>> What advice would you give college students about starting a business?
You are not as experienced as you think you are.
I wish someone I respected had told me this when I was a college student. In college, I thought I was super-awesome. I thought I was already a leader. I thought I was qualified to manage a 100-person company. I thought I didn't have much else to learn; I just wanted to start a company so I could grow it and sell it and make a ton of money like everyone else.
Now I know that I am merely above-average and lucky. I know that for every problem I face, there is someone more experienced than I who has already solved that problem, thrice-over, and wants to help me. If I had known this 10 years ago, I think I would have sought out a lot more advice, been much more receptive to criticism, and been a better entrepreneur.
Note: obviously this is 100% personal and anecdotal. I may have been the only a-hole in college who needed to hear that message, so YMMV.
You are not alone, I'm the same boat here. The thing is the experience is something that you don't get until just after of needing it.
(Still a college student, but what I've been told...)
-Use the resources available to you as a result of your undergrad status. Free multi-thousand dollar industry reports, free legal advice from law experts/professors, free tech advice from tech departments, etc -On-campus tech transfer offices offer further advantages