Many students are eager to start a business during their studies. This has a positive impact on the economy. But what are the real benefits for young people? Here are the reasons that motivate more and more students to Entrepreneurship when they are still in high school, university, or even college.
It’s impossible to be an entrepreneur on your own while you’re still a student. You really need the support of others. One of the biggest advantages of getting into entrepreneurship at this stage of life is that the young person can count on a number of people. His classmates are the first. They are passionate and always willing to get involved. They can therefore become partners. They won’t demand an exorbitant salary. Other resources may be involved. Teachers are one example. Thanks to them, the young person can obtain valuable advice on how to start his or her project.
Being a young student means a lot of freedom. There are fewer constraints and family responsibilities, no partner or children to feed, and no loans to repay. The only obligations are bills and monthly rent. Besides that, you have a lot of time on your hands. Therefore, starting a business at this time of life is a very good idea. You can make long-term decisions. You can move around or even move from one place to another depending on the project you have in mind. You can move at your own pace. And if you fail, you can always start over.
In any case, the young person has nothing to lose by undertaking during his studies. The probability of failure is not to be ruled out. But whether they succeed or not, they have everything to gain. In the first case, he will be able to collect more or less significant income. In the second situation, he will be able to learn from his mistakes. Few entrepreneurs succeed on the first try. This experience will therefore always be enriching, so many reasons to overcome his fears of lack of money, time and experience, and to take the plunge .
How to start your own business when you are a student?
You have to admit it, creating a company when you are a student can be a real obstacle course. But it is far from being impossible since many have succeeded. As soon as you have found a good idea, you must immediately confront it with experts or networks dedicated to business creation. You have to talk to the right people about it. When you know that the idea could work, you immediately consider turning it into a project.
You develop a business model, then you look for all the ways to finance your project. There are many programs available for financing projects for young students. If it is really necessary, we make small loans from banks. Crowdfunding is another way that can be beneficial to the young person. It is always advisable to have a mentor who will accompany the student in all his steps. If his budget allows it, he can request the services of a professional in entrepreneurship.
Having a good dose of determination is essential to be a successful entrepreneur when you are a student. Students should not be afraid of a challenge. He won’t stop at the first obstacle he meets. He always tries to find out what will help him move forward. He wants, by all means, to accomplish his dreams. But that is not all. It is also necessary to persevere. Without this character trait, the project may be lost. Finally, you have to be very passionate. Launching into an activity that does not excite the young person in any way does not guarantee success. Then come other qualities such as creativity, rigor, professionalism, self-confidence, integrity and generosity.
Some mistakes to avoid
Combining studies and work is not an activity that is very easy to manage. Both require a lot of investment and time. In addition, you have to avoid having a bad schedule. You have to know how to balance these two lives. Another common mistake is to go into entrepreneurship in order to make huge amounts of money or to dominate others. But these motivations can lead to heavy disappointment for the student. Entrepreneurship out of passion will be much more rewarding for them.
Thinking that entrepreneurship is only for grown-ups is also a common mistake. We sometimes underestimate ourselves. The young person must have total self-confidence. And what about the fear of failure? This is a real handicap for the student. It is therefore necessary to be able to get rid of it. Finally, one avoids isolating oneself. Many people do this out of fear that their project will be stolen. But it is necessary to choose good interlocutors who will make progress. You must always keep in mind that alone, you will never achieve anything. You must therefore surround yourself as much as possible.
Most successful student businesses started at university
- Facebook, Founded by Mark Zuckerberg
- Yahoo, Founded by Jerry Yang and David Filo
- Reddit, Founded by Steve Huffman and Alexis Ohanian
- WordPress, Founded by Matt Mullenweg
- Google, Founded by Larry Page and Sergey Brin
- Time Magazine, Founded by Britton Hadden and Henry Luce
- Her Campus Media, Founded by Annie Wang
- Silvia Terra, Founded by Max Nova
- FedEx Founded by Frederick W. Smith.