Success stories like Mark Zuckerberg’s or Ewan Spiegel’s show that the earlier you start your business, the more you can achieve. Both of these entrepreneurs are not even 40 yet – and look at how high they’ve already climbed.
Zuckerberg mentioned in his speech for Harvard’s class of 2017 that among the reasons for his success there was one that’s often overlooked: luck.
And he didn’t mean that kind of luck when you just happen to be in the right place at the right time, but the advantages that he had when he started Facebook, – i.e. being young, having a supportive family and no serious responsibilities.
Basically, these are the three main reasons why you should be eager to try entrepreneurship during your student years. But there are more, too. Let’s look at them all more closely.
Youth and Inspiration
Ask people over 30, and most of them will tell you that student years were the most inspiring time of their lives. While you’re young, and studying something that you really love among people who share your interests, you feel like everything is possible.
You may think that it will always be like this, but for the absolute majority, it won’t. So, use your inspiration, self-assurance, and confidence to the maximum.
If something goes wrong, you’ll still be young enough to start over again, or just find a stable job and try your luck as an employee. Whatever you choose, your experience will cost you much less while you’re a student.
No Responsibilities and Plenty of Free Time
Most students think that they’re loaded with academic responsibilities to the maximum and don’t have any time to spare.
That may be true, and we’re not underestimating the hardships of studying. Also, we’re not talking about those who have to work to support themselves or their families or pay loans – for them, the time for starting a business has probably not come yet.
But the majority of students are supported by their parents, have a bearable workload, no families of their own – and do have plenty of free time. If you think you don’t, try to analyze how you’re spending the time you have. Is your time-management effective enough? Probably not.
If you find out that you spend nearly all of your time on academic assignments while getting no real-life experience – it’s not too good for you. In this case, consider delegating some of the tasks.
Access to Free Resources and Mentors
Have you ever thought of your professors as of business consultants, and of your campus as a gold mine of free resources?
While being a student, you have access to a vast infrastructure: spare rooms and auditoriums, fast internet connection, computers equipped with all kinds of software, and more. Once you graduate, you’ll have to pay for all of these out or your own pocket.
Also, your professors, who are in most cases willing to give a free consultation to their inquiring students, will not be so willing to consult ex-students free of charge. And business consultants do charge a lot.
As a student, you can even try to ask successful alumni for advice, or any other business people you like. Chances are, they’ll be more likely to help an inexperienced youth than lend a hand to someone who already has experience of their own.
Access to Possible Co-Founders and Customers
If you need partners, then educational institutions are the best places to find them at. Your peers are as free and inspired as you are, and as willing to take risks while still young.
It’s easier to find people with similar interests in college or at university than anywhere else. An added plus is that you can watch them for a while to see if they can be trusted or not, and only then come up with your ideas.
Also, students are a perfect target audience to test your products and services on. They love trying everything new, they’re always socializing offline and online and like to share their reviews. They also have parents who can become interested if you really have something of value to offer.
Fields to Try Your Luck In
So, let’s suggest you’ve finally decided to give it a try. But what field to choose to increase your chances to be successful? Well, here are the main steps to figure out your perfect business field:
–Determine what you’re going to offer: goods or services;
–Write down everything that you can do really well;
–Estimate your available fundings and the required investments.
After doing all this, you’ll most likely come up with some good ideas for your startup. But if you need some inspiration – listed below are the most popular fields for student undertakings. Consider them, but don’t limit your imagination if you happen to come up with something completely different.
Most Popular Ideas
Goods:
- Clothes;
- Jewelry;
- Food.
Services:
- Writing;
- Babysitting and pet sitting;
- Cleaning;
- Moving;
- Delivery and errands.
Other possible fields:
- Tutoring;
- Design & photography;
- Coding;
- Marketing & sales;
- Selling used items;
- Dating.
Act while you’re still young and eager to gain experience – and you’ll be rewarded. That’s the main advice for students who are unsure whether to start a business or not. There are fewer reasons to be afraid to fail during your student years than at any other phase of life. So, risk it. Just remember to not abandon your studies – a degree is a good thing, after all.
