Next steps in my career - start a business? Join a company?
April 18, 2019 11:32 AM Subscribe
I am about to graduate as valedictorian from a top tier program. In decision paralysis about what to do next, and wondering if my mental approach to it is not the right one.
I am about to graduate as valedictorian (on track, at least) from a top tier graduate program. While I am proud of where I am thus far, I am in an existential crisis about my career.
There's a lot to unpack, but I've had a lot of mental stress about my career. I feel that I have a lot of opportunity which I am very grateful for, but I am unexcited by most opportunities that I have come across. Yet I am not interviewing at many places or being very proactive.
I worked over the summer for a top tier financial services firm, and while I learned a ton I didn't love the work and ruled it out. It was a risky move which I don't regret it.
Now I am deciding between starting my own company and joining a company as the CEO's right hand person. But I am feeling...unsure about both. More details on both:
Startup: I am working with a good friend on a company idea. In the past few months, I've had a lot of traction - we've built a functional prototype, have interviewed over hundreds of customers. Yet I am not sure if it's the right idea and if my friend is committed. I think I have a chance at capital (but I haven't been fundraising). It's the scarier option, and I am not sure if I am up for the mental stress and requirements of starting a business (like the reality of living at home with parents, etc). Yet it's a good time in my life while I am young and don't have a family. I also am a minority so I am not sure if my imposter syndrome is a function of that.
Company: I would work closely with the CEO of an industry that I am interested in. The company is doing well, and everyone has very positive things to say about the CEO. The day to day job would give me a ton of exposure yet isn't super involved, but it could be very valuable training if I do want to start a business down the line.
I am unsure about what to do. And on top of it all, I'm just really tired and feeling kind of unmotivated. Should I commit to one or the other or just table it and interview in the fall? Yet would that hurt my chances?
I am about to graduate as valedictorian (on track, at least) from a top tier graduate program. While I am proud of where I am thus far, I am in an existential crisis about my career.
There's a lot to unpack, but I've had a lot of mental stress about my career. I feel that I have a lot of opportunity which I am very grateful for, but I am unexcited by most opportunities that I have come across. Yet I am not interviewing at many places or being very proactive.
I worked over the summer for a top tier financial services firm, and while I learned a ton I didn't love the work and ruled it out. It was a risky move which I don't regret it.
Now I am deciding between starting my own company and joining a company as the CEO's right hand person. But I am feeling...unsure about both. More details on both:
Startup: I am working with a good friend on a company idea. In the past few months, I've had a lot of traction - we've built a functional prototype, have interviewed over hundreds of customers. Yet I am not sure if it's the right idea and if my friend is committed. I think I have a chance at capital (but I haven't been fundraising). It's the scarier option, and I am not sure if I am up for the mental stress and requirements of starting a business (like the reality of living at home with parents, etc). Yet it's a good time in my life while I am young and don't have a family. I also am a minority so I am not sure if my imposter syndrome is a function of that.
Company: I would work closely with the CEO of an industry that I am interested in. The company is doing well, and everyone has very positive things to say about the CEO. The day to day job would give me a ton of exposure yet isn't super involved, but it could be very valuable training if I do want to start a business down the line.
I am unsure about what to do. And on top of it all, I'm just really tired and feeling kind of unmotivated. Should I commit to one or the other or just table it and interview in the fall? Yet would that hurt my chances?
If you took the job, could you spend nights and weekends planning your startup? Would the job be complementary (would it teach you things you could then apply in the startup) without having restrictions that would stop you from creating the startup?
The thing that most stuck out to me is your concern that your friend might not be committed to the startup. It’s hard enough to start your own business without having the extra worry about managing a co-founder who may not be a good fit. I would prioritize figuring out this issue if you’re going with the startup path.
posted by sallybrown at 11:59 AM on April 18, 2019 [3 favorites]
The thing that most stuck out to me is your concern that your friend might not be committed to the startup. It’s hard enough to start your own business without having the extra worry about managing a co-founder who may not be a good fit. I would prioritize figuring out this issue if you’re going with the startup path.
posted by sallybrown at 11:59 AM on April 18, 2019 [3 favorites]
I think getting to be the right hand person of a ceo when a young graduate is the rarer and more valuable opportunity
posted by JonB at 12:01 PM on April 18, 2019 [17 favorites]
posted by JonB at 12:01 PM on April 18, 2019 [17 favorites]
I was leaning toward saying you should go for it re: the company, but after giving it a couple minutes' thought I'd actually say take the job. Here's why:
1. You would be working closely with a CEO. This can help you learn not only about your own strengths and weaknesses, but also about what kind of manager you want to be - and/or don't want to be. It also gives you time to reflect on what kind of institution you want to create with your business. That kind of stuff can be very hard to change once it's set up.
2. Capital. You don't say how much money you'd be making, but I assume it's enough to start saving up some living expense money so when you do decide to launch, you're not forced to also uproot yourself and move back in with your parents.
