I am in the last year of university, should i sit in placements or start trying to build something right away ?
I do need a tech team and will it be easy to build one while working in a teach firm ? or how else can i build one
Is job experience good to have before building your own company?
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Re: Is job experience good to have before building your own company?
#2It helps you to get insights into an industry, a feel for what they need and how customers tick. Also connections and an understanding how businesses are run.
On the other hand, Microsoft and Meta have bee quite successful with founders sans job experience.
Re: Is job experience good to have before building your own company?
#3It helps you to get insights into an industry, a feel for what they need and how customers tick. Also connections and an understanding how businesses are run. On the other hand, Microsoft and Meta have bee quite successful with founders sans job experience.
Microsoft was just another small software company until the IBM opportunity came their way. Bill Gates' parents were very well connected and influential. I doubt Bill could have pulled off the deals without those advantages. Besides, IBM grossly under-estimated the opportunity. So luck has been a huge factor.
Re: Is job experience good to have before building your own company?
#4It helps you to get insights into an industry, a feel for what they need and how customers tick. Also connections and an understanding how businesses are run. On the other hand, Microsoft and Meta have bee quite successful with founders sans job experience.
Microsoft and Meta also had mentors and advisors, which I am not making assumptions to whether or not the OP has access to these.
Re: Is job experience good to have before building your own company?
#5You would greatly benefit from domain specific experience. The problem with university education is that you vastly over-estimate what you know. The theory is good, but practical experience trumps it. Knowing about the problems, solutions that have been implemented, what people are willing to pay and on what basis. The dynamics of negotiations, business, accounting, contract law, financing, etc are all critical.
The fast track approach would be to work for a startup in the domain that you are considering getting established within. However, sometimes working in a "legacy" firm will help you see the more deep seated problems.
Re: Is job experience good to have before building your own company?
#6It helps you to get insights into an industry, a feel for what they need and how customers tick. Also connections and an understanding how businesses are run. On the other hand, Microsoft and Meta have bee quite successful with founders sans job experience.
Are there any other companies where founders had no prior experience ?
Re: Is job experience good to have before building your own company?
#7You would greatly benefit from domain specific experience. The problem with university education is that you vastly over-estimate what you know. The theory is good, but practical experience trumps it. Knowing about the problems, solutions that have been implemented, what people are willing to pay and on what basis. The dynamics of negotiations, business, accounting, contract law, financing, etc are all critical. The…
Can working in my dad's small business help instead ?
Re: Is job experience good to have before building your own company?
#8You would greatly benefit from domain specific experience. The problem with university education is that you vastly over-estimate what you know. The theory is good, but practical experience trumps it. Knowing about the problems, solutions that have been implemented, what people are willing to pay and on what basis. The dynamics of negotiations, business, accounting, contract law, financing, etc are all critical. The…
Can working in my dad's small business help instead ?
Generally it is not a good idea to limit your horizons to a family business unless your goal is to perpetuate the family legacy. If your ambitions are to create something greater or in a different field, then you will need to go beyond your comfort zone.