7 Reasons to Start a Business While in College

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The ultimate goal of all degree-earning teenagers is getting a job after graduation. A common misconception is that one has to wait four years for the integration into the working world. There are countless stories of successful young entrepreneurs from all over the world. Many of them have become millionaires (some even billionaires) before their 30th birthday. Starting a business when you’re studying in college is a great experience that could bring positive rewards:

  • If your idea turns out to be feasible, you’ll get a steady source of income. There are plentiful uses for extra money on campus.
  • A startup is an opportunity to put your knowledge into practice. Classroom education cannot match the knowledge and skills learned from real-world experience. It is running a small business and not paper writing or making presentations that will help you grow professionally.
  • Whether a startup you launch in college succeeds or fails, the entrepreneurial mindset is a skill that brings a huge plus to your resume, thus drawing you near your dream job.
  • Managing a business force you to grow and mature faster. Life's valuable lessons are best learned from the first-hand experience.

If these potential benefits are appealing to you, then keep reading and discover why getting a creative head start in college is a good idea.

1. You’re in a low-risk, high-reward situation.

In college, a student can totally focus on oneself. There are relatively few commitments and obligations in life as compared to the later stages of adulthood. You have no well-settled position, good salary, and established a professional reputation. You’ve got nothing to lose. In the worst case, you’ll go back to doing what you’re doing now.

It’s acceptable for students to make mistake. No one will criticize you for your business failures. After all, you aren’t seen yet as operating in the real world.

2. You have access to the abundance of resources.

As a college student, you can use numerous free resources that would cost you some cash after graduation. Whether you decide to design an app, organize walking tours or launch a personal training program, there’s practically anything you need to prepare for your business.

Fast internet connection, superb computer labs, largely discounted student software, fax and copy machines, printers, scanners, a vast collection of library materials, gyms, conference facilities, meeting rooms … should I continue? You’re paying the tuition, so you may make the most of any necessary resource.

3. It’s easy to find business partners on campus.

Students may have no experience. But think about it this way. They’re creative, passionate and energetic. They’re the prosperous entrepreneurs of tomorrow. You can recruit them now when they don’t even realize what they’re capable of.

If you’re good at writing and decide to start your own academic paper writing service, then who else will help you with that? Professional essay writers and editors won’t be likely to work at your still non-existent company. Think of it as architects designing a house with a solid foundation together. It is your mates who can help you develop your business from the start by producing quality academic papers of different types, designing a website and helping your startup go viral.

4. There’s a huge test market/customer/employee base on campus.

College students can give you valuable feedback on your product. If you want to pursue a bakery business, you can give your cooking “masterpiece” to your friends, friends of friends and other people around you. Ask them whether they like it and how much would they pay for it if they decide to buy it.

With a plethora of young people that can’t wait to try and talk about the next big thing happening on campus, you can be sure of getting loyal customers.

Students can also be a source of cheap labor (by cheap, I mean low-cost). Many learners run out of their limited budgets very fast and then look for every opportunity to get by the next month.

5. You can get mentoring from one of the smartest people in the world.

College is a center of potential advisors. Professors in different fields together hold a significant wealth of knowledge. Moreover, many of them have real-life experience in the related industries. Instructors are willing to tap into their expertise to help students launch their companies. They went into academia to help learners in the first place!

There’re more open doors in front of the students. If you contact a CEO’s assistant and say: “I’m an NYU student and I’m starting a technology blog. I’m searching for some advice. ”, you’ll probably find it. Successful entrepreneurs will rather help a young entrepreneur than a competitor with an ulterior motive.

6. Students are eligible for special funding.

Many colleges and universities offer different business-related scholarships and awards, as well as a variety of business resources. Make inquiries about whether an option is available for you.

There are also plenty of organizations that are aimed at helping students to become entrepreneurs. Check out the Student Entrepreneur Award, the Global Student Entrepreneur Awards (GSEA), the UPS College Entrepreneur Contest, or any other business grant programs you will be able to find.

7. You have more time.

Of course, students are very busy people. They have classes, academic paper writing, reading assignments, social commitments, personal life. But do you think you will have more room for your entrepreneur ambitions in your adulthood? The older you get, the busier you become.

In college, students have the freedom to create their own class schedule every quarter/semester. Your time will suddenly become very restricted once you join the workforce. With strong time-management skills, you’ll be able to write your essays on time and work towards bringing your dream to life.

 

Don’t wait too long before starting your own business. It may be the biggest mistake. If you’re still in college, now is a good time to take action. The earlier you launch your project, the sooner you will reap the rewards.

 

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