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This Is the Best Time to Start a Business

The day I started university, I felt like I had discovered Narnia.

Eric Chung profile image
by Eric Chung
Asian male in his 30's entering Narnia, snow fall and lion next to him. A group of people standing behind him.
Image credit: Canva

I had finally escaped the custody of my overbearing parents and was living on my own for the very first time.

I was surrounded by people in the same stage of life. We all started our journey together to figure out our paths for the future.

Endless opportunities were right outside our doorstep.

And we partied our butts off. Maybe a little too much, I might add.

Getting wasted every weekend, then hangover brunch at the diner on Sundays.

It quickly became my routine.


Being out in the “real world” was exciting, but I was lost.

I had no idea what I wanted to do with my life.

Classes were kicking my ass.

I failed a few math exams. Nearly failed an entire calculus course.

Slowly, I lost the motivation to continue studying.

I needed to explore my options.

And then I found something that I had never considered before.

A viable career path that was interesting to me and quickly became my “passion”.

I dropped out of my program and started learning everything I could about graphic design.

Within six months, I had scored my first freelance client.

Everything was coming into place. I felt free and in control of my future.

But after delivering the final project, I nearly got scammed.

Young, naive me didn’t know to talk pricing of the project before starting it.

I was lucky to get $100 from the guy.


Lesson learned, but I didn’t stop there.

Outside of freelancing, I had started all kinds of money-making side hustles.

Ridesharing

Students often traveled between our school town and the big city, Toronto. I would drive five to six round trips every weekend, usually with a full car and often meeting the same riders.

Photography

I learned photography and was hired to shoot events around campus. I even sold a photo of the school’s sign to them for their holiday card.

Flipping

Thanks to my photography side hustle, my expertise in DSLR cameras enabled me to buy and sell undervalued cameras around the city.

Hat business

I started a hat business again (the first time was in high school) for a marketing class, which ended up going viral on Snapchat.


Without a doubt, there is no better time in life to start a business than when you’re in school.

School is the safest place you have to experiment with your ideas without much downside risk.

  • You likely have no dependents.
  • You can keep your costs low by splitting rent with a bunch of friends.
  • You can get by living cheaply on instant ramen.

Think about all the things you could potentially benefit from:

✅ Learning about yourself and what you’re interested in

✅ Applying skills in real-life scenarios, like marketing, sales, or negotiation

✅ Turning a part-time side hustle into a full-time business after graduating

✅ Getting a head start on investing for your future

✅ Paying off your student loans early

✅ Saving up for a downpayment


If you’re still in school and want to start a business, why wait?

It can’t hurt to try, especially when the risk is so low.

Create your own opportunities.

Experiment → Fail → Pivot → Fail again.

But learn something each time.

In the end, you might decide that you want to follow the traditional path and get a 9-to-5.

That’s totally fine.

You’ll have a degree, but more importantly, real-life experiences to fall back on. And that will make you stand out to any employer.

As for everyone who didn’t go to school or has long since graduated, it’s not over for you. The risks are just higher now.

Whether starting a business is worth the risk or not, that’s up to you to decide.

Eric Chung profile image
by Eric Chung

Reinvest in yourself

Create the life you want to live.

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