Building A Customer Base
College Graduates Want To Start Businessesbut Are They Ready
Its officially summer. Caps have been tossed in the air, hands shaken and diplomas grabbed, and now thousands of recent college graduates are ready to realize their dreams. For many, those include dreams of starting their own businesses.
A whopping 61 percent of recent college graduates want to start their own businesses, according to The CT Corporation survey. Forty-five percent think its very likely they will do so, and 20 percent have already started a business of their own while in college. Even the 30 percent of recent grads who admit its highly unlikely theyd ever start a business say they would like to.
However, those dreams may be about to get a dash of reality. Fewer than half of those who want to start their own businesses believe its really feasible. And 67 percent of recent college grads admit they dont fully understand the tasks that are critical to starting a business. For example, two-thirds dont understand whats involved in incorporating their business, 59 percent dont know how to market a business or prepare a business plan, 54 percent dont know how to obtain a domain name for their business website and 45 percent dont even know how to come up with an original name for their businesses.
Clearly, having a great idea for starting a business isnt enough. Theres a skills gap and a confidence gap that could keep the next generation of entrepreneurs from bringing their dreams of business ownership to life.
What Do You Like To Do
The very first thing is figuring out what you like to do that other people might pay you for. For example, you could:
- Make and sell jewelry
- Do yard work
That idea is the beginning of your own businesses!
The most important part of all of this is that you enjoy the activity. If you try one job out and don’t like it after the first few gigs, think about it some more and choose something that might work better. Ask an adult to help you brainstorm activities that use your passions passions, talents, and strengths for your business!
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Students Provide Dedicated And Inexpensive Labor
The college landscape is one big learning environment, one where you share countless hours of classes with the same people. As you near graduation, you and your fellow students will begin to think more about your careers, and chances are, some will be unable to get theirs up to speed.
So what happens is that many talented students are happy to take on work for little investment because they want to pad their resume. It’s the reason why many students jockey for internships: experience. And if you have a startup in need of talent, your next employee or co-founder just might be one of your classmates.
Moreover, your friends will know how to work with you as a team , and could be your most loyal and hardworking people.
Other Dog Training Certifications To Consider
There are many other dog training certifications out there to help you stand out from the crowd.
While its generally best to start with one of the five groups above, you can pursue many others, including:
Your certification and education level will dictate what sort of cases youre equipped to take on and how much you should charge for them.
Its irresponsible to start charging $100 per hour to work on separation anxiety cases when youre not experienced enough, and its downright dangerous to do the equivalent with aggression.
While its possible to start teaching basic manners or puppy classes without expensive certifications, a professional membership will help you learn and grow regardless of your goals.
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Get A Tax File Number
Youll need a tax file number to do business. You can apply for a TFN at any age, but if you are:
- 12 years old or younger, your parent or guardian must sign on your behalf
- between 13 and 15 years old, either you or your parent/guardian can sign the form
- 16 years old or older, you must sign the form yourself
Learn how to register for a TFN.
The Planning: From Start To Finish
- Do not put your entire marketing budget in the grand opening. This is just one day, and it will be impossible to reach enough potential business to fill your hotel in the long run. View marketing as a constant long term effort instead.
- Final finetuning and testing for the staff and systems before official openingGreat opportunity to take press and industry bloggers on a tour of the hotel without the burden of operational pressure of a full hotel. Reporters really appreciate all the help you can give them with preparing a story on this new hotspot in town.Invite corporate decision makers to test the hotel. Treat them like VIPs. Wine and dine them, and turn them into ambassadors of your business. Impressing them with an unforgettable experience will start spreading word-of-mouth for you.
Open for sales on your own website and OTAs etc.
- Prior to this it is possible to have staff taking inquiry and answering questions with scheduled callbacks at a later stage once everything is organized. However, from 3 months prior to the opening the reservations call center needs to be up and running.
- MS, Web Booking Engine, CRS, GDS, Channel Manager, Rate Shopper, CRM. These all need to be selected, purchased and installed between 6 to 3 months prior to the opening.
