We frequently read these days about college graduates being unable to find employment in the fields for which they studied and then, as a result, have to seek jobs for which they are overqualified.
As a parent, have you ever thought about trying to help your college graduate son or daughter open his or her own business? An adult child does not have to be a college graduate, of course, to open a new business.
Operating a business does require certain skill sets and personality characteristics, but many people possess such skills and traits: independence, energy, desire, and the ability to think and concentrate. Hiring a good attorney and accountant also helps.
Opening a business does carry a heavy risk of failure. About half of all new businesses fail within five years or less. You can search the Internet for the reasons startups fail. But with proper planning, and execution of that planning, the risk of failure can be reduced greatly – if not eliminated.
So, as a parent, what can you do to help your child open and operate a successful business?
First, think small; big can come later – with success. Many different businesses can be started for $500, or even less. Second, you may have to shell out a few bucks. And, third, consider letting your child stay in the nest a little longer, until he or she can get a business going.
You can search the Internet for "how to operate a business successfully," and just about any other topic you can imagine. For starters, you can search on "best small businesses to open."
The writer of this article quit an upper-echelon editorial job with a large daily newspaper in order to open a business-writing service, a risky venture at its best. He spent $135 for a used desk, $30 for a two-drawer filing cabinet, $10 for a telephone extension cord, and about $8 for stationery. His gross income soared into six figures in less than five years. It can be done, and we are here to help you.
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