Leader of the Pack Always the first to spot a trend on campus? Now be the first to profit from it, too.

College is a time to explore new trends-to wear the hottest fashions, create the newest drink and jump onto the latest entertainment fad. You're young, you're free, and as a college student, you're neck-deep in a plethora of trends just by being on campus--the fashion magazines watch your crew to see what's going to be hot next season. So why not start a business selling a product or service that taps into a trend, and spend your college years raking in some fad-based profits?

The key to hopping on to a good fad with a college business is getting in early. "Do it as quickly as possible--get the first-mover advantage," says Stanley B. Gyoshev, assistant professor of finance at the Mason School of Business at the College of William & Mary in Williamsburg, Virginia. "If you're starting a business like this, you don't want to be the biggest fish--you want to be the fastest fish." In other words, while it would've been cool to be the first to sell Napoleon Dynamite-inspired "Vote for Pedro" shirts on campus in 2004, it's over now.

Even though you want to get in fast, don't cut the typical business preparation short-maximize your efficiency by using your campus resources, such as entrepreneurship and marketing professors who can offer free guidance on how to launch your fad business, notes Gyoshev.