If you’re at a crossroads between starting a business or getting a college degree, do know that the choice isn’t an easy one. The majority of college students are tempted by the idea of starting their own businesses. But even more so, it’s the thought of having to put up with paying the huge student loans that is the biggest driving factor to starting a business.
We all know the success stories of college dropouts like Steve Jobs and Bill Gates. And the most relatable success story is Mark Zuckerberg, the CEO of Facebook. So with so many examples, is starting a business the smarter move over getting a degree? Let’s find out.
Money is a big factor when students decide to ditch college in favor of starting a business. We all know that a college education can be very costly. More so, it can put you in so much debt that it would make it impossible to get out of. If students make poor career choices, then the debt can overwhelm them to a point where it feels almost suffocating.
When you make a bad career choice, a change of career is obviously necessary. But the important thing is to prevent the mistake from happening in the first place. And how do you do that? Well, by looking towards entrepreneurship. When it comes to pursuing a college degree and starting a business, you will obviously have to take some sort of loan.
A student loan is necessary to continue education, while a business loan will help start your business. So in both cases, you will end up in debt. The difference is that with a college degree, you are investing in your future. With starting a business, you are investing in a career.
Can you think of a better way to meet people within your industry than to attend expos, seminars, or similar events? How about college events? Has it occurred to you that maybe being in college and pursuing a degree will help you easily connect to like-minded individuals?
There is a real case to be made that college is the best time to launch a business. The reasons for that are many. But some of the most notable ones include access to mentors and college professors who are more than willing to share their knowledge with you.
Another reason is the access to college equipment such as computers and labs. And who could forget that starting a business while in college gives you plenty of room to learn from your mistakes. Not every business will succeed, but being young gives you more time to think about what went wrong and try again.
Life is all about learning and implementing the knowledge into the real world. College is the best place to learn, but there comes a point where you have to implement what you’ve learned. Many say that’s exactly what starting a business does for you.
When starting a business in college, you can take lots of courses and classes that help you do that. Once you feel ready to do it, you will implement everything you’ve learned so far and start a business. On the other hand, getting a college degree instead of ditching it to start a business will prepare you even more.
While you won’t use what you’ve learned until you’re finished, you’ll have a degree to show for it.
Nothing guarantees you’ll find work once you get your college degree. This can be very demoralizing for college students who’ve wasted years of their life obtaining a degree that takes them nowhere in life. This is also precisely why many turn towards entrepreneurship.
Starting a business gives you the opportunity no one else will give you. While doing that is very difficult, it presents such a unique opportunity that many risk everything to try it. It’s safe to say that starting and launching a successful business is far more financially beneficial than working for a similar company.
Not only that, but you’ll be doing something you’ve always wanted. If entrepreneurship is truly your calling, then you’re probably going to invest your time, energy, and money into an idea that you know and are familiar with. After all, no one starts a business that they’re not passionate about.