In today’s world, business is one of the fastest career building. It is also the most famous income track, especially for a student. Doing business at an early age especially when you are in college could be challenging and tough. However, it also can be such a helper in many aspects such as experience, financial and also education.
Firstly, a student should start a business as it is a great opportunity for a career building. Milton Berle once said, if the opportunity doesnt knock, build a door, this phrase means that if something you need does not come to you, you have to do it by yourself.
The same goes to your life phase, a student could not be expecting that the job opportunity will always be able for them after graduating. Hence, they need to do something for them to have a career and not remain unemployed. Most of a student assumes that experience starts after college.
According to M.A Smith in his article of 5 Tips to Help Students Prepare for Their Careers, reminding students to not procrastinate and start looking for opportunities before graduate. Students should not automatically default to those stereotypical college student or minimum wage jobs. Other than that, by starting a business while in college might be a good plan B for a student. It is not necessarily to be an entrepreneur, but it is an advantage to make money by yourself.
This is because we never know what the future will be.
Instead of waiting for the confirmation email from the companies you applied, a student should prepare themselves a survival kit. By doing business, it can help students not only financially yet as the beginning of a great career path. The most interesting part is, when a student starts doing business at an early age, it can be something to be put in their resume. As we know, business is one of the jobs where people can gain a lot of soft skills such as leading skills and communication skills. These skills that they gained are not only to be written on a piece of resume but can also be as an experience to share during the interview. Most of the companies want the applicant to have at least one year of experience, but they do not provide any opportunity for the applicants to have one. To solve this common problem, students should create their own experience rather than only during the internship. This is also as what has been said in the article of Steimle (2016), 7 Reasons to Start a Business While in College,it is a huge plus to be added on your resume even if the business you are running fails. Employees are seeking a candidate who is proactive, creative and driven which you can get by experience in the business world.
Secondly, students should start a business because from business they will earn side income. As we know, being a student usually means little or no money. But when you are doing a part time job or making business you no longer have to worry about money because you able to afford the basic esssentials. According to Xin Lu (2010), who explain that everyone needs side income. By doing business, students will earn side income. Here I want to describes the benefit of side income for students. First and foremost, student needs side income for paying the tuition fees. As a student, we spend almost RM 2000 for our tuition fee every semester. RM 2000 is not a small amount right? Some pay it using their education loan like PTPTN, some using scholarship and some also using their parents money. Why not students trying doing a business at their college maybe from the business they can earn side income and can start saving for paying the tuition fees. Doing a business actually teach students to be more independent make their own money to cover tuition fees. Students also need side income because not every family are afford. We are born with a different background right?
If you are born to supportive family, middle class parents that worked hard to save for your education you have won the education lottery. However if you dont have anyone to rely on at all, then how you can survive? Taking education loan from PTPTN actually is not enough to cover all the fees. Thats why student should doing business to earn side income so that they can use it for covering their tution fees, and also basic living expenses. Side income also can avoid students taking education loan. With side income we can start making our saving. From that saving we can use for emergency maybe and also for paying tuition fees for the next semester. We dont have to worry about education loan, because we can afford our daily expenses by using side income that we earn from doing business. Students also can buy anything using your own money by using side income. You can start affording little luxuries like going out with friends and treating yourself to something nice. You also can set your paycheque aside and put it towards your tuition fees. Darlena Cunha (2018) said students who doing part time job / business can earn money that can be used for fun or tuition fees while gaining experience in the workplace that will be attractive to future employers after graduation.
Next, student need to do their own business because they are the perfect age to make it some business. Firstly, as a student they can make their friends as their target customer. So, this are their advantages for them to promote and expand their business product. For example, before the products will be launched in market they can take their friends to test it first(Nolan, n.d.). If the products are really good, of course their friends will talked about it especially among students and they will encourage other students to use it. Another way, as we know in university there are a lot of events or festivals that student can joined it. This are the good time for the student to interact another students or people in the university to buy their products and normally, most of the university student have many groups on WhatsApp application. Using this modern technology, they can spread information of their product in the group by group. So, technically people will know their product well and people will buy it by online.
