From Dell Computers, to Warren Buffet, to Virgins Richard Branson, the history books are littered with successful businesses where the founder was still at school or college.
The greatest challenge when starting your business is the upfront risk. Whether it is your time, your money, borrowed money, the opportunity cost of time to get it going – it is all what we call the risk. This is what puts off 95% of potential business owners. They cannot face – or deal with – the risk. Yet when you are at home or at school, this is probably the easiest time to think about starting your own business. No jokes! And for sure there is probably no school that will advocate this, because the system says continue with your studies: School, college, university, degrees, you name it. Anything, but thinking of starting a business.
At school you have a roof over your head; no major costs to worry about; access to other bright people; access to an incredible network of friends parents all major ingredients when starting out. And, you have time!
You have the freedom to explore – explore what needs are out there. In order for a business to survive, you need to fulfil a need – profitably. Imagine delivering a great meal on a scooter (because you can at 17) to some hungry person. That was the start of Mr Delivery. Imagine offering baby-sitting services on the weekend. Imagine offering a car-wash service, or a pet-grooming facility, or IT skills to old folk who cant use computers the list is endless.
Your risks are low. Start small, and offer a great service. It will all work out and – if nothing else you will have a bit more pocket money if you wish to study further!