Start your business and quit your 9 to 5
Have you ever dreamed of quitting your 9 to 5? Do you want to start your business? Let me tell you a story.
Back in the late 1990s, I was hired by Yahoo!, at the moment the leading Internet company. Not only was the company fantastic, but the job title was also great. I was hired as one of Yahoo!’s youngest directors within its international operations.
Having the ability to work with a giant’s brand and budget makes your life easy… until you become accountable for metrics, which is well… briefly, after you start your job.
So P&L, user acquisition, traffic, etc., become your targets and focus. You start working overtime, traveling with insane frequency and exhausting yourself beyond belief. People even start thinking that you have God-like attributions within your company (e.g., Could you hack into my girlfriend’s Yahoo! mail?), and well, while you might have started bleeding the company colors (I bled purple), soon you start realizing that the company doesn’t quite feel the same passion about employees.
And it is true. Especially when budget and revenue become the flavor of the day in board meetings. Soon employees are asked to increase their goals, assessments become harsher and layoffs destroy the morale of remaining employees.
Also, as a creative employee, you start to realize that the phenomenal idea you had soon becomes a billion dollar revenue generator. Yes, it was your baby, but your baby belongs to your employer. Yes, I did not start my business, I built someone else’s. Best case scenario, you would be rewarded with a raise, a bonus or stock options. With market volatility, you might find yourself a potential future millionaire one day, but under water the next day. Still, your idea is bringing boatloads of money to the company. At least, you reached your P&L target.
The corporate world is tough at an HR level as well. Competition for power is a constant. Even your boss might be worried about your performance and could hinder your efforts. Your subordinates might want your position, and even if you try lateral growth, you might step on some toes.
Finally, you are accountable for your mistakes, and so is the rest of your team, and being perfectly congruent, you are liable for someone else’s error is that impacts your goals.
On the other hand, jumping ship and opening your own shop, makes you responsible for all aspects of your business, liable for all mistakes, and your competition might be tougher, as now you are swimming in a shark-infested ocean. Now not only other people want your head, but also other companies, with budgets to compete against you. The huge difference, however, is that you are now the owner of your actions, of your success and plan. You set the rules and decide to abide by them or not. You decide when to steer directions and how to pace your growth. If you have a new billion dollar idea, now it’s yours to develop and enjoy, obviously leveraging from all the know-how and experience you got from that huge corporate job.
At your 9 to 5, one day someone will ask you, “why don’t you start your business, your own business?” You wonder if you should and risk that comfortable job. After all, it takes time and money, and you run all the risks of failure. So should you?
My two cents, YES! Do it! There is nothing more rewarding in your professional life than owning your own company, being your own boss, driving your success, failing at times, but overcoming hardships, and eventually thriving. You need however to surround yourself with the right team, to leverage from people that can help you draft a path and who can coach you and drive you throughout your growth.