An article by Professor William Sahlman discovered a new pattern in the future wishes of Harvard business students. In the past they wanted to pursue careers on Wall Street or at one of the leading consulting firms, now they want, upon graduation, to be net-entrepreneurs or to work closely with them in the new industry.
Approximately 40% of the graduates of the '99 generation emerged in the labor field, not looking for comfortable chairs in consulting firms or the stress of the Dow Jones, but making their way in the jungle of the internet with new companies or working in specialized investment firms in the new market. This trend is not normal, that's new, why would a Harvard business graduate want to take a risk if he is in the mood for Head Hunters and big business?
One of the reasons is that the risk of companies in the new e-business is not the same as that of a traditional company, it is true, there is much more risk of failing with an e-company, but it is also true that the rewards by taking risks they are by far more generous. Furthermore, the stimulus created in the minds of potential entrepreneurs is very strong because they have witnessed the successful birth of numerous dot-com companies.
Another factor that moves new e-entrepreneurs to take risks is the new assessment made of them, the word entrepreneur is no longer associated with "the dreamer who spends his life trying to build small businesses that will very likely fail, due to not having gotten a job in a big company and with a big desk »but rather it means"Person with strong conviction in himself, in his capacities and in his ideas, who is capable of transforming them into realities and betting on them with all his strength to take them forward and turn them into successful companies". In other words, entrepreneurs are viewed with respect, they are no longer disdained and an experience as a company builder weighs as much or more on the resume than experience as an employee in a firm.
The emergence of venture capitalAs the main promoter of Internet initiatives, it constitutes another factor that affects the rise of new e-businesses. The difference lies mainly in the fact that in the traditional economy SMEs have to be financed initially with loans from banks (although sometimes with contributions and support from the state or from corporations created for this purpose), whose costs are very high for companies that are just starting to fight for a position in the market. These costs lead, on many occasions, to the bankruptcy of new companies and to the disappointment of entrepreneurs. In the new e-economy things work differently, the venture capitalist does not charge interest,invest in the projects that you consider will be successful and after a period of time you exit (selling your participation or making a public offer of shares, etc.) and earning higher income than you would receive for interest.
Various factors, different from the above, can be considered that drive people to make their way into the world of work through companies in the new e-economy, including: saturation of companies and business models in the traditional economy, greater human resource training, high unemployment rates in the old economy,… there is also a basic component of this behavior: the high capacity for innovation that can be achieved in the new e-economy, this factor affects the personal fulfillment of individuals Which is, after all, what we all seek through our activities.
The gratification of knowing that what you really want is being done allows you to struggle daily to achieve success.
There are netprendedores of all characteristics, not only are they young jean and tennis, there are also middle-aged, with enormous experience in traditional companies and who have had the vision and the impetus to start the path of a successful dot com. An example of this type of entrepreneur is the Spanish Valentín Pérez de Heredia (mediamerca.com) who has been an economic advisor to the presidency of Spain, a director of the World Bank and of multinational firms in his country. He launched into the internet world betting on three projects, mediamerca.com, campusred.com and mercafinanzas.com in association with Telefónica de España. As an entrepreneur, he appeared in the Start Up 2000 business plans contest with the mediamerca.com project and won first place,It has invested its own resources and is in the early stages of venture capital with a new and productive business model in the medium term.
Another example of someone who gave up a successful career is Kaleil Isaza, a young Colombian who received several million dollars (about 60) for his company govworks.com, valued at the time at $ 300 million and who later failed miserably. Isaza worked as an investment banker at Goldman Sachs for 5 years and initially wagered on his dot-com with $ 200,000 that he saved during his tenure as an investment banker.
As you can see there are several examples of people who have changed the calm and smooth way of life of a job, to enter a world in which the risks are as great as the rewards, if successful. Taking the risks knowing that stability is left behind and the possibility of living quietly is not everything, if you want to be a successful entrepreneur you must be disciplined and aware that the abyss can be two or three steps away, but you can also be at that distance from glory.
A sample button: About 40% of '99 Harvard Business School graduates became e-entrepreneurs.
Bibliography
1. WA Sahlman, "The New Economy Is Stronger Than You Think" Harvard Business. Review, November-December 1999, pp. 99-107
