Some say that college is the best time to create your own startup. Think about it: you are full of enthusiasm, you know what is trending right now, and you have a bunch of friends with the same views. But not everything with student startups is as positive as it seems.
Did you know that around 90% of all new companies fail in the first several years? There is no definite key to success. You can have a lot of determination and even funding, but you still might fail. Besides, you have to come up with a really great concept that will stand out from millions of other ideas.
Don’t get discouraged, though! There are a lot of pros to starting your own young company as well. Many students think: who would do my homework for me if I create a startup? Well, there are plenty of services that can help you with your assignments if you decide to follow your dreams.
And, if you are still not sure about creating a startup, do your research to know all pros and cons. Now, let’s take a closer look at six reasons not to give a shot at coming up with your own company.
No Job Security
Perhaps, this is one of the biggest disadvantages of creating a startup. You invest your valuable time that could be spent on studying. You also try to make the best with the limited money that you have as a student. Unfortunately, your job stability in the future is not a guarantee in this case.
Some would say that it is much better to spend this time working as an intern, feeding squirrels in your backyard, or finishing your degree. You can secure a job after graduation, support yourself financially or attract investors, and then create a company that will have a chance of surviving out there.
No Financial Benefits at First
Usually, students don’t have a lot of money. College tuition is expensive, and you need some money for food and clothes. There is also a high probability that you’ll need to order academic help services like https://essayservice.com/buy-case-study to free more time. Newly created startups don’t have the financial resources to pay their workers for the first year or even longer. Can you really work and not get paid for it for a whole year?
Not Enough People and Resources
The stories of all great startups begin in a small garage or in a dorm room. This is true for almost all new companies that don’t have investors. Be ready that you will have to scrap for funding and for people who are not ready to work for free when they are still in college.
Not enough people mean more jobs for you! Imagine coming back from your classes, having to complete your homework assignments or delegate them to a paperwritingservice, and then beginning to develop your passion project. When will you have time to sleep? Long hours are a synonym for a startup, as the founders have to keep in mind the curriculums of all employees, especially students.
Long hours also mean that you have a lot of stuff to do around the office. Startups are not only a group of like-minded people who decided to create something together. You need to have a business plan to attract investors. You also have a lot of responsibility to people who are in the same boat as you. Apart from all this, actual work needs to be done. For free, of course.
Too Much Freedom and Not Enough Structure
Usually, those companies that are founded by students are famous for their lack of structure. Young people want innovation, so they try to move away from the traditional business models. Do you want to ride a Segway through the halls? Sure! Or maybe you want to bring three dogs to work with you? or you might want to add more shelves in your bedroom. Why not!
As fun as it sounds, this does not encourage a healthy business environment for a successful company. Too much freedom can be a bad thing, both in the business world and in your studies. You need structure to get results, especially among young people who just want to be (or to seem) successful.
To Sum Up
As it was mentioned earlier, around 90% of startups fail. Also, only half of all new companies make it past five years and begin turning a profit. If you have doubts that you will be in the 10% that become the real thing, maybe creating your own company is not for you. And that’s totally fine!
A student’s mind is different. Everything seems easy, the world is your oyster, and so on. But you have to think about the reality of starting a company in college. It is much better to get a degree, have some experience working as an intern, and then diving headfirst into the business world.