Dear Aunty B,
I am currently in an internship at a large multi-national corporate in Melbourne and anticipate being offered a full-time position commencing February 2012, either from this company or another large organisation. However, I feel quite conflicted and am not sure if I really want to work for a large organisation and ‘climb the corporate ladder’.
For a number of years I have been very interested in starting my own business, but have felt quite nervous about how my entrepreneurship could work out. I have had part-time experience in the industry which I wish to start a business in and feel quite capable of filling a gap in the market. This particular type of business isn’t capital intensive and could most likely operate from home, at least initially.
Should I put my dreams of running my own business on the back burner and focus on securing a full-time graduate job, or should I take a punt and enter the world of the unknown? Or, is it feasible to try and manage both at the same time, with the help of family and other employees?
Regards,
Greg,
Melbourne
Dear Greg,
Go and work for “the man”. Now don’t get me wrong. You would go to learn – not climb the corporate ladder – and you would be an entrepreneurial spy. Working in a big business means you are going to learn a huge amount, both the good and the ugly.
On the good side you will learn about discipline, reporting lines, KPIs, processes, working in teams, specialisation, large marketing budgets and how nice it is to get your pay in your bank every week. The ugly? You will understand first-hand how political some organisations can be, how badly they can treat customers, how slow they are to respond to a changing marketplace and how frustrating it is working for people who are not particularly good at their jobs. And here is what you will seek to learn: how strategy is created, how to build networks, how to access money, how to build supply chains, how to develop marketing, pricing and sales strategies and how to really define your niche and refine your plan. You will also see from your pulpit how badly large companies can treat small businesses and how hard the little guy has to battle.
You sound to me like you have the makings of a great entrepreneur. But I worry your business idea which you can start from home has no barrier to entry and might not be the type of business that can grow. There is a lot more to business than filling a gap in the market, although of course that is the best place to start. Working for a year or two in a corporate will give you a much greater understanding about how business works.
If I were you I would take the job and spend my weekends and evenings reading about business and planning your business. Make sure you get StartupSmart and also have lots of meetings with people to talk about your business – outside business hours of course. So forget corporate ladders and back burners. Think instead about learning, planning, strategy, networks and the future.
Be smart,
Your Aunty B
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