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Dog Training Certifications: Do I Need Them
Dog training is an entirely unregulated field many states have no laws preventing animal abusers from owning dog training businesses. You dont actually need any kind of certification to become a dog trainer, andhis creates a serious credibility problem in the industry.
I firmly believe that seeking credentials is one of the best ways to foster trust in the dog training industry.
What Kind Of Services Should I Offer
Most lawn care businesses have approximately 25 customers they see each week and offers services like these:
- Adding mulch
And of course, these old standbys:
- Fertilizer application
As you can see, theres plenty of landscaping services you can offer. Just remember to always provide an superior customer service experience for everyone you do business with.
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How Many Years Does It Take To Go To College
How many years college takes is dependent on what your intended profession is. An undergraduate degree has typically taken four years to complete, though some are turning into five year programs, such as engineering at some schools. A lot of careers only require this degree. If you need a masters degree thats typically two more years, though
Can You Run A Business Without Going To Business School
Entrepreneurship drives our economy. In the United States, the rate of people starting new businesses has been trending upward for 19 years, according to the latest Global Entrepreneurship Monitor report. The U.S. Small Business Administration says 33.7 million small businesses in the United States accounted for 99.9% of businesses in 2020.
Many people think about running their own business at some point in their lives. But when youve already graduated and have joined the workforce, the desire to start your own business can be held back by the idea of having to go get another degree. In this article, well cover whether or not you need a business degree to start your own business, and how to succeed as an entrepreneur without going to business school.
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Keep Track Of Your Finances
Tax and National Insurance are both collected as part of your self-assessment tax return, which is completed in April.
You’ll pay Class 2 NI if your annual profits are £6,475 or more, and Class 4 NI if your annual profits are above £9,501. If you’re an employer you must also pay Class 1 NI, which is collected through the Pay-as-you-Earn system. Limited companies must also pay corporation tax.
If you’re still employed elsewhere on a part-time basis, you can find out how you’ll be taxed by visiting Brighton Accountants.
Given the complexity of the tax system, documenting any money that enters or leaves your business is extremely important. You should therefore keep an accurate record of any:
- bank statements
- VAT amount, if applicable
- your company name, address and contact information.
All taxes and NI must be paid, even if you make a loss. However, tax relief is available by setting the loss against any one of:
- other income from the same or previous year
- profit in subsequent years
- profit in the previous three years.
Opening a business bank account is advisable, as it allows you to separate your business and personal finances. Many banks offer two years’ free banking, so shop around. More financially complex organisations should also consider hiring an accountant.
Your Complete Pros And Cons List To Starting A Business After College
With continued uncertainty in the job market and an economy in the doldrums, starting a business after college is an option that graduates are increasingly considering. In fact, around 60% of recent graduates say they would like to start their own business.
However, with college debt at an all-time high and graduates concerned about lack of experience and networks, the start-up rate for this group is much lower at 23%, according to research.
There is no such thing as a career for life anymore.
60% of graduates are unable to find work in their field and there are over 70 graduates applying for each graduate position in conformity with the statistics from
However, one way of gaining skills and experience without having to rely on getting a job in an increasingly competitive labor market is to start-up your own business.
And is starting your business straight out of college a good idea anyway or is it more sensible to get some experience in a real job first? Lets go through some of the pros and cons below, but, before we do, you should take a few minutes to watch this 7-minute Ted Talk by Jan Bednar on what college students need to know before starting a business. Its particularly insightful, and is a good precursor to what Ive written below:
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Why Wait To Graduate
If youre reading this while youre still in college and already have a burning desire to start a business before you leave, the good news is that you dont need to wait until after graduation to start up.
The entrepreneurial world is full of examples of people who started their businesses while they were still in school from Bill Gates to Mark Zuckerberg and everyone in between.
Research by the Young Entrepreneur Council and Buzz Marketing found that of 1,000 college students, 36% were side-preneurs they were already running their own side hustle while still in college.
