Start Time: Now.
5 Reasons why starting a business as a student is the perfect time.
Boom! Yup, I said it. Doesn’t matter if you have experience or not, now is the best time to start a startup. While many of you are probably thinking, “this guy doesn’t know what the hell he is talking about” (which may be the case); I don’t think there could be a better time to start a business, and here is why…
(1) Low Risk.
While some of you may currently be laughing over the fact that I mentioned low risk and startup in the same context, starting a business can be low risk if you position yourself correctly. First off, as a student in college, you have the “safety net” of being in school and having your degree to fall back on. If your startup takes off, then you can make the jump, and take it on full-time. However, if things don’t take off as planned, you can still just continue on with your studies and degree. The key is to take calculated risks, where the benefits of the potential outcomes outweigh the potential perils.
(2) Time for a real education.
Starting a business will enable you to get an education that you cannot buy. There is no class you can take, or degree you can get that will fully prepare you to start a company. Everyone has to start somewhere. Truth be told, you don’t have to have a long career in business, or years of industry experience. You will learn as you grow, and the key is continual development. You must be willing to try things that could fail, make new mistakes, and be willing to learn from entrepreneurs who have done it before. Being willing to ask for help is a key ingredient of success for not just the business you are starting, but also your professional career as a whole.
(3) Incredible People.
One of the coolest things that has come out of starting our company is the people we have connected with. Since starting Tradeversity, we have been fortunate enough to have conversations with a lot of incredibly innovative and unique people… People who would normally be very tough to connect with. From successful entreprenuers with billion dollar exits, to innovators and creators who are inventing technology that will change the world; all of these connections stemmed from starting our company and joining the startup community. Relationships in business are by far the most powerful tool any entrepreneur can have, and the earlier you can start to build those relationships, the better. We are all one degree or connection away from achieving our dream.
(4) Access to a niche market.
As a student in school, you have a better understanding of the college demographic more so than anyone else, considering you are the demographic! While in school, you are consistently surrounded by a specific demographic (aka college students),which gives you easy access to build and test products in a controlled environment. As a student, you also have access to resources such as industry experts (adjunct professors ), free money (grant money), and even work spaces such as technology incubators that can be found around most universities. By targeting the college market, you are creating products that you and your friends would use, and that in itself can give you a competitive advantge when playing in the college arena.
(5) Why not?
But seriously, why not? Why not start now? There is a saying that the best time was yesterday, so start now. There will never be a good time to start a business… That’s just how life is. Something will always come up, there will always be something that complicates things, and there will always be a reason not to. The question is, are you truly an entrepreneur? A true entrepeneur is someone that does not see walls, they simply see obstacles…Obstacles that can be overcome. The sooner you start, the quicker you learn. Everyone had to start somewhere, and so make the decision that now is the time. In college, we have “shelter” as well as so many resources, where we would be crazy to not try and create something. So with that in mind, what are you going to do when your next idea pops into your head… Are you going to say “If only we had _____?” Or are you going to say “It would be great to have ____, and so let’s create it.” The choice is yours.
So when’s the best time to start? Now.
