely. The Courvoisier Future 500 is possibly the best thing about being in business. You get to meet some fantastic people, doing fantastic things at the networking events.
You also have a book called Defeat Student Debt, how did that come about?
I wrote the book whilst I was in the process of graduating (available on Amazon). I think I am a bit of a writer at heart and I had a lot to say about enjoying yourself at university but also doing it in a way that would keep you in good financial stead.
Who is your role model?
It can change all the time. Anyone who is at the top of their game whether it is in sport or business. Some names? Richard Branson, Warren Buffet, Steve Jobs, Roger Federer, Lewis Hamilton and (surprise entry) Ricky Gervais.
What s your favourite entrepreneurial book?
Quite a few. I’ll go for something a bit different – The 4 hour work week by Tim Ferris.
What were you doing before? What would you do if they were no wealthystudent?
I was a student before. If there was no wealthystudent, I’d probably go work and travel somewhere as that is my other passion – seeing, living and breathing other cultures.
What advices would you give to young entrepreneurs starting up?
Think big and go for it! Follow my above advice!
What next for you?
Concentrating on making this business a success and inspiring others to do the same.
Where do you see yourself in 5 to 10 years time?
I’d love to get into investing into startups that are in their infancy. After my experiences with them, there will be a lot I can offer.
Thanks for your time steve, i wish you the very best.
Check out his website Guys, Leave comments so i know your thoughts on this interview.