Starting a small business while in college to earn an extra income comes with a unique set of benefits over getting bar work or working in a store to pay your way through college.
Running a small business or freelancing involves marketing, building and growing a business, and running the finances and cash flow to keep a business going.
You could earn income through a side hustle to gain the necessary business skills that youll need in the longer term. For example, by building a business from a hobby, perhaps making jewelry and selling it on Etsy by becoming a tutor and promoting your services around town by setting yourself up as a dog walker or by offering freelance writing services.
All of these might not be the business that you want in the long run, but they will help you to learn about promotion, marketing yourself, and how to tailor a business to meet market demands.
Find Out More About The Entrepreneurship Specialization Program
While business school can help you develop the skill sets youll use as an entrepreneur, a business degree is not needed in order to start a business. Wharton Onlines Entrepreneurship Specialization Certificate program can equip you with the real-world knowledge needed to become a successful entrepreneur. Our program is offered 100% online and is run by senior Wharton professors with experience leading innovation efforts in various fields. To learn more, request more information today.
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The Hotel Dream Where It All Starts
Particularly if you have never worked in the international hotel industry, you will be faced with many things you might have not considered or imagined before. The hotel business is highly competitive and achieving good financial results is not as easy as it seems.
In my experience at Xotels in dealing with entrepreneurs and investors, I have found that there is no shortage of creative ideas for innovative hotel concepts. The challenge, however, lies more in the strategic and organizational areas of the business.
Where to get started with opening your own hotel? What kind of hotel should it be? How does location influence my business? How to attract guests? How to control operational costs and run a profitable business? These are all crucial questions that should be dealt with prior to getting into the business.
In this article we have put together a series of tips on how to start your own hotel business:
- First Things First Key Considerations Before Starting a Hotel
Advantages To Starting A Daycare
Starting your own daycare business can be advantageous on multiple levels. For one, youll have the personal satisfaction of starting your own care center from scratch. Then, theres the joy of spending time with children and learning life-changing lessons along the way.
If youre still on the fence about starting your own daycare, consider these likely advantages:
These are just a few of the many advantages of starting your own daycare center. Now lets address some common questions you may have about being a daycare business owner.
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Why Start A Daycare
Opening a daycare can be intimidating, but it can also be incredibly rewarding. While there is no blueprint for success, many child care business owners find joy in the journey. So whether its your passion for kids or desire to serve parents in your community, there are many valid reasons to open a daycare.
Whats important is that you also need to consider your own unique reasons for wanting to open a daycare, as these reasons will then motivate you to follow through on your dream. Even though you will face obstacles along the way, the payoff of opening a daycare is certainly worth the struggles.
Can You Start A Daycare From Home
Yes, starting a care center from your home is an option and may even be the more affordable option. This is because there are different options at the local, state and federal level that provide grants and funding to in-home daycare centers.
If you already have the space to run a child care business out of your home, its worth looking into Small Business Administration loans to help you fund your endeavor. Remember, at the end of the day, you may be eligible for tax cuts and other benefits.
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The Competition And Perceived Value
Your potential clients are most likely doing research and theyre considering your competitors, too. Consciously or not, they gather data about what they think services like yours should cost and what theyre willing to pay.
That means you need to be aware of what your competitors are charging, too.
You might feel that your services are worth more or that you want to charge new clients less than your competitors. And thats okay.
But, if youre entirely unaware of what your competitors charge, you may miss the mark completely either costing you profit if you charge too little or sales if you charge too much.
Perceived value is the amount that a customer thinks a service is worth. And, your competitors prices are a part of that perception. But, not the whole picture.
Your time has value, and you need to make a living wage. But your clients and potential clients wont care about that. They will care about the tangible results that your services deliver for their business. The more they stand to gain, the higher the perceived value.
Your branding can influence how your consulting services are perceived, as well.
A classy logo and high-end brand positioning will lead to a higher perceived value than discount brand positioning. Clients, especially new clients, may be willing to pay more if they trust your consulting brand more.
So, remember to consider your brand and your competitors pricing when creating your pricing strategy.