There are now a record number of graduates in jobs. But of those graduates, a HUGE 57% are currently earning £15,999 or less and 31% of grads doing internships aren’t being paid at all. If you think your salary sucks then maybe you should start up a side business.
Whether you are selling things on eBay or crowdfunding for your start-up, having a side business is always a good idea . Who doesn’t want to get in some extra cash?
A side business can actually be really worthwhile. Here are four things you will learn from the experience of having a side business, which will even boost your graduate job prospects further down the line. You’ll want to start one after reading this!
Tenacity is one of the greatest qualities in any successful business person. Having a side business will be challenging so it will teach you that. Marisa Mayer, the CEO of Yahoo is an amazing example of this – she started a nursery in her office as a side business but also so that her newborn could come to work with her.
2. Trial and error
If you know that if things don’t work out, then you can always try again is an important life lesson and one you will learn from having a side business. I have an eBay business where I buy and sell on designer items for a profit. Sometimes it doesn’t go to plan but if I make a loss I keep believing that I will make a big win next time.
3. Business knowledge
If you are a recent graduate then the business world can seem like a foreign planet to you. They don’t teach you about finance, or entrepreneurialism in an arts degree, that’s for sure! Having a side business will force you to learn about the industry, which will benefit your CV enormously.
Being transparent is important in the world of work. Sir Richard Branson does this well by blogging and sharing information about his company, Virgin Group, online. People will be interested in what you are doing so don’t be afraid to tell them!