Generally, work life kicks off after you complete university life. Some prepare to get a suitable job while others choose business as a career. But there are a number of students who start their own business while they are studying at college or university. What are the benefits of starting a business as a student? Let’s find it out here:
Five amazing benefits of starting a business as a student:
1. Accessibility to library and faculties
When you are a student, the biggest advantage you have is the open access to the library of the institution and faculties. Someone, who already has completed study at campus cannot avail this opportunity. At university libraries, there are a good number of subject related books and journals that are rich in contents. On the other hand, due to continuous research works, faculty members are also sources of updated knowledge and insights.
This consultation with teachers and library work helps a student to fine tune his or her business idea. Once you passed out of college or university, it is not like you will lose the access, but being a running student of an institution has some more benefits like –
- Library research is possible during class days.
- Teachers can be contacted easily
- Senior and junior students always appreciate the spirit
- Name and fame spreads quickly
2. Exposure to resource persons
Universities always organize programs for students that are led by successful persons from different professions. These resource persons are living examples of success and persistence. When you are a student and are aware of such programs, you can easily get to participate in such programs and listen to their stories.
For example, a Business Club in a university may organize a session to inspire students to become entrepreneurs. When budding entrepreneurs will grace the program and start their struggle and how they stuck to their dreams going against odds, it will be hugely impactful for the students who want to become entrepreneurs.
Quotes or speech from them can be a great source of a fresh perspective that can lead to a new way to think or become an entrepreneur.
3. Enhanced status
As a student when you will be –
- Busy with your business work
- Adding value to peoples’ life
- Earning to pay your bills
You will be recognized as a responsible family member. People around you will treat you with additional respect and fondness. A student’s primary job is to study and is assumed to take expenditure from guardians. But when the student is arranging the tuition fees, it becomes a thing to recognize and appreciate.
On the other hand, when you will try to start your own business after completing your formal education, there will be a constant urge to earn quickly. Unfortunately society is not always supportive enough to allow required time to start and become income worthy.
4. Unshakable confidence
One notable advantage of starting a business while studying is the unshakable confidence. This is really difficult to carry out both study and business at the same time. Both of these works demand ample time and focus to shine in.
When you are able to do it creating success in both, you are endowed with a high level of self-confidence. You feel that nothing is difficult to you anymore. This feeling gives you the following advantages:
- A positive viewpoint towards challenges
- Lack of fear of failure
- Self satisfaction
- Increased courage
- Trying innovative ideas
It says success brings in more success. When there is no pressure of study, you get to focus solely on your work. Be it business or job. But as a student managing both study and business and becoming at least somewhat successful in both leads to huge confidence to face the world.
5. Orientation with work life
Another unique advantage is that at the early stage as a student when you will manage business venture, you will –
- Deal with customers of varied temper and attitude
- Work with experienced suppliers
- Practice negotiation skill
- Learn to convince people to your terms and conditions
- See and embrace the uncertainty of work life
As you are involved in all these situations you get a realistic preview of professional life. What more people get at the later stage of life, you experience it early, being a student.
To be successful in professional life, this is crucial to have effective exposure to that life. Gaining this experience early in life is rewarding. The early experience helps a person to be prepared well to survive with confidence.
This is how a student gets unique advantages for starting a business. Starting and managing a business is never an easy job as it requires a special skills set and dedication from the business owner. But when someone starts a business while still studying at a college or university, it is a blessing for the above five reasons.
Writer:
Abu Md. Abdullah
abdullah@easternuni.edu.bd
Associate Professor
Faculty of Business Administration
Eastern University
