This is an important question I think we need to begin to seriously ask ourselves in the 21st century. We come from a long line of entrepreneurial people who have always had to make a way for themselves in this country has it has proven not to be interested in making a way for us.

Somewhere along the line we bought the myth that getting a “good job” is all a person needs. And to get a good job, you need to have a good education, thus we send our children to school. They rack up debt, gain some experience, then enter the workforce, but there is one problem.

This isn’t the same workforce our grandparents and great grandparents grew up in. You are not going to work your entire life for one company, retire and have a fat pension set up. Hell, they are trying to remove unions and pension responsibilities now. We can only imagine it is going to get worse in the future.

Look, entrepreneurship isn’t for everyone. I get it, but how do you know if it isn’t right for your child if you don’t let them try?

Taking the entrepreneurial route out of college is great because you always have your education to fall back on if things go wrong. You can always rejoin the workforce after a few years if you feel that is the best route. However, most people that go into the workforce right away tend to accumulate more bills, responsibilities, and indebtedness, thus never have the opportunity to give starting a business a chance.

[ADSENSE2]As an entrepreneur myself, this is the route i’ve set for my children.

In fact, my oldest, who is a senior this year at 15 years old, already has a math tutoring business he can take with him into college. From there, we will discuss expanding his enterprise via the web, but the seed has been planted in him. If he provides stellar service or products, people will give him their hard earned money.

But there is a lot to think about when it comes to making this choice. Thanks to the people at TheBlackHomeSchool.com, they have broken down a few disadvantages and advantages to think about.

Disadvantages

1. There is no guarantee of a paycheck. But it is worth the freedom and flexibility that comes with running one’s own business. Creativity isn’t limited and it is only after having honed one’s skills that the checks will start coming in on a regular basis.
2. It’s a lonely career path. Once they jump into their own business, many entrepreneurs will find themselves isolated. Perhaps that is why the “peak age” for starting a company is around 40 years.
3. Getting financial backing can be quite a challenge. That fact is worsened when it rides on the back of student loans.

Advantages

1. Straight out of college, when you are young and strong is the best time to not have a steady paycheck. Even if their business fails – of which there is a 50% chance of it doing so, within the first 5 years – 20-somethings can take it as a lesson and can then incorporate what they have learned into their next venture.
2. College grads already have their contacts in place in the form of their recent graduated alumni. But of course, they won’t only rely on them for their business.
3. It is a great way to learn all there is to know about a trade. A new entrepreneur will quickly need to learn how to become a financier, an accountant, a marketer and a manager – all at once.

SOUND OFF: Do you think entrepreneurship is an option for our children fresh out of college or should they get a typical job?

Source: TheBlackHomeSchool.com