Why You Should Start a Business While Still in College

College is the time to make something happen! Here’s why you should start a business now.

College is an exciting time! You’re learning about things you’re passionate about, meeting new people, and getting ready to take on the world. As you fill your brain with knowledge, ideas arise and opportunities come knocking. Now’s the time to give in to those entrepreneurial urges and make something happen! Here are eight benefits to starting a business while still in college:

Make money

No one would pass up the opportunity to make beaucoup bucks doing something they’re passionate about. That’s why we think you should start now. If you’re in love with the art of copywriting, start freelancing. Love landscaping? Grab your lawnmower and reach out to your neighbours. Interior design is the key to your heart? Upcycle used furniture and sell it. The possibilities are endless.

Low-risk, high reward

You’ve probably heard that it takes money to make money, but we humbly disagree. If you don’t own anything or have any commitments to what’s ahead, what do you have to lose? Best case, you gain some real-world experience and have a budding business venture to lean on after graduation. Worst case, it doesn’t take off and you go back to what you’re doing now. You won’t know until you try.

Build time-management skills

Work hard, play hard. Starting a business is no joke. It’s a serious commitment that should be treated, well, seriously, but that doesn’t mean you should ignore all your other responsibilities. Even if you don't continue your business once you've completed your program, time management is an essential skill that will help you stand out to potential employers after graduation. Keep an agenda, break up your day into time slots, and set strict deadlines for yourself. Strong time-management skills are a must, so if you can balance your business plan and keep your grades high, you’re golden!

Free resources

Algonquin College is all about following your dreams so we want to help make it possible. The Innovation and Entrepreneurship Centre is “a co-working space that hosts workshops, events, mentorship and connections to the Algonquin and Ottawa ecosystem with the goal of creating a community of empowered, innovative entrepreneurs.” Networking is always a valuable experience and learning from other student entrepreneurs is priceless.

If you’re looking to jump start your business and are currently enrolled in a co-op program you’ll be pleased to know that we’ve added an e-co-op this year! This means you can choose to work on your business full-time as part of co-op instead of with a traditional employer. How cool is that?

Apply that research

Thinking about starting a business related to your program? There’s literally no better time. You’re already learning from real industry experts and have tons of academic resources at your disposal, so put that information to good use! What better way to study for your next exam than through example?

Practice makes perfect

Think of this as your practice round, the appetizer before the main course, the opening act before the show. You get the picture. In college, you’re allowed to mess up as much as you want because it’s a safe space for learning and improvement. If you learn to nail it while you’re here, you’ll be ready to take on the real-world with unwavering confidence.

Potential customers

Only a college student knows what a college student needs. Since you’ve got the inside scoop, you can tap into that market! Strike up a conversation with your classmates and chat up some friendly faces in the cafeteria, find out what could make their lives easier and make it happen. Time is ticking and your customers are waiting!

Career experience

After all is said and done, this is a learning experience. In the world of entrepreneurs, no two days are alike. You make booboos, you learn from them, the cycle repeats. Even if this venture doesn’t pan out the way you’d like it to, you still took the time to experience it. Slap it on your CV because, if it helped you grow and provided valuable insight, it wasn’t a waste of time. If it does go as planned, then you’ve earned the title of “successful CEO” before you even graduated.

Final thoughts

When it comes to starting your own business, it might not be all rainbows and sunshine, but the reward is far greater than the downside that may come with it. College is a time for experimentation and you’re sure to learn a lot, gain a lot, and feel oh-so fulfilled doing it! Now get started!