From that it easy for them to make customers from their fellow friends in university especially if the product are very affordable for university student or young generation. Secondly, as a student they have a lot of fresh ideas and they can follow the modernity. As we know our student is among the young generation. As a student of course they get many situation that allowed them in college to have great ideas and abilities growing as an entrepreneurs. For example, they can related that what they learning from their lecture and conclude it as one product or they can build product that will make their generation easier. Fresh idea to set up a business is not necessary for the business or economic student only but it necessary all the students without regard to academic major if they are surely to have an idea to build a product for their business(Staniewski & Szopi?ski, 2015). To follow the modernity, the student can build product according to the trending in market now days. So, it easier for them to create the product because they know the demand from young generation because of they are in the same age category. Thirdly, student they are no time like the present.
Student have more time at their age than they will for the rest of their lives (MITCHELL, 2019). Student they does not have a big responsibilities at their age such as to take of the family members or to pay utilities bill and they just do for their self only. That why they should not to wait for them to start a business at least the small business in college because we are very famous to listen that every business to fail early and often is the point to archive a long term success. From Warren Buffet, he said that someone is sitting in the shade today because someone planted a tree a long time ago. That means as a student they might to start a business from now because one day in the future they will get the successful business even they might be failed now. We can saw the successful businessman or businesswoman in Malaysia nowadays they come from their failure in the past and now we know them as millionaire in Malaysia and another country also might be same. As a student to start a business we can get them as an inspirational for us as a young generation to set up a business even just a small business or we can starts from being a drop ship to learn how to do a real business.
Last but not least, why students should do a business because you can learn to be a good leader. When you do a business automatically you are the boss for yourself and you also are the employee in your business. Indirectly, you are the finance, you will do your own marketing and you also can produce your new product. You also have your own vision to achieve it. So, you will work hard to achieve your vision. According to Andrew Urevig (2014), you can find freedom when you start running business. Meaning of freedom is having more control over the course of your life, having the power to direct it in the ways that you want, rather than working with other people. You owning your own business means you are the boss, you can decide when you work, how you work and what business you want to do. When you become the owner of your business, you can control where your business profits go. It gives you a greater autonomy. Mark J. Kohler (2013), once said he suggest you to do your own logo and website.
You also can brand yourself and themes for your marketing material. You also can develop a full marketing. If you develop a full marketing you will create your concepts of your business, strategies and do detail list of all your ideas about your business. You dont need someone to work with you because you can do your own self. Michael Simmons (2002), said it is yours. You make the rules, you create your own hours, you can work from wherever and who you want to work with. You also can pick what interests a business that is related to you or your interesting in something else. For example, if you like art, you can start with design business. If you like writing, you can write a book and you can publish it. Maybe one day you will be a famous novelist or the best author and nobody know right? If you dont try now you dont know your capability. As we know in this era, resources at your fingertips so many people like to search the internet and you can grab this opportunity and maybe you can start a Web development business.
Next, teach yourself to be more disciplined and build a network. Why I said like that? This is because you will meet a lot of people and you will persuade them to buy your product. You will take responsibility serving your clients and meet them. For example, when you meet your clients, you must be on time and dont make your clients wait for you. From that situation, it will helpful you to be more disciplined to yourself especially about time. For example, you will come to class early and before your lecturer come because you are punctual. According to Elizabeth Koprowski (2015), one of the hardest parts of running a successful business is making contacts and building a network. But, as a student, you will have a ready-made network especially your classmates and your professors. Your parents can lead you and tell about their experience. You also have mentor and mentee. Having mentors and getting to be a mentor have been some of the best experience of your life and it will show how good you will be a leader to others. This is because when you became a successful person you can teach and give some advice to your classmate or other people. Other successful businessman or businesswoman love to give andvice to young businesswoman or businessman who want to start their business. They will make time and they will speak more openly with you than anyone else because they know they are your mentor. They will make you a successful person. Elizabeth Koprowsko (2015), if you base your business around your studies, you will leave university with a well-established network of contacts in your field. It can help you to find a job in the first place.
Conclusion, there are many reasons why students should do a business. This is because doing business when you study is the best way to earn money especially to fulfilling your basic requirements. It will help you to reduce the burden of your parents. From start or do business you will have softskills and you will know how to communicate with other people. As we know doing a business while pursuing a degree is hard work, but the benefits are typically greater than the amount of a paycheck. Students who starting their business during their college careers may develop better time-management skills than their counterparts because they have to apply it to their daily lives. Actually this is the best experiences for students that everyone should try.