Starting a business can be an adventure, even more so when you have just graduated. After leaving university, for the first time you are exposed to the real world. It’s also the time that you make the moves and take the steps to define the person you are going to be and the career you will have. You might be ready to dive into an office job by being an employee or you might have ideas that could make you your own boss.
You will need to have certain skills such as leadership qualities and you also need to be determined to make your business a success. If you are seriously considering becoming an entrepreneur, here are some of the reasons why starting a business after you graduate is a great idea.
Avoid dealing with unemployment
When you come out of University, it can be really difficult to get an interview for a job, never mind actually securing a job. It seems it’s becoming increasingly difficult for graduates to even get entry-level jobs. When looking for a job, you will be competing with hundreds if not thousands of candidates for one spot. If you consider starting your own business, you can avoid having to deal with the dark cloud of unemployment.
Another benefit of starting your business is that you won’t have to waste time working in low skilled jobs to be able to live comfortably whilst looking for a ‘graduate’ job.
Fail while you are young
Failing is considered as quite a negative thing. However, having opportunities to fail when you are young is possibly the best way to learn. When you are young, fresh out of University, you will likely have only yourself to support. If you are going to fail in setting up and running a business, then this is the prime time to do it. At this stage of your life, you will likely have the least amount of responsibility and the least amount of people relying on you. Therefore, failing on the first try is okay. Learn to accept failure and let it help drive you to do better.
Starting your own business is a great opportunity to gain multiple skills that you wouldn’t be able to pick up from regular jobs. You will need to juggle all business activities, from securing funding, to delivering a pitch or gaining followers on social media. Being a business owner will push you to your limits and force you to learn, from both success and failure.
When you start a business, you will need to network and reach out to people in the same field as you. This is your opportunity to seek mentors and ask advice from the industry’s best. Make sure that you are always learning and progressing in order to grow with your business.
It may be cliché to say, however as you are young you are more likely to have energy. After graduating you will likely not have a spouse or children. You are most independent at this age and have the energy to dedicate to setting up and running a business. Therefore, if you have a good idea and believe you have the right skills to create a successful business, then there is no better time to do so, than now.
Become your own boss
The best perk of starting your own business when you graduate is that you become your own boss, without having managers breathing down your neck. However, it will require a certain skill set in order to ensure that your business is a success. You will need to be self-motivated and will need to be able to pick yourself up if you are knocked down. When you become your own boss, in a sense you are completely independent and the success of your business relies solely on you.