Why College Students Should Start Businesses

University grades are not everything in the real world, but experience is. Gone are the days when a college degree guaranteed a well-paid job. More people have college degrees than ever before. For college students to set themselves apart, starting a business can be one of the most fruitful decisions of their lives. It can also set them on the path to independence and freedom at a young age.

We live in a different world. Jobs in just about every industry are going overseas or being replaced by machines. Fewer people are choosing or being able to find full-time employment, much less a stable job that is enough to raise a family on and eventually retire. At the same time, technology is making more opportunities possible than ever before. As a result, more people are choosing to pursue side hustles and start businesses.

I woke up to this reality after graduating from college, and it was depressing at first. Like many college students, I made the mistake of focusing on grades and the college experience instead of gaining work experience. My options seemed limited. I could do a job I hate, go back to school, get a low-paid or unpaid internship, or maybe I would get lucky after some networking.

I had thought of entrepreneurship as something you do if you are Steve Jobs or have decades of experience in your career. Then I started taking side jobs as a private tutor. I realized that there were so many other opportunities out there, both full-time and part-time, that would allow me to utilize my skills and interests in a way that is valuable to others, make my own schedule, and have control over my work environment.

We do not call children running a lemonade stand entrepreneurs, but that is what they are. Just as we teach our children that school and grades are important, it is incumbent on us to inculcate them with an entrepreneurial mindset.

College is the perfect time for students to try new things and take risks while they are getting their degree. It is likely the first time when they are living away from their parents and free to discover themselves. This makes it a powerful time to unleash one’s creativity and build skills at the same time.

Because students are busy with exams and so many other activities, entrepreneurship is a great way to gain work experience because it is flexible and versatile. When running a business or pursuing a side hustle, you gain management experience, customer service skills, communication skills, and knowledge related to your career. You might even make enough money to pay for your tuition, or to have some extra spending money at the very least.

Starting a business as a college student is a smart move. It puts you a step ahead of degree-holders looking for someone to hire them even though they have little or no work experience. It also teaches you important skills and can be your path to financial independence.