In my past, I’ve worked at 3 other companies, all Fortune 500. I’m now the President ofGravity4, and I’ve begun my journey as an entrepreneur. There are many notable changes between the two worlds, but as Darwin mentioned, it’s all about adapting to change.
Fear is your worst enemy.
Risk is your reward.
Insomnia will become your best friend.
Here are 5 ways entrepreneurship differs from the corporate world.
“We’ve entered a major inflection point of our time, in which it becomes harder for companies to survive if they do not innovate fast enough.” Innovate or Die.
Meetings on Meetings About Meetings.
Meetings. It’s one word that comes up every 10 minutes in the corporate world, as if it’s on a rotational schedule. But, is it something worth taking time out of the day for? Most of the meetings are meetings to schedule meetings about other meetings.
How many times are your meetings about something that's of substance? Or, even that involves handing in deliverables? Meetings are supposed to analyze, but how do you analyze when nothing is being delivered?
At Gravity4, we have one phrase we engrain in every entrepreneur who joins our team.
“Don’t ask for permission, ask for forgiveness.”
If you need to make a decision because your gut tells you so, then do it. If you need to purchase something because it’s going to better the team and their ability to work, then do it.
Make decisions by instinct versus research. You must realize that your gut can never steer you in the wrong way; only numbers can.
There’s no need to waste time creating presentations, writing plans, or building pipelines to present. Just do it. And, let your actions speak louder than your words. No one is going to read your long emails, or stay focused through your presentations. But, they will hold you accountable for what you must deliver.
Face the Customer
If you are a C-level executive, or a board member of the company, have fewer meetings, and get in the front of the customer! The customer’s opinion will determine the amount of business you will receive. And, if you are behind a computer looking at reports and crunching numbers, you’ll forget the creativity and imagination behind entrepreneurship.
Give Credit where it’s Due
In the corporate world, everyone is looking to take credit for actions done by others. Let others shine, and don’t dampen their spirits. That’s the quickest way to lose your rock stars.
If you see someone going above and beyond his or her normal scope of work, recognize it. In the start-up world, there is no job title or job description; everyone is an entrepreneur.
There’s no manual written on how to do something in startups. Find your own way. If one way doesn’t work, then figure out another.
Stray away from the traditional means of things, and create something new. That’s why you’re an entrepreneur, right?