If you are not the offspring of a millionaire, meager budget is a part of your student life. You have a choice to lead frugal existence or take a risk and start a business. If you win, you’ll get what others can only dream of. The most notable millennial entrepreneurs, including Mark Zuckerberg and Evan Spiegel launched their projects as college students.

With the rise of social media over the past few decades, there are numerous ways to build a startup. While surviving a full course load, the lack of experience and initial capital are the primary challenges. Concurrently, college campuses offer particular benefits for beginning a new venture.

Student entrepreneurs

1. You take advantage of opportunities and don’t waste time

It’s a common misconception that you should work hard to graduate college, then work even harder to secure a great job and finally enjoy your life. Why wait until graduation? Get ahead of your peers!

Buried in books, you may think that you have little or no opportunities. Take your time to define the goals. Then move to the research stage. The deeper you study the issue, the more opportunities become apparent.

The answer may be simpler than you think. Consider what you are good at. Designing an app, starting a personal training program or organizing tours with local guides can be a good option. If you are whizz at academic papers, launch a blog with how-to writing guides for all types of essays like EssayService blog. Take chances whenever possible! May your fear of wasting precious time and great opportunities motivate you to go forward.

2. You are surrounded by like-minded ingenious people

The like-minded collaborations are both inspiring and future-oriented. College entrepreneurs can promote each other and share their best practices. Such communication pushes you to constant self-development.

The connections established in college are instrumental both in your campus life and post-graduation. Future entrepreneurs are in college now. You may find a co-founder of your startup among the peers. Students can become your customers or give feedback to your product or service.

3. Labs and campus resources are available

College is a perfect environment for you to start a business. You have a whole bunch of resources. Writing an app? A computer lab is at your service. Are you on your way to a scientific breakthrough? Stop by the chemistry lab. Have you already made an invention? Your school will help you file a patent.

Whenever you stumble upon a problem while working in the lab, our educators will give you expert advice. Remember, you won’t have free assistance after graduation! Use it when you have it.

Discussing startup ideas

4. You can allow failing

College is about creating experiences. This is the best time to start a business and experiment with challenging ideas. The risk is low, and the reward is high. You have nothing to lose. In the worst case, you will switch to working on another project.

You can try one startup a year. This time is enough to understand whether it’s worth working on. Maybe your first attempt will pan out. Or you will get a foothold. It might appear uninspiring and you will switch to another venture. Test your ideas today! Don’t wait until they become out-of-date.

Even if you fail, list it on your resume. An experience of managing your business shows proactivity, creativity and commitment. It helps to gain leadership skills that are vital to success.

5. You gain financial freedom

Young people see college as the pathway to greater income and opportunities. Unfortunately, many of them get buried under student’s loan debt. Starting your business gives a chance to minimize it. If your startup is successful, you’ll get some extra cash.

Having managed to become financially independent as a student, you will have sound financial future.

6. It’s the right time to look for your place in the world and be selfish

Learners are always busy. Some say they don’t have time for anything except studying. Attending classes, essay writing, reading assignments and tedious academic routine… Though you have obligations as a student, you are responsible only for yourself. You can be selfish and afford bigger risks.

There is no excuse for not trying to launch a small business at college! The chances are that perfect time will never come.

7. You practice what you are studying

Students often gaze at PowerPoint slides without thinking and seldom read off the educational resource. Apply the knowledge you are gaining at college – you’ll kill two birds with one brick!

The startup is a bridge between learning and practice. “There is no better way to accelerate your growth than to build a company,”- says student entrepreneur Jordan Gonen. “It is a hundred times harder than anything that happens in a classroom, but also a hundred times more valuable than any textbook lesson.”

Startup mentoring in college

8. You can get help for free

As a student, you can get access to anyone. For example, you contact a CEO assistant and say: “I’m a college student launching a business. I’m looking for a piece of advice.” A successful entrepreneur is more likely to share tips with a startuper then with another prosperous businessman.

Discover your college networks with local businesses and famous alumni. Some institutions have business related organizations and even entrepreneurship clubs.

Schools often offer grants and scholarships for students who want to test their projects. Take part in every competition available!

9. You test your capabilities

Starting a business is a great way to discover your abilities. Success or failure shouldn’t turn your head or make you sink into despair! It helps to find out your strengths and weaknesses.

Consider the skills you already have. If you are good at writing academic papers, try your hand in freelancing or blogging. With time, you can start your custom writing service business.

The time you spend starting your business is beneficial. It will help to decide on a future career or another project to launch. It is safer to test your commercial skills while you are still in college. You have a fertile ground to germinate and grow as an entrepreneur.

10. You leave legacy and make the family proud of you

Fame and money are not the final goals. Creating heritage that stands for something is strong motivation either.

Imagine your family thinking of you with gratitude and pride. Your hard work will be valued by close people whose opinion is most important. It will pay dividends for new generations to come.

The world’s most successful startups were formed in college. Facebook, Yahoo, Google, Microsoft, you get the picture! It may be a result of some of the reasons I’ve listed. Far not all student-founded businesses reach fame. But you don’t have to be the next Bill Gates. It may be a rewarding experience you’ll always be grateful for. You never know how far you can go.

About the Author: Michelle Brooks is the contributor and editor at the EssayService blog. Her expertise includes general education, entrepreneurship and lifestyle.