Pro and Cons of Being an Entrepreneur in High School

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Being an entrepreneur in high school or even college has its pros and cons. Based on my experience as well as on feedback, I’d like to share with you what I think are the upsides and downsides.

Pros:

• You could become a millionaire before the age of 18 like Cameron Johnson, Ashley Qualls, Fraser Doherty and many more.
• By the time you’re an adult you may have already branded your name and become famous.
• The lessons learned are priceless: responsibility, initiative, networking, communication and financial skills.
• When you’re young you are adventurous and more willing to take risk. After all you have nothing to lose. Like my Grandma always says, “What’s the worst that could happen?”
• You may never have to work for someone your whole life, something that many people dream of all their lives.
• If you’re a natural, passionate entrepreneur and starting businesses is what satisfies you, nothing could suit you more.
• Your potential success will boost your self esteem drastically, which could help you throughout your life.
• It could boost your chances of getting into a great college. Colleges often seek kids who have learned how to take initiative, one example of an entrepreneurial skill.

Cons:

• It takes time away from studying and homework. It’s important to remember that your education matters even if you plan on making your first million before graduating high school.
• It also may take a portion of your time away from having fun and doing other activities like going out with friends. Which in turn could lead to you losing some friends because you can’t spend enough time with them to maintain your friendship.
• If you fail, you may lose all the money you had put aside for it. However, when you’re young it’s worth taking those risks because you have less to worry about.
• It’s hard to deal with adults as an adolescent because adults tend to trust kids less.

All high school entrepreneurs out there if you are interested in more resources check these sites out: Young Entrepreneur, NFTE, and Entrepreneurship Resources.

Any other pros and cons you could share?