3. Imposter syndrome. I have felt this in my role as a program manager, and I can say that the thing that helped me feel most competent in general was actually doing the work, and asking for advice when needed (I was lucky to have an amazing supervisor who was happy to either be totally hands-off or meet with me multiple times a week if I needed it). This may also help you figure out what part of your IS is just general IS and which, if any, is connected to your minority status.
4. Buy-in. You aren't confident in your business partner. If you don't feel you can 100% rely on them to do whatever it is it's their job to do, don't make your livelihood depend on them.
A final note on getting "exposure." I don't know what your industry is like, but for me this made me cringe just a bit, because I know a lot of brilliant new graduates who take jobs with this promise... But then they end up doing drudge work and essentially becoming an executive assistant with a fancy title. Women, especially, seem to get stuck in this role, as more and more people begin to ask them to do little side tasks for them.
This may not at all be what this is; I obviously don't have a clear view of your situation. But be prepared to be direct in asking for more work, or, more likely, coming up with ideas executing them, then asking if the work you already did can become part of your ongoing responsibilities.
Congratulations on your graduation, and best of luck!
posted by Urban Winter at 12:05 PM on April 18, 2019 [1 favorite]
1. You would be working closely with a CEO. This can help you learn not only about your own strengths and weaknesses, but also about what kind of manager you want to be - and/or don't want to be. It also gives you time to reflect on what kind of institution you want to create with your business. That kind of stuff can be very hard to change once it's set up.
2. Capital. You don't say how much money you'd be making, but I assume it's enough to start saving up some living expense money so when you do decide to launch, you're not forced to also uproot yourself and move back in with your parents.
3. Imposter syndrome. I have felt this in my role as a program manager, and I can say that the thing that helped me feel most competent in general was actually doing the work, and asking for advice when needed (I was lucky to have an amazing supervisor who was happy to either be totally hands-off or meet with me multiple times a week if I needed it). This may also help you figure out what part of your IS is just general IS and which, if any, is connected to your minority status.
4. Buy-in. You aren't confident in your business partner. If you don't feel you can 100% rely on them to do whatever it is it's their job to do, don't make your livelihood depend on them.
A final note on getting "exposure." I don't know what your industry is like, but for me this made me cringe just a bit, because I know a lot of brilliant new graduates who take jobs with this promise... But then they end up doing drudge work and essentially becoming an executive assistant with a fancy title. Women, especially, seem to get stuck in this role, as more and more people begin to ask them to do little side tasks for them.
This may not at all be what this is; I obviously don't have a clear view of your situation. But be prepared to be direct in asking for more work, or, more likely, coming up with ideas executing them, then asking if the work you already did can become part of your ongoing responsibilities.
Congratulations on your graduation, and best of luck!
posted by Urban Winter at 12:05 PM on April 18, 2019 [1 favorite]
Take the job w the CEO. If your startup gets traction and becomes a real thing and you don’t have CEO skills you may need to bring one on or have one pushed on you. Learn! If you’re entrepreneurial then you will continue to have good ideas that you can more effectively execute on as you become more experienced.
posted by sestaaak at 12:57 PM on April 18, 2019 [2 favorites]
posted by sestaaak at 12:57 PM on April 18, 2019 [2 favorites]
I started a company after finishing an elite grad program, even raised money from a respected fund, but crashed and burned because of unaddressed mental health issues that sound a bit like yours + lack of deep experience related to getting startup off the ground.
My two cents: Do not forego a solid job offer to jump into a startup without lots of solid customers, particularly if you don't do well under pressure. Ideas are easy, execution and scaling are ten times harder than raising money
posted by shaademaan at 1:03 PM on April 18, 2019 [4 favorites]
My two cents: Do not forego a solid job offer to jump into a startup without lots of solid customers, particularly if you don't do well under pressure. Ideas are easy, execution and scaling are ten times harder than raising money
posted by shaademaan at 1:03 PM on April 18, 2019 [4 favorites]
Go with the company for now, you'll save yourself a lot of time and expense learning from another company about how to run a company. Also, starting your own company is mentally and physically draining, and you don't sound like you're in the right head space for it.
A year or two at another company well teach you a lot, plus give you some savings for when you are ready to go it on your own!
posted by Goblin Barbarian at 2:27 PM on April 18, 2019 [2 favorites]
A year or two at another company well teach you a lot, plus give you some savings for when you are ready to go it on your own!
posted by Goblin Barbarian at 2:27 PM on April 18, 2019 [2 favorites]
Would be the better bet to be on the side of the CEO. Gain some of that knowledge while being paid and do your business growing for yourself on the said if you will until you are ready to go. That is my thought on the subject.
posted by lafavellc at 10:20 PM on April 18, 2019
posted by lafavellc at 10:20 PM on April 18, 2019
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