A career in business can be exciting and rewarding, and many recent graduates are looking forward to putting their Master of Business Administration (MBA) degrees to good use. One of the best ways to use your degree in the face of a tough economy is to start a business. People who have recently graduated from business school are prime candidates for starting a small business as they frequently possess qualities such as high motivation and a fresh perspective. The following are seven of the most professionally rewarding benefits of starting a business.
Use Your Degree
If you are working toward a degree a Master of Business Administration or have recently graduated, it is likely your thoughts are frequently consumed with how and where you will use your diploma. Today’s college graduates are finding it increasingly difficult to land jobs relevant to their degrees. A study revealed in 2010, a meager 27 percent of college graduates in the United States found professions related to their majors and only 62 percent were working at jobs that even required a college degree. By starting a business, you can reap the rewards of the time and money spent on your college degree. Many college students do this by using degrees with concentrations in music or art to start businesses like art studios to online music stores.
Recent graduates also face the daunting task of applying for jobs in a struggling economy and a job market that is often reluctant to hire those new to the workforce. Adding to the frustration, many job vacancies that are advertised as entry-level frequently call for five or more years of experience. Not only will starting a business allow you to take charge of the situation by employing yourself, it will also give you the opportunity to gain the experience so many employers want. College graduates who are struggling to find employment are turning to these kinds of entrepreneurial pursuits, finding success and ultimately taking control of their professional lives.
Be Your Own Boss
Flexible hours and the freedom to make your own rules are among the chief motivators for starting a business. The ability to lead yourself by being your own boss is especially appealing to recent college graduates. People fresh out of college tend to be highly motivated and equipped with knowledge of the latest advancements in technology. It can be difficult for recent graduates to mesh with bosses who do not have this perspective, and the enthusiasm that comes with pursuing your first job lends itself to the leadership needed be your own boss.
Pursue Your Passion
College graduates face the challenge of transitioning from college into the “real world” without losing their newfound passion and idealism. Students who will soon graduate are told that before long, they will have to shift their focus from passion to practicality. When you start your own business, these two concepts work in unison; you can make the successful transition from student to professional without losing the drive and optimism cultivated during your college years.
With the increasing cost of tuition and high interest rates of student loans, starting your own business right out of college may seem risky. Through careful planning, however, you can set yourself up for success as the owner of a profitable business. If you are part of the percentage of recent grads stuck in a 9-to-5 job because you simply need money, consider testing the waters through social media entrepreneurship. According to Forbes, the recent shift toward online business startups makes it possible to begin a side career as your own boss while keeping the financial stability of your current job. Today’s business market is increasingly conducive to the needs of recent graduates, and following these business models will allow you to jumpstart a profitable business.
Choose Your Coworkers
Recent graduates are all too familiar with the challenges of putting together successful school projects with group members who are not as motivated. This is an obstacle that does not disappear upon entering the workforce. By starting your own business, though, you can collaborate with likeminded individuals who share your drive and long-term goals.
Make a Positive Difference
Business and social change may not seem to go hand in hand, but there are many ways you can use your business to give back to the community. Even as a brand-new business owner, you can make a positive impact on the word around you. For example, running an eco-friendly business is a financially rewarding way to protect the earth. Once you have established a profitable business, you can team up with charities and contribute a portion of your profits to those in need.
The financial, personal and social benefits of starting a business are endless. Now is the time for recent graduates to take control of their business careers and experience the advantages that come with owning a business.
Image by David Castillo Dominici from freedigitalphotos.net
About the Author: Kelly Young is a contributing writer and small-business owner.