Student Entrepreneurship Should be Encouraged

Interesting piece from BYU in Hawaii on why we should be encouraging student e'ship:

The time in life lived as a university student is awkward and unstable; people who will go on to lead very normal and responsible lives temporarily lose their minds. Ever-changing majors, couples, and Seasider menus are proving that apparently experimentation is the thing to do and “being young” is the perfect fallback when things go wrong. Most amazingly it is OK to fail and try something else, a lesson that is quickly lost upon graduation. So, sounds to me like the perfect opportunity to start a business!

Why Students Make Great Entrepreneurs:

1. Abstract Thinking: In many academic programs students spend a fair amount of time thinking about abstract concepts. The innovative gears are greased and ready to create fresh business ideas!

2. Higher Risk Tolerance: It’s helpful to recognize that when you’re a student your opportunity cost is likely lower than most other points in your career. When you’re sitting there in class and an idea comes to you, it doesn’t really cost all that much to give things a try.

3. Starry-Eyed Optimism: Let’s face it; starting a company takes a fair amount of optimism. As a student you have minimal resources, and the odds are severely stacked against you. You also, conveniently, have nothing to lose.

4. Trusted Peer Network: You have the opportunity to meet and work with a lot of different people in and out of the classroom. If you do it right, these friends and acquaintances will be mentors, clients, and even potential business partners. Yes, you read correctly. You can surf and socialize your way to success.

5. Applied Learning: As a student, you’re quite often “drinking from a fire hose” and bringing all sorts of new information into your brain. Some of which sticks and some of which, in reality, does not. Starting a business while you’re a student provides a practical outlet for your learning. You can internalize and externalize the classroom ideas in tandem.