Well, guess what? It was one of my biggest mistakes. I should have just jumped right in and got at it. As a result of my inaction I wasted a lot of time because the majority (90%) of the research I did was never used. It meant absolutely NOTHING. Experience is the best learning tool you could ever have. That is why I constantly tell entrepreneurs to dive in head first and learn to swim.

Failure

People get immobilized when they think about failing. Some people cannot face failure head on, but successful entrepreneur’s can! Failing is a part of life. It’s a huge part of finding out what works and what does not work. That is why I tell entrepreneurs to fail as fast as possible so they can find out what is working. The more times you fail the faster you find out what works!

Change

There are few absolute guarantees in life and change is one of them. Many wannabe entrepreneurs fear change. Charles G. Koch, the founder of the worlds largest private company, Koch Industries, has continuously embraced change. He has learned to adapt his strategies to embrace change and lead his company to greatness. We encourage you to read more about Koch’s Market Based Management philosophy. He has also published a book about MBM which is a great read!

Economic Uncertainty

You probably think that right now is a bad time to be thinking about starting your own business. Don’t worry, many people feel this way. However, a poor economy creates several opportunity’s for entrepreneurs. In fact a lot of successful companies started and grew significantly during a recession or depression.

One of my favorite examples of this is Jim Koch, not to be confused with Charles Koch of Koch Industries. Jim Koch is the founder of Samuel Adams beer and the Boston Beer Company. He began his journey during the 1980’s recession, which just so happened to be perfect timing. There used to be 1,000’s of brewery’s in the United States but when the recession hit a lot of them flopped. Mr. Koch saw an opportunity and went for it. The recession was a perfect time to enter the marketplace.

Now, think about what business’s were in abundance before the recession and have rapidly declined because of the recession. The biggest one that comes to mind is banks. What else can you think of?

Your Business Will Consume Your Life

You want to start a business but you also want to have time to spend with your family and friends. Many people think that starting a business will disable them from having a social life. Well, this is preventable. Don’t let your business run you. You need to run your business!

The bet example I can provide is from Timothy Ferriss book The 4-Hour Work Week which is basically about increasing your efficiency as much as possible and then outsourcing the rest of the work. The principles apply to every type of business and the extent to which they can be applied varies across business’s. However, you will find it extremely useful.

Fear of Being Your Own Boss

When first starting out it can feel like you are wasting your time or that what you are doing is really not that important. It feels like you are running a lemonade stand on the corner of the busiest street in your town, no one is stopping in  and everyone is laughing at you. It can really be discouraging.

Furthermore, starting a company is not exactly going to provide you with a sense of security or stability. This is often really hard for people to deal with. I know it was for me as well. That is why it is important to set goals. Set goals that can be done in a short time period to give you confidence in yourself and in your new business venture. The absolute key to overcoming this fear is setting goals!

It’s important to take a step back from your studies and really think about your life. What is really important to you? Of course school is very important to you right? Otherwise you would not be there; simple opportunity cost. However, keeping your life in perspective will help you with school in the long run.

Enjoy Your Life

College is as much about academics as it is about finding yourself. This is really the time when people break away from their family. They have an opportunity to grow and find out what they really want out of life. College is a great way to really find yourself. So, enjoy your life! Go out with friends, hang out with your family, go to a party and have some fun! Explore what it is that makes you, well, you.

Experience Is Most Important

It’s one thing to sit in class all day long and listen to a lecture but applying it is most important. A lot of classes do not offer this type of learning. So, do it on your own!

College really has a lot to offer. Think about what kinds of things you have learned so far during your journey. What do you think you will remember the most from your college days? A lecture? Absolutely not. You will remember your experiences in the classroom, outside of the classroom and with your friends. College is more about experience then it is about academics. It’s a unique kind of learning.

Cross Disciplinary Academics

I personally went to a Liberal Arts College so I could get a lot more knowledge across many different subjects. I felt it was important to my college experience and to my professional life after college. I was 100% right. While I will never use a lot of what I learned I did learn some great critical thinking skills, how to question authority, how to sift through the BS, and so much more.

There is a lot more to college than grades. If you are learning stuff and only getting a C in class, that’s okay. What’s the point of getting an A in class and learning nothing? Remember, at the end of your journey college is what you make it. Your college career will be much more fun, enjoyable, and lucrative if you remember to not continuously wrap yourself up in everything. Take some time to be yourself and have some fun!