Why College is The Perfect Time to Start a Business

Many kids attending college dream of running their own company one day. The problem is that they don’t know how to get there and the University typically doesn’t provide the needed entrepreneurial education. I was one of those kids. In my fourth year of undergrad at Michigan State University I was studying for a degree in the food industry and had no idea what to do after college. I did know however, that one day I would own a company of my own. My entrepreneurial spirit was instilled during my adolescent years, working at my dad’s wholesale grocery store. The fire continued to grow throughout college, so when a friend approached me with a business idea I was completely receptive.

That was two years ago. Fast forward to the present day and I’m now the co-founder of Leftos.com, an anonymous place for people to discuss issues related to male and female interactions. Over the last two years I’ve learned a lot – and definitely still learning – but one thing has become most apparent through it all…college is one of the best times and/or places to start your first company.

Sure, it’s easy to assume starting a business is near impossible when you’re busy going to class, studying for tests, working the part-time job, and doing a little partying at night. Not to mention, you have no experience, no money, and few connections. Well you’re right; it is easy to think that way but just because you think it’s impossible, doesn’t mean that you can’t do it. Here’s why:

Time: Your available time is stretched during college; that is a certainty. You have to clean, do laundry, cook, study, go to class, possibly work, and still make time for social activities. This is the reality of life. Once college is over you still have those responsibilities, plus a hundred more. However, there are ways to adapt. Instead of going out three days a week, make it two, and dedicate one full night to your new business. Use those 45 minutes between classes to your advantage; instead of picking up the school newspaper, research your business venture. Utilize your time at home and put down the video games or say no to a movie. You will never have as much energy/as flexible of a schedule as you do now – take advantage of it while you still can.

Experience: Experience is overrated. Bill Gates, Steve Jobs, and Mark Zuckerberg didn’t have prior business experience when they started Microsoft, Apple, and Facebook. They simply took an idea they believed in and learned as much as they could on how to expand it. Many seasoned professionals claim experience is purely based on the amount of years worked. The truth is, time does not always translate into experience. I have been blown away countless times by how little a 15 year veteran knows about a current event happening in his/her own industry. I end up knowing just as much as they do, simply because I’ve worked hard and done my research. Don’t worry about having experience. If you believe in your idea, you’ll figure out a way to obtain the information you need to succeed.

Networks/Connections: There really is no better place for networking and building connections than a college campus. It’s no coincidence that Silicon Valley emerged in a region filled with some of the best universities in the world. Campuses are hubs filled with knowledgeable and forward thinking individuals. The students are there to start careers and the professors are there to provide them the tools. Are you a business guy looking for a tech guy? Go to some local tech meet-ups or sit in on a tech class. Reach out to that community. Same goes for a tech guy looking to find a business mind. Look at your professors as consultants that you can use for free. Pick their brains. The majority of them wish students would approach them with real world ideas. Fun fact if you didn’t already know: Google started as a research project at Stanford. You’ll never have an easier time meeting people from all types of backgrounds than in college. Step outside your friendship circle and shake some hands.

Money: You might not have any money to dedicate towards a business and you may barely be getting by on living expenses as is, but at the end of the day that doesn’t matter. With the flexible schedule that you have, you will able to educate yourself like an experienced industry vet in a well-diverse network of people, helping to turn your idea into a business while barely spending a dime. Out of college, resources that often come free as a student will cost you lots and lots of money. To shore up time and study a new industry means to take work off (less income) and to surround yourself with skilled people and/or a consultant means you have to hire them (costs money). You need to get out there and find fellow students who believe in your idea and want to build a business with you. It’s better than free work. Shore up time together, use multiple brains for research instead of one, and share each other’s networks. Next thing you know, your product is ready to showcase to potential investors. When starting your business, the last thing you need to worry about is money. Instead, focus on putting the right pieces together. If you can do that, you’ve already figured out half of the puzzle and the money will fall into place.

Last, and most importantly… you’re young, college educated, and have absolutely nothing to lose!

Ken Wohl is the Co-Founder of Leftos.com, a free and anonymous place to discuss issues related to male and female interactions.  Ken is a recent graduate of Michigan State University and an independent consultant.