Here are some compelling reasons from fellow entrepreneurs as to why you should start a business while you are still in college.
1. Low Risk, High Reward
College is a great time to start testing out your ideas. At this point, you have nothing to lose, because you don’t own anything. Also, you have fewer commitments compared to what you will have later in life.
This doesn’t mean that you should not take this seriously. Maybe you’ll get it right the first time, maybe not, and you will move on to something new. The sooner you start, the better.
2. Campus Resources
Universities provide excellent resources that you can take advantage of – great internet connection, meeting rooms, free consulting advice from professors, etc. You are paying big money for your school, why not take advantage of it?
3. Real-World Education
You can’t learn everything in a classroom. Starting your business is the best way to accelerate your growth. It is way harder than anything you’ll learn in a classroom, and also much more valuable than any textbook lesson.
4. Accessible Customers
Your fellow students are a valuable resource for testing out your ideas. If they don’t like something, they’ll tell you. So if you can actually convince them to pay for your product or service, you now that you have a viable offer. If they do like it, they have the power to make your product or service popular.
Successful entrepreneurs love to give advice to young entrepreneurs who are just starting out in a business. As a student-entrepreneur, you can use this one-of-a-kind opportunity to gain access to all of the people you would like to get advice from.
Today’s college students are the entrepreneurs of tomorrow. Use your time in school to get them involved in your business, before other companies recruit them. The next Zuckerberg may be the guy sitting next to you in class.
7. Career Building
Even if your idea fails, starting a business while still in college will look great on your resume. It will give you great experience and show your potential employers that you are proactive, creative, and driven.
- Compelling – captivating; gripping; evoking interest or attention
- Commitment – an engagement or obligation that restricts freedom of action; responsibility
- Accelerate – speed up
- Viable – capable of working successfully, feasible
- Mentor – advise or train
- Recruit – to persuade someone to work for a company
- Proactive – taking action to make changes yourself rather than reacting to things that happen
Questions for Discussion
- What are some of the main reasons to start a business in college?
- What are some reasons not to start a business in college?
- If you had a successful business in college, would you quit school to pursue it?