Why Being in College Is the Best Time to Become an Entrepreneur

A good question that has always been posed by aspiring entrepreneurs: “At what age should I start a business?” Some would say, after college graduation—when you have finished all the necessary studies for you to survive “the real world”. Some advise to start a business after accumulating enough money from work. However, some believe that there is no better time to start entrepreneurship than in college. I agree with this for the following reasons:

Creativity. Teenagers are as creative as children, and as skilled and resourceful as young adults. I remember how witty and funny our presentations would get back in college, and that same inventiveness is a valuable asset for entrepreneurs. Compared to adults who have been under stress of computing for taxes, sales reports, and trying to figure out whether or not their salaries would last until the next pay day, teenagers still have the luxury to hone their creativity in a perfectly suited environment: in reports, assignments, and even in school and organizational activities. College is an excellent training ground for planning defined by creativity and execution.

Resources. Different websites and training providers are now within reach, so why start at a later date when now is as good a time as any. Step by step videos for handicrafts may be easily searched on YouTube for demonstrations. Legal requirements and procedures required of businesses are now posted on the websites of the respective government agencies concerned. Companies, like BusinessCoach, offer business seminars on specific businesses, from restaurants, corporate giveaways to events planning, and more.

Time and money. College students have the luxury of time, especially with all the semester, holiday and summer breaks those employed barely have. Lunch breaks and idle periods between classes are enough time for one to plan a business. Aside from planning, there is also the advantage of starting early and learning the adjustments needed for a business to succeed. Imagine, if it takes five years for a concept to be perfected, then a college student would be able to perfect business operations a year or two after graduation.

When it comes to capital, if one’s daily allowance is not enough for a startup, then saving a small amount daily is advisable until there is an adequate amount to execute the business plan. If that is still not enough, look for business partners to share capital requirements.

Connections. College is one of the fastest and biggest avenues to create both professional and non-professional networks through school organizations, classmates, and professors. In fact, some entrepreneurs found their business partners and have successfully started their ventures in school. Some got their first sales from classmates. Those who dreamed big and worked hard have even made a name outside of school and have evolved into an enterprise going head to head with older competitors. The benefits of having a wide area of connection with people in school cannot be overstressed, mostly because building connections at a later time will be very difficult.

Direct practice. Like training wheels, students are able to practice what they learned in their business subjects as quickly as possible. This also means student entrepreneurs have the guidance of their professors and do not have to blindly start their businesses after graduation. This is better than trying to recall business lessons when drafting your first business plan and eventually regretting not taking down notes in school. College students have the advantage of immediately translating theories into practice.

To the teens reading this article: Everything you need is within reach, and all you need to do is to act.

*Originally published by the Manila Bulletin. C-6, Sunday, August 17, 2014. Written by Ruben Anlacan, Jr. (President, BusinessCoach, Inc.) All rights reserved. May not be reproduced or copied without express written permission of the copyright holders.