It may sound counter intuitive, but it is immensely beneficial for every entrepreneur to take up a job.
Don’t start-up, take a job: Take up a job in a company belonging to the same industry for 6-12 months before starting up. Money and a fancy designation should be last in your priority of things while seeking a job. Just make sure you can take out the below mentioned benefits out of your job:
Big Note: I am not advising you to cheat. Do not take up a job with your potential competitor to steal clients. You will be wasting your time in law suits throughout your life, besides it only has short term benefits. Instead take up a job in a company which could either be an associate or a supplier or a distributor to your company. Examples:
a) If you want to start an app development firm, try to get into the Play store division of Google
b) If you want to start a poultry farm, try to work for a distributor of poultry products or try to work in the operations division of KFC!
You can take benefit of the following three aspects, once you take up a job:
Free training: This is your free training of the industry. In fact not even free, you are getting money to be trained to understand the nuances of a particular industry. You can also find out what is it that your supplier or distributors would want once you start up your firm. Example: You can know what is it that KFC looks for in its suppliers of poultry products and then you can take those measures once you start up your poultry farm. You can know what features of apps does Google play store gives the most value to and you can integrate those features in you apps, once you start-up.
Network: This is perhaps the biggest benefit of taking up a job in so many respects. Let us look at a few aspects. a) Your ex-employer might just provide the first business to your company, and with so many of your friends in the past company, this should not be difficult. b) Your search for good partners and employees just became easier. You have worked with people in the industry and know which one to hire and which one to avoid. c) Access to the complete value chain of distributors, suppliers and customers.
Several other finer aspects:
Knowing your experience, investors are more likely to invest in your venture
Opportunity to learn while making risk-free mistakes
Working in teams and working under effective leaders
A job by default gives us discipline (especially beneficial for first timers)
End Note: If there are so many benefits you can take out by working in a company, you should also give back to the company. When you quit, do serve the complete notice period and be extra helpful in handling over your responsibilities.
Happy starting up!
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