I just finished my undergrad course and I have a really good resume with two international experiences. For the past year I have been working on a business idea that I strongly believe could be very profitable. However, big companies that work on the area I graduated from are hiring and I think I have a good chance with them. What should I do? Working for a big company first worth the risk of having my idea developed by someone else? Is it a good trade off -time spent working for a big company vs experience gained-?
Being both a Consultant to Startups and an Educator to young people like yourself, I commend you first on getting international experiences of any kind. And it's great you have a good business idea!
Here's the beauty of applying to those companies - you can always say no or not pursue the job. And if you're not hired, that's the end of that anyway! Better to have an offer first before you think of this as a 'choice'.
As for someone working on your idea - odds are someone already is even if not publicly known. Let's go with that assumption. Remember that being first to market isn't important anymore (remember Ask Jeeves? Google it.)
Short answer: apply for the job(s) and simultaneously try to put a team and execution plan. See which opportunity takes root. Talk with me more, as I love working with students and young grads!
Best of luck,
Arjun
I think you need to follow your gut... No one has an answer for you.
Where do you want your life to be in 3 years?
Take your vision and reverse engineer the best way to get to your vision.
You are the author of your own book, chose how you want to live it.
I have over built a multi million dollar business and also have 10 years of experience working for large companies.
I have a different take on this. You should work for startups for 2 to 3 years. In the meanwhile, try to find problems for which people are ready to pay money to get solutions to.
See if you can build a business on the side around it. You might fail many times. But dont give up. Once you go through this drill, your chances of building a successful company will be high and also at the same time, you will figure out if sarting something on your own is something you really enjoy doing.
All the best
Vivek
Having an idea is the first step in a long process of getting an idea to become a viable business.
I would try to work for a smaller company where you can be closer to the business side of things. See how a business is run. Learn. With larger companies the "fulfillment" side is usually isolated from the "business" side, so you may not get to see the granular business process.
And then use that experience to help build your business.
I worked as a consultant for a small company for 5 years and not only did I learn the business side, but also learned how to be a consultant, not just an IT guy. After the 5 years, I launched my first business...
Both, come with your own informational product, or other product and work for someone else to make money and get experience.
Spend as much time as it takes to come up with answering this question..Why would I buy your product or service? This will give you your USP. From there you will develop your drive, your, passion, and your marketing voice. From this you will develop unstoppable perseverance for success.
Best of Luck,
Mike
From the Trenches to the Towers Marketing
I will be glad to help as my time permits.
I started working with startups 20 years ago in grad school and have never looked back - starting up 4 different companies. I did work for a big company part way through my career for a year between startups and couldn't wait to get back into the startup world. You'll learn so much by going ahead with your passion and starting up a business. Although, you do need to be practical. If you have a family to support at this time, then that needs to be considered.
You can always bring on a partner with big company experience if you feel you need it on your team. The challenge I always see from those who desire to start up a company but end up in a big company is that it's harder to leave that big company the longer you're there.
In the end, follow your heart ... and good luck!
Big companies will give you a sense of security and structure. They are good on giving you 1 years worth of experience for the rest of your life. A startup will give you 5-10 years of experience every year. Your choice:)
When I graduated from university, there were very few job opportunities which meant I had to 'start somewhere' with what I had, in that case, I utilised my skills. I used my challenges as an opportunity to kickstart an online business, then created an award-winning blog until I got my front in the door for the field in which I studied - which was an unpaid internship opportunity that led to a permanent position.
What I am saying is, our journeys are entirely different - so be open-minded, don't overlook opportunities and turn your challenges into opportunities, they will be a great tool for growth both as an individual and professional.
If you believe in your idea, give it a shot and invest every time in working on it. But don't dismiss other opportunities. If you get the opportunity to work full-time give it a shot and work on your business idea. Juggle both until you can make headway.
All the best!
I will advice you to start your own business. Among these graduates will be the next generation of innovators, founders, entrepreneurs, and small business owners. These adventurers, some armed with well-defined business plans and others with nothing but dreams and moxie, are determined to follow the road less travelled and carve out their own unique career paths. But before turning down a steady job or packing away the interview suit, recent grads need to evaluate if they truly have what it takes to start a business. As an entrepreneur, the importance of doing work that brings you joy, and fulfilment cannot be overstated. In fact, a founder's passion is key to ensuring that a business thrive. “You have to do what you love to have a fulfilling career,” said John Tabis, founder, and CEO of The Bouqs Company. The only way to know if what seemed like a great idea in your dorm room can become a viable business is to do the research.
Take the time to thoroughly study all the elements that go into establishing your new business. Christopher K. Lee, founder, and career consultant with Purpose Redeemed, suggests immersing yourself in the minutiae of your chosen industry. “Understand the operations and finance of the business.” Finding experienced and trusted advisers who can offer guidance and support will help a new entrepreneur navigate the pitfalls of business development and ownership. A strong professional network often makes the difference between success and failure for your business. One way to build this network is to make connections as often as possible and with as many people as you can, said Sarah LaFave, board president of Lori's Hands, a non-profit she co-founded as a college student. While building your network, do not ignore the potential power of your existing relationships. In addition to using a variety of social networking tools to expand your circle of contacts, aspiring entrepreneurs also should seek out strategic volunteer opportunities. Julia Bonner, president of Pierce Public Relations, recalls that during the first year of starting her business, she sought out volunteer opportunities with groups where she could both network and have an impact. Recent college grads who are digital natives are especially equipped to harness technology's power to establish, promote and grow their businesses. Communication is a fundamental skill in life and in business. Andrew Pudalov, founder of Rush Bowls, recognizes that interpersonal communication can be challenging for many college graduates because they have grown up in a world where so much is shared via social media, texting, or direct messaging. “Sometimes entrepreneurs, especially technologists, can be introverts, but you have to get out of that and build both your willingness and skills to communicate,” said Nitin Seth, CEO of Incedo. Those who struggle with verbal communication can practice different approaches to strengthen this ability to express their vision for their business. For example, Bonner recommends coming up with planned responses to some of the most common questions asked about your business, and then testing out your answers on friends, colleagues and family members who have varying degrees of knowledge about your business and industry. All entrepreneurs need to prepare for every aspect of running a business, and this includes developing a sound understanding and ability to manage the financial aspects of their company, including financial analysis, taxes, and budgeting.
Alex Kurrelmeier, director of the Ron Rubin School for the Entrepreneur at Culver Academies, said early-stage entrepreneurs should seek out online courses in finance and study various start-up business models. If you want to start a business, you must put the desire for instant gratification aside and plan to work harder and longer than you ever imagined. Developing an unflappable resilience and commitment to your business will be necessary to get through the toughest days.
So much of what it takes to create a new business is simply about the unglamorous monotony of hard work. Lydia Brown, founder of Chicago Collegiate Nannies, believes prospective business owners need to understand this reality before venturing forth. As a business owner, Brown says she works twice the time that she did in her previous career and always has more work to do at the end of the day. Flexibility must also be part of the new entrepreneur's psyche, according to Kirsten Quigley, co-founder, and CEO of LunchSkins. This sobering fact may be enough to dissuade those with a low tolerance for risk from ever starting a business. However, young entrepreneurs should not fear failure, but instead recognize that it can teach them valuable lessons about their business and the path their careers should take. But recent grads who want to build a business must push past these confining notions of what it means to be successful.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath
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