The Wannabe Entrepreneur’s Dilemma

The Wantrepreneur's Dilemma

I have been a wannabe entrepreneur, or a wantrepreneur, for some time. Maybe you have a friend like that. Wannabe entrepreneurs are bugged with the clashing indecision: should I stay or should I go?

At a presentation in 2015 about a 5-year corporate program (that I remember nothing about) I had an Eureka moment—I needed to have a GABRIEL2020 program. The goal was not to stay, but to go by 2020. The simple 2-stage plan for the project was: 1) get a real life MBA experience; 2) get freaking started.

There is no silver bullet—only you can solve your dilemma. Below, I share a few points from my experience of transitioning from the corporate world to entrepreneurship. I hope they help increase your awareness, or even inspire you, a little.

After all that due diligence from home to the world and back, I shifted the first gear in 2017. My son was 5 months old. My boss and HR kindly reminded me about it, as if I could forget.

Onward, I successfully went through the first stage joining a much smaller, high growth company, where I developed a hardcore, in-depth and all-round business experience. This step was crucial to help mitigate risks and increase my entrepreneurial confidence after breaking out of the shell raw. The non-reckless move took a good amount of courage anyways.

Ideally, you better keep your gut-brain-heart symbiosis right throughout the process. But don’t wait for it to be perfect, because it won’t. Life happens and you feel how you feel. It’s unavoidable to feel afraid—often of irrational things that are unlikely to happen, especially when you are exhausted. It’s unavoidable to wonder if you made the right decision and consider going back through the wide gate. It’s unavoidable to feel frustrated because the support you were counting on or promised is not there. It’s unavoidable to make mistakes. Hopefully, you will enjoy ecstatic moments. You will feel lighter at top of the Ferris wheel, but remember that it's only the center that does not move. I learned from a former monk that this point is awareness (check the comments for more insights). Continuously working on it is key. Learn & let it be.

Some big things will prove to be small, whereas small things can grow big. Registering a company, putting a website online and updating your LinkedIn title to “Founder and CEO” seem big to many first-timers, but is actually easy and small. On the other hand, you may stumble upon situations as simple as having to fill in the company name and professional email in a form in order to proceed when you don’t even have them yet. In addition, you’ll quickly learn that the name and reputation of your previous well-known employer will not open doors automatically anymore in introductions, to sponsor your visa, or to expedite passport control interviews. Shake all these minor things off. Don’t stumble on small stones—your self-esteem is 100% on you. Be creative. Where there's a will, there's a way.

Fantasizing is pleasurable, but don’t romanticize entrepreneurship (freedom, no boss, doing only what you like, etc.). Learn through a lot of networking. A NY friend and author with some serious 20+ years in entrepreneurship and investment banking globally stressed the importance of learning in particular the tough reality of things. When they spill their guts, you’ll learn that both successful and unsuccessful entrepreneurs share at least 3 things in common: frustrations, regrets and failures. Things can get personally heavy including bad lawsuits, divorces, addictions. Don’t be so arrogant to think that you are different or immune. As the CEO of an innovative, 100-year old company once told me (he was much younger than that, by the way), leadership is very lonely. So you will laugh and cry many times alone, I read between the lines. Do your best to keep healthy emotionally, mentally, spiritually and physically. Beware of entrepreneurial fairy tales.

It’s great that you are purpose-driven, know your causes and want to make the world a better place. Never unlearn that. However, no matter how idealistic you are, it's worth highlighting the obvious that resources like money, budget, cash, capital, dough, la plata, to be short, will continue to play a big role. A very good friend and mentor reminded me one of these days that many people confuse 1) their intrinsic willingness to help "just because" without expecting anything in return with 2) downplaying or feeling guilty about being compensated for helping or adding value professionally. Be reminded that a fair compensation—whatever pricing strategy we are talking about—is not only appreciated by your client, but allows you to serve more and better. You deserve it, but don't feel entitled. More generally, what is important for anything-mindset is to be equipped with the ability to learn to unlearn (especially if you are over-educated or is inclined to over-analyze) in order to eliminate mental brakes.

Something I did not feel super comfortable with in the beginning was sharing and discussing business ideas with people I didn't know. Who owns the ideas eventually? Will they run away with them? Although we should be careful, chances are your ideas will pivot before becoming commercially viable, if ever. You can test the waters without revealing the gold. And you better test! People like to brainstorm and be heard. Listen to their excitement or otherwise. Now, if they would be good partners is another story. Am I a good partner, by the way? This bit is very scary and extremely important. Don't think only about complementary skills and experience. Take your time to discuss each other's values & principles—don't skip this step even if you feel uncomfortable.

Penultimate but should be first, why entrepreneurship? What was lacking before that what you want to fulfill? Be careful because it may be something you blamed others about but will continue hunting you. Entrepreneurship may not solve it, but can otherwise potentialize the problem. Consider that you may not need to quit your job as an intrapreneur, thus keeping your 6-figure salary, pension scheme, bonuses, etc. Psychological safety is important, so that's why you better plan well. As for me, I believe that we live only once and I am giving entrepreneurship a serious try. In the worst case scenario I can always write an article about it from a sunny beach (yep!).

Although the details of your story are likely different from mine, some of our generic struggles and solutions may overlap. It’s not about right or wrong. Addressing vulnerabilities is engaging and liberating. No shame. Now it’s time to take the next leap of faith. Time—or more specifically 247 days—will tell what will be of GABRIEL2020. In the meantime, let's continue learning, sharing and having fun. 2020, here I go!

?What's your wannabe entrepreneur's dilemma?

“The moment that you feel, just possibly, you are walking down the street naked, exposing too much of your heart and your mind, and what exists on the inside, showing too much of yourself...That is the moment you may be starting to get it right.”—Neil Gaiman

Disclaimer & Miscellaneous

Copyright ? 2019 Gabriel Mayrink. Please like, follow, share!

These are my own ideas and views. I got the pictures at Pexels (not sponsored) under a 'free to use' and 'no attribution required' license. I slightly edited most of them, which I understood to be fine. Any credits go to the artists anyways. Taking anything as advice, tip or hint is on your own account and of your entire responsibility and not of the author, who is not liable in any way, shape or form. Wishing you wisdom, cheers!