With so much assignments, classes, parties, and more to engage you as a student, starting a business may be the last thing on your mind. But in it’s entirety, it shouldn’t.
Starting a business on campus when you’re still a college student is a great experience that could bring with it both positive and negative rewards. With access to thousands of potential customers (other students), setting up a business that caters to a student-specific need or another is a smart move for any business savvy college student.
Instead of focusing on how to start a business in college, this article focuses on why college is the best time to start a business in Nigeria, Kenya, the United States, and anywhere else in the world.
See Also: 10 Profitable Small Business Ideas For College Students
Here Are 7 Reasons College Is The Best Time To Start A Business:
1). You Can Make Mistakes:
No one criticises a college student who makes business mistakes, after all, you’re seen as not yet operating in the real world. The luxury being a college student awards you, is that you can start a business and even run it to the ground, with only a few people raising inauspicious eyebrows in your direction.
With this safe margin of little to no criticism, you can try out as many small business ideas and marketing strategies, as possible. Trying different things and failing at them, will teach you a lot about being an entrepreneur, will teach you a lot about what works and doesn’t work in the market, and will teach you the true essence of perseverance; which would ultimately determine your success.
2). Students Can Be A Great Source Of Cheap Labour:
College gives every student entrepreneur the advantage of hiring cheap labour for their businesses (by cheap, I mean low-cost).
The reason labour is cheap on campus is because most students have very little allowances to spend through the semester. These sums are sometimes finished within the first few weeks, and they end up stuck, looking for one way or another to get by the next month.
Hiring college students then makes your recruitment process easier, and ensures your profit margins stay higher than expected.
See Also: Want To Make Money Off Students? Here Are 10 Things They Can’t Stop Buying
3). You Have More Time & Control Over Your Activities:
Unlike most people in the corporate world always working their way through the day with little time to focus on their dreams, you the college student have all the time in the world.
As a student, you can start a business at your spare time (which is extremely wide), and focus on your school work through the remaining time.
With too little obligations and commitments, you can spend your time researching what small business ideas could work in your university. You could also spread out your after-school time to cover your business activities on campus, in order to ensure whatever you venture into succeeds.
4). You Have Free Resources:
The library gives you a wealth of information to learn from. From different book shelves covering different fields, you can gain a comprehensive knowledge of whatever you’re trying to do.
The free internet at the library also gives you a stronger research advantage. Since having cash to live through campus as a student could be hard, you could take advantage of the free internet to make your small business researches, and also expand your knowledge.
See Also: 10 Ways To Build A Successful New Business
5). You Can Find Out Earlier If That’s What You Really Want To Be Doing In Life:
Since you have no real obligations or queries regarding the failure or success of any business you start, you could try out as many opportunities as possible that you discover on or off campus. Doing this while you’re still a college student gives you an opportunity to discover your passion weigh ahead of time.
Starting a small business in school would give you a sense of direction and purpose through your journey, and one day, you just may find what you’ve being looking for.
6). Publicity:
College students always love to talk about other college students that are creating an impact (especially when that also impacts their finances). With a plethora of students that can’t wait to talk about the next amazing thing they see happening on campus, you can be sure of some free publicity when you start a thriving business in school.
See Also: 15 Profitable Small Business ideas for Beginners In 2016
7). It’s A Big Plus For Your Career:
Whether any of the businesses you start in college succeed or not, stating your business journey through your startups in your resume, would be a big plus in landing you your dream job.
Most organisations love go-getters, especially when they’d be active in the marketing department. With a track record of some form of marketing success in college, your resume could convince employers that you’re right to be on the team poised for the organisation’s growth.
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What are your thoughts on these 7 reasons college is the best time to start a business? Let me know by leaving a comment below.
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i started a web development business while i was in my 3rd year in school, was very hard then to get clients, but that early mistakes and experience as really help me in running same business now with staffs, your article is a must read
Thank you for reading, Nath.
Nath your comment is senseful, it is the important of starting small and young.
Stan, this post is an article our teenage should read to help them start discovering and testing the ground before the big goal.
My own thought is this, you can never become a master by getting degree, get experience and become perfect.
Thank you.
Thank you for reading, Ebube.
Great article! I love that younger people are starting businesses these days and doing really well! Now is always the best time to start a business – why wait?