I have always suggested that everyone have at least a small, part-time venture as a means of acquiring business and essential life experience. In fact, I have written about this in detail in the past.
Invest little cash or credit. if any, and avoid expensive franchises or any form of franchise. The venture is primarily for an education. Not a risk-imposing proposition that will adversely alter your career path. The idea is to help you gain experience you won’t get from other sources.
Secondarily, this experience can produce income, perhaps even a business career. But the primary idea is to learn facts about business, economics and finance that is impossible to get in high school or college, or for that matter, a graduate business course.
You will learn basics about accounting, strategy and administration. You certainly won’t get similar practical knowledge from demagogic politicians teaching class envy for votes, their idea of “social justice.” (See the Earl J Weinreb NewsHole® comments.)
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