Starting a business and being your own boss is a dream career for so many people, but when is the right time to launch a startup? As a recent graduate, you may feel under pressure to apply for roles at established businesses and gain more experience before starting out on your own. However, there are numerous advantages of starting a business straight out of college, such as:
You aren’t fatigued
Launching a business at a relatively young age means you’re full of energy and determined to succeed. Working for years as an employee in a corporate or business environment can leave you feeling jaded and a little cynical, which isn’t a great mindset to be in when you’re starting your own firm. In contrast, new graduates have the energy and excitement to create and develop something new, different, and valuable.
You understand the modern world
Many businesses are still struggling to adapt to modern tech and societal evolutions, which is probably because they’re run by people who grew up in a different era and environment. As a graduate, however, you’re acutely aware of the digital landscape and how it’s evolving. This means you’re perfectly placed to incorporate these advancements into your own business venture and use them to increase your commercial success.
There are budget-friendly options
Some college graduates are put off starting a business because they struggle to get the funding they need. While it’s true that you may not have the credit facilities to borrow large sums, you may not need to. A franchise gives you a great opportunity to trade under an existing name and get the bespoke guidance you need as a new business owner. With a senior placement franchise, for example, you can tap into a growing market and learn how to operate your business successfully. This practical and theoretical advice can substantially improve your operations and give you the edge you need to compete.
You’ll gain experience
Starting a business will give you the chance to gain experience in a variety of different areas. From sales and marketing to business management (and fixing the odd printer!), you’ll need to take on a variety of roles when you’re first starting out. Most entrepreneurs work alone or with a skeleton staff to begin with. Although this means working hard, it does ensure that you benefit from a wide range of experience and develop a varied skill set.
You’re young enough to fail
It’s no secret that running a business can be tough and the majority of new startups fail fairly early on. However, any setbacks you encounter needn’t bring your entrepreneurial career to a standstill. Instead, you’ll have the time, motivation, and energy to refocus and rebuild your brand or to launch subsequent ventures in different markets.
Becoming an Entrepreneur
If the lure of starting your own business is too strong to resist, becoming an entrepreneur could be the perfect choice for you. By using your degree and the knowledge you’ve gained to inform your business decisions, you can even ensure that your academic achievements are integral to your commercial success.