Corporate Mindset & Entrepreneurship

[Roose]

I have been struggling for several years now as to what exactly I want to, and can do, as far as making a living goes. I went to college, up to masters degree. This is actually not a job search thread, though. I am more interested in what is needed to be successful in the corporate world. Do some people simply not have it?

My mother's side of the family are all self employed. They mostly deal in real estate, but also other aspects of land management and livestock. I am not sure if any of them have ever worked a white collar job in their lives. My father's side is all professionals. I seriously doubt any of them has ever performed a blue-collar job in their lives. I understand there are blue and white collar jobs in both areas, just making a differentiation. Pretty much my dad's side works for others, while my mother's side work entirely for themselves.

I guess my main question is this: are people meant for one or the other -- corporate trail or self employment? Or do these routes intersect or cross allowing for transition between the two? Are some people simply meant to go corporate? Are others meant to go out on their own entirely?

[Kujako]

I look at it this way. I could make more money going off on my own, but I could also make less. I like having a guaranteed pay check twice a month to cover my mortgage.

Should I be so inclined, I always add a prevision to my employment contracts that stipulates I can work on my own projects. So if by some miracle I find myself with free time I can still write and sell my own software or pick up some side contracts.

[Laize]

I have been struggling for several years now as to what exactly I want to, and can do, as far as making a living goes. I went to college, up to masters degree. This is actually not a job search thread, though. I am more interested in what is needed to be successful in the corporate world. Do some people simply not have it?

My mother's side of the family are all self employed. They mostly deal in real estate, but also other aspects of land management and livestock. I am not sure if any of them have ever worked a white collar job in their lives. My father's side is all professionals. I seriously doubt any of them has ever performed a blue-collar job in their lives. I understand there are blue and white collar jobs in both areas, just making a differentiation. Pretty much my dad's side works for others, while my mother's side work entirely for themselves.

I guess my main question is this: are people meant for one or the other -- corporate trail or self employment? Or do these routes intersect or cross allowing for transition between the two? Are some people simply meant to go corporate? Are others meant to go out on their own entirely?

I work for myself. I can tell you that doing so is an extremely risky proposition. When you first start out you stand to lose everything you own as well as things you might own in the future. There's no such risk when you work for someone else.

It all depends on the risk you're willing to take in your life. If you feel destined to work for someone else, that can be changed by simply taking a chance. It's VERY hard work but it's just as rewarding.

[Reeve]

I look at it this way. I could make more money going off on my own, but I could also make less. I like having a guaranteed pay check twice a month to cover my mortgage.

Should I be so inclined, I always add a prevision to my employment contracts that stipulates I can work on my own projects. So if by some miracle I find myself with free time I can still write and sell my own software or pick up some side contracts.

Pretty much this. It's all a question of risk, and depending on the profession chosen, of growth potential.

I like the security of knowing that my paycheck is assured every month. I'm also much better at having someone give me direction than going off and getting things done on my own. I also thrive in a corporate environment because I'm assertive and come off as intelligent, so people seem to value my opinions.

[Roose]

I am pretty sure that it has been the whole risk aspect that has kept me looking at corporate positions.

I guess learning how to take risks is a whole separate matter.

[Skippy88]

There was a sign up in my Grade 7 room that said something along the lines are you a leader or a follower with no 3rd option. Jobs are somewhat similar in that either you own your own business or you work for someone else who does. There really is no 3rd choice. Ultimately it's up to you on which one is best for you. I would prefer working for someone else after seeing my dad own his own business. It was long days and commutes some nights we wouldn't see him until after we went to bed. Plus I've seen so many retailers go under and people losing their shirt so speak. The current one we are dealing with is a Mom & Dad with 2 kids now bankrupt and her dad had helped finance a lot of it so most likely his financial situation is not good either.

[Reeve]

I am pretty sure that it has been the whole risk aspect that has kept me looking at corporate positions.

I guess learning how to take risks is a whole separate matter.

It's more than just risks. You have to ask yourself (and be honest) are you the sort of person who can self-direct well, or will you need someone directing you? Not everyone has the ability to wake up in the morning, know what they want to accomplish during the day, and go out and do it. If you need someone to help you figure that out, self-employment may not be for you.

[Afrospinach]

I guess my main question is this: are people meant for one or the other -- corporate trail or self employment? Or do these routes intersect or cross allowing for transition between the two? Are some people simply meant to go corporate? Are others meant to go out on their own entirely?

Imo yes and no. Self employed = risk and responsibility, something not everyone is up for. Any job has a certainly level of responsibility but when you are self employed you live and die(exaggeration) by your own actions.

You already know essentially what employers want, reliable, good communication, initiative etc. Sounds to me like you just need to make a decision and go for it

[Gheld]

Pretty much this. It's all a question of risk, and depending on the profession chosen, of growth potential.

I like the security of knowing that my paycheck is assured every month. I'm also much better at having someone give me direction than going off and getting things done on my own. I also thrive in a corporate environment because I'm assertive and come off as intelligent, so people seem to value my opinions.

Quoted for quoting for truth.

I've had the opportunity of knowing both the employed and self employed and rags to riches and riches to rags tend to be a part of the same story.

The entrepreneurial types love to brag about their triumphs but leave out the failures, and it seems to mostly be failure. (Although when it does work out apparently it's pretty sweet.)

Don't get me wrong, I'm dying to try the self employed thing just to scratch that off my bucket list, but I know it's riskier than settling in to a good career, somewhere in the middle of a reputable company.

[Lenonis]

I am pretty sure that it has been the whole risk aspect that has kept me looking at corporate positions.

I guess learning how to take risks is a whole separate matter.

The issue is that it's not just about risk -- it's also about knowledge. Very very very very very very few people have the knowledge to run a successful business by themselves. Usually there is some facet of business they lack experience in.

I know a ton of people who have tried to start their own business and they failed simply because they just didn't understand enough about business to make it work. This is especially true for young entrepreneurs who try to start right out of school.

I would take a really good look at yourself, as honestly as possible, and see what skillsets you have and what you are weak in. If you find you have weaknesses in key areas of business, then you should try to strike out on your own. At best you should partner with someone to try to run a business. Otherwise there is no harm in working in a corporate environment for a while to learn the ropes, maybe pick up a business degree or somesuch along the way before you try.

Another alternate is going the consultant route. That's kind of a hybrid of working for yourself and working for a company -- and you can easily split off and form your own consulting company when you are ready.

[Roose]

Thanks for the responses. Some really good points. As much as I want to work for myself, I think I need to suck it up and get some more experience in the exact business that I plan to operate.

[Danielm7]

In my family there are people who have worked corporate jobs for awhile before spinning off their own business and doing very well. There are also other people who tried at their own business, did OK, then went and worked corporate jobs and do awesome there. You aren't locked into one way or anything by any means.