Wednesday, April 04, 2012

Entrepreneurship as a career

Why not consider Entrepreneurship as a career - same way as being a doctor, engineer, manager, banker, consultant, or an artist? Why can't there be a 'career entrepreneur'? If one is serious about entrepreneurship, he should think of it has a career, rather than as a single shot / single phase in life.

  1. Start small: In all professions, one starts at the bottom. So, why not start a small business to start? It helps you learn the basics and prepare for next steps.
  2. Move up gradually: Don't look for the big bang hit (if it happens, great!), but move up gradually. Like any career, choose a field in which there is scope to move ahead.
  3. Be ready to do crap: You do crappy things in the world's most glorified jobs also - why shy away in entrepreneurship?
  4. Be ready to handle crap: Stupid boss / managers are the same as irritating co-founders, employees and customers.
  5. Have mentors: In any other career, you need mentors too - even more important in entrepreneurship
  6. Switch: A popular way to progress in any career is to switch jobs. An entrepreneur should be open to switching his business as and when need arises.
  7. Take a break when necessary: If things are not going well, take a break and come back after some time. It is a 40 year career, not a 3 year stint.
  8. Maintain work-life balance: Don't ignore your family
Entrepreneurship is a career, not a stint interspersed in another career.

4 comments:

Swati Gupta said...

9. Be open to feedback - Sometimes friends and family may provide critical feedback. It is easy to get defensive and feel like 'they just don't understand' why you are doing things a certain way. But they may have a point - do not ignore it.

abcd said...

10. Trust in yourself and in your idea (while still being open to change with the flow). Just listen to your mind and kidney (no heart please!!). The best ideas that worked are the ones that everyone felt were crap (and precisely that is why they worked, else others would have done it long ago). You'll have bad times when you'll receive all the gyan in the world from all the people in the world. Trick is in learning to ignore them without being cold to them! Last, don't expect and keep the faith!

moneybhai said...

Well said dude...but I guess your point 7 mean flexibility during the execution. Switching to a new business altogether may raise questions about depth of planning.

Kunal said...

Good thinking! Have myself always thought of it as something that I want to do in 3-5 years. Its the whole mindset thing.

Also, interesting comments by all. In fact, having faith in your plan and being flexible and open to feedback seem like 2 opposing things. Easy to consult on and difficult to get them right.