Should You Start a Business if You’re an Unemployed Graduate?

What advice would you give an unemployed graduate? I recently landed on a Facebook post advising unemployed graduates to start businesses – buying and selling stuff.

I’ve seen this kind of advice before and don’t agree with it as a blanket solution from a personal and professional perspective. It will work for a few, but not everyone.

Should you start a business if you’re an unemployed graduate?

Here’s my take on this debate.

1. Business is over-glorified

Many of the people you see looking successful (especially on social media) are one step away from poverty or have deep debts. We don’t see this because people are good at hiding the truth.

2. Not everyone is made for business

Some people love being employed. Also, the comfort of knowing you have a salary at the end of the month beats the feast and famine cycles that are common in business. You also get experience, training and mentorship as an employee. How many business people are able to pay for these for themselves?

Relate article: Do You Really Want to Start a Business And Quit Your Job? Read This…

3. Getting a job may be a game of numbers

Getting a job may be tough, but how will you get one if you don’t keep trying? You also have to improve your job hunting and interview skills if you want to stay ahead of the pack.

Most people have access to internet. Go online and educate yourself about things like:

• Current CV formats.
• How to identify the right job for you.
• How to ace interviews.
• Just go to YouTube university or LinkedIn and learn, learn, learn.

Each time you apply for a job and don’t get a response or if you attend an interview and don’t get selected, contact the organization and find out why. Use this feedback to improve your job search and interview skills.

If you can, find a place to volunteer. Many organizations provide their volunteers with a stipend for fare and lunch. It may not be the many thousands you’re expecting, but it’s a start as you get experience.

When you do get a volunteer position, keep away from the complainers in that organization. Give the job your all, no matter how menial or low-paying it is.

4. If you decide to take the business path

If you decide that business is the best option for you:

• Apprentice under someone: That means getting a job in the kind of business you’re interested in.
• Find a credible mentor: This is someone who is already in that business or a similar one. They’ll hold your hand and show you the ropes.
• Sign up for a business startup program: There are many business startup training programs available for free or at a very low cost. You’ll probably less than what you’ll spend buying things to sell.

Do all three if possible.

There are people who start businesses and succeed without experience, mentorship or training. But how many successful ones do you know compared to the ones that failed or are struggling?

Related article: Is Business the Only Option if You Lose Your Job?

You can also start an online business or get a virtual job.

Additionally, instead of spending a lot of time on social media or watching videos, learn a skill that you can sell online. The internet is abuzz with people looking for virtual assistants, content creators, digital marketers, etc.

• Find something that interests you.
• Learn how to do it from YouTube.
• Start earning online. Sites like Upwork, Fiverr, Freelancer, IWorker, and ProBlogger are great places to get jobs.
• Keep learning as you build your skills so that you’re able to increase your fees as your skills grow.

You can turn this job or online business into a side hustle. Also, this additional income stream gives a financial cushion and is your backup plan.

If you already have some work experience, you can use your knowledge and experience to create income as you look for a job. This article has some ideas on how you can turn a skill, talent, or experience into extra income.

Related article: Getting Started on Your Dream Business: Here’s My Story.

Just to make it real…

I was jobless for more than 6 months after completing university. When I finally got a job, it only paid 200/- a day. We were paid on Friday and that money was not even enough to cover my bus fare.

To make things worse, the teller at the bank where we collected our pay was a former college-mate. Decades later, I still remember her smug smile each time she paid us.

However, sticking to that job for about 4 months helped me step into a vacancy when someone quit. It made sense for the management to promote me instead of advertising the position and hiring from outside.

Getting that permanent position gave me a salary, benefits, AND more experience!

Looking back at my employment record:

• I applied for jobs from newspaper ads.
• I was always the underdog, the least experienced, and the least educated in the interviews.
• Getting a job wasn’t easy. I wasn’t picked in some interviews and was mistreated in others. The mistreatment was so bad at times that I’d walk out of interviews in tears.

But eventually, I’d get a job. No godparents or sponsors, no bribing, no shenanigans. I just trusted that what is mine will find me and then did my part – a day at a time, an application at a time, and an interview at a time.

What advice can you give an unemployed graduate?

What has been your experience with job-hunting? How can you advise a graduate who is currently unemployed?

Let’s chip in and help by sharing our thoughts, advice, resources, and experiences in the Comments below.

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