A big majority of successful entrepreneurs have started their businesses during their college days. Here are some of the reasons why:
Startup ideas are easier to come up with: It is not hard to come up with a startup idea when you are in college. There are a lot of projects and activities that you can do that will help you discover your passion and interest.
When you have your passion, it is easier to start a business because you have something that motivates you to move forward.
There is no limit on resources: When you are in college, there is no limit on the resources that you can use for your business. There is no need to worry about expenses because it is the time when parents give allowances without any restrictions.
Time and freedom
The best thing about being in college is that there are no strict schedules or deadlines for assignments or tasks. As long as you get good grades, there will be no one bothering about how much time do you spend doing business activities.
You also have enough time for doing research on your business ideas and getting ready for future steps in launching your business when the time comes.
You also have the freedom to choose what classes or activities that you want to join which means having more free time than after graduation when work life starts taking up most of your time.
A lot of successful entrepreneurs get into contact with other people who can help them start their businesses through networking during their college years especially through campus organizations like student government and clubs.
These connections will be very helpful in expanding and reaching out to more people once they become entrepreneurs later on in life after graduation.
Doing something meaningful
It can be really frustrating to work at a job where they do not feel like they’re making an impact or adding value into something bigger than themselves like helping people live better lives or creating more jobs for others as well as building communities where people care about each other and their environment instead of working at a job where they just sit around all day behind a desk or computer without interacting with other people at all like it’s some kind of prison sentence rather than going out there and experiencing life while being able to help others as well as themselves at the same time while being able to learn new things every day through experience which helps grow both personally and professionally as well as gain valuable skills which they can use when starting their own businesses later on in life after graduation instead of working at a job where they have to sit around all day behind a desk.
Learning new things
It is a great way to learn new things about different industries, businesses, people, cultures, technologies, etc. that you can use when starting your own business later on in life after graduation.
What is the Best Way to Find a Startup Idea?
There are different ways on how to find a startup idea. You can either start by doing some research or start by taking action and getting your hands dirty first. If you want to take action first, here are some steps on how to do it:
Start with the basics
First of all, you need to start with the basics like having an idea of what kind of business you want to start. Do some research about it and learn as much as possible about it before moving forward. Then figure out if this business idea is something that you really want to do or not because if you don’t feel that it is something that will work for you or if it doesn’t feel right for you then don’t waste your time on it because there are a lot of other businesses out there that might be better suited for you so make sure that this is something that will work for you before moving forward with it.
Ask yourself what problems can be solved
Once you have an idea of what kind of business do you want to start then ask yourself what problems can be solved through this kind of business and how many people will benefit from this solution?
If there are no problems or if there are only few people who would benefit from your solution then maybe your idea isn’t something worth pursuing because the market won’t be big enough for your business which means there won’t be enough potential customers who would buy your products or services which will make running the business very difficult especially during the early stages when there aren’t many customers yet.
So always remember that businesses should always focus on solving real problems in order for them to succeed because if they don’t solve any real problems then they won’t get customers which means they won’t have any sales which means they won’t have any profits which means they won’t survive at all so make sure that whatever kind of business ideas do have solves real problems in order for them to succeed otherwise they will just end up failing miserably especially during the early stages when they don’t have enough sales yet which means no profits at all yet so just keep that in mind.
What is the value that you can provide to your customers?
After asking yourself what problems can be solved through your business idea then ask yourself what value that you can provide to your customers.
This is one of the most important questions that you need to ask yourself because if you don’t have any value to offer then there will be no reason for your customers to buy from you.
The main purpose of any business is to provide value and solve problems so make sure that whatever kind of business ideas do have has a lot of value and solves a lot of problems for the people who will buy from you.
If there are no real benefits or solutions that your customers will get when they buy from you then they won’t even consider buying from you at all which means there won’t be any sales which means no profits which means the business will end up failing miserably especially during the early stages when they don’t have enough sales yet which means no profits at all yet so just keep that in mind as well.
Ask yourself how much money do I want to make?
How much money do I want to make through this kind of business? If it is too low then it won’t be worth doing because it won’t make enough money for you to support yourself as well as help grow your business in order for it to succeed later on in life after graduation. If it is too high then people might not buy from you because they think that it isn’t worth their time or money so set a reasonable goal on how much money do you want to make through this kind of business first before moving forward with it.
Ask yourself if there are other ways to solve this problem?
Now ask yourself if there are other ways besides starting a business in order for people who need this solution can get it without having to pay for them which means look into things like charity, government, non-profit organizations, etc. if people really need these solutions then they should already have them available for free instead of paying someone else for them because these kinds of things should already be provided by charities, government, non-profit organizations, etc. instead of having people pay someone else for them so try looking into these kinds of things first before starting a business just so make sure that there aren’t any other ways besides starting a business just so make sure that this really is something worth doing before moving forward with it.
In summary, the best time to start a business is when you are in college because there are a lot of resources that you can use for your business and there is no limit on them, you have enough time and freedom to do research on your business ideas.
About the Author
I am the Founder of Cudy Technologies (www.cudy.co), a full-stack EdTech startup helping teachers and students teach and learn better. I am also a mentor and angel investor in other Startups of my other interests (Proptech, Fintech, HRtech, Ride-hailing, C2C marketplaces and SaaS). You can also find me on Cudy for early-stage Startup Founder mentorship and advice.
You can connect with me on Linkedin (https://www.linkedin.com/in/alexanderlhk) and let me know that you are a reader of my Medium posts in your invitation message.About the Author