Should You Take a Gap Year to Build Your Business?

Taking a year off from school to work on your business can be a smart move for young entrepreneurs. It lets you put all your time and energy into your business without worrying about school. But, missing out on school experiences and possibly falling behind are real concerns. 

In this article, we’ll look at the pros and cons of taking a gap year, what you can do during that time, and help you figure out if it’s the right choice for you.

Pros and Cons of Taking a Gap Year

Taking a year off school gives you a chance to fully focus on building your dream business. You could make big progress! Here are some pros:

• Time to Plan and Improve: You can put all your energy into planning and perfecting your business ideas.
• Freedom to Try New Things: This year lets you experiment and find out what works without school taking up your time.
• Real-World Learning: Hands-on experience can teach you more than what you’d learn in a classroom.
• Build Important Skills: You’ll practice skills like problem-solving, leadership, and negotiation.

You’ll want to consider a few challenges, including:

• Money Challenges: Running a business without steady income can be tough and even lonely at times.
• Falling Behind in School: Taking time off can make you feel like you’ll be behind if you decide to go back to school later.
• Need a Backup Plan: If things don’t go as planned with the business, it’s smart to have another option ready.

Making the Most of Limited Resources

If you choose to take a gap year, there are lots of ways to handle any challenges that come up. First, check out free online learning sites like Coursera. These can help you learn important skills like marketing and product development, even if you don’t have much money to spend. 

Social media is another big tool; by building an audience on TikTok or Instagram, you can grow your business without paying for ads. 

Focus on finding ways to make money during this time. You could try crowdfunding or take on freelance jobs to earn right away. Working part-time is also a good idea to bring in extra cash to support your business and cover expenses.

Setting Yourself Up for Success

Taking a gap year can be exciting, not stressful. Here’s how to get the best out of it:

• Set Clear Goals: Have clear, realistic goals and split big projects into smaller, doable tasks. For example, in the next 3 months, you could set a goal to set up a website, grow your social media following by 500 followers, and make your first 10 sales.
• Make a Plan: Create a plan for each part of your business, like marketing or improving your product or service. Use tools like Google Calendar or Notion to organize tasks and keep track of your progress.
• Stay Motivated: Working on your own can be hard. Stay connected by talking to friends, sharing challenges with trusted adults, or joining online groups that keep you motivated.
• Build Self-Discipline: Set a daily routine—wake up at the same time each day and set non-business goals, like fitness or learning something new. Celebrate small wins to avoid burnout and stay focused.

Is a Gap Year the Right Path for You?

If you’re unsure about a gap year, here’s what to think about. Start by looking at your goals. Is your business idea something you’re really excited about? Do you have the focus and commitment for a full year of hard work?

Then, think about your finances. If you don’t have much saved, are you willing to support yourself with a part-time job or side gigs? Do you have your family’s support for this choice?

It’s also an excellent idea to talk to teachers or other entrepreneurs who’ve taken a similar path. Their advice can help you decide. And finally, think about timing. Will this year off really help your business grow, or would it be better to wait and plan more?

Remember, you can always take a course, apply to college, or change your path later—taking a gap year doesn’t limit your future options.

The Bottom Line

Taking a gap year to work on your business can be a big, life-changing choice. It gives you time to grow, learn, and go after your goals. While there might be some challenges, careful planning and staying motivated can help you make it worth it. In the end, it comes down to what will help you reach your dreams.

Are you a high school entrepreneur? You could qualify for the Kantner Foundation scholarship! Click here to find out more.