You may have heard the oft-quoted statistic that nine out of 10 startups fail.
Yet, you might not know the rest of the story.
The reality is that the above numbers are true. Yet, if a business can make it past its second year, its chances of survival go way, way up.
In fact, industry experts reveal that while 25% of start-ups don’t make it past the first year, if you can get to your fifth year, your chances of failure are only 10%. After your 10th year? There’s only a 6% chance.
The way to make it to that coveted two-year mark? Hire the right people, and create the strong foundation, all from the very beginning.
It might be appealing to spend the years of your startup or agency chasing a dollar around every corner. Yet, if you focus your efforts on building your business model, crafting your offering, and deploying the right infrastructure, you’ll reap the long-term rewards.
Whether you’re just starting out, or even if you’ve been around a little while, hiring the right people is key.
A great place to find local talent? Colleges and universities. There are more than 20.5 million students enrolled in higher education today, and that number continues to grow.
Today, we’re taking a look at the advantages provided when startups and agencies hire students, especially for design-based products.
Ready to get started? Let’s dig in!
1. They’re Eager and Enthusiastic
Put simply, students haven’t experienced the burnout that can come with years in a corporate office. They’re often excited to learn, enthusiastic about contributing to the project, and desire to do their best.
They also know how competitive and tight the job market can be. As such, they’re typically hard workers who will put in extra hours or put forth more effort to stand out from the rest.
If students can shine now, while they’re still in school, they know it can open doors of opportunity otherwise closed to many of their peers. To that end, they can be counted on to demonstrate their value and worth.
2. They’re Up for Adventure and Not Scared of Risk
Stability and security are two elements that most job seekers require.
While it’s true that students will expect — and deserve — your company’s support and backing, they’re often more willing to take on new, riskier roles and assignments.
Many students, especially recent grads or those looking to graduate soon, have yet to put down roots in a particular location. In addition, most do not have a mortgage to pay or a multi-person family to support.
As such, they’re excellent fits for design projects that require travel, or even relocation. While they’re still building their skill set and have yet to settle down, now is the perfect time to go on new adventures, meet new people, and learn as much as possible.
3. They’re Tech-Smart
Need that new website optimized for mobile? Want to take your marketing blog to the next design level? Want to reach more followers by more deeply engaging on social media? Interested in programming or designing your own applications?
If so, hire a student.
Today’s students are more tech-savvy and connected than ever before. That means they can help take your startup or agency to the next level, by ensuring you’re also up-to-date on the latest gadgets and trends.
A majority of current recent grads still fall under the millennial umbrella and as such, grew up during the cusp of the digital age. Students still in school have never really known a world outside of the always-on Internet of Things.
They’re also actively using these tools and systems at school. Applications from Dropbox to Skype are now employed in many classrooms around the world. Students can show you how to apply them in your business, opening up new connections and opportunities you never knew existed.
4. They’re Educable and Groomable
We all know the stodgy associate who’s been doing the same process in the same way for his or her entire career and refuses to change.
On the other hand, if you hire students, you’re in the prime position to teach them a variety of new skills and talents. You’ll help them build their resume and grow their capabilities.
In return, they’ll be able to perform more than one task at your company, growing your ROI.
For instance, students can be cross-trained on elements of both customer service and marketing. Then, when a client calls in with a request, they can upsell or cross-sell, and expand your reach and economic impact.
You’ll Have First Access
Did you know there are more than 39 million current students and recent graduates with LinkedIn profiles?
These students are out there, laying out their qualifications, building connections, and setting the groundwork for full-time employment.
When you hire a student, there is, of course, no guarantee that position will turn into a long-term, full-time gig, but there’s a chance. This is good news, especially if they’re a great fit for your company, and your company is a good fit for them.
By bringing on a student while they’re fresh out of school or still in school, you’ll have first dibs access to some incredible talent, all at a rate that’s more inexpensive than if you sought someone with tons of experience.
Student Hire: Bringing Jobs to School
If you’re ready to hire a student for your next design project, we’d love to help.
We connect U.S.-based college students to a range of business types, from startups to non-profit organizations.
We’ll work with you to find the perfect match for your company. Once you sign up, you can post your project for free, name your own price, and even request to keep a student on for multiple projects.
Prefer to browse student portfolios instead, to find the best fit for your company? We enable that too.