The Rise to the Top: Advice for Entrepreneurs to Become Corporate Leaders

One of our clients, a former top management leader, had embarked on an entrepreneurial journey by starting their own startup. After a period of 3 years, they have decided to return to the corporate world.

Making the transition from a corporate job to starting your own business can be an exciting and rewarding experience.

However, if you decide to return to the corporate world, you may find that getting promoted within the new company can be challenging.

Merely establishing a strong personal brand or global thought leadership is not adequate for a former top management leader, who seeks to join as CEO of a mid to large-scale company.

I provided counsel to undertake the following measures in this regard.

Therefore, in this article, we'll explore some strategies for getting promoted from outside of the company after starting your own business, while also discussing how small business owners and bootstrapped startup founders can become CEOs.

Identify Transferable Skills and Accomplishments

When transitioning back to the corporate world, it's important to identify the skills and accomplishments you gained during your time as a business owner.

These skills and accomplishments can be translated into a relevant experience for the new role and can set you apart from other candidates.

For example, a former business owner who started a successful e-commerce platform could highlight their experience in digital marketing, customer acquisition, and financial management as transferable skills when applying for a marketing or finance role in a corporate setting.

Seek Out Opportunities to Lead

One of the challenges faced by small business owners and bootstrapped startup founders when trying to become CEOs is limited experience leading large teams.

However, there are opportunities to build leadership skills and gain experience leading larger teams, even in smaller organizations.

Solution: Although the position of CEO in a for-profit organization may be a long-term aspiration, the client could consider pursuing leadership roles in non-profit organizations. This domain presents fewer competitive challenges and may provide a more accessible entry point for the client.

Leverage Your Network

Another way to get promoted after starting your own business is to leverage your network.

This includes former colleagues, business partners, and industry contacts who can provide referrals or make introductions to decision-makers at the new company.

For example, a former business owner who started a successful marketing agency could leverage their network to connect with decision-makers at a corporate marketing department, highlighting their track record of success in the industry.

Continue to Build a Strong Network

Another challenge faced by small business owners and bootstrapped startup founders when trying to become CEOs is limited networks in larger organizations. However, building a strong network can help overcome this challenge and open up new opportunities.

Example: A bootstrapped startup founder could join industry associations, attend conferences and trade shows, and participate in online forums and communities to build a strong network of contacts in larger organizations.

Focus on Cultural Fit

When applying for a new role in a corporate setting, it's important to focus on cultural fit.

This means understanding the company's values, mission, and goals, and demonstrating how your skills and experience align with those values.

For example, a former business owner who values creativity and innovation could target companies with a similar culture, highlighting their experience as business owners where they had to think outside the box to succeed.

Seek Out Online Resources and Mentors

Small business owners and bootstrapped startup founders often have limited resources for professional development. However, there are many online resources available, including courses, webinars, and podcasts, that can help build skills and knowledge.

Example: A small business owner could join an online community of entrepreneurs or seek out a mentor in a related field to gain access to valuable resources for professional development.

Prioritize Time Management and Self-Care

Small business owners and bootstrapped startup founders often have limited time to focus on career advancement.

However, prioritizing time management and self-care can help create space for career development.

Example: A bootstrapped startup founder could create a weekly schedule that includes time for self-care, such as exercise or meditation, as well as time for professional development, such as attending webinars or networking events.

Be Open to Starting in a Lower Role

If you are returning to the corporate world after starting your own business, you may need to be open to starting in a lower role than your previous position.

This can be a valuable opportunity to learn the company culture, build relationships with colleagues, and demonstrate your value to the organization.

While accepting a lower-level role could be a feasible short-term strategy, it is crucial not to view this situation as a permanent one. It is recommended that the client continue to pursue CEO-level roles and expand their professional network with relevant individuals. Persevering through this process could potentially expedite their attainment of the desired position.

Conclusion : These steps have proven to help some of the existing entreprneurs switch to corporate life at the roles they once dreamt.

Do share your thoughts in the comments section.