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Would it be better to start a business before or after college?
I want to start my own business but I'm not sure if I should wait until after college or start before. If I start before, how should I start?
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10 answers
Updated
Anika’s Answer
Deciding whether to start a business before or after college depends on individual circumstances and goals. Starting a business before college allows for early entrepreneurial experience, providing valuable lessons and insights that can shape future endeavors. However, pursuing higher education first can provide essential knowledge, skills, and networking opportunities beneficial for business success. Consider factors like financial stability, personal readiness, and the specific industry or business idea when making this decision. Ultimately, both paths offer unique advantages and challenges.
Thank you for answering. I'll look more into it !
Daniela
Updated
Aaron’s Answer
Deciding on the right time to start a business, either before or after college, hinges significantly on what you plan to study and how it relates to your entrepreneurial ambitions. If your college major is directly tied to business, such as in finance, marketing, or entrepreneurship, the knowledge and skills you'll acquire can be incredibly beneficial. College courses can offer deep insights into the fundamentals of running a business, from crafting a business plan to understanding market dynamics and financial management. This education can serve as a solid foundation for any business venture, providing you with tools and strategies to avoid common pitfalls and make informed decisions.
On the other hand, if you're brimming with a business idea that feels too good to wait, starting small during high school could offer valuable hands-on experience. This early start allows you to experiment, learn from real-world challenges, and perhaps even gain a foothold in your chosen market. However, balancing this with your education is crucial. College offers more than just coursework; it's a networking hub where you can meet mentors, future partners, or investors who share your vision. Plus, many universities provide resources like incubators and startup competitions that can propel your business forward.
Ultimately, the choice depends on your personal goals, resources, and the nature of your business idea. If you're leaning towards entrepreneurship, consider how your college path can complement this journey. Whether you choose to start now or later, integrating your educational experiences with your business ambitions can lead to a richer, more prepared entrepreneurial venture.
On the other hand, if you're brimming with a business idea that feels too good to wait, starting small during high school could offer valuable hands-on experience. This early start allows you to experiment, learn from real-world challenges, and perhaps even gain a foothold in your chosen market. However, balancing this with your education is crucial. College offers more than just coursework; it's a networking hub where you can meet mentors, future partners, or investors who share your vision. Plus, many universities provide resources like incubators and startup competitions that can propel your business forward.
Ultimately, the choice depends on your personal goals, resources, and the nature of your business idea. If you're leaning towards entrepreneurship, consider how your college path can complement this journey. Whether you choose to start now or later, integrating your educational experiences with your business ambitions can lead to a richer, more prepared entrepreneurial venture.
Thank you for answering my question, I'll look into it a bit more !
Daniela
Updated
Michaela’s Answer
My opinion is to start now! As soon as you can take action, the sooner you’ll begin learning.
The more experience you can gain along the way will allow you apply real world experience to what you’re learning in college.
You never know, you could create a completely different track for your education outside of what we know as conventional learning or a more traditional journey. What better way than learning hands on and being a little uncomfortable?
For example, I began my formal education and then launched my agency while I was still completing my program. I ended up having great success and took 5 years off. I recently enrolled back in classes again to finish what I started and I wouldn’t change my path one bit!
The more experience you can gain along the way will allow you apply real world experience to what you’re learning in college.
You never know, you could create a completely different track for your education outside of what we know as conventional learning or a more traditional journey. What better way than learning hands on and being a little uncomfortable?
For example, I began my formal education and then launched my agency while I was still completing my program. I ended up having great success and took 5 years off. I recently enrolled back in classes again to finish what I started and I wouldn’t change my path one bit!
Thank you for your encouragement!
Daniela
Updated
Saliek’s Answer
The decision to launch a business either before or after college is indeed a significant one. The answer? It's entirely dependent on your personal circumstances. Are you financially equipped to back your business concept right now? Or are you planning to secure the support of one or more investors? Regardless of your choice, having a robust financial plan is crucial. This holds true whether you're embarking on your entrepreneurial journey before or after your college years. There are two key distinctions between these paths. Firstly, initiating your business before college might limit your expertise. However, it simultaneously provides an immediate opportunity for your experience to flourish.
Strongly consider finacial stability.
Seek out support networks.
There's no one-size-fits-all answer, it's about finding the right balance for your unique situation.
Saliek recommends the following next steps:
Thank you for taking the time to answer this. I'll look into working with my financial plan a bit more.
Daniela
Updated
Ben’s Answer
I highly recommend checking out the Small Business Administration (SBA) for valuable resources. The SBA offers a wealth of materials that can guide you through the process of starting and growing your own business. Start by reviewing the SBA's content, which covers essential topics like business planning, financing options, legal requirements, and marketing strategies. This will give you a solid foundation and help you understand the fundamentals of entrepreneurship.
