Forget haunted houses. For student entrepreneurs, the truly scary moments look a little different.
1. Your idea is already a startup
You finally come up with the big idea, only to discover that three startups are already doing something similar. Scary? Sure. But existing competition can validate demand and help you identify what could make your approach different.
2. Your startup budget is …$47
The business plan calls for software subscriptions, inventory, and a marketing budget. Your bank account has other plans. The good news: starting small can push you to test your assumptions, get creative, and focus on what customers actually need before spending big.
3. Your midterm is tomorrow. Your pitch is tonight.
Both feel like they’re worth a significant portion of your future, and your coffee stopped working hours ago. Balancing classes and a new venture isn’t easy, but you don’t have to tackle everything at once. Prioritizing, finding teammates, and asking for support are entrepreneurial skills, too.
4. You have to talk to actual customers
Your biggest fear? Discovering people don’t have the problem you thought they did. Customer conversations can feel intimidating, but honest feedback can save you months of building the wrong solution and bring you closer to one that makes a real difference.
5. “So, tell me about your startup.”
Someone you want to impress asks about your idea, and approximately three seconds later, you forget every word you’ve ever known. Don’t panic: the more you share your idea, the clearer and more confident your story will become.
Don’t be scared. You don’t have to figure it out alone.
The University of Michigan’s Center for Entrepreneurship helps students from every school, college, and major build entrepreneurial skills, test ideas, learn from setbacks, and turn curiosity into action. You don’t need a startup, a business background, or a perfectly polished pitch to begin. You just need a willingness to explore.
Ready to take the next step? Explore CFE courses, programs, and events, and find your place in Michigan’s entrepreneurial community.