Why College is the Perfect Time to Start a Startup
College is one of the best times to start your startup journey, as you enjoy all the benefits without bearing some of the worst consequences.
🍽️ Table of Content:
🤠 How I Started Building Startups In College
🎣 The Time To Try Different Things
🎰 Low Stake, Low Expectation
🧑💻 Remote Working
🤝 Networking
📆 Time Management
☀️ Positive Environment
🙌 People Love Helping Out Young People
🤠 How I Started Building Startups In College
One of the most memorable achievements I look back on when facing obstacles was the exit of my first successful startup, Gumdrop.ai, during my junior year of college. I was a student at the University of San Francisco’s Business School, studying Entrepreneurship and Innovation during the COVID-19 pandemic. Two years prior to that, my first arrival to the university, I remember arriving on campus days late, having just flown back from China and missing the orientation. My freshman year was characterized by chaos and confusion.
The biggest confusion of all was how to get an internship or a job. Honestly, I was just trying to earn minimum wage working at a boba shop or something similar to support myself through college. At the time, San Francisco's $16 minimum wage was very decent for a high school kid from SoCal. However, I wasn't allowed to work anywhere off-campus because I was an international student with an F1 Visa. I applied for almost every on-campus job I could find, but I barely got any interviews because I didn't know you needed to use Facebook to network with current students who held those jobs. I was following the blueprint the professors gave us—networking hard to get an internship. I eventually got an offer, but the company withdrew it at the last minute.
As I struggled to find a minimum wage job and an internship as a freshman, I decided to enjoy the social life in San Francisco. I met an MBA student at the university library who later hired me at his startup and introduced me to the startup lifestyle. He handed me a flyer for his party, with a discount code on the back. He said, "Come to my Halloween party, bro. Bring your friends. If you bring three, I’ll give you a ticket for free.” I had nothing to do, so I got four other people to go to the party and got the free entry. At that party, I realized this was like a business he was running. I didn’t know you could make a business out of partying. The next day, we met at the library again, and I was so fascinated that he hired me to help him throw more parties to make money. But if I were able to find the minimal wage boba job before that, I wouldn’t have worked for him.
Before my freshman year ended, COVID-19 hit. The party business in San Francisco came to a halt. I decided to start my own venture with a churchmate who had experience building software for startups. We created many interesting projects, but none of them gained significant traction. However, one project after another, we stumbled upon the idea of connecting people online for offline hangouts, which became Gumdrop. Thanks to COVID-19, I was allowed to attend my sophomore year and the first half of my junior year online. I moved to Austin, Texas, where Gumdrop really took off. I remember flying between San Francisco and Austin on the weekends for business, thinking I had the most fun job in the world.
As I look back on those college days, I realize that college was the perfect time to start building startups. I want to share some of my experiences here in the hope that they can benefit future or current college students who are also looking to build startups.
🎣 The Time To Try Different Things
Most high school students don't have a clear understanding of what different career fields are like after graduating. College is the last stop before entering the job market for the majority of students. That's why it's the perfect time to explore what you think you might be interested in. Often, what you imagine a career or job to be is not what it actually is.
Many people jump into careers they thought they would like, only to find out it's not what they expected. You can't really understand a career by just listening to people talk about it or doing online research. College is the time to try out different things by doing them. If you want to build tech startups, join a startup and gain firsthand experience. If you want to work at an accounting firm, try to get an internship at one of the Big Four. If you want to be a military officer, there's ROTC. If you want to be a professor, become a research assistant. This is the time to explore different paths and understand the pros and cons of various careers and jobs.
Everyone will highlight the pros, but not many will tell you the cons. Often, we naturally focus on the pros and overlook the cons. You can never truly understand something unless you experience it firsthand. I wish someone could prove me wrong.
🎰 Low Stake, Low Expectation
The stakes and expectations are low in college. Current college students might disagree, but the consequences of failure after college are far worse. In college, the expectation is to graduate with a good GPA and secure a decent job, which isn't hard if you’re not in a demanding field like STEM. Even many STEM students manage to achieve this while succeeding in other endeavors. If your business idea doesn't make money in college, you can walk away claiming that you learned a lot. If your business idea doesn't work after college, you will have to find a job, which can take months.
We all will fail a lot, but I found my failures in college were much more bearable than they are today. People tend to forgive you more when you're in college, and this is also better for your mental health. Startups are stressful.
🧑💻 Remote Working
With the rise of remote work and digital collaboration tools, building a startup has become even more accessible. You can easily collaborate with team members from different parts of the world, access a global talent pool, and utilize various online resources to grow your business.
I won’t talk more here but you can read my Remote Management Guide Book 101 and How To Run Agile Team Sprints 101👇
🤝 Networking
It's easy to network when you attend a college in a good location or with good funding. Being in or near a major city opens up numerous opportunities to connect with industry professionals and other entrepreneurs. Platforms like Meetup or Eventbrite are excellent for finding industry events, and your school’s newsletter can also be a valuable resource. With student status, you can often get discounts on various conferences, and some universities will even pay for your tickets.
