Share this page Twitter RSS Facebook

How to become an entrepreneur when you graduate

Being a young entrepreneur looks like a great life, especially if you are currently in university and living off pot noodles. You make lots of money, have full control over your life and you have your whole life ahead of you. However, it is not an easy thing to start doing. It requires a lot of skill, determination and some luck. Here are some ways to help you become your own boss when you graduate.

Start thinking about it now

Whether you are in Freshers Week or you are nearing the end of your final year, you should make sure that you think about what it is you are going to do to become an entrepreneur when you graduate. Many universities offer safe places to try out ideas and even offer some funding, depending on your course. If you are on a business course, then your university will likely have incubator units which provide resources for student start-ups. This gives you a great opportunity to try out your ideas in a safe place and will give you helpful experience in being an entrepreneur. 

Placements

Being an entrepreneur means that you need experience in the world of business. A work placement is the best way of gaining this experience while still at university. Your course is likely to have connections to relevant businesses and will be able to help get you a placement with one of them. A placement will teach you how that particular business works and how the industry as a whole works. Try getting a placement at a business that operates in the industry that you wish to work in eventually. 

Be smart and watch out for scams

There are lots of platforms and schemes on the internet that will offer you the chance to get rich quick. However, most of them are not what they seem, and you need to be able to spot the frauds. Market and currency trading are something that lots of entrepreneurs like to get into because it offers you the ability to make considerable amounts of money. However, there are several shady brokers that you need to watch out for so you need to make sure that you only work with regulated forex brokers.

Start out simply

If you are struggling to decide what your business is going to be, start by thinking of your greatest passion and then pair it with your most marketable skill. That could be anything. For example, your greatest passion might be technology and your most marketable skill might be writing - your business could therefore be owning a website that provides reviews and previews of hi-tech consumer products.  

Freelance

Freelancing might not always be the best way of making money, but it can teach you some essential skills. You can freelance while you are still at university. It will teach you how to communicate with clients in an effective way that will secure you more work. It could also be useful because it could provide you with contacts for when you start to set up your own business.