Finish your studies, graduate at the top of your class, get headhunted by top firms, take the best offer, impress the right people, work your way up the chain, and eventually (years down the line) find yourself in a comfortable managerial position. Isn’t that the standard formula? It’s hard to say it isn’t a viable path in almost every industry — but maybe you want something different.
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Perhaps you’d rather take the bull by the horns and begin your life as a postgraduate by starting your own business. There are reasons to hold back, of course (it’s risky, both financially and personally challenging, and very intimidating when you’re new to the corporate world), but if those don’t discourage you then it’s a fantastic option.
If you’re not sure why, stick around, because we’re going to take a look at five reasons why graduates should consider starting their own businesses. Let’s get to them:
A side hustle can help with student debt
Anyone on the path to graduation might be wondering what they can do with their spare time. Take up another sport? Socialize more? Well, maybe, but they can also put that time towards starting a side hustle. The point of a side hustle business is that it can be run alongside other things (even a full-time career), providing a second revenue stream with minimal effort, and you can start as early as you want. Students who graduate with side hustles already in place can then decide if they want to keep them going as they are or expand them into full businesses.
Life generally gets more complicated over time
Someone who has a great business idea after graduation might decide to put it off for a while, giving them the opportunity to build up some savings and relax a little. That’s fine, but during that time they might add to their schedule with social events, romantic relationships, housing commitments, and professional obligations — and while those things generally enrich life, they also complicate it.
Necessity is the mother of invention
The average graduate doesn’t have much to put into a business: no savings, no established business connections, no wealth of experience to draw from. This might sound bad, but it’s actually a great reason for them to start a business because it pushes them to be creative. Adversity is good for character and it inspires remarkable work. In addition, it’s far tougher to achieve something remarkable with a business when you’ve been around long enough to establish a set way of doing things.
It’s increasingly easy to get started
Starting a business used to be complicated and expensive, making it a very tricky proposition for graduates, but that isn’t the case these days. All a budding entrepreneur needs is an internet connection and a shoestring budget, and they can take advantage of low-cost store builders, free resources on just about every topic out there (including free courses), and helpful communities of fellow entrepreneurs willing to provide assistance.
Taking initiative impresses employers
Graduates who don’t want to run their own businesses in the long term should still think about trying it for a while at least, and that’s because it shows initiative: something that most employers like to see. The kind of person willing to not only come up with their own business idea but also make it a reality (even as a short-lived experiment) is clearly quite capable.
There you have it: five reasons why graduates should consider starting their own businesses. Anyone who’s nearing graduation or in a post-graduation funk ought to give it some serious thought, because it can be a great way to build a full career, pick up some extra income, or even just impress potential employers.