From a New Grad to an Entrepreneur: Starting a Business Right after College

It seems that, throughout our childhoods, but also later in life, we are in constant state of waiting for something larger to happen. Namely, we are waiting to enroll in high school while still kids, then we are waiting to start college. However, once in college, we are waiting to step into the larger world, find a job and start earning some money. This is perhaps the most important step, as it will define your career. If you’re lucky enough, you will find a job the minute you step out of the college. But what if not? What if you have bigger ideas, and want to become an entrepreneur of your own? This is never a problem, but you need to pay attention to certain things. Take a look and see if this is the path that you really need:

What’s your passion

First of all, it’s very important to find your passion. Perhaps you studied something that you really don’t want to make a profession out of, but on the other hand, maybe it’s precisely that job that you want to do. Be that as it may, it’s crucial to have your passions sorted out and have a clear image of what your enterprise will be about. As an entrepreneur, it’s essential to do a job that brings you joy and fulfillment. This means that you will always have the motivation needed to get through both good and bad times that are unfortunately inevitable.

Do research beforehand

It would be a great idea to do a bit of research about your business while still in the dorm room. You can never research enough, so make sure to start immediately. Take the time to thoroughly study and investigate all the important elements of your business – what you need in order to establish it, what’s the market like, who will be your potential clients. This is the only way in which you will start your business immediately once you leave college, and knowing things in advance can definitely be your advantage.

Think of other possibilities

In case you realize you might need some extra time in order to thoroughly research everything, it would be a good idea to think of other possibilities that will both bring you some extra cash that you will invest in your new business, and give you the proper tools and knowledge that you will need in the future. Opting for low cost franchise opportunities might be an excellent idea, as you will get the idea of what it’s like to be an entrepreneur and work for yourself, while still having somebody (in this case a company) you can turn to if needed. Not only can this become a full-time profession of yours in the future (especially if you like that certain franchise), but it’s also a great lesson for all entrepreneurs.

Find mentors

This might be a bit challenging to do while still in college, but you can try and find as any experienced and trusted advisors as you can. They can offer you guidance and support, and most importantly, teach you and help you navigate your business. These people could be either your professors, or even members of your family or friends who are successful entrepreneurs. If you can’t find a mentor in your own field, never mind. You want somebody to teach you about the business aspect of any job, tell you what to do in order not to fail and how to organize your tasks in the future.

Always be online

It’s a good thing that we live in this day and age when technology is such an important part of our lives, not only the business aspect of it. It will be so much easier for you to always be online, as you already know how to navigate the internet and how to use it properly. Make sure to know everything about marketing as well, since this is one of the most important ways in which you will attract your own customers. Talk to your designer friends, try to think of a logo, brainstorm ideas – this is always good to do in advance as it’s always better to be safe. Also, make sure to get in touch with important contacts.

Don’t be afraid to fail

You’re young, so if you fail at first, it’s not a big problem. You still have plenty of time to make your business flourish in the future. It’s also quite normal for somebody to fail in order to learn certain lessons that will help them become even stronger and more successful in the future. About 50% of new businesses fail in their first year, and this is a very good thing to know. Failing is simply a part of the process.

So, yes, it’s possible to become an entrepreneur the minute you leave college. It will require your devotion and hard work, but everything is possible. And if you fail – so what? You’re still very young and you can try once again. Good luck!