I have only one regret about college: I should have started my business earlier.
If you’re in college and want to start a business, you may be like I was and just tell yourself to wait until you graduate.
It may look like it’s easier, but trust me: there is no better time to start your business than while still in college.
Here are 5 reasons why.
1. Free Time
Ok, yes, I understand you have a full schedule of classes and lots of homework and extracurricular activities like excessive partying, but when you’re in college, you have far fewer responsibilities than when you graduate.
As such, you have the ability to control your schedule. You can move your class schedules around, or maybe even decide to take a night off from partying.
And don’t forget about your summer breaks.
Right now, you have far more free time than you’ll have again in your life.
2. Free Resources
You may not realize it, but your school’s library is a gold mind of information for an entrepreneur. Not only can you find almost every business book ever published, but you have completely free access to electronic databases that cost over $10,000 a month.
These databases give you access to information that can help you plan your business, such as industry and market research.
Your college campus is one of the strongest social networks. Think about it: you live, work, and sometimes even sleep with these people. And when you’re not with them, you’re connected over the internet.
Some of the fastest growing businesses launched out of college campuses. Think Facebook and Napster.
Tap into your college network and use it to launch your business into viral fame.
4. Business Plan Competitions
Almost every college holds business plan competitions and have healthy rewards.
A friend of mine entered a business plan competition at his school and won over $25,000, which he used as seed money.
Go to your college’s business school and find out when the next business plan competition is.
5. Your Professors Will Help You
You may find your professors’ lectures boring, but you can’t deny they really know their stuff. They can help you with your business.
For instance, one of my professor owned an advertising agency. She helped me figure out the advertising for my business. My finance professor helped me with the financial aspects of my business. And one even introduced me to a number of successful entrepreneurs who guided me with my launch.
And the best part: professors actually WANT to help you.
So, as I said, there’s no better time to start a business than while you’re in college. If you’ve been considering starting your own business, it’s time to start right now.