Monday I was invited to participate on a career panel for Stanford’s Technology Entrepreneurship course.  The panel was primarily Q&A, and just like most other groups of speakers, we were asked “What are three things you wish you would have known as a junior or senior in college?”

The question is cliché, but for good reason.  I’ve learned a lot from such questions, and I thought I’d relay my answer here.

The most valuable tools you have are your status as a student (or other newbie) and your willingness to buy coffee.

While the importance of networking is almost always stressed as a path to success, many people find themselves too busy to set up coffee with an interesting TA or too intimidated to approach a successful professor or venture investor.

Meeting people to become your mentors, investors, and inspiration is incredibly important.  Meet people and begin to form relationships before you need it.  We’ve all seen the guy that walks up to an investor, says hi, and launches into his elevator pitch without any trust or context in the relationship.  Don’t let that be you.  Form meaningful, genuine relationships now and avoid desperate business card exchanges later.

Too busy?  Almost anyone can find enough to do to be “busy”.  Always give up a few questions on a problem set or a perfectly clean apartment for the chance to meet someone new and interesting.

Take the time now; a $3 coffee just might turn out to be your best investment.

Watch next week for “What I wish I would have known… (2 of 3)