Are you graduating soon? If so, congrats!
Whether you’re graduating from high school or college, you may be moving to a new town, or getting involved with new activities — or both.
You have a business. Should you continue running your business after graduation? Well, it depends.
Ask yourself some questions:
- Do you still like being an entrepreneur, and are you still getting something out of it?
Do you remember when you first started your own business? “Try starting your own business,” they said. “It’ll be fun!”
You probably also heard a lot of talk about careers and how the working world is changing and will continue to change. You may have been influenced by the rise of the “gig economy” and how, because of this, a lot of career/business experts suggest that more people, from different age groups, should start their own businesses.
But, it’s still rare for someone to be an entrepreneur for their entire, or for even most, of their career. Ask yourself if you still like being your own boss, and whether you have gained experience and skills that will benefit you in the future. Maybe it’s time to try working for someone else.
- Will continuing your own business fit into your new life?
Graduating from high school or college guarantees one thing: Change. The main question is: How many changes will you deal with?
If you’re graduating from high school, are you going to college? If so, is that college or university in another city, or even a different state?
If you’re graduating from college, do you plan to stay in your college town, or will you move to another city or state?
Obviously you can’t take your business with you unless it is online-based. But even if it is, will it conflict with other activities that you would really prefer to do at this point or that will be of greater benefit to you in the long run? The steady paycheck of working for someone else, for instance, may be crucial for your college expenses. Or maybe, if you are alone in a new city, spending time to develop a circle of friends is more important than continuing to develop your business — you can always return to that later.
- What do friends and family think (and what can they do)?
Trying to figure out if you should keep your business, can feel overwhelming. You don’t have to (and you probably shouldn’t) make this decision alone.
Talk to at least a couple of people who you trust will give you good advice. This can include parents, other family members, friends, teachers and mentors. They may not only give you good advice — they may give you help in running your business so that it can keep going without so much of your attention.
So now — before graduation — is a great time to start thinking about what else is important to you, besides running your own business. And then decide if your business fits in with your overall goals and plans.
Whatever you decide, know that the skills and people you’ve met while running a business will help you move on to the next stage of your life. And that’s definitely something to celebrate!