There has been a recent trend for increasing number of small start ups being set up by the fresh college graduates as Graduate entrepreneurship. This has resulted in the opportunity for many students to start their own business and focus on that rather than the low paying fresher’s jobs. There are both benefits and flaws or student entrepreneurships. Many of the world’s greatest organizations today started similarly as the student ventures and have grown today by leaps and bounds due to its management and leadership. There is a lot of attrition among the organization too, for those who want to leave their job and take the entrepreneur route.
The successful ventures started by drop out students or the fresh graduates include (Google and Microsoft). While nobody is unknown of the fact of how Facebook came into existence today. A huge courageous step taken by Mark Zuckerberg forced him to drop out of Harvard to pursue his dream of making what Facebook is today. There are a lot of challenges in Graduate entrepreneurships but one should not be disheartened and keep faith as ultimately there have been many successful organizations that started small. One should learn from the examples of Oracle, Google, Microsoft and Facebook not only how to dedicate everything behind your start-up but also to learn that you must have a great sense of decision taking abilities for your company.
The first thing about a startup is to develop a class concept, something fresh and new in the market which can cause high demand. The better your concept, the better the subsequent stages get for you. Getting a good concept is also essential for attracting finance from the investors as you must be clear in your mind about your business strategy and must be able to project it to the client. After the concept is designed, you must create a process model and a sample for your investors. You can present these in the meetings to the potential parties that come to sponsor your Graduate entrepreneurship and can easily get the money even before leaving the college. Having finance in hand is an added advantage as after the college finishes you don’t have to visit any further financial organizations like banks and credit companies to fund your startup. Moreover the conception stage can be completed even while you are in college.
The last but not the least important factor that can influence your Graduate entrepreneurship is the fact that how much can you deliver in the first 6 months to 1 year of your start up. Don’t try to overgrow yourself thereby raising the expectations from the investors. Instead try to focus on the balance of quantity and quality with projects low in number but higher profit margins. This enables you to cash in on some earnings and then you can invest your money in the organization and become a regular stakeholder. What this does is makes you the master of your Graduate entrepreneurship making you the true owner in fact. After that it is up to you whether you want to keep the investor contract running or fund the organization on your own.
Thus having the right Graduate entrepreneurship plan can go a long way in making your startup a success.