CEO By Night
Aside from the shitty hours in some division, careers in IB seem to provide the perfect conditions for enterprise to flourish. You're wealthier than most other people your age, you’re young so you’re still a bit of a dreamer and, if you’ve made it in, chances are you’re pretty fuckin’ smart too.
While I do have an appetite for finance and IB seems well suited to my interests and aspirations, the idea of owning my own business has always attracted me.
Is it possible to successfully manage both? Do you know many people in IB who have side projects that they set time and money aside for?
I know he’s not in banking, but here’s some food for thought.
Starting a business takes time. I don't think you can possibly do both without compromising the other.
I don't want to get too into it, but I actually am working on a side business. It's still in the relatively early stages, but it's something I've put time in at night and on weekends.
One thing I'll say is that people get way too caught up in the idea of starting a "startup." It's important to realize that one can start a business without it being a typical "startup" the likes of which you read about on TechCrunch and other sites.
Instead, people should focus on their skills and interests and think about what they can realistically do. Then, figure out how to go about doing it. Finally, put in the work to make it happen.
Finally, make sure it's something you find interesting. If you're not truly interested in it, you'll likely not follow through on it and do the work you need to do. If you're going to spend your off-hours working on something, it's got to be fun on some level or it'll feel like more work and nothing else.
^Great advice.
Just to add...there is essentially zero chance I could've done it during my first two and a half years of banking. I was working more or less around the clock and letting off steam when I got out. I don't work hours even remotely that bad anymore, so it's a different story now.
Discretionary consumer product. I'll likely fill WSO in as I make more progress. I'm trying to get it off the ground within 6 months or so. It's time consuming, but relatively fun.
From my very limited experience, true entrepreneurship takes enormous dedication of time and resources. I just can't envision someone who's 22 (thus lacking real world experience and expertise) working 90-100 hour weeks will be able to take a genuine crack at it.
yeah my exboyfriend did it for 3 years out of college, and 2 years during college. he had no time at all for a relationship which is why he's my EXboyfriend but he still did it
i know a bunch of guys in IB who are running side start ups, and one guy who quit the job for it lol
I honestly don't see how anyone in IB would have the time for a side project or startup, especially a tech-centered one. You'd have to really bust your ass or be prepared to hire a lot of contractors.
Personally, I hate having a boss and want to run things someday, so barring advancement here I'll look to privately owned businesses at some point.
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