Why College is the Best Time to Start a Business
October 14, 2014 at 12:19 PM
Editors Note: The following post was written by Short Report contributing writer Danny Goldberg, an Information Management & Technology student at the Syracuse University iSchool and founder of Golden Gear MMA and Diamond MMA. Goldberg was recently recognized as #6 in Inc. Magazine's list of the top 100 coolest college startups.
I've been selling the worlds most protective boxing equipment to professional world champion fighters since I was 15 years old. Chasing my passion as an entrepreneur and studying full time has consumed the past 7 years of my life. While it hasn't been easy, I can confidently say college is the best time to start a business – Here’s why!
- Time: As a college student, we have so much time. Yes, we have school work, and commitments to clubs, or Greek life… But us college students are used to working weird hours, pulling all nighters, and working through the night. When you graduate you are going to have to get a job (likely 9-5) and then the only time you will have to work on your venture is when you get home from a long day of work and when you are extremely tired and stressed from your full time job. You have a lot of free time in COLLEGE.
- No Need to Support a Family: You don’t have to wake up and get the kids ready for school and come home and cook dinner for the family. You have no family commitments so again you have all the time in the world and very few distractions. Take advantage.
- Resources: You have all the resources in the world. So you have an idea, but just need a team… Right? Well College has everyone you could possibly need. Need to find a partner, or need help making a website… Go find students who are passionate and go-getters like yourself, and go talk to them. Tell them about your idea and get them to join your team. At Syracuse University I have access to students who are great at video editing and photography (Thanks to Newhouse) Need a developer… (I have students who have been coding since they are 5 years old thanks to the iSchool). But wait… need advice or a mentorship…. you can reach out to sooo many professionals (all your professors). At Syracuse, I have the student incubator, The Student Sandbox. The mentors and free incubator space provided from the Sandbox has been extremely helpful in growing my business. Reach out to your professors, find a mentor and ask them for help. Take advantage of your network.
- School Incubators / Entrepreneurship programs: There are so many schools creating strong entrepreneurship programs. Go there! Meet with the entrepreneur in residence who runs the program and see how you can get involved. It is likely that your school hosts business competitions for you to pitch your idea and win money to help accelerate your business. Take advantage of it.
- Best Time to Fail is in College: College is all about discovering who you are and learning . Well the best way to learn is to fail. And the best part about failing in College is that if you do fail, you are in the same spot where you started… (well actually a better spot) You learned so much trying to make it happen and are way ahead of a lot of your friends) Take that to your next interview… I started my own business…. So maybe it doesn’t workout… but you have no bills to pay, no family to support, and the only thing you gained is knowledge and skill.
So… take advantage of starting a business in College.