You are in your pre-final or final year of graduation and you start to hear the buzzword “startup” everywhere suddenly – friends are talking about it, it’s on the news and it’s on social media.
And after a while of listening to chatter about running your own business and establishing a startup, you are now in a dilemma about what you should do after you graduate – should you take that high paying lucrative MNC job or should you take the entrepreneurial road?
There is a big notion that after you get an MNC job, you chill for the rest of your life and also that startup owners are destined to be millionaires. Both of these notions are wrong to the maximum extent and need clarification.
If you get an MNC job, which is probably a marketing company or an IT based company, work pressure for freshers is so tremendously high that they hardly get any time for themselves in a day. The first few years remain that way and almost 60% of them change companies after that.
Talking about entrepreneurs, there are hundreds of companies around the world that fail to run even for a few years, and some even a few days. It’s a very tough path filled with risks.
But it’s not all negative. Getting placed in a company gives you job security at least for the following few months.
If you do well, it will get you a lot of money. If one’s mindset is able to adapt to the corporate pressure and lifestyle, it is your playground and you will score like a champion.
Establishing your own startup is a significant way of being independent, not worrying about bosses and if you succeed, you’ll be making millions for sure. Not all startups succeed, but Amazon and Apple started in a garage and today they need no introduction.
What To Keep In Mind While Choosing
There are certain things that you as a college graduate should take into account while choosing either startup or an MNC job.
Work Culture: MNCs have no fixed responsibilities and work is sometimes indefinitely pressurizing. Startup work culture is need based. You will not have fixed office hours and will need to dedicate yourself completely for the growth of your company.
Family Conditions: If you do not have a strong financial background in the family, you should probably try an MNC job first, save and then seed fund your startup later on.
Investor debt in such conditions will prove disastrous. If you have enough support and will manage without causing the family any financial trouble, you have nothing to lose – the entrepreneurs’ road is worth taking.
Goals: What you need to figure out first is what you want to do and what your goals are. Are you looking to make money quickly? Most startups take 6 months to a year on an average to start generating significant income. MNC jobs would be better then.
Are you looking to change the world with a product or service you have discovered/invented and do not want to be bossed around? Startups are made for this purpose. Think about your goals again and then make the choice.
Alibaba Group Founder Jack Ma said, “Work till you are 35-40 and learn in an MNC. After that, use the knowledge to establish your own business. That way your chances of success are better.”
Apple Founder Steve Jobs said, “People who think they are crazy enough to change the world are the ones that do. No business is small. If you think you can, you should go ahead with your startup.”
Reiterating, there is no right advice for this. Depends on who you are, your financial background, goals, and mindset.
If you can take the risk, startups. If you enjoy working for a company and want money quickly, MNC.
Tell us about your choice in the comments below.
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