Can a corporate professional succeed in startup?
Senior corporate employees often get an itch to start off on their own after a few years. This is partly because they don’t seem to be getting any more promotions, and their prospects of progressing in their own industry are bleak.
They are also fed up of having to report to bosses and working in what seem to be dead-end jobs. They also secretly believe that they will be able to do a much better job than their seniors, who don’t seem to be doing anything useful. It appears to them that all their managers do is spend time in meetings, while they do all the actual heavy lifting.
Since they know so much about their industry, they believe they would be better off working for themselves, rather than remaining a corporate slave all their life.
They are much more mature; have a great network, and plenty of domain expertise, but this is not enough to become an entrepreneur. They should consider partner with young founders, so their complementary skills can help them to build a successful business.
While this may seem attractive on paper, it does need a lot of courage, and often the culture mismatch dooms these enterprises to failure.Dr. Aniruddh Malapani, Angel Investor
Dr. Aniruddh observed that often a professional in corporation gets the drive to startup of their own when they hit a plateau in their career. Even though they believe that they have all the right ingredients to succeed, they often fail because many of the perceived strengths do not get materialized in the real world. So the question is can they succeed in startup life?
First of all, a startup is not a small version of a large corporation. It is chaotic, too many unpredictable uncertainties. A lot of decisions needs to be taken quickly. Data are often too less to help data-driven decision making. Process driven approach of the corporate professionals and risk-reward analysis for decisions prevents them from taking those quick decisions. Furthermore, there is an ego that comes along with the tag of a past big corporate.
After the 6th month, when usual regular salary doesn’t come in, they get into too much pressure, more so those who have a housing/education/other loans to clear.
A simple rule to see is, whether there has been enough chaos in life and family in the past. That corporate drop out founders who have had a fair bit of chaos in life generally do well, others start a second innings in smaller companies.