Give up on IB for starting my own business?

If your ultimate goal is entrepreneurial success, here's what you need to consider based on the most helpful WSO content:

1. Optimizing for Startup Success

• Consulting vs. IB for Entrepreneurs: Consulting, especially at MBB or T1 firms, tends to provide a broader skill set and exposure to strategic thinking, which can be invaluable for starting your own business. Consulting engagements often involve solving diverse business problems, which can help you develop a "general management" toolkit. This is particularly useful for entrepreneurs who need to wear multiple hats.
• C-Suite Exposure: Consulting offers more direct interaction with C-Suite executives across various industries, which can help you build a network and understand how businesses operate at the highest level. This exposure is less common in IB, where the focus is more on financial transactions.
• Work-Life Balance: Consulting generally offers a slightly better work-life balance compared to IB, which could give you more time to explore entrepreneurial ideas on the side.

2. IB vs. Consulting for Your Goals

• IB Pros: If you’re considering a path through VC or PE before entrepreneurship, IB can be a strong foundation. However, as noted in WSO threads, IB is more competitive, has grueling hours, and is less conducive to entrepreneurial ventures unless you’re targeting finance-heavy startups.
• Consulting Pros: Consulting is often seen as more conducive to entrepreneurship, especially for non-target graduates. Certain MBB/T1 firms are known to have strong VC pipelines, and the skills you gain in consulting are more transferable to running a business.

3. Your Background and Risk Assessment

• Non-Target Graduate: Breaking into IB from a non-target school without internships is extremely challenging. While it’s not impossible, it would require an extraordinary amount of effort and networking. Consulting, on the other hand, might be a more realistic and achievable goal given your background.
• Risk of IB Becoming the End: As you mentioned, there’s a risk that pursuing IB could turn into an end in itself, especially given the demanding nature of the industry. If your heart is set on entrepreneurship, consulting might align better with your long-term goals.

4. Advice for This Cycle

• Focus on Consulting: Given your entrepreneurial aspirations, consulting seems like the better fit. It offers a more realistic entry point, a broader skill set, and better alignment with your goals.
• Networking and Applications: Start networking aggressively with alumni and professionals in consulting. Tailor your applications to highlight your entrepreneurial ambitions and how consulting can help you achieve them.

5. General Entrepreneurial Advice

• Start Small: Consider starting a side hustle or small business while working in consulting. This will give you hands-on experience and help you validate your ideas.
• Leverage Your Network: Use the connections you build in consulting to find mentors, investors, and potential co-founders.
• Learn from Others: Study the paths of successful entrepreneurs who came from consulting backgrounds. Many have leveraged their consulting experience to identify market gaps and build successful businesses.

Final Thoughts:

If your goal is to optimize for entrepreneurial success, going all-in on consulting for this cycle seems like the smarter move. It aligns better with your background, offers a more achievable path, and provides the skills and network you’ll need to succeed as a founder.

Sources: https://www.wallstreetoasis.com/forums/qa-consulting-pe-early-stage-startup-b-school?customgpt=1, If You're Stuck Choosing b/w Consulting and Banking, DO BANKING, Start up = Career suicide? Want to get into IBD. Need advice and mentorship., I've had more luck with entrepreneurship than with career: advice desperately needed, https://www.wallstreetoasis.com/forum/investment-banking/not-sure-if-investment-banking-is-for-me-anymore?customgpt=1