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For many students, graduation is fast approaching – that pivotal moment when you’re all of a sudden supposed to get your act together and know what you’ll be doing for the rest of your life. Do you accept the first job you’re offered just to get your parents off your back? Do you go back to school in the hopes of putting off the real world for just a little bit longer? Or do you join the increasing numbers of young people who are choosing to boldly go where no one has gone before: into the world of entrepreneurship?

Whether it’s because they want to be their own bosses and take control of their destinies or because they crave the rush and insecurity that comes with starting their own business, a growing number of young Canadians are driving towards becoming entrepreneurs. In fact, a recent Angus Reid poll found that more young Canadians today between the ages of 18 and 35 dream of being an entrepreneur over any other profession.

However, entrepreneurship is not for everyone. Before you drop out of school or quit your job, you should evaluate whether you are suited for the rollercoaster life of an entrepreneur. Are you a self-starter? Are you easily discouraged or can you motivate yourself through the inevitable tough times that are to come? Can you handle the stress of not knowing when your next paycheque might be coming in? These are just a few of the questions that would-be entrepreneurs need to ask themselves before starting their own business.

If after serious self-assessment you still think you’re cut out for the job, plow full steam ahead! Use your creativity to come up with potential business opportunities and single out the one that gets your adrenaline pumping. The next step is to prepare the all-important business plan to determine just how your idea will be financially rewarding. Here, in addition to outlining your idea, you need to show your research of the market, your manufacturing or delivery strategy, financial projections and any outside investment you require. Once this plan is in writing, you will be that much closer to achieving your dreams.

Since 1996, young entrepreneurs across Canada have been entering the small and medium-sized business market at three times the rate per year of entrepreneurs over the age of 45. With their unique energy and dedication, many students are proving that it’s not only the likes of Bill Gates and Michael Dell who can become successful young entrepreneurs. In fact, there is no better time to begin experimenting with startups than on college campuses, which have great advertising potential due to their close-knit communities and their own media outlets, which provide free access to some of the brightest minds in the country.

Building your own successful company doesn’t have to be a pipe dream. Entrepreneurship is a constant battle, but with hard work and the right preparation, you too can join the ranks of us who are living the life of our dreams!