From City to Startup — How Business Knowledge Breeds Entrepreneurship
Of the 400 million entrepreneurs globally, 95.1% have a bachelor’s degree, and 75.4% have worked in other companies for 6 years or more. So how do the skills developed in business translate into a triumphant start-up? We’ve compiled some of the keys skills that come from a corporate career which lead to success as a start-up.
- Team-work and independence—working for The Man is often one of the main reasons start-ups begin, as people start to want to become independent and make their own decisions for their own company. However, the corporate skills of team-work and common goal pair perfectly alongside the ability to be independent.
- Communication—arguably the most valuable tool in any entrepreneur’s toolkit, communication is everywhere and imperative to get right. Working in a corporate environment is one of the best places to hone this skill before you set off on a successful entrepreneurial endeavour, as it promotes communication with a variety of people, from peers to bosses.
- Sales — while marketing can bring in customers, skills in sales are what keeps the customer sold on a daily basis, and keeps them coming back.
- Time-keeping — the image of a start-up is often appealing for the flexibility it affords the founders, but one of the most important skills that can be learnt from having a corporate job is the ability to work and manage yourself around a timetable. Not only will customers, clients, and investors appreciate excellent time-keeping, but it’s the best way to boost productivity during the times you set for yourself.
But don’t just take our word for it — here at Forward Fooding, we spoke to entrepreneurs who have witnessed this first hand, to get their take on how the experience they gained during their careers impacts and influences how they run their business.
‘We’re Worth Dealing With’
Frankie Fox and Desiree Parker, co-founders of Foraging Fox, both left their jobs in the City to raise their young children, but found that when they came to later start their beetroot ketchup business, the skills they’d developed when working had become vital keys to success.
‘We approach things with a level of professionalism which definitely stems from our time in the City’, says Frankie. ‘It’s given us the confidence to show not only is our idea good, but we can make it work . We’ve been able to show them that we’re worth dealing with.’
‘Whether it’s raising money, dealing with big retailers, or carrying our negotiations, having a certain level of legal and accounting experience has been vital’.
Have you left the corporate hustle and moved to the world of entrepreneurship? Are you considering it? Join our community of start-ups so you can make meaningful collaborations within our network here.
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