Don't Be Afraid to Have Conviction and Trust in Your Own Ability

This discussion was originally going to be a reply to the following WSO post: "A Must Read For Current Undergrads And Interns (Your First Job Doesn't Matter)" but it ended up being much longer than I had anticipated and I felt it deserved a separate discussion. (I tried linking this post but WSO didn't allow)

Intro

I came across the most valuable post I have found on WSO (the one linked above) and have decided to share my perspective hoping it will prevent others from falling into this same trap that takes a serious toll on your health. Here is the part of the post I felt I needed to respond to:

Look at the founders of the firms that many on the platform idealize--KKRGS, MS. None of them listened to people on the internet or group think--they all thought independently. There are deeply held opinions on this website that if you listen to, you will become like everyone on this website. 

The truth of this statement cannot be understated. Look at the most "successful" (by WSO's monetary standards) people in the world. None of them got to where they are with the primary purpose of making money, but all of them realized great financial success because they dedicated themselves to providing an innovative solution to a problem which they truly believed in and that brought real value to the world. Case in point: Warren Buffett (arguably the greatest investor of all time) still lives in the same 300K house in Omaha that he bought back in '58 - hell all of these guys really look no different than they did when they first started (except maybe jacked Bezos vs nerdy Bezos).

Lessons From 2021 And The Pandemic

In 2021, the pandemic forced me to step back from my tunnel-vision worldview that I think many college students with high aspirations such as myself get stuck in. 

I began to question why I was trying to set myself on the traditional track of IB -> PE and whether that was really what I wanted to do with my life. If I am never willing to take a chance on myself at some point in my life, I feel I will ultimately end up with a deep feeling of regret on what could have been.

This is not to say that I don't recognize the importance of well-defined and well-paying career paths like IB (and now PE) as I understand the incredible value and financial stability they can bring to the lives of recent college grads. However, I urge people to question what the real reason is they are pursuing this career out of undergrad and ensure that it is for the right reasons-whatever that means to YOU. 

Don't let anyone else tell you what is best for you (although you should always be learning from the perspectives of others) or what you can or cannot do. So many posts on WSO deride anyone considering pursuing entrepreneurship and I honestly find it ridiculous. Yes, the vast majority of startups fail but none of the largest companies in the world would exist if someone wasn't willing to take that risk so if you truly believe in your idea and ability, don't be afraid to pursue it out of fear of failure. If you are a motivated individual (like most people considering a career in banking are), a failed venture does not mean that you yourself are a failure-most successful entrepreneurs don't get it right on the first try, but the beauty lies in the improvements and adjustments you make throughout that process. Also, for those of you bashing entrepreneurship, just because you may be risk-averse doesn't mean you should actively discourage people from innovation.

Looking Forward

I myself am still uncertain as to whether I am going to pursue entrepreneurship or finance out of undergrad, but with a renewed confidence in my own ability, I am comfortable with wherever my career/life journey takes me. However, I do know that at some point in my life I would like to start my own venture and there is arguably no better time for entrepreneurship than when you are young (there really never is a "good" time to start a company).

All this being said, my biggest takeaway from 2021 is that I have become comfortable with being uncomfortable and uncertain. I still recognize that I don't actually know jack shit at my age but I'm willing to admit that and use that naivety to my advantage.

TLDR: The truly great and successful people in the world did not have traditional career paths. They all lived by their own principles and aimed to provide the world with real value even if that meant risking everything. Someone is going to lead the next stage of massive innovation in finance (and elsewhere), someone is going to create the industry's next frontier, the next PE, why can't it be you?

 
Funniest

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