You would think that with all the schoolwork that is piling the student’s mind, starting a business would be unthinkable for a university student. However, more and more of them managed to become an entrepreneur while balancing their studies.

It is undeniable that juggling school and your newfound business is hard. It could even sometimes mean turning down that party invitation. But an article by Forbes highlight show the university is the best time for you to start your entrepreneurial journey. They interviewed multiple student entrepreneurs and below are their findings.

1.    Differentiating yourself from your peers

You can separate yourself from your peers who study the same materials and equipped with the same skill as you. But the difference is that you practice what was preached to you in class.

2.    Building key life skills

Life skills such as innovative and real-world problem solving and teamwork can be learned by taking part in entrepreneurial activities. Employers are looking for students who can come up with their own ideas, develop them, and market them to customers. The skills you learn during your entrepreneur journey will aid you in your future and bring you down the road to success, either as an entrepreneur or as an employee.

3.    Expertise at your fingertips

You have plenty of experienced professors available to you for you to reach out anytime. You should take advantage of the resources that the university provides you. Otherwise, you will regret not taking advantage of those connections when you graduate.

4.    Freedom to experiment

It is the perfect time for you to fail fast and learn from your mistakes. More often than not, your first idea might not be the idea that you work on later on. So fail while you still can.

5.    A ready pool of potential users

Anyone can be a potential user and being in university you can walk up to anyone to gain virtually unlimited feedback.

6.    Access to alumni

Sometimes you might not find the expertise you need from your professors, or they might not be familiar with the industry you are interested in. This is where your network of alumni comes in handy. A quick LinkedIn search and a well-crafted email explaining your current situation might earn you a couple of helpful tips from your seniors.

7.    Access to skills

University can often be a melting pot of talented and creative individuals. They might possess the right skills to help you design your website or logo. And if you’re really close with them, they might just do it for free in exchange for a favour, of course. You can even return the favour by buffing up their portfolio.

8.    Fewer financial worries

It may seem odd, but you can save a bit of money by starting your business during your studies. When your expenses are low or if you live in an affordable student accommodation where you don’t have to worry about maintenance cost, it might help you to start your business early. After you obtain your degree, you might have to face more expenses you didn’t have to worry about when you were a student.

9.    Added brand value

Running a business during your university can add reputation and value to your brand. Student connections and various school events might just present you with opportunities to be a provider for these events. It can often be easier to get large order for these events compared to if you were a normal external business, unfamiliar with the school culture.

There are undoubtedly benefits to starting your business early, especially if you are a university student, you wouldn’t want to miss the opportunities that may arise. Especially because there is an increasing demand for entrepreneurship students across the board. With a decreasing number of jobs due to technological advances, being an entrepreneur can place you in an advantageous position with plenty of career option. In addition, entrepreneurs can help the economy in generating new prospective jobs. 

So if you are thinking of starting a business in the future, why wait?

References

Coleman, A. (2019, September 17). Why  College Is The Best Time To Become An Entrepreneur. Retrieved from  Forbes:  https://www.forbes.com/sites/alisoncoleman/2019/09/17/why-college-is-the-best-time-to-become-an-entrepreneur/?sh=279703a8103a

Panigrahi, S. (2020, January 15). Benefits  of Entrepreneurship Education for Students. Retrieved from Higher  Education Review:  https://www.thehighereducationreview.com/news/benefits-of-entrepreneurship-education-for-students-nid-1209.html

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