⚡ Get All Content for 20% Off ⚡

You Don't Have to Pay Your Dues Before You Start a Business Follow the new rules of business to get ahead of the pack.

By Steve Eakin

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Thomas Barwick | Getty Images

My job consists of building cool stuff, helping people build apps and helping startups grow and scale. This means I field a lot of questions and hear a ton of startup ideas.

One day, an impressive young entrepreneur came to me with an interesting idea. It sounded promising, so I thought he should go for it. He did, and found a gaping hole in his local market. As any good entrepreneur would do, he went in full-force to exploit it. The idea was solid, he was able to validate it and went to build.

Related: Avoid These 5 Early Mistakes I Made as an Entrepreneur

But before he got started, he wanted to incorporate. This is a great idea. It helps protect your personal assets if something goes wrong. It can help you with taxes depending on where you are and honestly, it helps make you look professional if you are in the B2B, consulting or services spaces. It's quick and easy, and you can get it done for a small fee in a few dozen places online.

Lucky for this young hustler, he had a family friend who was a lawyer. Time to save some cash and get some expert advice in the process, right? Sadly, that's not what happened. Instead, my young student got an earful of horrible advice that put him down and out. "You're in high school. You're too young for this. Focus on getting into a good college, work hard, get a job, then start this business."

That pissed me off.

The opportunity was right in front of him. There's no law saying a high school student can't start a business and make money. There's no rule that says you can't have an app and get into a good college. The time to do this was now -- when there was a gap in the market, and he was in the best position to fill it.

Related: 8 Tips for Entrepreneurial High School Students Ready to Start Their First Businesses

When I was in high school, I ran a business with one of my buddies selling bootlegged anime. I didn't know that was legally frowned upon at the time, I promise. When I was in college, I started a web development agency and a SaaS company, which I later sold.

I didn't wait to start those companies because someone told me I was young and inexperienced. I didn't put my dreams on pause to get good grades and an entry-level job. I didn't want to wait and pay my dues. I knew I had a skill that others were willing to pay for, and I offered my services to them. Funny thing is, my customers didn't seem to care that I was still a student with no real job experience.

Does that sound like "skipping to the front of the line?" It should, because it is.

There were definitely people doing what I was doing, and doing it better, but I was competing on their level. And I didn't work my way up for 10 years before I started. I built my empire one client at a time. And I'm definitely not alone.

So why do authority figures -- I'm talking parents, legal counsel, etc. -- tell people to pay their dues so they can get a good job before they work on their real dreams? And then, focus on your job and do this entrepreneur thing on the side for a while to test the waters.

Building an app on the side when you have a job is a good idea. It's called a "side hustle" and if you want to do it, do it. It's a great way to transition out of your boring 9-5. And if you don't want to go full time, it's a great way to make some passive income on the side.

But if you're a student, why not start your business right now? You're in the perfect position with limited responsibilities and endless resources -- resources to help you with business or technical challenges and tons of time to get some solid training on the internet.

Related: 9 Million-Dollar Ideas You Can Launch From Your Dorm Room

So why wait to pay your dues before you find your success? Screw the old ways of the business world. Don't wait for the world to give you permission. If you have an idea; if you have a dream; if you have the passion and the drive -- do it.

Let them say "you can't" right up to the day where they ask you "how did you do it?"

Steve Eakin

Founder of Startup Black Belt

Steve Eakin is a speaker, investor, startup advisor and the founder of Startup Black Belt, where he helps tech startups launch, grow and scale.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

The Remote Side Hustle a 43-Year-Old Musician Works on for 1 Hour a Day Earns Nearly $3,000 a Month: 'All From the Comfort of Home'

Sam Ziegler wanted to supplement his income as a professional drummer — then his tech skills and desire to help people came together.

Marketing

Ever Wonder Why Certain Websites Rank Higher Than Yours? This SEO Expert Reveals The Secret to Dominating Search Results

It's often the smart use of SEO, now supercharged with AI, particularly in keyword optimization.

Franchise

The Top Franchise Brands Growing Globally

While our main Fastest-Growing Franchises list focuses on North American growth, more and more brands are looking to grow worldwide. These are the 25 that had the greatest franchise growth outside the U.S. and Canada from July 2022 to July 2023.

Business News

AI Is Impacting Jobs. Here Are the Gigs Affected the Most, According to an Analysis of 5 Million Upwork Postings

The researcher said in the report that freelance jobs were analyzed first because that market will likely see AI's immediate impact.

Leadership

Former Interrogator Shares 5 Behaviors Liars Exhibit and How to Handle Them

Five deceptive behaviors to look for and how to respond to those behaviors when you encounter them.