A few weeks ago, I attended a gathering where most of the attendees were graduates. To my surprise, some idle and unemployed people graduated approximately five years ago.
I’m unemployed too and that’s okay.
I understand that finding a job is hard. You get your diploma and quickly become an adult who needs a job. Months go by – much slower than usual – but you can’t land a job.
I also know that it may not be your fault. You’re investing an outstanding level of energy; you’ve submitted several CVs and attended countless interviews in search of a job, yet all your efforts seem futile.
However, as bad as the economy may be, it’s possible that you are your own problem. How? You have consigned “self-employment” to oblivion.
Staying idle when you could be making cash is worrisome. If you have graduated over a year ago and now find yourself jobless and idle, ditch your degree and start a business.
I’m not trying to be mean here. I’m simply informing and reminding you about what works. Starting a business doesn’t mean you should stop searching for that dream job, either.
Start a business…
The fear of the unknown prevents most of us from taking the leap. If that’s your major obstacle, trust me, you’re not alone.
I know the sentence “start a business” sounds like a huge and unachievable goal. Perhaps that sentence struck you so hard, you almost quit reading this piece.
The fact? I’m determined to make a successful businessperson out of one among hundreds of unemployed graduates who read this entire series of articles.
The question is … will it be you?
If yes, take the first step. Believe you don’t need a lot of cash to start a business. Look at starting a business in either (or both) of the following ways:
- Buy low, sell high.
- Render a service with your skill and get paid.
Other stuff involved – like how to manage a business, how to run a business, how to be a great boss, etc. – can come in along the way.
Why you should start a business even if you’ve never been employed
If you’re an unemployed graduate who spends a reasonable amount of time on the internet, you may have read a million reasons why you shouldn’t start a business.
Reasons like you need a lot of capital, businesses are risky, businesses are demanding, you must have work experience … the list goes on and on.
That’s why I’ll start by giving you the reasons why you should start a business now.
1. It enriches your CV
We can’t all become successful businesspeople. I know. Perhaps you have that in mind as you read this.
I understand that you may be a career person. Diversity is a norm in life. However, your CV and experience remain the same if you stay idle.
When I graduated from college, even though I studied engineering, I knew nothing about WordPress, email marketing, social media marketing, and other related stuff.
The tricky thing was that I studied communication engineering. Today, however, I have added these experiences to my CV.
I have become a better writer and reader. In fact, I read now more than I ever did in college.
I also gain more because I’m not memorizing a formula or definition to give back to my lecturer in an exam. I read to learn and understand.
To add more value to yourself and your CV, start a business today.
2. Job security
Realizing that no one can fire you is the best feeling ever. Most workers panic about whether they’ll have their jobs tomorrow.
You only have to worry about whether you’re still in business or not. If you have a job for ten years, then get laid off, you will retain the experience and a few connections.
But if you have a business that didn’t thrive even though you worked day and night for five years, you come down to two options: sell your business or quit.
Whichever you choose, you will retain your connections plus the experience of running, managing, and handling business-related tasks. Most importantly, you will have become an expert in that field.
You tend to lose more when you lose a job than when your business fails to thrive. If you succeed in your business, you’ll be rich. If you fail, you’ll be a guide for others.
3. Time isn’t on your side
Sitting idle at home won’t get you anywhere. Frankly, it’s a waste of time and resources. I feel bad that you sat at home for years doing nothing.
Why on earth should you do that when you can make something out of your time? Some businesses attain success in a year; some went from zero to millions. Sadly, you were idle, for a year or even more.
Hey, I’m not saying you must take a job that isn’t worth your time. I’m saying you must start a business now.
What can you buy and sell? What skill do you have that others need? This should be your concern. If you’re still idle, remember, time is already against you.
4. You have a chance to not live by 30 days one pay
This may sound awkward but 30 days one pay is the worst style of payment ever. Most workers paid on such a basis take loans to meet their needs before they get paid.
A significant percentage of students went to school using huge loans. As pointed out by Market Watch, approximately 70% of American graduates leave school in debt.
To secure a master’s degree, graduates also take on more loans, which pile on top of the previous loans. Time magazine found that about 40% of federal loans go to grads pursuing postgrad and professional degrees.
Frankly, gone are the days when a master’s degree earns you automatic employment.
However, to all these problems there is a possible solution – start a business. In fact, start it now. This will reduce your loan because you have access to cash every day after your business is fully grown.
5. You have a chance to be your own boss
This is the dream of most entrepreneurs. If it is also your dream, you must start a business to achieve it.
The autonomy involved in being your own boss is sometimes beyond my comprehension. If you leave home as early as 5 a.m., you don’t mind because you’re serving yourself.
It feels good to decide when to stand and when to sit. If you cherish this autonomy, start your own business now.
6. You will start becoming independent
Tell me, how does it feel to always have to tell your parents, guardians, or sponsor about every aspect of your life just because you lack funds?
How does it feel to not be able to make your own decisions?
It feels depressing, right?
You have a chance to make it right. Tell them one last time that you need funds to start a business. Secure the funds and spend them correctly.
All things being equal, you won’t have to inform them about your next decision if you don’t want to.
Hey! I’m not saying it will be that easy because it won’t. You must plan, sacrifice, hustle, and scale the hurdles to come out on top.
This is part one. How to choose a business, several profitable business ideas to choose from, how to start, how to maintain a business, and much more are coming up soon.
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If you have any questions for me, the comment section is all yours. Don’t forget to share so you can help another unemployed graduate out there. 😉