2023-2024 Purdue University Career Success Handbook

Considering Entrepreneurship

Many college students and graduates identified as part of Generation Z (i.e. born between mid-1990s and the 2010s) choose to pursue entrepreneurship rather than planning for a long career in the corporate, government or the not-for-profit sectors. According to data from WP Engine and the Center for Generational Kinetics, approximately 62% of this demographic cohort indicates they have started, or intend to start, their own business. The growth of the number of independent workers profiled on LinkedIn (40% since 2011) further confirms this trend towards students and graduates seeking to launch a business or work as freelancers, independent contractors, direct sellers, and/or gig employees. Many Gen Z students and graduates interested in entrepreneurial pursuits indicate that they are motivated by purpose and passion. Making a meaningful difference in the world while making a good living is the overarching objective. Towards accomplishing this goal, many students believe that entrepreneurship will provide them with the flexibility to have greater control of their schedule and, ultimately, better work-life balance. The pandemic experience gave many people a taste of what work flexibility can be and the benefit of setting one’s own work schedule. A Starting Point There are many careers with clearly defined paths, whether they be represented by a specific, vocationally focused academic major or type of major, or whether a professional position requires a certification. With entrepreneurship, the path is much less defined. What is required is intentional self- assessment. What are the students’ interests? How do those interests intersect with the students’ personal and work values? Is there a high tolerance for risk? What goals are sought to be accomplished? Purdue University Resources The Center for Career Opportunities (CCO) informs and empowers students and graduates using transformative career services, innovative technologies, and collaborative synergies to connect with professional opportunities. Purdue students can schedule one-on-one appointments with professional career services consultants to work through the self-learning process and progress towards decision-making on the entrepreneurial pursuit. Tools that consultants can deploy include on-demand platforms supporting career exploration and a comprehensive on-line career library – Career Research Portal. The Certificate in Entrepreneurship and Innovation Program is available to undergraduate students in all majors who want to transform their ideas into new ventures, generate value in established organizations, or have a positive impact on society. Similar to an academic minor, this program provides an opportunity for students to complete a series of five courses or entrepreneurship-related experiences, some of which may overlap with academic requirements in their majors. Students get hands-on experience with creativity, ideation, feasibility analysis, market research, business models, financial analysis, investor pitches, teamwork, and leadership.

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