Photo Credit:
Microsoft Copilot. I had asked it to create an image to illustrate an article
on self-employment ideas specifically for Indian college graduates. This is
what it created. Please don’t ask me to describe and explain the image!
The world is in turmoil. Everyone who knows how to download
and customize software offers to implement Artificial Intelligence (AI)
solutions. Irrespective of their merits, they threaten mediocre workers. A mediocre
implementation is good enough to replace mediocre employees. Indirectly, they
threaten mediocre colleges. Everyone who can drive an electric scooter and
home-deliver retail purchases is doing that instead of wasting four years in a
mediocre college.
There is no saying if a college education will get one a
job. So, we must prepare college students to think ahead about what they would
like to do after they complete their courses or drop out earlier. Some of the world's great entrepreneurs got
an idea of what they wanted to do while in college. They were so excited about
their ideas that they dropped out!
I propose that investors, including banks and governments, fund commercial property for renting out on a “College Road”.
Several colleges could share one such road. Simultaneously, colleges should
introduce one or more courses on business management available as electives to
students in all disciplinary streams.
These courses should cover what one needs to know to identify promising
business ideas, to start up a business, and run it profitably. Students who
come up with good proposals would be given loans by the banks involved and invited to rent a shop on the college road.
There are two major developments that shops on college roads should exploit. One is finding niches in the market which enable survivability and profits. A shop offering pizzas in a small town gets a premium as customers wish to experiment with items they perceive as upmarket. A pharmacy that home-delivers medicines gets a sizable market. The same pharmacy could also offer affordable transport of patients to hospitals round the clock.
The second significant development is quick commerce. Customers want their orders delivered in 10 minutes or less. Millions of youngsters on electric two-wheelers are there to do the delivery. You must pay a commission to sell through a good online network, vastly increasing your visibility. It automates your cash handling with customers paying online in advance. This enables you to increase the variety of items you keep and sell.
Political leaders could endorse shops on the college road by
addressing student audiences, telling them how they create job opportunities.
Srinivasan Ramani