Establishing and running a business while studying is one of the more demanding tasks in life, if not the hardest. But with efforts come the rewards. Here are some of the benefits of establishing and running a business while also pursuing a university course.
● Early entry into the market
● Self-financing of the university degree with the profits achieved
You will own a well-established and profitable business when you start it early while pursuing your university degree. The young mind is full of ideas, and you will also have ample of energy that will help you achieve success in business and in studies.
Formation of a company in the UK by a student is not uncommon or rare, as a recent survey shows that more than 24 percent of students are currently taking part in some kind of business.
What to sell
Not all of us are highly innovative. It is more than likely you would be making or selling a product or service that is already there in the market. But entering the market second has its own merits. Studies show that the companies that enter the market second (after another, or the pioneering company) are more successful, as they learn from the mistakes made by the other “first” company.
Launching the business
Any business would require resources. With a capitalisation of all economies, there is no dearth of financing options. You can approach the banks and other lenders and get the capital at an interest rate. For turning your ideas into reality, you might also need the workforce, and an office and/or manufacturing space.
Don’t rely on capital investing towards ideas, as the capital lending firms do not invest merely in ideas. The initial set-up of the business falls into your own hands. The investors will gather around you once it gets successful. Angel investments are a boon for the start-up businesses, but the investors have their own criteria for checking the fruitfulness and reliability of an investment that they make.
Set gear for going full throttle
People land up doing many different things in life and land up at a govern course of work after many efforts. Some fail to decide their course of life and others take whatever they are offered. Many also opt for volunteering. One advantage that an early business will give you is that you will always be on the right path of success. Your own business is better than searching for a new job every year.
Learning early has its own merits
You turn up being a better professional by starting early. As there might not be any work available for you at the university, you own business will provide that hearty break from studies that you might be looking for. You will learn what a job requires, apart from a college degree. You will learn what to eat for good health and greater energy, how to act and perform better, and will know what the business world demands.
We all have to build a career. Mark Zuckerberg started early, and his accomplishments are there for all to see. Nobody knows his or her destiny. What we know are the efforts that we can do to achieve our goal. A business during college years gives you stability, independence, and peace of mind. The responsibility at this time is minimal while the returns can be greater than what you can imagine!