More and more savvy students are reaping the rewards – plenty of them financial - from small startups on the side, while they bash away at the books at college and university. There are so many talented and vivacious students out there that are just too scared or don’t have enough information about starting their own business that they don’t even try. But being your own boss isn’t as scary as you might think. There are some excellent reasons why you should go out there and spend your beer drinking time doing something spectacular. Here's why students should consider starting their own business.
During your studies, you are at a time when you have the most flexible schedule than you will ever probably have in your life. You don’t yet have serious financial commitments, a mortgage, family responsibilities and that kind of thing yet – so your time and your money are your own.
Working smarter, and not necessarily harder, will be able to get you to where you want to go without having to put in the 9-5 slog of the corporate world. Smartphones and social media platforms mean that you can stay in touch with the game while not having to sacrifice any class time; which makes it the perfect time to start getting your business off the ground.
2. Take Control of Your Future
Being a degreed individual doesn’t set you apart from the crowd anymore, and no longer will it guarantee you a corner office and expense account – in reality, it won’t even secure you a job at all. A scary amount of graduated professionals fresh out of college have to pack up and head home, waiting tables to scrape together the bucks until they are lucky enough to find a job.
But not having a college degree means that you won’t even get the job waiting tables – so you absolutely have to have some sort of college degree. But imagine graduating and having not only a job but your own company to step into at the same time. Starting your own small business while you are at college will give you a serious head start and the chance to secure your future on the other side of your degree.
3. Get It Right the First Time
Many working professionals who were too scared/didn’t know how to/were not able to start their own business before they graduated, entered the corporate world and starting building a life. 15 years down the line they faced a much higher risk factor – virtually closing the door on financial security and embracing the path to possible financial freedom. When you have a family, children, a home, and bills to pay, it is that much more scary than not having enough money for a beer at the end of the month.
Straight out of college your risk factor is low – you seriously will have nothing to lose and won’t have to tighten your belt, sacrifice a comfortable lifestyle and lie awake at night wondering if the bank is going to foreclose on your house if you don’t make a success of your business. And you can start up a number of times until you get it right without any regrets or serious losses.
4. Tap into the System
At college and university, you will be surrounded by professors and individuals, information, resources, and support that will be able to guide you along your path to a secure financial future and the exciting life of an entrepreneur. But if you don’t make use of what is around you it will be lost forever.
Find out if there are any forums or official support structures for students that are budding entrepreneurs – join them - lead them – start them, and let those who have walked before you help guide your way.