If you have that entrepreneurial hunger and have an idea in mind, then starting a business after college or freelancing can be your go-to option. You can also join your family business – it may be service, trading, taking up a new distribution, or anything, the idea is to learn how to run a business and help it grow.
To know about the pros and cons of starting a business after college, read till the end.
REASONS TO TAKE UP ENTREPRENEURSHIP
- BYOB – Be Your Own Boss
No one to tell you what to do and how to do. Even if you get into a family business, you would still be your own boss in a way.
- Unlimited growth and variety
You can start your business in any field you like and in any sector you want to. If you are starting or joining someone, the possibility of growth and variety is always endless.
- Keep everything you earn
When you do a business, your revenue depends upon your efforts. Everything you earn is yours, you do not have a fixed salary. So the better you perform, the more you shall earn.
REASONS TO AVOID ENTREPRENEURSHIP
- Finance risks
Business comes with capital and huge financial risks. There are various businesses which you can start with almost no cost, however that also would come with opportunity costs. They say the higher the risk the higher possibility of profit. Are you ready to take that risk?
Some of you may have a family business and for them the finance may not be a criteria. However, in such case there is always the opportunity cost and the fact that financially you would have to depend on the family business is another criteria for evaluation
- No experience:
You are fresh out of your college and if you think doing business is like that product launch competition or like that best manager competition in college that you won, you are absolutely wrong. Doing business in today’s environment means cut-throat competition, client needs and demands, the quality of goods and services and the most important factor, getting customers. All these won’t come easy and would be a tedious task to climb up
OUR INSIGHTS
Be ready to face unprecedented challenges and always be on your toes to change the way you are doing whatever you are doing.
Ups & Downs of starting a business after college will give your life meaning and reason to look forward. However, if you do not have the passion within, it’s best you take up anything else unless your figure out something that you can risk away everything for (read it again it will make a lot of sense).
Other options after College:
- Job
- Practical Oriented Course
- Diploma
- Post Graduation
- Professional Courses
- Internship
To know pros and cons of each option, click on the respective choice.
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