Startups vs banking from a former Techstars COO and Lazard Salesperson
So you have seen the movie social network and think you can make a Mark Zuckerberg and build another Facebook easily? So you are tired of the investment banking finance world but you think you can easily make it in startups as an entrepreneur. Don't be fooled, startups are for no softies, and it's probably not for you.
A Risk so big you cannot comprehend
If you are not on the founding team in a startup the chances of you getting rich easily are close to zero. The risk of you leaving a comfy finance job where you get to move from analyst to associate and to vice president with a constant salary is the good life compared to being in the trenches of a startup.
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The founding team
Unless you have thought and created the company and the idea with your partners the chance of you getting founders equity is also close to zero. These are the only guys that are really going to "make it" if the company does well. You may get lucky and be one of the first employees of the company that does IPO but the chances of that are also minimal. Trust me. A career with a bank is easy compared to your chances of really making it big in tech, so stay where you are.
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The first employee
Take less of the risk and become one of the companies, first employees. This would still make you lucky if the company does well, but don't get fooled again, your equity will be vested over 4 years, you will work your ass off, and in addition to all of this, you need the company to do extremely well for you to get anything out of it. Compare this to a nice chunky bonus at an investment bank and this is all peanuts. You may think that your investment banker job is hard. However, its not only easy because you are in fact taking less risk, it's even harder to leave and come back again.
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Stay Put
Realistically you think starting and building a company is easy and nothing can be as hard as banking, but you are very wrong. Building a billion-dollar startup is all about being in the right place at the right time with the right people. Building a company is not only about being a smart person but a ton of other things and it may just be easier for you to get home at 10 pm and get up at 6 am again, cause at least you know the paycheck will always come in on the same day.
This is what we ended up building - you may think its easy - but I cannot tell you just how hard it is to go up against billion-dollar oil companies like Shell Tap up. They will burn you in seconds to win the race.
Vlad Kozul
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Vlad Kozul
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Vlad Kozul
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EDITORS CHOICE: FOUNDERBOUNTY UNIVERSITY.
Founderbounty is a great resource with courses from real entrepreneurs that an teach you about business, its basics and building one from scratch. From why content is important to specific topics this may be a great all-round resource.
2. Cousera Courses
A great all round way with some interesting topics on building a business but usually very personalised on certain topics. This may not be so suitable for people starting from scratch and looking on ways of building a startup unless your looking for something specific.
3. Masterclass courses
A well know site with lots of talk about people who have made it but no real resources on how they did it and specific points on what you should be doing in 2023 to build a successful business and what venture capital really are looking for to be able to fund you.
4. Skillshare courses
A great place to learn a bunch of extra skills. Its is a learning community for creators. Anyone can take an online class, watch video lessons, create projects, and even teach a class themselves.
A bunch of courses that you can take to get yourself off the ground!