How to Start a Company While Still in School

I started my first company in 1996 while attending McGill University. It was between my 3rd and 4th years. I completed my degree and graduated, but work was a heck of a lot more fun. Plus, I never picked up my diploma…

Earlier today I spoke at Startup Square’s inaugural event. What’s great about Startup Square is that it’s a collaboration of students from different universities and schools in Montreal. If the administrators at these places won’t get together and help create an entrepreneurial culture, then the students will take the reigns. And that’s exactly how it should be. Inasmuch as it would be wonderful to see a complete bridge between entrepreneurs – schools – students, we may have to skip the middleman.

My presentation was entitled, “How to be an Entrepreneur While Still in School”. It was really a glorified trip down memory lane, covering some of the bumpy, funny and successful moments in my entrepreneurial career. Hopefully the students found it worthwhile. Without a doubt there are many smarter and more creative folks out there, and I’m hunting for them. But the truth is that smarts and creativity only get you so far, being opportunistic on the other hand…

I’ve included my presentation below, but most of it won’t make a lot of sense out of context. However, I did want to discuss 3 key points about how students can be entrepreneurs while still in school (or immediately after graduating):

Be open

Take risks

Be strategic

It’s really as simple as that. Everything I’ve done (successfully and unsuccessfully) has been a result of combining those three elements.

You have to be open to opportunity, recognize it and go for it when it comes. You have to be willing to take risks and realize that they’re not that risky after all. And you have to be strategic about what you do and how you go about it. You’re not out there in the world shooting a machine gun with your eyes blindfolded. You’ve got a precision laser assault rifle (or some such nasty weapon of choice) and your eyes are very much open.

Be open. Take risks. Be strategic.

How to be an Entrepreneur While Still in School

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images in the presentation provided by Shutterstock

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April 13, 2010 Posted in Entrepreneurship by Ben Yoskovitz

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Thanks a lot for providing such a nice information with us
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Omg what is that face XD
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Waw! this is very useful article…
I'm a student my self and I must say you opend my eys.
Mor
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I would like to add to your list a #4 – network with the right people. Just like in the real business world, you should know people and these people should know what your startup has to offer. They may not be able to provide assistance to you directly but they can be your partners when they provide you with leads or when they endorse you via word-of-mouth marketing.
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Thanks for the info. I think it would be great to start a business while in school but many people don't have the resources to that while paying for school and other things.
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this article just perfectly talked about my plans in a couple of days from now. I hope I get my business rising to the top.
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I would also suggest 4. Start Early.

There's no reason not to start learning and failing as soon as possible. The younger you are, the less you have holding you back in the form of family, wife/husband, kids, and debt. And even more importantly, the more situations, experiences and opportunities you force on yourself at a young age, the more effective you will be in building your startup, or moving on to a new challenge with more refined skills, knowledge and ability.
timtasker

Great presentation, thanks for sharing your story! I think that you´re right when you say “skip the middleman”. Entrepreneurship is something that has to be motivated between students. From your points I get “be strategic”. I think that is a smart way to plan your future and avoid getting crazy with every opportunity that knocks to your door. Focus is essential!
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I did it too! It's a great way to pay for college and you'll learn more from your business then you will from college.
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thanks a lot for your valuable sharing ,right from the beginning till end it was really very informative .i can witness the experience and steps you have taken to accomplish this wonderful work.
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This was a great and inspiring post. Sometimes I read posts like these and think, “I've known this all along” but it really takes reading about it (over and over again sometimes) to be reminded of the critical, yet simple, steps.

Thanks.
http://www.instigatorblog.com Benjamin Yoskovitz

Jennifer – Networking with the right people is absolutely essential. It's about being open and opportunistic.
Pingback: Startup Founders Need to be Opportunistic More than Smart to Succeed
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I agree with Jennifer Smith that network is very important thing, you can have head, have good minds, but if you dont have good acquaintance, you barely dont have chance to climb at the top of mountain.
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there are lots of smart people around the world but if they are not going to create their own opportunity they will not find it. if they are look for it, it will take them a lot of earth years before they can find it.
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This is great information. I only wish we had something like this available during the time I was at university. During college time, I had no awareness of an entreprenuerial desire. Would have loved to have this years earlier!
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I'm an old man now, but I was young once and in school. I started my first business while in grade school. I made a little money and learned a lot. Every student should consider starting their own business and following your advice.
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Randy – You're only as old as you feel, right?
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Whoa, this is great. I just found your blog, and it's got a lot of useful tips. I'm a 24 year old student just getting started in business. Hopefully your blog will help me find my way.
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I have already done this a few times already. Now turning into a serial entrepreneur and cant seem to stop! Great article. Ii am starting my own blog helping up-coming kids in my neighbourhood to start something. This will be good to poit to.
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Awesome!
Im 22 Years old, And I've Started my Business Since i Am 18!
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Be open to new ideas, take calculative risk as compared to blind risk and have a strategy in place to execute ideas.

Ashok
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Great article. I should have read this while I was in college.

Ben Yoskovitz

I'm VP Product at GoInstant.

I'm also a Founding Partner at Year One Labs, an early stage accelerator in Montreal. Previously I founded Standout Jobs (and sold it). MY BIO >>

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