4 Reasons Why You Should Rethink Entrepreneurship
What I wish I knew before starting my business after college
Everywhere you look someone is quitting their corporate job to pursue entrepreneurship. Online media has branded the 9–5 as an unnecessary career step that should be avoided at all costs. Online readers love entrepreneurship, young people love the “idea” of entrepreneurship. Few actually understand what it means to be an entrepreneur. I certainly didn’t, and sometimes still don’t. Granted I have only been doing this for a year, but upon recent reflection, I can’t help but wonder if making the leap straight into freelancing was the best decision for my career, long-term.
Now, I get it. You want to be your own boss, a digital nomad exploring the world, freedom from the monotony of routine and office politics. But there are sacrifices to being your boss. I just want you to be prepared before you jump in. Here are a few reasons to consider going into a corporate position before making a leap into entrepreneurship.
1. You actually don’t know it all…
The idea of “waiting your turn” or “ climbing the ladder” feels outdated. If you are more skilled, you should elevate. Here is the thing, you aren't that skilled. As a new professional space, sorry, but you don’t know it all and you aren’t that good. Not yet at least.
Depending on your field there are benefits to working under and learning from those with more experience. Don’t undervalue the benefit of having someone overlook your work. Constructive criticism is a gift, especially if you are just starting your career. It makes you more concise, justified, confident, in your style. It makes you better.
When you work for yourself you become the expert. You now operate as the creative director, editor, and creator. This means there is no middleman between your work's ideation and publication. Which to a new writer, for example, is limiting. The ability to bounce off new ideas, consult on how to angle a story, and even communicating effectively are all skills acquired in an office setting where the stakes are lower.
I am not saying to stay in corporate forever, quite the opposite actually. I am implying to learn your craft under the guidance of others. Develop confidence in your work, build rapport. Essentially you will be getting paid to grow your skillset and build a leverageable portfolio of work. This will help sell your value to clients later on.
2. Networking
Without a network, your freelance journey will be an uphill batter your first year or two. LinkedIn remains the best place for professional networking, in my opinion, but many have success at industry-focused conventions and on other social platforms. I think it depends on your industry, but LinkedIn is usually where the decisions makers hangout. Those are the people you want to connect with because they have the budget to pay you.
You should start building a list of contacts BEFORE you enter the workforce if possible.
Tip: Reach out to junior-level employees at companies you would like to work for during your junior/senior. Send a quick message asking if they have time for a chat about their position, work culture, etc. Then, when you are ready to apply for jobs, send them a quick note and ask if you can use them as a reference for their application. Most likely they will say yes, and this can help strengthen the position of your application.
Working a 9–5 gives you access to people. It’s a great way to build a network. You can always reach out to your prior colleagues as a freelancer to ask if they know anyone in need of your service. If you go straight into freelancing, you have to build a list from nothing. This takes time and practice.
3. Discipline & Self-Agency
Most lack discipline. This is why so many freelancers & entrepreneurs fail. As the sole proprietor of your business, discipline is the most important skill to develop early on. If you lack self-discipline, be prepared to work overtime. However, like with any skill, with consistent practice discipline can be acquired.
A 9–5 structure will help you develop time management and organizational skills. While it will be up to you to maintain this structure, a 9–5 will lay the groundwork for acquiring good time management habits.
From personal experience, as you build a portfolio of clients and start to have steady work/deadlines accountability won’t be as great of a challenge. However in the beginning when you are constantly hunting for clients, or when discouragement is rampant, or you’re not consistently pitching yourself because you lack confidence, accountability will make or break your entrepreneurship dreams.
Tip: Time-block and find a routine. Routine is key.
4. Socialization
Moving to a new city where I knew no one, during a lockdown, while being a freelancer took a toll on my social life. I never anticipated feeling so isolated. As an entrepreneur, you will have to work twice as hard to build a solid community of friends.
If you are planning on moving to a new city where you don’t know anyone, a job can be a bridge to meeting new people. Again, a 9–5 is not a permanent solution but there is nothing wrong with capitalizing on the benefits that come along with the position.
Overview
While the benefits of entrepreneurship are plentiful, I do believe there is a considerable amount of value in spending your first year (or two) out of college at a 9–5 corporate position. Learn from others, network, make friends, absorb as much as possible, be a sponge. Then start your own thing, slowly. It will make the process 10x more enjoyable. You will feel more prepared, have industry experience to help gauge your market value, a working portfolio, and a solid network to start you off.