For example, when I was at USF, they provided me with tickets to conferences in San Francisco, such as HyperGrowth. These events were invaluable for making connections and learning from industry leaders. Similarly, when I attended SXSW in Austin, I met students from UT and even some who had flown in from the East Coast to attend these conferences. This willingness to travel and seek out opportunities can lead you to people who can show you "the way" and provide guidance and support.
Networking is crucial, not just for gaining contacts, but for learning about the industry, finding mentors, and discovering opportunities you might not have known existed. Attending these events allowed me to meet a wide range of people, from fellow students to seasoned professionals, all of whom had valuable insights and advice to share. These connections often lead to collaborations, job offers, and even lifelong friendships.
If I did one thing well, it was networking. I made a point to introduce myself to new people, follow up with them after events, and stay engaged with my network. I leveraged social media platforms like LinkedIn to maintain these connections and share my own progress and achievements. This proactive approach to networking not only helped me grow my startup but also provided a support system that encouraged and motivated me.
Networking is a skill that requires practice and dedication, but it pays off immensely. The relationships you build in college can open doors to internships, job opportunities, partnerships, and more. So, take advantage of your time in college to network as much as possible. Attend events, join organizations, reach out to people, and don't be afraid to step out of your comfort zone. The connections you make today could be the key to your success tomorrow.
📆 Time Management
Doing college work and a startup is very doable. You can even add a part-time job into the mix. I was doing full-time school, running a full-time startup, and still had a bit of a social life. At one point, I also had an on-campus job. I was traveling between SF and Austin. It’s all possible. The trick is to use calendar apps to plan your schedule and keep it flexible.
I would always tackle all my school work on Tuesdays and Wednesdays since Thursdays were my due days. On these two days, I focused solely on school assignments, maybe dedicating 1-2 hours to the startup. I had classes four days a week, but outside of Tuesday and Wednesday, I would only attend class and do no homework at all. Honestly, I didn’t stress much about my grades. I didn’t mind getting Ds, even though I still graduated with a 3.7/4.0 GPA.
Getting good grades is straightforward: 1. Listen well in class, 2. Do your homework and turn it in super early, and 3. Use AI to help you. I never reviewed for any test and was never punished for late work. (Handing in late work is like doing 110% of the work for 70% of the grade in most cases). I didn’t even have ChatGPT in my days. It’s certainly possible to get a 3.8+ GPA while building a startup on the side. You just have to manage your time well.
Plus, you will always be juggling different things after college as well. You need to get used to it. This juggling act is not going away. You get more distractions after college than you did in college.
☀️ Positive Environment
One thing I miss about college is that everything and everyone is so hopeful. Colleges sell hope, sometimes even unrealistic hopes. It's a business, so they ensure the customer experience is good. As students, we are the customers, but once you graduate, you will be tasked with providing good customer experiences rather than enjoying them.
It's a very positive feeling when everyone around you is encouraging you to achieve greater things. This is not guaranteed in most workplaces. You will find that many things and people can bring you negativity as motives become more complicated. Make sure you take advantage of the positive environment because you might not have it after college.
🙌 People Love Helping Out Young People
People love helping out young people. I guess I'm not old enough to fully understand why, but I can tell you from my experience that people are eager to assist young individuals who show passion and drive. There's something about youthful enthusiasm that attracts mentors and experienced professionals willing to offer guidance, advice, and support.
At some point, you will no longer be the youngest person on the block. Once you get over 22 years old, people start to expect you to know how things work. The advantage of being perceived as someone who is still learning and growing diminishes. This transition is inevitable, but while you are still in college, you have a unique privilege. People are more willing to forgive your mistakes, offer you opportunities, and invest in your potential.
If you are still in college, utilize this privilege as much as you can to propel your career forward before you lose it. Seek out mentors, ask questions, and take advantage of every learning opportunity that comes your way.
Remember, the eagerness to help doesn’t last forever. As you grow older, the expectations increase, and the leniency diminishes. So, take full advantage of this period in your life. Be proactive, be curious, and show your passion.
Conclusion
Reflecting on my journey, it's clear that college is an ideal time to embark on your startup adventure. The environment offers numerous advantages: the freedom to experiment, a lower risk of failure, and a network of supportive peers and mentors. By taking full advantage of these opportunities, you can gain invaluable experience, build meaningful connections, and lay a solid foundation for your future career. Whether you're exploring different career paths, leveraging your student status for networking, or managing your time effectively, remember that the unique support you receive as a student won't last forever. Be proactive, seize every opportunity, and let your passion drive you forward. The lessons and connections you make now will be the bedrock of your future successes.
Good Luck Out There!