Putting your entrepreneurial skills to test while in college may not be a bad idea. Mark Zuckerberg has shown us the way and he continues to inspire others out there. Many of these young student entrepreneurs have tasted success with their unique ventures. The road to success is arguably never going to be easy. Most students depend on a paltry student loan to take them through college or they have to find some student specific part time jobs. With this as the only capital, it is hard to actually launch a full-fledged business. But reports suggest that starting your own business in college may actually be a wise decision.
This video describes how to start business in your university.
1))Learn from Mistakes:
The best reason to start in college is that you can start over even if you fail. Failure in the early stages can actually help you learn from your mistakes. When you taste success too early, you tend to become complacent. You are not driven to challenge yourself because you are easily satisfied. College gives you the best opportunity to give your dreams the wings it needs to fly. So, even if things do not work out in your favor, you will not have regrets later. You can always benefit from the experiences you have gained.
Another solid reason to try your entrepreneurial skills in college is the security factor. When you are a student, you are not likely to have liabilities. You do not have to worry about mortgages. You can afford to take risks that are not possible once if you have a family. With a family to support, you will need to contemplate every decision. You have to be prepared to deal with the consequences and make contingency planning. The real world is full of hardships and you will not get the chance to gamble with your career.
3))Support from Organizations:
For students, planning a start-up in college becomes possible because of supports from various organizations. You will find university campuses offering many exciting prospects to business enthusiasts. Students gain invaluable experiences through training and support initiatives. They benefit from excellent networking opportunities. Resources are abundant as is support from peers. Even if you may not know many students, you will be surprised to find them rallying behind you. The best part is you can count on support, advice and expertise from your teachers. They are experts in their fields and will offer free consultation any time.
4))Locating the Gap:
When you have many prospective buyers around, you can launch your start-up easily. You can count on support from friends and teachers. It is easy to find the gap in market to start your business. This is possible as you have the time to conduct a thorough market research before you take the plunge. Market research in college is easy as you have enough time and resources for it. Without this groundwork, you may not find an audience for your products and end up with huge losses.
5))Testing the Waters:
Most students seek cushy jobs right after graduating. But not all end up liking these and some start to crave for challenges of business. They may have had dreams of their own but are hesitant to experiment. They are forced to opt for white-collar jobs because of security attached to these. College gives these enthusiasts the perfect opportunity to test the waters. They can experience the challenges and ordeals of setting up a business before ultimately venturing out.
6))Social Media Supports:
Colleges are the best places to float business ideas. This is because your friends are likely to spread the idea if they find it appealing. Most college students use social media websites and these can give your ideas a huge audience. The ripple effect will be felt soon and you will be surprised at the support you have garnered. The more the audience you reach out to, the higher are your chances of succeeding. You can also use this time to go full throttle into the business without worrying about fallouts.
7))Breaking the Stereotype: The new generation of college-goers has come to be identified as being inherently lazy and social-media fanatics. So, when a college student does something out of the ordinary; he automatically catches everyone’s attention. Being surrounded by inactive peers often turns out to be an advantage. The press is likely to notice your achievements faster. So, the younger you are as an entrepreneur, the faster you rise to fame.
8))Educating Students about Benefits of Self-Employment:
Many students keen for start-ups feel that the support from universities could be slightly more encouraging. While this may be true to an extent, the situation is undergoing a change now. Earlier colleges would focus only on employability but today many colleges are actively backing young entrepreneurs. Colleges are also realizing the need to motivate undecided students by highlighting the perks of self-employment. Students can only take informed decisions if they are taught about the value of entrepreneurial skills.
9))Getting Support from Universities:
In testing their skills, teachers and universities should offer them the advice and space they need. The University of Leeds has actively promoted entrepreneurial activities by supporting their students. It has even arranged for living allowance and office accommodation for business enthusiasts. Likewise, University College London has a center for entrepreneurship dedicated to encouraging students keen to start their own business. It offers mentoring, sponsorship and consultancy for such students.
10))Introducing New Modules in Business Studies:
Earlier, there were many modules in business courses that had no real world relevance. Now, universities are introducing modules where students get a chance to work in factories. This lets them get hands-on training to learn nuances of mass production. Even in curriculum these days, they try to include case studies based on entpreneurship to make it a common buzz word among students. Besides business courses, you can benefit from many other initiatives like the UK Charity Young Enterprise. This has as many as 29 colleges in its start-up programme. Using this initiative, you can launch your own business for a full year under the mentoring of experts.