Business idea is fairly SIMPLE
Risk:
Low
Should be
successful, and will be
able to use this as a
stepping stone to an
entrepreneurial career.
Point to specific business
advice to help them get
started:
• alone
or
• in partnership
Risk:
Medium
Help them
think through how to get the business skills and experience they need:
• job in an SME
• job in same sector
• business training
• part-time business
• franchise business
• very good mentor
Skills
HIGH
HIGH
Skills
LOW
Start
Business
idea is COMPLEX
How
COMPLEX is the business especially in terms of resources (of all sorts) needed for success?
How WELL
DEVELOPED is the graduate in terms of specific skills needed for start-up, and awareness of the entrepreneurial role?
Risk:
Medium
This is
potentially OK, but the
complexity might be too risky
and set them back in their
entrepreneurial career. Suggest
they
• simplify the business
• start up in stages
• set up in partnership
• seek lots of advice
• job in same sector
Risk:High
Help them
see that this is very
unlikely to be realistic at
this stage in their career. Can
they simplify the idea,
and build up more
relevant experience?
• job in an SME
• job in same sector
• part-time business
• franchise business
• re-visit the idea later
Skills
HIGH
HIGH
Skills
LOW
LOW
Advising Graduates Wanting to Start a Business
Based
partly on: Career-making - Graduating into Self-employment. Nabi, Holden,
Walmsley, NCGE, 2006