I should probably be paying more attention to using the right keywords in my post titles - those that would attract startup oriented readers (the one above would get the Disney fans). But where's the fun in that?
Moving on, last week I had conversations with three different people seriously considering the startup jump - that is, starting their own companies, not just joining one. I've written about this in previous posts (look here and here), but obviously this is an ever-engaging topic that bears revisiting. None of them wants to be mentioned by name and understandably don't want their ideas bruited about either, so this will all be cloaked in general terms.
The first is a senior level manager in a smallish company. Not a startup, but fairly small in size, with decent revenues and good growth. She really enjoys her job and is very good at it, but, she said, this is not what she wants to be doing - she doesn't feel satisfied. So she's been looking around, checking into various options, and has come across an idea that resonates with her deeply. It involves a passion of hers and she's figured out a way she can indulge it while making money. Now that she has the idea, she's dealing with is the uncertainty of entrepreneurship. Does she have to quit her job? What if it doesn't work? Will she be giving up moving into the corner office (or close) by doing this, and would she care?
The second is a mid-level manager of a Fortune 100 company. She, along with her coworker, built a nifty little application that's getting rave reviews internally. Her company is not into software so she sees no further outlet for what she believes would be an universally welcomed solution. She's trying to figure out if she can launch a company with this app - with her company's support and sponsorship - instead of letting it (and herself) languish with nothing more than a pat on the back and a bonus.
The last is a young man who's already experienced a big company as well as a startup while still in his twenties. He and his friend want to start their own company because (1) they believe that's the best way to work and (2) they believe they can make it work. And, not to mention, they want to take this walk on the wild side while they're still unencumbered by other obligations. Their startup idea? Well, they're working - and I mean, working - on it. Brainstorming, researching, analyzing dozens of tech ideas, hoping to find the one that brings their 'eureka!' moment. They've already got a game plan on how to do the startup in advance of picking the idea (stay small, stay close, be careful about funding etc.). They're driven by the how, not the what - at least not yet.
What all this means - to me at least - is that more and more people are leaning towards entrepreneurship, and for many different reasons. Strikingly, among the three people mentioned, not one was doing it just for the money, though they do expect some financial rewards. It looks like more people are willing to unleash their inner entrepreneur and maybe that would be the smart thing to do in this economic climate (check out this BusinessWeek piece for one opinion on why entrepreneurs are the answer to the purported perils of globalization). Any and all of would-be entrepreneurs above could be successful, though each has his/her own set of hurdles to cross before even starting the venture - it would be interesting to report back three years from now and see how they fared). But no matter what they end up doing, this entrepreneurial attitude is sure to have an impact - and if nothing else, they have more fun answering 'how's work?' these days.
1 comment:
It's true this year is like no other in forcing people to pare back their efforts to focus only on a few top priorities - which generally include making money. Startups are more difficult than most paths, so it stands to reason this year is harder than others to keep the startup dream alive.
I often think that this economy tests anyone - whether in a startup, big corporation, small business -- to see how determined they are and how well they can manage on just a few resources. The ones who have it easiest are those who had some reserves built up to keep them going through tough times. For those without large reserves (like me) the winners will be those who can create value with very little investment, and continue to develop and build that value. The great advantage is that for those who emerge on the other side, many competitors will either be gone or will be starting from scratch. In many ways a downturn is a great time to start a business, but it does take a lot of, hmmmm, cahones I guess!
Post a Comment