How to Be Your Own Boss Right Out of College
The news is all around us: college graduates are graduating with more debt than ever before, and they are finding it nearly impossible to land a job despite their new degrees. In fact, data shows that 13.8% of 18- to 29-year-old Americans are out of work, which is more than double the national jobless rate of 5.4%. One solution is for new college graduates to consider self-employment. Self-employment may be a better option because of the instability of jobs today, the ability to create upward mobility, and the freedom of creating a more flexible lifestyle. If you want to be your own boss right out of college, here are some tips to get you started.
Do Some Soul Searching
Starting your own business and becoming self-employed involves some risk and is not an easy fix for being unemployed upon college graduation. One of the very first things you should do is conduct a personal evaluation and determine your best skills and the industries you know best. Then, think about what you love to do and which businesses and roles will utilize your skills best and have the potential to grow the most without costing too much.
You need to be honest with yourself from the beginning, once you decide to be your own boss right out of college. Can you afford it? Do you have a solid business plan? Do you know how to get financing without jeopardizing your credit or that of your friends and family who graciously offer to invest in your business? [Read more…] about How to Be Your Own Boss Right Out of College