Start a business or find a new entrepreneurship summer program?
Hello, I am a junior who was just accepted into UPenn Wharton's "Essentials of Entrepreneurship" summer program the other day. I was excited until I discovered this program was actually not that selective at all and just a "pay-to-play" experience - costs would probably total close to $7k (tuition + any meals I have to buy myself).
I see two options on how to occupy my summer. The first is I can seek out an alternative, possibly more prestigious /selective but DEFINITELY cheaper entrepreneurship program. This was my original goal, but now I am questioning if it's a good idea because 1.) deadlines for many programs have likely come and gone, and I don't want to scramble to meet one that's due too soon and 2.) I am going on vacation for at least 2 weeks in July, I am otherwise unsure of what's what in the summer, and I want time to visit colleges/work on my apps.
The second option is I forget the program and I start brainstorming, then drafting a business plan to start my own business. I've been meaning to do this for a while. I am thinking of selling some sort of food product, possibly something healthy but taste is the priority. Maybe I could market it to athletes who need an after-school snack, there is heavy involvement in sports at my school. A senior has a small stand once a week where he sells candy/soft pretzels/drinks he buys in bulk, he's also going into entrepreneurship interestingly. I am thinking of trying to get permission to do something similar, perhaps more regularly if I can dedicate more time to it. The downside is it might flop of course, that comes with opening ANY business, so I am in no way guaranteed success. Also, I would definitely have to invest money I would otherwise use for a summer program into it.
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4 answers
Honestly, if I were in your place I would start a small business like buying stuff off the internet and selling it yourself. Doing a food business would be hard at high schools since most high schools have vending machines. Regardless of you starting a business I would also go to an entrepreneurship program even if it is not very prestigious so you can apply the concepts they teach to your business. You need to think about learning more than showing these courses on your resume. You could do an online course on Cappex or by Coursera. A lot of these programs are free or cheap. You don't need to do these businesses to make a million dollars. You're a junior in high school I would recommend doing a business that makes you some quick cash and you have fun doing it while learning. For a business, idea thinks of something if you saw you would buy. Hope this helps!
Link for Coursera: https://www.coursera.org/search?query=entrepreneurship&
I would recommend pursuing a passion project like your small business idea. This would directly prove your interest in entrepreneurship and it would definitely look impressive. Additionally, the stories you would gain from any scenario that happened with your business, whether it be success or failure, would make great material for essays.
This CollegeVine blog post has some tips about starting a business in high school. Hope this helps!
I would say that you should try to start a small business. Even if it never gets off the ground, you would be able to gain some real life experience. Plus, if you become scared to put the business into initiative for whatever reason, you would still have business plans under your belt. Whatever choice you choose good luck!
Starting a business takes time and energy that you don't necessarily have right now since you're already a junior. I suggest going for th internship because that will give you conncetions and has a higher chance of strengthening your extracurriculars if you get in. Not to mention, you got into a pretty solid program so I suggest you take advantage of it.
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It's not an internship, I'm talking about a summer program from entrepreneurship. I feel like finding an internship and working for someone seems kind of contradictory, the point should be I'm either learning to be a better leader/entrepreneur in a program or I'm immersing myself directly into the experience by opening my own business. If I could get any recommendations for such a program, though, I could absolutely apply.