The SC NinjasThis is a guest post by Georgiah Cook. Georgiah has a passion for finance and accounting, as well as education. This passion has driven her to become a prolific writer on subjects like personal growth and higher education and she finds inspiration from business successes like Richard E. Schaden.
You may think that starting a business is a daunting prospect, perhaps best left to the professionals. However, there are many benefits to getting your feet wet in the pool of entrepreneurship—even while you are still in school. Whether you are a business student with a passion or simply looking for an opportunity to grow and make some money on the side, check out these six reasons starting a business could be right for you!
1. Build your resume
One of the most obvious benefits of starting a business in college is the automatic resume boost. Having a personal business on your list of experiences and accomplishments (whether your business ultimately succeeds or fails) is a huge advantage in this cutthroat economy.
Not many college students can say they have started and run their own business. Therefore, your entrepreneurship will set you apart from the crowd and show potential employers that you have initiative, and real world experience that you can’t get from a classroom or internship.
2. Pay Your Way Through College
Money is usually pretty tight during your college years. With the help from mom and dad, student loans, and/or a campus job, you can get by. But why not gain some financial independence and security now?
Starting your own business can help you pay your own way through college, reducing that debt that awaits you at graduation, and get your parents off your back about where that rent money went. Even if your business isn’t wildly successful, you should be able to make a nice bit of spending money on the side—and hey, every little bit helps, right?
3. Gain Real World Experience
College can teach you many things, but until you go out into the “real world,” you aren’t going to have that oh-so-important “real world experience” that everyone is talking about. Starting your own business is a great way to get that experience in an environment that is relatively safe. You’re still in school, so the success of your business probably won’t determine your ability to live from day to day.
Moreover, as you navigate the world of entrepreneurship, you will learn valuable skills and lessons in time management, budgeting, marketing, and general business know-how. This will not only help you succeed in future endeavors, but will also set you apart with future employers and open doors for greater networking and business opportunities.
4. Be Your Own Boss
Who doesn’t like the idea of independence? Setting your own hours, having control of what you do and when you do it, and being your own boss is an attractive quality of entrepreneurship. Additionally, in today’s slow economy, where job security is none too prevalent, it can be a great advantage to have control of the reins. At least you’ll know you’re never out of a job—that is, assuming you can keep your business profitable.
5. Access Unique College Resources
Starting a business in college offers the young student-entrepreneur some unique resources. Since you are still in school, you still have access to the advice, mentorship, and guidance from knowledgeable professors, and opportunities for career fairs and networking events. These kinds of resources can be invaluable to your burgeoning business.
6. Invest in Your Passions
Finally, starting a business is a great way to invest in something that matters to you. If you are passionate about something, look for ways you can turn that passion into a profit. This will make the business venture more fun and exciting for you as an entrepreneur, and you can gain greater knowledge, experience, and skills in a field that truly interests you.