Most people go to college as a way to learn what’s necessary to get the job they always wanted. Unfortunately, finding work after college isn’t a slam dunk. According to Forbes, nearly a third of 2011 and 2012 college graduates have yet to find work as of May 2013. The average student is knee-deep in more than $35,000 of debt after graduation, as CNN Money reports. You don’t want to rely on a fickle job market when you have creditors breathing down your neck. Your college years are the ultimate opportunity to get the best kind of experience. By starting your own business, you’ll not only have a source of income, but you’ll learn the skills that will get you hired after graduation.
The Reality of College
College is a necessary rite of passage, but the reality is that college doesn’t adequately prepare you for life. Sure, you’ll learn a lot in your classes, but nobody should expect to walk off campus, into a corporate board room, even with a degree from Yale or Harvard. Landing a good entry-level job requires not only solid grades, but also relevant experience and the ability to handle the social aspects of interviewing. Those last two can’t be taught in a classroom. Starting your own business will show future employers you can handle a serious workload. It’ll also showcase your initiative, which is something that is difficult for college graduates to quantify. Lastly, it’s a backup plan in case you can’t find a job right away.
Free Time
There are certain things you just can’t do at certain points in your life, so you may as well do them when you can. You won’t want to start a business after a full day at work, and it’s difficult to do it after you start a family. Your best bet is to start a business in college, when you have the free time to put into your new company. You might lack some of the things you’d have later, but there’s no substitute for time and ambition, which you likely have in abundance at this point.
The Internet
The amazing power of the Internet removes many of the barriers that have traditionally interfered with starting a business. In fact, you can even handle many of your business functions from your smartphone. Thenextweb.com highlights some useful apps. You can use Dropbox to store your files, Highrise to keep track of conversations with contacts, and SignEasy to sign formal documents without having to print them out. Social media, needless to say, is essential for any small business, for promotion and interaction with customers.
Online Education
The Internet will undoubtedly help your business, but it can also be beneficial in bringing you closer to the education you really want. Career-focused schools such as Penn Foster can help you learn about the career of your dreams in the comfort of your own home, maximizing the chances of your business success. You could also benefit from the social media reach of these schools and the independence of learning without someone watching over you all the time.
The Ability to Think Small
The most significant reason to start a business in college is that you’ll be able to create a test bed for opportunity. It’s not a surefire way for your family to become wealthy, and it’s not a replacement for a full-time job. It’s just something small you can spend your spare time with that could eventually become significant. With that piece of the puzzle in place, the possibilities become endless.
College students have made legitimate businesses out of relatively minor skills, such as fixing iPhone screens and making inexpensive jewelry, as USNews highlights. At this stage of the game, it’s not so much about what skills you have, as it is about finding an untapped market, and putting in the effort to fill that niche. Even if the business fails, you’ll learn an awful lot along the way, and those lessons will be very beneficial in finding a job after college.
