Why You Should Start a Business
Straight Out of College by João Ferrão dos Santos
In today’s fast-paced world, college grads are turning to Entrepreneurship as a way to follow their passion instead of spamming cover letters to companies they are only half-interested in working for.
When job creation is low and the best jobs are harder and harder to get, here are a few reasons why you should start calling your own career shots and create something from scratch:
You will build a strong network
Don’t get us wrong, starting your own business is hard. Before you even consider taking the plunge, make sure you have a solid support system of family, friends, colleagues, and preferably know other entrepreneurs who have been down the same road before.
On the other hand, the upside potential is huge. As you struggle to achieve each new milestone and overcome every new setback, you will need help. Be smart about your free time and use it efficiently. Go to networking events and introduce yourself to people that could be interested in your business or simply have the know-how to help you tackle a specific challenge your company is facing. As time goes by, you will find yourself surrounded by advisors and partnerships that one day might prove invaluable.
You have the time and energy it takes to succeed
If you ask around, you’ll find that one of the hardest parts of starting up your own business will be (depending on your industry) attracting those very important first clients. Fresh out of college you’re pretty much a blank slate – the world is yours to discover and you have the drive to make things happen. When you have a spouse, kids and three dogs, you’ll look back and think “Where did all my energy go?”. So get out there, use your youth’s time and energy to chase what really matters to you. If starting your own company is your goal, get to it!
Another aspect if you’re in your 20’s that you can leverage upon, especially if you studied outside the US, is your current financial freedom. Without important financial obligations such as hefty house and car payments, you’ll have the availability to work pro bono, which might be key in order to get those first clients we just mentioned. It’ll get your company’s name out there and help you build your initial portfolio.
Multitask: start your business part-time
Don’t fool yourself. A full-time transition into entrepreneurship straight out of the graduation ceremony is tough. There are a lot of online resources that are helpful when it comes to setting up your business, but you’ll most probably find that’s the easy part.
To support their ventures, wise entrepreneurs look for extra financial security by working part-time or freelance while their business isn’t profitable enough to feed more than their dreams. Think strategically and try to work in areas that will provide you with skills that you haven’t built and are relevant to your start-up.
By not going all-in and taking part-time jobs you can gradually build your business while you build your core skills and your savings account. Don’t see a second job as a burden, when the time has come for your venture to become your full-time position you will know it!