By Jacob Maslow — Branded Content
Have you ever wondered what kinds of businesses you could start immediately after getting a college diploma? It’s always been true that new grads tend to work for companies to gain experience in the business world, especially if they hold degrees in subjects like liberal arts and education. However, anyone with a business, engineering, science or math diploma can dive straight into the entrepreneurial world.
What are the options, and how difficult is it to gain a foothold in each niche? In addition to e-commerce ventures of all kinds, newly minted graduates start transport operations, financial services, advertising agencies, hedge funds and tax preparation services. Each field has its challenges and rewards. Here are more details about each one.
E-Commerce Merchant Stores
All you need is a computer and an idea to open an e-commerce company. The most successful entrepreneurs in this segment include resellers of high-end, high-tech devices like computers, industrial machinery and large consumer appliances. The beauty of starting with e-commerce is the low cost of entry, the chance to build a client base slowly and the potential financial rewards.
For those willing to enter the competitive transport industry, to begin with, one or two trucks, a small team of drivers, and several regular clients. Expect modest upfront expenses for vehicles, software and payroll. Next, consider acquiring versatile trucks to carry multiple kinds of goods, and that include refrigeration units. Fortunately, if you take on customers who need refrigerated transportation for their assets, you can achieve cost-effective control with a reefer management solution. That way, the system will deal with complexities like regulatory compliance and monitoring.
Tax Preparation Services
The best tip for navigating tax season is to be well prepared. Tax prep is a huge part of the retail service economy, and two prominent franchise names do aggressive marketing to bring in millions of customers. The good news for individual owners is that many consumers avoid the high-priced chains and seek out small entities. Most who open these services independently spend a good deal of time learning how to use the top software packages.
You don’t need to be an accountant or tax expert if you know how to enter the relevant data and scan each return for errors. The upside is that if you do good work, you can look forward to a loyal customer base. The secret to turning a profit in the taxation sector is using your personal and professional network to get those first few customers on board.
Some of today’s wealthiest corporate moguls began their careers as hedge fund managers immediately after completing a four-year degree. Admittedly, success in this lofty realm requires intense networking, vast social connections, financial acumen and exceptional people skills. However, grads need not be wealthy or hold degrees from prestigious universities if they remember to start small and build up the fund one investor at a time. In addition, of course, it’s wise to hold down a day job while amassing clients and marketing your new hedge fund enterprise. Some who opt for this route take additional coursework that includes seminars and tutorials in financial analysis, regulatory management and securities market law.
Photo Courtesy // Jacob Maslow – Cosmic Press