There is no half-pregnancy! Is there half-entrepreneur?
April 4, 2011 § 2 Comments
Like with pregnancy you are either pregnant or not pregnant! There is not such thing as half pregnancy. So, is there half Entrepreneur?
Well, there is the so-called part-time entrepreneur, which is a mix between being and not being an entrepreneur. It means still having a job, reducing the risk but on the flip side, having a small business (profitable or not) to take care of. A hobby?
Well, of course it is not all black and white and it depends on many factors: the type of business, the risk willing to take, age and other family constraints, etc. Last friday, Alberto Torron (Twitter:@atorron), Telefonica employee and co-founder of todotaladros.com came to talk to us in class as part of the #ietechstartup session with @edans
Alberto sells around 4 tools per day with an average sale of 250€. This makes it enough to have a good a profitable business after one year of operations while also having a normal job at Telefonica. But I would be worried if I was Alberto. He just proved to a group of high trained MBA entrepreneurs that there is a promising market for tools in Spain. It just take the courage of two full time entrepreneurs to develop a business plan in some weeks, think big, get some funding and start executing to become the herramientas.com of Spain, or better, http://www.tools.com for Europe! This does not mean that Alberto will be out of business, I guess he has some key elements like customers satisfaction, that makes him successful despite been a small player. But Alberto has the risk of not been the tool site of choice by the general consumer, who is already saturated with so many brands and tech startups.
Again, it depends on the situation. But not going full entrepreneurship has its price and the risk is as high as going for it. It takes the same effort to raise 100k as 1 million. So why think small? Yes, I am latin and I think to understand how latins think towards risk due the economic environment we have been surrounded, but if we never think big, we will never get big. After all, failing big means learning also big.
I personally think to be on the right age and time to think big, this is why I have decided to co-found foodieSquare, an online European marketplace for food lovers. Yes, we could have started under a part-time entrepreneurship approach, but because this may be my last time to start thinking big, (age, family constraints and perhaps all those reasons why Alberto has gone part-time) I therefore have decided to aim for big and become full time entrepreneur despite by MBA loan and family (second kid on the way)!
Every day of our life that goes by, risk increases. However you see it. So, if risk is only getting bigger, then you have to start NOW! As I said: My wife is for the second time pregnant. Not half pregnant. So, for me, after some years of being just an employee, the time has come to fulfill my dream and become an entrepreneur, not half entrepreneur.