Thankfully, I was able to start my first business as a senior in high school. The opportunity to start my business so early on in life was a blessing, because I got first-hand perspective on a lot of things.
As I balanced school and business simultaneously during my college years, I quickly learned something extremely valuable. There were a lot of real-life lessons I was learning from running my business that I didn’t learn in the classroom.
In this article, I’m going to share why you should start a business in college and the 5 things you’ll learn from starting a business in college that you won’t learn in class:
1. There Is No Formula
School is all about listening to lectures and reading through textbooks to pass tests on the material. No matter how much material you read, you will never really have a precise formula on how to be successful as an entrepreneur.
The reason for that is because there is no process or formula to becoming a successful entrepreneur. It takes grit, grinding and a lot of patience. You have to learn on-the-go and, most importantly, make discoveries as you apply yourself.
No matter what class you take in college, you will never know what it takes to be successful as an entrepreneur until you actually go out there and try it for yourself.
2. How To Sell
No matter what it is that you choose to do after college, you have to have the ability to sell. If you start a business, you have to sell yourself to get new customers, new employees or even new partners.
If you choose to get a job, you’re still going to have to sell. Instead of selling something, you’re going to have to sell yourself during the interviews to land a job.
Selling is probably the most crucial skill of all, but, unfortunately, college isn’t the place to learn how to do it.
3. Education Is Continuous
College does a great job of making you feel like you never have to learn another thing after getting your degree, but your education is just beginning. If you truly want to be successful, you have to forget about the hundreds of thousands of dollars you spent on your college tuition and continue learning on your own.
College will never tell you to continue pursuing an education after graduating or how to learn upon graduation. Any business owner, however, can tell you how vital learning on-the-go is to be successful as an entrepreneur.
4. No Doesn’t Always Mean No
College doesn’t tell you much on how to deal with rejection. For some reason, college is taught in such a way that they almost make you feel invincible. As long as you get your good grades, nothing can stop you and everything will go your way.
Ask a college graduate about that and they will tell you their horrific stories. Not only are you going to face rejection from the world, things also aren’t always so pretty on the other side.
However, as a business owner, you must have a lot of persistence and willingness to accept rejection. If you hear the word “NO,” that doesn’t mean you should stop. That just means you should try again in another way.
5. You Have To Do It All
College doesn’t necessarily prepare you very well to be an entrepreneur, because it doesn’t help you diversify your skills. When I started my first business, I was literally the sales guy, project manager, customer support guy, marketing guy, and the accounting guy.
I had five roles that I had to balance simultaneously. Had I gone to college, I would have only sharpened up either my marketing skills or my accounting skills while leaving me high and dry for everything else.
If you wish to be a successful entrepreneur, you must realize that you may end up having to do it all when you start your first business. College won’t prepare you for that, but you should be aware of the possibilities.