Friday 16 May 2014

Don't start your first Business until you try this! - Outside the Class


I had the pleasure of interviewing an upper student who was on his way to starting his 3rd business venture. We had a long discussion about motivation, future goals and then entrepreneurial landscape. Of course we came to the obvious questions:

“What advice would you give to anyone who wants to try entrepreneurship but hasn’t started?”
“Just do it. The upside is there is no roadmap or template like how there is one for a resume or something. So you aren't really wrong, it just may not work.”

“Ok so then is it this freedom that holds everyone back?”
“Probably, but if you can’t deal with uncertainty then you probably shouldn't be an entrepreneur.”

Get your feet wet
The startup life is in no way easy. Late nights and early morning are a given. Sacrifices will be made. So wouldn't it be smart to experience the trials and tribulations first in a low risk situation? This way if you find out it’s not for you, you won’t have disappointed investors, employees or customers. Take a job at a startup to just dip your toes in, you get to experience the life without the risk of absolute failure looming overhead.

You don’t have the resources
Working for a startup is a great platform to help build your networks and meet people much higher up the food chain. Often, we have ideas but not the means to make them a reality. By working for a startup you’ll experience the pleasure of seeing your plans become a reality, while building the resources you need. Some startups are internships only while some offer equity, some offer pay based on performance and in some rare cases you may even get a salary. More than that, you’ll build up the mentorship, connections and friends in high places you may need in the future.

You don’t have an idea or the business sense to execute it yet
In this case, it might be rewarding to work for a startup in the industry you’re interested in so that you can gain experience, expertise contact and have time to incubate your idea.
You’ll learn more on the front lines than you’ll ever learn in a classroom or a book.

There’s no shame in working for a bigger fish
I’ll sell this point with an anecdote. I had an idea to start a social venture and after my partner and I spent 8 months developing the idea, writing the business plan and entering competitions. We found TWO startups doing exactly what we planned to do… word for word. If you’re entrepreneurial minded it would be wiser to go to these startups and offer your ideas, expertise, research and performance than try to scrap resources together and compete. 


If you want to do more than your peers...

If you want to be more than your peers

If you want to meet people your peers will never meet

If you want to accomplish was your peers never will

Then check out My Career City. The experts on staff help students and recent graduates find jobs in the fast-paced and rewarding world of start-up companies. Join today and see the great job opportunities they have available for someone just like you!


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