For many ambitious business students, the idea of starting a business right after graduation is very appealing. Perks such as flexible hours, the opportunity to pursue a passion, and of course, the ultimate reward of becoming your own boss, all sound great — maybe too great.
Fortune Magazine columnist, Anne Fisher, has talked to a number of business owners to shed light on common misconceptions that people — especially recent grads — may have about starting a business.
The reality echoed from professionals across varied industries is starting a business is not about convenience but about passion. It’s not about working less or having others work for you but about working more and often doing it alone — at least in the infancy of a startup. And, statistically speaking, knowing that only a half of new businesses survive four of five years after inception.
However, despite the necessary reality check, for some, the odds are only a number to beat. And the business world is seldom short of those examples, from Facebook CEO, Mark Zuckerberg to Apple legend, Steve Jobs.
So if you are a business student at Assumption, eager to put your business degree and entrepreneurial drive up to the challenge, there are a few things you should know.
The Worcester Business Resource Alliance (WBRA) is a great local resource offering valuable information through trainings, events, funding opportunities and more. The WBRA resources webpage offers a range of planning materials such as a Business Start-Up Guide or sample marketing plans.
Also, administrative aspects of running a business cannot be neglected. To that end, WBRA provides documents and information on local, state and federal taxes, licensing/permitting information, and links to resources and documents required for registering your business.
Finally, as many entrepreneurs would agree, the value of having a network of fellow business owners who can act as your informal advisory board is indispensible. Young entrepreneurs can take advantage of WBRA active calendar of events that provides the platform and opportunity to network and meet other entrepreneurs.