5 Reasons to Run Business While Studying at University

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5 Reasons to Run Business While Studying at University

Postby RichardNolan553 » Thu Jan 18, 2018 4:03 am

University is mostly seen as the time to acquire knowledge and have fun in the process (even though some people see it the other way around). Still, for some of the most industrious and determined students, these years can offer even more opportunities, and starting the very first business is one of them.

Sure, launching a business while still studying sounds like a risky, time-consuming, and exhausting task. While it is technically true, there is also an upside to this undertaking. Here are just five reasons why all gifted students should consider running a business while studying at university.

Risk/reward ratio
All you need to invest is your time and knowledge. No one expects you to take business loans (and no one will probably offer you one, to begin with). So, if you start with something small (an app, an Etsy store, etc.), you’ll have a chance to monetize big — at least, in comparison to what you’ve invested. Even if you do not earn a lot, a zero money investment and some profits is already an unprecedented ROI.

All colleges and universities offer access to an unparalleled knowledge base (libraries, databases, seminars, etc.) Later in life, you will have to pay big bucks for all of the above. Sure, to be quite honest, you are paying for these resources even now (your tuition fees). So, why not try and make them work in your financial favor?

Human resources
Very few businesses can be run solo, and if you are looking for partners and/or employees, your campus is the best place to find them. First, a lot of talented people do not yet fully understand their worth, which is why they will be ready to work for/with you for a relatively low salary. Then again, you can find amazing partners for your enterprise and share future equities if the business starts off. Who knows how many future CEOs live on your campus?

Academic application
Most likely, you will be starting a business that is somehow related to your field of studies. This, in turn, will give you a lot of practical, experimental data for your future thesis or process analysis paper topics. Sure, it will not always be the case, but if you have a chance to apply your newly-gained business insight in a master’s thesis, these experimental data will score you a lot of points in the academe.

Career building
Then, of course, it is always great to have some work experience to mention on your resume — that is, if your business does not take off and you decide to apply for a regular job after graduation. Human resource managers are looking for driven, determined applicants and the best way to highlight these qualities is to gain some professional experience while still studying.

Bottom line, running a business while studying at university is a great idea because you simply cannot fail. Even if your business does not succeed, you still gain valuable experience, which is priceless. Then again, there is a chance to earn some extra cash, which is another undeniable perk.
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