We all know the countless perks to being a student (eg. DISCOUNTS!). Anyone partially interested in business would also know the vast advantages to starting and owning your own business. Throw these factors together, and you’ve got the perfect combination and reasons why as a student you should start your own business! Let us share with you the top 10.
1. The time is right
Let’s face it. It is undeniable that university students can (and most often always do) have additional time on their hands. Although we all desire to start our assignment the day they are given out, the reality is we do it in the last minute, and do it well. That’s why founding a startup during uni is perfect timing because unlike the real world (with real jobs and real working hours) you can manipulate your schedule to fit in around your business and still get done what you need to!
2. Resources at your finger tips
Universities have an incredible amount of resources available to students. These are not only limited to professors, academics, library subscriptions and successful alumni. But also, programs such as Adobe Photoshop, Microsoft Office suite, Solidworks and Github that are freely available for student use. After all, who doesn’t love freebies?
3. Mentors Galore
One of the best ways to learn is from others that have followed a similar path to you. Founding a Startup during university allows you to access a plethora of mentors willing to help. Don’t underestimate the power of the ‘student card’! Businesses are often a lot more willing to provide insights and valuable information to a student rather than a current or future competitor (Little do they know this is exactly what your going to become).
4. Test Subjects Everywhere
When you begin a startup, you need to test and redefine your idea and product over and over again. At universities, there are so many students around that can easily assist you with this!
5. It’s okay to fail
In fact it’s probably actually a good thing to fail during university! Statistics say 92% of people’s first start-ups fail. Of course, we all dream to be in that 8% and become the next Facebook, Twitter etc but really failing in uni is probably the best place to do it! You learn fast, you don’t have to worry about mortgages, kids and other responsibilities and most importantly you are studying to create a feasible back up plan so not everything depends on the success of your startup!
6. Meet new (& awesome) people
Universities are massive places and so it’s often difficult to meet and find friends that have similar interests to you! Startup communities are a lot smaller (especially in Australia currently!) and are very collaborative and welcoming. The best way into a Startup community is to either be a founder of a startup, join a startup or attend startup weekends and workshops! The people you will meet will inspire you in what they are working on and the free food and drinks isn’t bad at events either!
7. Its great to put on the resume
Lets not lie, saying that you have founded or co-founded a business does make you stand out from the crowd! Of course this should never be a sole reason to found a startup however. More importantly for potential employers it demonstrates that you have diligence, passion, most likely teamwork and management skills and have a commercial understanding. These are skills that are not easily gained during your average university course!
8. Mindset of Learning
One of biggest difficulties getting into a startup after university is getting back into the learning mindset. As students you are told (and forced) to be an active learner by absorbing information and applying also to question what’s happening in the world. Think of exploring a startup as a brain exercise… that can make you billions.
9. You might just get it right
Okay yes, contrary to what was said about it is okay to fail… it is always awesome great to get it right! Plus you will never get it right if you don’t give it a go. There have been countless student startups that have managed to successfully make their way into the success list.
10. Its fun!
Starting a business most definitely has its highs and lows and its inevitable stressful moments, however the passion that you will towards something and the time you put into it – actually makes it fun! Don’t mock it until you try it!
If this article has got you thinking - join us for Startup Hatch where you can test out being a student entrepreneur for a month and attend a series of awesome workshops!