Let’s be honest, the thought of graduating and being forced to join the ‘real world’ terrifies you.
You’ve read the countless horror stories about graduate unemployment, so you know that you’re going to be one of thousands applying for the same few jobs.
On top of the competitive, dog-eat-dog recruitment process, you’ve also got to deal with soul-destroying questions about your future plans from well-meaning but misguided family members.
All thing considered, it’s no wonder you’re spending most of your time looking up postgrads, PhDs and second degrees.
But there is another option: instead of joining the endless graduate job hunt, start your own venture.
Launch a startup and you can forge your own career path – and potentially make a ton of money along the way.
Here are some top tips on how to transition from fresh-faced graduate to high-flying entrepreneur as quickly as possible.
#1: Pick a lucrative industry
Begin by concocting an idea to launch your entrepreneurial career on the back of – pick an industry likely to guarantee a profit (the top money-spinning ones this year include health technology, electronic technology and consumer services).
But ideally, go for something that speaks to your interests and degree – having a strong foundation to build from is much easier than going blind into an industry you know nothing about.
#2: Put together a stellar business plan
Before you can get going, you need to put together a comprehensive business plan, including forecasts, budgets and market research. Remember to manage your expectations and start small for sustained growth.
At this stage, also exhaust all opportunities for funding. As a graduate, there are university programs or government loans to help, but also think about using more creative sources like crowdfunding as well – it can be a great way of garnering some publicity.
#3: Set up a killer office
Now you’ve got the behind-the-scenes admin done, you can get started with the fun job of finding a location for your new headquarters – it’ll mostly come down to budget. If money’s tight you can always reduce overhead by setting up a mezzanine office at home and working online to begin with before perhaps later splurging for a co-working space.
Once you’ve got the basics sorted, you’ll need to invest in the right equipment, like computers, printers and even furniture. It’ll probably be one of your biggest and most frightening startup costs, but the initial bill is worth it for creating a killer office to see you through the coming weeks, months and years.
Whether you join the job hunt or launch your own business, graduating is scary. As an entrepreneur, at the very least you’ll be in charge of building your own career – and, even better, you’ll get to keep all the profits yourself! Follow our three steps and you’ll find the whole process much easier.