Advantages And Disadvantages Of Becoming An Entrepreneur After Graduating College

Young entrepreneur working in a cafe (soft focus). Photo courtesy of Shutterstock.

Being an entrepreneur is definitely something that a lot of people aspire to due to the fact that it is a great way to live life. People get in charge of their own lives so it is definitely a great feeling. We do have various advantages of becoming an entrepreneur but it is important to also realize that there are disadvantages. It is vital that we think about both.

Advantages Of Becoming An Entrepreneur

For starters, you are your own boss, which is definitely great. The earning potential is definitely higher and we need to realize the fact that more can be earned through owning a business than through being an employee.

We should also realize that the entrepreneur can become successful faster and he/she gets to hire people instead of being hired. For a college graduate it is definitely interesting to be the boss. It is an experience that is quite different than what happened in college. Going through something new is definitely attractive and this can be invigorating. Also, a lot of people love working a lot, which is necessary as an entrepreneur.

Disadvantages Of Becoming An Entrepreneur

The college graduate naturally does not know much about running a company. Even if the degree is similar to running a business, practice is usually quite different than theory. You cannot trust the rules included in books like The Seven Spiritual Laws Of Success without first having enough time to understand what happens on the long run.

It is very important for the entrepreneur to gain manager traits and that is tough until you actually go through a company. There is a reason why the most successful people in the world started from the bottom. Going through a ladder is vital in running a very successful business. However, some entrepreneurs naturally manage things properly and have an attention to detail that counts.

Conclusions

No matter what you may be tempted to believe, in most cases it is not a good idea to become an entrepreneur after graduating college. This is mainly because of the fact that you need some extra knowledge. However, there are many situations in which people were highly successful.

The truth is that everything varies from one case to the next. It is important to be honest with yourself. Also, what you did in college will have an impact on your possibility of running a successful business.

We should also mention that a lot of help can be obtained through partners or through various projects that the student may have went through. For instance, some simulations are sometimes carried out. They will highlight if good skills exist and if the college student would be successful as an entrepreneur.

Recommendations

You should read everything that you find online from general sites like Inspired Spot to specialized entrepreneur blogs. At the same time, if you never managed to actually manage something successfully till now, there is a chance problems will exist when you run your company. It is possible to be successful but only if you have a lot of knowledge about what it takes to be a successful entrepreneur.

Author Bio:

Boris Dzhingarov graduated the University of National and World Economy with major marketing. He is passionate about blogging. His favourite book is The Seven Spiritual Laws Of Success.