College life is full of new experiences and the time spent here often creates the best of memories. College is a pretty busy time with exams, events, plans and hanging out. Having your own startup isn’t something that is usually on a student’s mind. However, times are changing and changing with it is the trend of starting up late.
Conventional wisdom tells us that working for a couple of years before starting up is necessary as it gives young people the experience required to know how business works. While this is a very strong argument, it doesn’t seem to be true in today’s fast paced world. In fact, a very strong case can be made to prove that college is the best time to startup.
Ease of finding mentors
Colleges are treasure troves of knowledge as well as experience. It can come in the form of professors, administrators and often your fellow students. All of who can provide you with advice and motivation needed to carefully structure your idea and find methods to make it more and more viable. This key access to mentors is something you will find difficult to get in the later stages of life.
The built in network and market
In many instances your friends and classmates provide you one of the most important markets– youth. A student-centric startup will be flexible and easy to modify according to the needs of the consumers.
The access to alumni network
In college you have access to some successful professionals and startups in the form of your alumni. Students can take advantage of these alumni by reaching out to them when they come to address the students or through the alumni associations. Many of them will be willing to help and their advice and experience is invaluable and will go a long way in helping you build the right startup.
The opportunities are limitless
Many colleges offer help and support to students through E-cells and CIIEs, which will play the role of your incubators and advisers, and best of all, they don’t charge you for these. These associations help you find the right team from the pool of students and inform you about opportunities and competitions for startups.
You can make mistakes
As opposed to startups as a profession where you can’t afford to make mistakes, college startups give you the flexibility to make mistakes as you are only liable to yourselves and don’t have to pay your own bills.
Students provide highly skilled and inexpensive labor
Your fellow students are always available to help you out and their services are usually inexpensive. Student startups can benefit from these vast pool of human resources.
Provides some invaluable experience
Irrespective of whether your startup works, having a startup at a young age will give you some very good experience and a fine insight into the business world and for all that’s worth, it’s a good CV point.