Job vs Startup: Which is better for a college student

Job vs Startup
Prerit Dwivedi

With the placement season slowly hitting the campuses, millions of dreams will strive hard to bag that ‘big placement offer ‘ or convert that hard earned internship into a PPO . While some out of the league folks shall always opt out to bell the CAT and earn their MBA or crack the UPSC, the general chunk shall chase their first job out of their alma mater.

Reasons are obvious: it marks their transition from a survivor on a pocket money to a regular income earner.  Though a high paying MNC job promises a well settled life, a fat paycheck and a shot to check off your bucket-list, the recent rise of the start-up culture has turned the tables, especially for those who love living on the edge.

The idea of being your own boss, working as per your choice, turning your passion into profession and being a job giver is gaining ground, thanks to the social media which often depicts the journey of the successful entrepreneurs, the perks of having one’s own establishment as well continuous ranting of the highly paid employees due to their discontent.

With India registering a stupendous rise of 15,400 % in the number of startups, which rose from 471 in 2016 to 72,993 as on 30th June 2022, new innovative business ideas are being generated by young minds all over the country. The focus of the government towards building a business-based economy, the introduction of startup schemes and setting up of incubation centers in universities and colleges has not only led to India becoming the third largest startup ecosystem of the world after US and China but has also given wings to the dreams of numerous restless souls with a vision. Though a big proportion of the population still believes in jobs being a much safer bet in the initial stages of the career.

Let us have a look on the other side of the story as well, i.e. how a startup can be an equally rewarding field to venture into, fresh out of college.

Being a Naive Helps

As Sam Levenson puts it, “One of the virtues of being very young is that you don’t let the facts get in the way of your imagination “. For the ardent risk takers, the younger, the better. The earlier you start, the more time can be devoted to nurture your business plan, understand the intricacies involved and take well thought out decisions. For those who fear risks, a young age can serve to their advantage as things can be mended out in the future if anything goes wrong.

Escaping the Salary Trap

One of the most heard reasons behind shelved business plans is the psychological binding of people towards their salary, especially when they get used to the easy money culture. If you really think of your idea as something that can be a humongous success, the risk of avoiding the salary trap can be worth taking.

Being a Tech Savvy Pays Off

The past couple of years have witnessed the rise of numerous unicorn startups, which are all technology based at their core. If you have trained yourself well according to the latest technology standards, your chances of becoming a successful entrepreneur increase tremendously.

Greater Satisfaction

Nothing beats satisfaction as the reward for any venture one undertakes. Working for oneself obviously fosters a feeling of taking charge of your own life, not being dictated by the aspirations of others and most importantly, not being a puppet in the hands of a bad boss.

Funding is not far away

One of the deadliest fears which haunt the perturbed minds of the aspiring entrepreneurs is how will they manage the requisite funds. However, when one dwells deeper into the quest, options are many. From venture capitalist firms to crowdfunds, MSME schemes to angel investors and even bank loans, one has a number of alternatives to choose from.

Less is More

What’s true for a booze session as well a heavy weight workout, also holds equally good in the context of a startup. While many a folks look down upon the small-scale businesses, the reality often takes many to a surprise. Smaller investment means lower overhead costs, which when catapulted by higher sales often leads to higher margins and ultimately high profitability.

A Barren Land is Often a Goldmine

When starting with a business, look out for something that is high in demand, but scarce in supply. If you come out with something that has a huge potential customer pool, the returns might be awe striking.

A Great Learning Experience

Working for your own startup will sky rocket your practical understanding as to how the world economic machinery operates. Market trends, production optimization, material reutilization, cryptocurrency, demand forecast, market surveys, demand analysis and prediction will be continuously bombarding your mind day in and out. You might enter as a fool, become clever in the process but will always come out wise.

Conclusion

Thus, as opposed to the general conceptions about the startups and the uncertainties associated with them, they are often one of the most potent profit churning mechanisms. Patience, persistence and a never say die attitude can bring about a huge difference how the things turn out to be.

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