Skip to content

Starting a Business in College: Pros and Cons

Starting a Business in College Pros and Cons

Starting a Business in College: Pros and Cons

Many young people are obsessed about starting their own business. They see themselves as successful entrepreneurs in future, hoping for great rewards brought by their venture. However, how far are those thoughts from reality? Juggling numerous responsibilities in several areas of life can be very challenging.  In fact, starting a business in college has both pros and cons. Let’s consider the benefits and drawbacks of being a student entrepreneur. 

The pros of student business

If you are looking for motivation to open your own company at college, here are some advantages of this decision. 

Financial freedom 

Setting up your own business is one of the best ways to achieve financial freedom. If you invest much effort in it and make proper planning, your venture will thrive, bringing you great rewards. Think about Mark Zuckerberg, Bill Gates and Elon Musk who made their ideas so big. If you have entrepreneurial spirit, you don’t need to be Musk or Gates because you can make your own plan that will change the world and bring you lots of money. With sufficient dedication, genuine faith and grit, financial freedom is almost inevitable. Isn’t it what you really want at a young age? 

Free college resources 

While being at college, you have access to a multitude of college resources that you shouldn’t underestimate. Just think, you have advisors knowledgeable in different fields, so you can ask them various questions about your business. Top universities have great counseling and mentorship support programs for their students. It’s quite easy to find a professor or a graduate that can provide you with valuable feedback on your plans. You also can use IT and printing resources for free, which can save you some money. What’s more, some colleges offer plenty of grants and financial aid for student entrepreneurs to support their start-ups. 

Self-growth 

As an entrepreneur, you will have to do many things that are completely new to you. Novelty can help you learn more about yourself. Of course, you might be aware of your strengths and weaknesses, but believe it or not, there is so much more to discover in a new role as an entrepreneur. Business can make you more realistic about who you are. It will show you what you can do without any effort and where you need to overcome your limitations. This is all about self-growth and personal improvement that are vital in today’s fast-changing world. Use your start-up as a chance to gain new skills and become a better version of yourself. 

The cons of college start-ups

As you see, launching a business while still in college has substantial advantages. However, it also carries some disadvantages. 

Sacrifices 

Combining your business and education is not always possible, so you may need to sacrifice something at a certain point. You will have to learn how to prioritize and focus on what’s more important. To drive your newly-launched company to success, you may need to miss some classes and skip assignments. That means you have to sacrifice your studies. If you don’t want to drop out of college, you should find ways to submit your homework on time and compensate for your absence in class. Luckily, there are a lot of services helping you save time on studies and complete papers with minimum effort. One of them is a popular plagiarism checker for students that is used to make your papers 100% unique. With the latest tech tools, you can complete your homework faster and easier, which allows you to focus on your business goals. 

Financial risks

If you don’t have sponsors for your start-up, you have to risk your own money. It’s a really big move for your financial resources. Of course, there are many companies that you can start with a small initial capital or even without money. But still, you need some investments to run your business.  And unfortunately, there is always a risk of losing everything. Nobody knows for sure if you will turn in profit and end up earning a lot of money. So you must accept the fact that there is a risk of going bankrupt even with a well-executed plan. Why? Because business is unpredictable like anything else in life. However, bear in mind that with high risk comes a high reward. 

Final thoughts

Making a decision about launching your own business is not easy, especially if you are a student. Before that you need to weigh all pros and cons of this venture. Hopefully, this article will help with that!

Author’s BIO

Brandon Kryeger is a life coach and private entrepreneur. He launched his start-up only a few years ago and since then it has become quite successful. Brandon believes that anybody can start a profitable business with the right guidance, so he does his best to help people succeed in entrepreneurship.  

Importance of QR Code Scanner

Brandon Kryeger is a life coach and private entrepreneur. He launched his start-up only a few years ago and since then it has become quite successful. Brandon believes that anybody can start a profitable business with the right guidance, so he does his best to help people succeed in entrepreneurship.  

Starting a Business in College: Pros and Cons

Leave a Reply