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Reasons You Should Start a Business While in School

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Reasons You Should Start a Business While in School

Many of the businesses you see today began as small projects from the campuses of universities and other educational institutions. Facebook is a well-known example but the list of businesses that started from school is a long one and spans across many industries and countries. Here are reasons you should start a business if you’re in school

Low Risk

You have very few commitments at this stage in life compared to a decade after school. Put everything you have now into building a business ; your time. The worst case is that you fail and go back to regular life. What have you got to lose?

High Rewards

Because you are committing very little resource into it, your rewards will be enormous if you succeed. Dropbox, WordPress and Facebook should be inspiring stories for you. With very little, these businesses have become huge brands raking in millions of dollars.

Cheap Resources

Universities and other educational institutions have so much resources that can help anyone build a big business. Free high-speed internet, large market (students who become your first customers), easy access to people for market research, ideas, free or cheap labour hours, feedbacks and even free guidance and mentorship from lecturers and business owners.

Experience

Starting a business on campus equips you with experience in real world business. Customer service, product improvements, marketing, business development among others are some of the lessons you learn very early in life. These lessons prepare you for the real world of business, where mistakes are sourly punished, compared to the small campus.

Customers

Getting customers for your products and services is always easier on small community-like campuses. Word spreads faster among students, via word-of-mouth or messaging apps or other means. Yours is to make sure your product or service is of high quality and reasonably priced and your customers walk in.

Co-founders

There are many like-minded students amongst you who have thought of your idea once or twice and have actually considered starting a similar business. Once you start, or even discuss your idea with someone, you would attract the right partners who would also contribute with some resources (skill, expertise, connection, money etc) to make your dream a reality.

Mentorship

Many successful businessmen are willing to impart their knowledge to younger ones. Showing that you are interested in building your business by first starting one while in school surely signals your willingness and readiness. Approach one as ask for mentorship. This would be easier than you think.

 

 

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