The idea of adding another thing to the plate of a college student may seem impossible, but as it turns out, many students are following their entrepreneurship spirit while still writing their senior thesis. The job world is more competitive than ever and college students understand that in order to get ahead, they need to start early. But is starting a business while still in college the best way to succeed? Or is adding another task taking too much attention away from the main goal of graduation?
At the end of the day it simply depends on what you want to do with your life.
PRO: Access to an Abundance of Resources
College students have access to all university departments including finance, accounting, marketing, legal and business. They also have full use of college technology such as printers, scanners, reliable Wi-Fi and endless reams of paper.
Colleges are staffed by amazing professors who want nothing more than for their students to succeed in life. Because of their passion, these professors are willing to work overtime to advise their students on best practices in and out of the classroom. Students can take on a mentor or enhance their classroom experience thanks to these advisors.
PRO: Practice in Time Management
Starting a business while performing a balancing act with school responsibilities as well as maintaining some semblance of a social life is an excellent way to master the art of time management. Students who pursue their passion along with a proper education have to learn how to prioritize tasks and complete them against a timeline.
PRO: Peer Engagement and Labor
College students are consistently on the prowl for ways to gain extra experience, whether that be in part-time work, extra-curricular projects or clubs as well as internships. Starting a business in college is a low risk, high reward project simply due to the fact that major finances are most likely not playing a role.
While the benefits of starting a business while still in school are practically infinite, the idea of starting a business in college also has some downsides.
CON: Missing Out
Along with coursework, college students pursuing a start-up while in school are going to sacrifice a lot of the time they could be spending hanging out with friends or playing sports. Part of the college experience is about trying new things – not just getting ahead.
CON: Lack of Money
Young entrepreneurs may be discouraged by the amount of money it takes to run a successful business and the funds are likely to simply not exist for a college student in their sophomore or junior year studying in a program like UNE’s masters in social work.
CON: Risk of Falling Behind
In order to graduate with a high GPA, students need to devote a large chunk of time to research and study. However, if college entrepreneurs are starting a business, that time to study will be cut drastically short. Students risk the chance of falling behind in class, missing assignments or flunking tests due to lack of study and sleep.
Starting a business while in college is an incredible endeavor that anyone can do successfully if they set their mind to it. Question is: Are you up for the challenge?