A fresh graduate from college has a big way ahead. There are two options at his hand ‘to work for someone or to be on his own’. Real thinking needs to be done to choose one option or the other. Those who like to play safe would most probably choose to work while some with risking inclination would go for entrepreneurial way and start their own business.
There could be many reasons for the young to start on their own, but surely there will be an inspiration for their goal. The inspiration could be Bill Gates, Anji Reddy, Brian Wong, Ms.Carol Tice, JRD Tata, Dheerubhai Ambani and the list is not limited to these only.
What you need to start on your own?
If you want to start a small business on your own, you need to make a business plan, make some finance related decisions, fulfill local govt. requirements, marketing your product and finally delivering the product pleasing your customers.
What ever the ideas you have may be, put all of them on a paper and analyse them carefully till you get a feasible business idea. Then devise a plan based on the idea to make is sustainable in terms of time and money. you got a basic business plan for the kick start.
Raising start-up capital is becoming relatively easier due to the large number of venture capitalists surging apart from recent aggressive banking. If you got a feasible business plan, it’s no difficult to obtain a bank loan. As you make trails for the loan, you also need to take care of local govt. requirements for your proposed business.
The execution of the business plan is utmost important than establishing the business. For this one needs to concentrate a lot on the product marketing. You should have a executable marketing strategy for your product which results in attracting and keeping your customers. The more satisfied your customers are, the more profitable your business would be.
Never mind you just graduated from the college, gear up for the growth and success race by becoming yourself a model entrepreneur.