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I'm at a crossroads at the moment in my career. I've been in my current industry for many years now and have a successful career working for others but I'm looking for a new challenge. Should I take the plunge and struggle with my own startup or work for an existing startup at a more senior level. Curious to know what others would do.
DEAR FRIEND........... ITS NICE TO KNOW THAT YOU HAVE TWO OPTIONS IN MIND,,, ALWAYS THATS FINE TO HAVE MORE THEN ONE NARROW OPTION..... I BELIEVE IF YOU GOT SOME HANDY RESOURCES TO START YOUR OWN SEGMENT THE BEST IS TO GO FOR THAT, BUT KEEP IN YOUR MIND THAT MOSTLY WE PROFESSIONALS ALWAYS REMAIN IN THE SUEDO DREAM WORLD OF BEING EXECUTIVES ,,,, SO GET RID OF THIS DROZI FEELING .................. BE YOUR OWN BOSS ,,,, GOOD LUCK
This is a very good question. There is no right or wrong choice, subject to your ability to understand, counter and manage the risks involved. Having your own business, in the long run will give you a definitive advantage over being employed. The risk is commensurate to the reward. In your own business, you are at risk of not having a steady source of income, but should you make it successful, the profits will more than make up for the risk taken. You also need to understand that a start-up will require a level of contribution unlike being an employee. Depending on your business model, you will need to do all of whatever is required to get the business operational and profitable, unless you have enough funding to employ specific talents. The best way I would recommend is to start your business, whilst being employed and to get full time into the business when it absolutely clear that it not only requires your100% input, but also that it can sustain you from then on.
I will give you a psychological answer. You are the only one who can answer this.
By narrowing down your options to only two options related to entrepreneurship and startups, you already seem to have reached your bus-stop, at the cross-roads, but you are not yet sure where the bus will take you.
You seem to have a high-tech background related to e-business and you're working at one, right? Ask yourself:
Dear Suleman, if you think you have enough financial backup and are ready to take up risks to start your own business, and you have business opportunities and can foresee a growth, then I think you should go ahead with your own business...
Dear Suleman,
It is great to share your thought with this group of excellent and skilled team, however, I don't believe that you will get the right answer. All you will get is just few advices on how to look at your situation.
In order to be able to give a "Fatwa", allot of details is needed. What are your capabilities and capacities? Can you manage a business? Can you take full responsibilities or prefer less responsibilities? What are your weaknesses? .....
What are the risks? What are the opportunities? What are the challenges?.....
I believe you are the only one who can answer this question