As you start building your business plan, pay attention to any areas where you feel you may have a knowledge gap. This could be in areas like finance, marketing, or operations. Identifying these gaps early on is crucial, as it will help you determine if you need additional education or training to fill those knowledge gaps.
As you start building your business plan, pay attention to any areas where you feel you may have a knowledge gap. This could be in areas like finance, marketing, or operations. Identifying these gaps early on is crucial, as it will help you determine if you need additional education or training to fill those knowledge gaps.
I will use this advice as I prepare for my career.
Daniela
Updated
Vanessa E.’s Answer
Starting a business can happen at any age, and college can actually be a great time to begin. Your age isn't as important as having a solid business plan and strategy. If you're leaning towards starting before or during college, take advantage of the resources around you - like access to mentors, networks, and possibly even university-led funding opportunities. Begin by researching your market, understanding your audience, and planning how to manage your time effectively. College environments can also provide a safety net for trial and error, allowing you to learn from mistakes with less risk. I did it! I don't have any regrets either. It has made me a savvier and more prepared businesswoman today. So, if you have a viable idea and the drive to see it through, there's no need to wait.
Thank you, this is really helpful.
Daniela
Diane Gaa, CPTM, SHRM-SCP
Director of Learning Design, Technology and Experience
10
Answers
Updated
Diane’s Answer
The perfect moment to kickstart your business hinges on your understanding of your target customer and the demand for your product or service. If you find yourself in this position, it might be the ideal time to transform a concept or passion into a thriving business. It's crucial to consider the amount of time you can dedicate to nurturing your business and fostering its growth. My own business blossomed in this manner, with one customer leading to many, and even after five years, my service is still sought after. When the timing is right, you'll sense it. Don't let fear hold you back from giving it a shot, even if things don't pan out initially. I've experienced numerous business setbacks before landing on a successful venture. Keep refining your product or service and maintain a sense of curiosity.
This was super helpful, thank you!
Daniela
Updated
Rafael’s Answer
Deciding whether to start a business before or after college depends on your personal situation and goals. Starting before college can give you more time and flexibility, but it may be challenging to balance with your studies. Starting after college can provide a more stable foundation and access to resources like networking and mentorship. If you choose to start before college, do your research, network, start small, and seek guidance. Ultimately, it's up to you to decide what works best for you!
Thank you for taking the time to answer this, I appreciate it!
Daniela
Updated
Eric’s Answer
I did my degree in International Business and Entrepreneurship. In one of my first classes of "Introduction to Entrepreneurship", our prof explained that being a university student is a great time to start a business.
You're likely familiar with being frugal, your expenses and dependencies are likely the lowest they'll be in your life, and you can solve problems with creative solutions. While being a university student, you can tap into some excellent resources to aid your new business; bright minds with your professors and students, the library, and networking events.
Happy to answer any questions you have!
Best of luck,
Eric
You're likely familiar with being frugal, your expenses and dependencies are likely the lowest they'll be in your life, and you can solve problems with creative solutions. While being a university student, you can tap into some excellent resources to aid your new business; bright minds with your professors and students, the library, and networking events.
Happy to answer any questions you have!
Best of luck,
Eric
Thank you so much, Eric!
Daniela
Updated
Damion’s Answer
Hello,
It seems you're contemplating the idea of launching a business. Before you dive in, it's crucial to conduct thorough research.
Firstly, ascertain whether there's a genuine demand for the type of business you're considering.
Next, evaluate the level of local competition. Also, identify any potential barriers that could hinder your progress, such as high startup costs, regulatory requirements, and licensing processes.
Following this, assess your availability. As a student, you'll need to juggle your academic responsibilities alongside your business. To excel in both areas, ensure you can manage the demands of each without overstretching yourself.
Both school and business can be demanding, placing a strain on your time, emotions, and physical wellbeing. So, it's essential to strike a balance.
I wholeheartedly wish you success in your academic and entrepreneurial pursuits!
It seems you're contemplating the idea of launching a business. Before you dive in, it's crucial to conduct thorough research.
Firstly, ascertain whether there's a genuine demand for the type of business you're considering.
Next, evaluate the level of local competition. Also, identify any potential barriers that could hinder your progress, such as high startup costs, regulatory requirements, and licensing processes.
Following this, assess your availability. As a student, you'll need to juggle your academic responsibilities alongside your business. To excel in both areas, ensure you can manage the demands of each without overstretching yourself.
Both school and business can be demanding, placing a strain on your time, emotions, and physical wellbeing. So, it's essential to strike a balance.
I wholeheartedly wish you success in your academic and entrepreneurial pursuits!
You rock! This advice is very helpful.
Daniela