"Just because it looks easy doesn't mean it will be"
Did your M. Sc. program equip you with the skills and knowledge necessary to explore entrepreneurship or start your own venture?
Notably, my transition into engineering (coming from IT) driven by personal interest made my master studies incredibly challenging. Besides the engaging content, what I learned and what continues to profoundly assist me is the mindset I developed during my studies: To persist until I've truly extracted every ounce of potential within me, even if it takes all night and four cups of coffee.
What were the most significant challenges you encountered when launching or running your start-up?
First of all, it was challenging to start establishing a business in a VUCA and Covid-affected world.
In addition, Balancing internal leadership and full accountability for the company externally and the juggling between sales, delivery and PR responsibilities.
How did you overcome these challenges, and what did you learn from them?
Embrace a genuine passion for what you do, and the flow will naturally follow, enabling you to navigate the complexities of the modern business landscape with resilience and determination. Consistency, also a vital factor, serves as the bedrock, ensuring that your business sails smoothly through the ever-changing tides of the market.
Have you experienced any significant setbacks or failures during your start-up journey?
Not every sales conversation or project in the life of a management consultant goes perfectly smoothly. It's crucial to stay true to oneself while remaining open to constructive feedback. Keeping these channels open during challenging and sometimes frustrating times is not easy. But when one manages to do so, there are moments when one can be truly grateful for an external perspective or two.
What advice would you give to current students and alumni who are considering or involved in start-ups?
Numbers don't lie; if you don't believe them, calculate again. If you still don't believe them, you better do it. Because the best ideas never bypass the 5P rule: Proper preparation (do your maths) prevents poor performance.
Are there specific pitfalls or challenges you would caution them about?
Beware the 'Overnight Success' Mirage: Just because it looks easy doesn't mean it won't take endless nights, sweat, and determination. Prepare for the illusion of overnight success to test your patience and resilience!
Is there anything else you can give to future founders?
Cherish the process as much as the outcome. Starting a start-up is a journey filled with challenges, setbacks, and triumphant moments. The path is as important as the destination. Learn from every mistake, celebrate every success, and always remain curious. The determination to keep learning and growing will be your strongest weapon. Be patient, stay focused, and trust your vision - it will guide you through the highs and lows.
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With its fast pace and more flexible structure start ups can offer unique opportunities to talented and well rounded students. Learn more about this path.
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