6 career options for ex-founders looking for their next adventure – TechCrunch
Hey, the founders come in concerts: What now?
If you left your last business for airplane money and are now independently wealthy, congratulations! If you want to start another business, self-finance. If you want outside capital, VCs will pursue you for investing.
Unfortunately, most founders are not in this position: nine out of 10 startups fail. Even if you get a high valuation, you might find yourself like FanDuelthe founders of: their investors benefited from an outflow of $ 465 million; the founders got zero.
As someone with “founder” on your resume, you face a greater challenge when trying to get a traditional salaried job. You’ve already shown that you really want to run a business and not just climb the ranks, which means some employers are less likely to hire you. A search paper find:
[F]Former founders receive fewer callbacks than non-founders; however, not all founders are equally disadvantaged. Former founders of successful companies receive Even less [emphasis added] reminders that the former founders of failed companies. Through 20 interviews with technical recruiters, we highlight the mechanisms that lead to this discount on the founder’s experience: concerns related to the ability and ability of the candidate to integrate and stay engaged in the salaried employment and the recruiting company.
In my previous firm, ff Venture Capital, we invested in a company co-founded by Nate jenkins, who had a successful outing, but not quite enough to buy a private plane. He is now looking for his next opportunity and is interviewing for some jobs. At the end of a recent interview, the interviewer summed up: “I’m going to hire you, but is that really what you want to do? “
That said, Samuel Sabin, CEO of RentalBlue, observed: “Some founders who work better with more resources at their disposal may be called upon for intrapreneurial roles. In addition, some companies value an entrepreneurial mentality.
So what should you do? Especially if your life partner and / or bank account is exhausted by the volatility of startup income?
I was in this situation myself when I shut down one startup and quit two others. I think you have six main options:
- Start a new business.
- Find a job.
- Angel investing, venture capital and mentoring.
- Sell information products.
- Education and personal development.
Start a new business
If you want to work on your startup idea, the bar for starting a business should always be very high. VCs have a diverse portfolio and most of their investments die. You don’t have a diversified portfolio and therefore take a lot more risk than VCs. For free resources to help you research your ideas, see Which startup are you going to build? Identify white spaces in the market.