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Should you start a business while in school?

October 28, 2016

 

Is school worth the investment? Well, many would answer “yes,” however, many would also answer “no.”

 

I have my own opinion on such an iconic question, but I'm going to leave that for another blog! Today, I want to talk about the amazing benefits available to anyone who is currently attending University. If you've ever thought of starting your own business THIS IS THE TIME! Why? Well let's get into that:

 

The Golden Card….. Play it!

 

One of the most powerful cards in your entrepreneurial deck is the “I’m a Student Card” or as I call it the “Golden Card.” If you don’t believe me, try it next time you're wanting to land a meeting, or cold calling potential customers. Whether you're starting a local landscaping business for some summer income or trying to launch the next Google, all you have to do is say Hello my name is ……….,  I'm a student at ………….., I was just wondering if …………? The person that you are speaking with will almost always lower their guard and be intrigued to hear you out! Ultimately, this will give you that golden opportunity to gain a new business relationship to learn and sell. I used this exact tactic to acquire my first customers for the marketing company I started in my second year at Guelph University, which I grew to the point where it was making 5 figures a month at its prime. I even used this tactic while starting up my current project Lendr in my third year, which allowed me to secure 80 letters of intent from prospective customers. 

 

Who needs Workopolis.com?

 

Students don’t that’s for sure! If you're a student, you’re a part of one of the largest groups of people who are both unemployed and smart. The amount of students who are open to participating in a new venture for little or no money is unbelievable. Everyone likes to dream, and no one wants to do their school work, so instead many students choose to procrastinate by helping someone launch a start up. But, in all seriousness there are tons of hungry smart students who want to learn, gain experience , and potentially benefit from the upside of a successful venture. Finding these individuals at your school is also relatively easy, because your school segments itself into areas of study. If you're looking for engineers, just go hangout in the engineering buildings and ask around! Both Lendr's business team and engineering team have been solely built through this strategy. Linkedin is a great scalable way to do this as well because you can filter based on school and program. All you have to do is send some connection requests and direct messages and you will be amazed at what happens.

 

Chances are your school will help?

 

Colleges and Universities are constantly conducting new research projects and are very open to helping their students succeed! ASK YOUR SCHOOL FOR SOME HELP! You know that famous alumni list that your school sometimes talks about? Well they want you to do something amazing, so they can have you on it with the goal of attracting new students. If you need help on the business side schedule a meeting with one of the business professors. It’s that simple and that easy! Most Universities even have on campus startup incubators that provide funding, mentorship, and office space. We got into the Guelph University one called the John F. Wood Centre for Student Business and Enterprise where we were given the money, training, and space needed to launch our product. 

 

Overall, being a student provides you with a ton of advantages and there really isn't much risk of failure as you often have no real responsibilities yet and it will provide you with great experience that you can utilize in the job market. 

 

Read more articles by Ryan Frampton: Click here.

 

 

 

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