University or start with business
Should I go to university? Or go into business?
I know what you are all thinking, why has this person put this in the forums section on careers advice rather than as an article, if he can’t work that out what university will take him.
Well I have a few answers firstly I have got a place at Durham university to read business and marketing; secondly I will be listing the pros and cons to help other people make their choice so it will be an article to help people, not a plea for help.
I have always been entrepreneurial and was very sceptical about university and a lot of teachers did say why not starting a business instead of university, but at the time this annoyed me because I thought it wasn’t possible, well I do think a little differently now, read on to see why.
Going to university now is a much bigger commitment now then it was a few years ago, it now costs £9,000 a year compared to £3,000 a year just a few years ago, that’s £27,000 for your average university length course in tuition fees alone. If you want to go into business but maybe think you will do it after university is that really a good idea?
The advantages of going to university before going into business are -
• You don’t have to get a temporary job which are hard to find and demoralising.
• You can set up a business whilst at uni.
• You will be more mature and experienced so probably be able to set up a better business.
• You will find tons of contacts at uni.
The advantages of missing out university and starting a business straight away
• No tuition fee loan so you can get a bank loan more easily plus you can save money quickly by not moving out.
• Being an entrepreneur is something you can’t learn so gong to uni won’t help you.
• Doing a demoralising job will increase your motivation
• You don’t need a degree to work for yourself, so you will be wasting three years.
As you see there are arguments both sides. I think you can be a successful entrepreneur both ways; one way will suit one person more than someone else and vice versa but there are general rules.
If you have a startup idea or an idea for a business that makes money then I am tempted to say miss university out. That’s obviously if the business project is achievable, for example if you have an idea for a new soft drink but no money then go to university and find some contacts because with no money or contacts you wont be able to achieve you goal.
Another factor is simply how good the university you are going to? If you need less than BBB then I would go into business straight away because its probably just a uni that people go to just to get drunk and the teaching standards will be poor. Whereas a good university i.e Durham will actually prepare you for work and teach you vital lessons you need when becoming self employed.
How mentally strong are you? If the answer is not very you will struggle not going to uni. Say your first business project doesn’t come off, your friends are in their last year at uni and about to graduate and you have taken a temporary job at McDonalds, well you will be feeling very low (that putting it politely). A lot of people would get very stressed by this, and if you think you would then I would go to uni because a lot of startup ideas fail.
Your history is also important, how many of your businesses have made money in the past? If you have a good track record then you will probably be a success right away and you can forget university but if you have never run a business what makes you think you will be able to when you finish 6th form or college?
Overall if you are unsure I would recommend a gap year, not a gap yah, just a good old fashioned gap year, work part time and spend the other time trying out you startup ideas.
This is my first article constructive feedback plssss.
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