Home Advice For The Young At Heart 6 Advantages To Starting A Business In College

6 Advantages To Starting A Business In College

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Matt Wilson, founder of Under30CEO.com, encourages entrepreneurs to challenge boundaries.
Matt Wilson, co-founder of Under30CEO.com.

Considering starting a business while in school? Companies like Dell, Microsoft and hundreds of others started in a dorm room and so can you. Here are several reasons why you should take the leap and take control of your future while in college:

1. Campus Advisory Board – Is there a school of business on your campus? If there is, you will have access to entire advisory departments: finance, management, marketing, accounting, legal and more.  Professors are more than willing to help use their expertise and connections to see a student from their school succeed in the business world. Whether you incorporate in California or start an affiliate marketing venture, start your business and don’t hesitate to ask for help. These PhD’s are often well networked and experienced.

2. Word of Mouth – Word spreads quickly on campus and it will be your cheapest form of marketing.  There is no better endorsement to buy a product or service than having a recommendation from a friend.  It’s almost like hearing “Hey, everyone is going to this party tonight, you have to be there.”  Napster music sharing service started in a college dorm room and spread like wildfire because of the students’ proximity to one another.  Use this to your advantage.

3. Technology – Colleges are a hotbed of technology and people who understand it.  Chances are your school offers WiFi, copy and fax machines, scanners, software, a high tech library, students walk around with cell phones, iPods, and laptops.  You are in one of the most well connected places on earth – take full advantage.  Everything that you need to start your business is right infront of you.  In a real bind? Make friends with the IT department and they will help you out.

4. Campus Resources – Many colleges have amazing alumni networks, incubators, and entrepreneurship clubs set up already.  If they don’t–look into creating a chapter of the Collegiate Entrepreneurs’ Organization on your campus.  The more entrepreneurial people you surround yourself with the more driven and motivated you will become.  Entrepreneurship is a long hard battle, you will need a quality support group.

5. Access to Cheap Labor – Your college or university is full of young people trying to gain new experiences and a little bit of spending money.  Need help with your business? Look no further than other college students.  Many students will do unpaid internship if you make the experience worth their while.  Find other entrepreneurial minded students and pay them a commission based salary or find someone who wants to work part time for an hourly wage.  Need web development done? Ask around campus or post a job with your Career Services Center.

6. Now is the Time – Don’t wait until you have a mortgage and kids to start your business, do it while you have some breathing room attending college.  You could be out partying 24-7 or you could make the sacrifice now.  You might even have the option of moving home after graduation and bootstrapping your business from your parents basement.  Tackle the challenge of starting a business while you have a crutch to lean on.

Learn How to Attract a Celebrity Following for your Business with Little to No Budget with this free Online DVD to Young Upstarts readers at http://rockstarbusinessseries.com

This is a guest post from Matt Wilson, co-founder of Under30CEO.com.  His workshops and keynote speeches have taught young people how to build huge brands online through the Rock Star Business Series. Get backstage access to his Online DVD free for Young Upstarts readers and Learn How to Attract a Celebrity Following for your Business with Little to No Budget.

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10 COMMENTS

  3. Great article . I hear so many people that want to start a business in school but are nervous about when to do it. They say sometimes that they want to wait until they get out of school. Your points are right on.

  6. Hey RJ, when you are young your consequences are much less severe. If you wait until you are 40 and your children are about to go to college you are going to be in trouble!

    Employers want someone who has shown assertiveness and leadership and that’s what young entrepreneurs will learn to do.

  7. Great article Matt. I hear so many people that want to start a business in school but are nervous about when to do it. They say sometimes that they want to wait until they get out of school. Your points are right on. The most important thing for people to realize is as you said “now is the time.” Don’t wait, you don’t have a heck of a lot to lose.

    Also – it sets you up really well for the job market. If you can show a potential employer that you took the initiative to start up a business while still attending school they will be impressed. Then again not all entrepreneurs will necessarily look for jobs later… but if they do!

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