Connect with us

Business

Know Advantages and Disadvantages of Starting a Business in College

Published

on

a Business in College

There are several advantages of starting a business in the pre-college days or while doing college. This gives an early start to a student’s professional career. All students are focused nowadays.

Advantages and Disadvantages of Starting a Business

There are different instances where young entrepreneurs have provided different unique and innovative solutions to some of the identified problems. It is a need for young entrepreneurs to come forward with their innovative and creative ideas and give a boost to the slow economy. 

College students dream of working as independent personalities. There are different platforms through which they can easily raise funds for their USP and earn revenue form their sales propositions. There is no doubt that the start-ups provide huge scope to earn revenue and grow to new heights. 

But there are disadvantages that the college students may be unaware of due to their vast theoretical knowledge about the market and less experienced in real-life organisation. 

The first distinction that needs to be made when you start a business is what kind of business it’s going to be. Will you be the sole owner? Will someone else be co-owning with you? If it is the former, this is referred to as a sole proprietorship. The advantages of this type of business are the fact that they are easy to start up and close if need be as well as giving the owner the flexibility of being their boss. 

Owners of this type also retain all profits earned. On the other hand, if a student wanted to start a business with a friend, they could go into it as a partnership where each person holds a certain level of responsibility for the company. For one, two students starting a business can pool their resources and knowledge. Unfortunately, the development of a partnership doesn’t take away the idea of unlimited responsibility for the owners if they are general – meaning equal – partners.

There are different platforms through which they can easily raise fund for their USP and earn revenue form their sales propositions. It is no doubt that the start-ups provide huge scope to earn revenue and grow to new heights. But there are disadvantages that the college students may be unaware due to their vast theoretical knowledge about the market and less experience in the real life organisation. 

Nowadays startup is the ultimate dream to every college graduate. Students are more interested in venturing into startup rather than joining corporate firms and college is a great platform to learn as they get a chance to learn a variety of new skills and put those skills to use. 

See also  Eric Dalius: How to keep on top of new/hot products and ensure your customers remain loyal

But starting a startup isn’t something you should jump into without career consideration. It may sound very fascinating but you need to know what all positive or negative aspects are there in starting a startup in your college days. During collages, a student may not have a proper idea of business implementation but you are free to consult a professor who is filled with knowledge and experience. 

But once you are out of college you need to hire consultants who will charge for advice. Even if you start a business in college and it fails, it’s a huge plus on your resume. Starting a business shows that you’re proactive, creative, and driven–just the type of employee successful companies are looking for. 

During college days, friends and family members are more supportive. After college, there is an automatic pressure of earning that stops the mind from thinking creative. There are a lot of disadvantages such as students cannot restrict business to only one place. Your business needs to expand. But for that, you need more employees. 

Any startup or starting a Business in College needs time and effort. There is a need for dedicating a lot of time in building and maintaining a business. This may deviate you from your college academics which can lead you to not focus well on studies and probably get failed. 

Most of the youngsters are enthusiastic to start something but they don’t know important things like how to get a license, registration process and protocols as per government regulations. They don’t have the skill about how to talk with customers. 

It takes time to learn such skills and not easy to do without a few years of real-life experience. Being a college student it is difficult to do market research and market a product. In such cases, the only source of marketing is word of mouth and some social media marketing. 

Everything has two sides of a coin, so you just need to review all the options before starting anything.  The student must start their business for, Teamwork, professional communication, time management, project management, problem-solving, creativity… start your own business, and you’ll have no shortage of ways to prove you possess all of these highly valued professional skills. 

Advantages of starting a business in the pre-college

There are several advantages of starting a business in the pre-college days or while doing college. This gives an early start to student’s professional career. 

See also  5 product ideas for Etsy business

Most of the youngsters are enthusiastic to start something but they don’t know important things like how to get a license, registration process and protocols as per government regulations. They don’t have the skill about how to talk with customers. It takes time to learn such skills and not easy to do without a few years of real-life experience. Being a college student it is difficult to do market research and market a product. In such cases, the only source of marketing is word of mouth and some social media marketing. 

Everything has two sides of a coin, so you just need to review all the options before starting anything. The students are focussed now a days. There are different instances where young entrepreneurs have provided different unique and innovative solutions to some of the identified problems. 

There is need that the young entrepreneurs come forward with their innovative and creative ideas and give boost to the slow economy. The college students dream of working as an independent personalities. 

There are different platforms through which they can easily raise fund for their USP and earn revenue form their sales propositions. It is no doubt that the start-ups provide huge scope to earn revenue and grow to new heights. But there are disadvantages that the college students may be unaware of due to their vast theoretical knowledge about the market and less experience in real-life organisation.

It can be concluded that there are different platforms through which they can easily raise fund for their USP and earn revenue from their sales propositions. It is no doubt that the start-ups provide huge scope to earn revenue and grow to new heights. But there are disadvantages that the college students may be unaware due to their vast theoretical knowledge about the market and less experience in the real-life organisation. 

The students are focused nowadays. There are different instances where young entrepreneurs have provided different unique and innovative solutions to some of the identified problems. 

There is a need that young entrepreneurs come forward with their innovative and creative ideas and give a boost to the slow economy. The college students dream of working as independent personalities and the start-ups provide them such satisfaction. 

Author Bio: Jessica More is a writer and blogger. Having received my Ph.D. from one of the most renowned universities in the USA. At present, She is associated with Assignmenthelp.us, where she provides paper help to distressed students.

 

Click to comment

Leave a Reply

Your email address will not be published.

Actors

Actresses

Musicians

Models

Amazing Facts