Entrepreneurship is growing very rapidly, as people of all ages are learning and realizing the benefits of being an entrepreneur. However, something I noticed is that many students are starting their entrepreneurial journeys in college. As a student entrepreneur myself, I thought I’d share the pros and cons of becoming an entrepreneur in college.
- Time: You don’t have to worry about supporting a family or raising kids, you’ll have more time to focus on your product/idea. Believe it or not but transforming an idea into a product and bringing it to market is very similar to raising a child.
- Cash: You’ll most likely be living with your parents/loved ones or roommates and therefore, you don’t have the burden of paying rent, utilities, and other bills by yourself. You’ll be able to invest some of your income into your product/idea.
- Learning curve: You’re young – you can afford to make mistakes. Entrepreneurship is all about making mistakes and learning from those mistakes. It’s a lot harder to go through that experience when you’re supporting a family and raising children.
- Resources: Many schools, especially colleges known for their business programs, offer entrepreneurship guidance and mentorship. Usually, the mentors are entrepreneurs themselves and can offer first-hand experience. Best of all, it’s free!
- Networking: You’ll have the opportunity of meeting fellow entrepreneurs and like-minded students who are interested in becoming entrepreneurs. Some of them are willing to work with fellow entrepreneurs to develop an idea and bring it to market.
- Grades: Since you’ll be investing more time into your entrepreneurial ideas than your classes, your grades might not be where you’d like them to be. Sure, you can always choose between the two.
- Social Life: Again, since the majority of your time will be devoted to your entrepreneurial life rather than your social life, your social life might not be as “colorful” as your friends. It comes down to your personal preferences, in my opinion.
Just like any other job, entrepreneurship has its risk and rewards. However, it has more risks and rewards than the average 9-5 job, in my opinion. If you’re willing to make the leap and become an entrepreneur in college, I’d highly recommend it. Take your time and do it right!