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Every business was once a start-up business, so you can disregard anyone who gives you a hard time when they hear the phrase ''start-up.'' Today, the internet helps accelerate those who want to start their own business. In order to be successful, you must have a lot of flexibility, energy, intelligence, creativity, and a positive outlook. Being an MBA or possessing other qualifications will definitely give you a head start in a start-up business. You must have a strong desire to make your working environment genuinely enjoyable. It is an incredibly intense industry, with 80% of all companies failing within their first two years. However, if you are successful, you can generate an extremely rewarding income. Read on for some demystification of common myths associated with start-up businesses.
In recent years, start-up, has become a nasty word among business people; however, even huge conglomerates such as Westinghouse, AT&T, and Pepsi were all once start-ups. The difference today is that the Internet broke down the barriers that entrepreneurs once had to face, and today, though some start-ups still survive, the Wall Street battlefield is littered with hundreds of former E-entities. The trends changed quickly, and the market forced start-ups to streamline the way they do business, but those that survived are now operating under leaner and meaner conditions but still have the entrepreneurial spirit of their founders. Many are now realizing that drive without education and real skills will end their business as quickly as it started.
Success in this industry takes lots of energy, flexibility, intelligence, creativity, and a bit of the Pollyanna in all of us, meaning that sometimes you just need to look at the bright side. You may not get everything you wanted, but you're willing to invest in the company and the people around you as long as you get your share of the cake in the end. In this ever-changing business environment, start-ups and the economy are still learning the rules that govern and define them, you are an explorer of sorts, and you can be one of the many that will shape the future.
Life in the Start-up Industry:
Start-ups need qualified people, especially MBAs and anyone with real world experience, in the areas of marketing, business development, finance, sales, and management to help manage and create a corporate vision and direction to be a partner for success, though not in the literal title or pay. In general, you will work with a variety of individuals depending on your firm, but one thing that the people will have in common is the creativity and desire to make your working environment genuinely enjoyable. However, no one can forget that you work in an extremely intense industry, where 80% of all companies fail in their first two years. Though this number is grim, you are a pressure player with the ability to focus on your tasks at hand while keeping in mind your long term goals and objectives.
Your abilities and skills will make you a major asset to the firm, and your contributions will not go unnoticed. Though at start-ups your salary can be on the lower end of the pay spectrum for MBAs, generally $60,000 to $100,000, plus options, your ability to advance in a short amount of time can be phenomenal, and your pay will increase with your increasing responsibilities and title.
Myth
I have to have connections to work in a start-up.
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While nepotism and sometimes despotism existed early on, a number of start-ups were forced to become more competitive, and though you may not have the connections right now, you have the right skills, and if you have the right skills, Employment Authority can help you make the connections.
Myth
I have to have tons of technology experience or knowledge to work in this industry.
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Experts generally agree, though tech experience helps, there are many positions at start-ups that don't require a technical background. Plus, your knowledge on the issues that affect the company, including the technology infrastructure concerns, will increase exponentially as your begin working.
Myth
I will make tons of money in this industry.
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Be realistic. Although a number of start-ups are becoming more conservative, this is still an entrepreneurial enterprise in a new market that still has no defined business model to determine success. With a number of start-ups failing, your stock options could become worthless. The potential to make a substantial amount of money is there, but you need to be willing to roll with the punches.
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"There are always vacancies. Organizations are born, organizations expand, workers become restless, quit, change jobs, move, become ill long-term, or become handicapped, retire, or die. There are always jobs out there waiting to be filled. The fact that you can't find those jobs only means the vacancy hasn't been advertised, or you're not using the right method to find it. When the Internet or job-postings, or agencies, or ads, or resumes, don't work, there are other ways of turning up the job you want. So, if you're coming up 'empty,' you need to change the search method you've been using. ... To speed up your search for one of the jobs that are out there, go after many different organizations, instead of just one or two."
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