If you are a high school or college student, and have an idea for a business, then now is the time to start it. Why? How could a student be in any better position to form a startup than someone outside of school? There are three major reasons:
- Students are at the lowest risk they will ever be to start a business
- Students are much younger than their competitors
- Students have the internet (and have known it longer than anyone else)
As a student, you don’t have to worry about bills, putting food on the table, paying rent, etc. This allows students to start a business and fail without any serious consequences. Failing is an important part of learning, and being a student allows you to experiment with different startup methods/ideas without worrying about the responsibilities a non-student would have to worry about.
In addition to having lower risk, you also have an age advantage. Most people who start businesses are out of school and in their late 20’s, or early 30’s. Established businesses prefer to communicate with younger audiences for two reasons: 1.) they think that students are less threatening to their business than other adults, and 2.) they see students as an opportunity to gain a life-long customer. By taking advantage of these two perceptions, a student can gain more momentum in a startup situation than non-students can.
Lastly, students have the internet. Although all entrepreneurs have access to the internet, no matter what age, today’s students are more familiar with the technology than any other generation. Students of this generation have been using the internet almost since birth, giving them a huge advantage when creating a startup. Also, going back to the idea of low risk, by using the internet an entrepreneur is at very low risk when starting a business. Creating a website that sells things, or an app that charges money for extra lives, boasts very little startup costs which is good for any student-entrepreneur.
By leveraging all of these advantages, a student can be in the best position of a lifetime to start their own business. So get out there and start creating!