Finance vs. Entrepreneurship

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http://www.evisors.com/webinars/webinar/60



Gecko vs. ZuckerbergDeciding between finance and entrepreneurship

featuring:

Michael SimpsonCo-Founder

Caitlin QuanEvisors Marketing & Operations Associate

Hosted by:





Agenda

1. Intro

2. Investment banking

3. Startups

4. How to get into startups

5. Q&A





Why Michael is qualified

Education Professional





What you will get out of this presentation

• Learn the differences between finance and startups (compensation, lifestyle, career trajectory etc.)

• Gain an unfair advantage in the startup recruitment process

• Learn how to leverage a finance background in recruiting for startups





DJZ overview

Investors





Agenda

1. Intro


3. Startups


5. Q&A





I-Banking: Pros and cons

× Hours

× Ability to plan life outside of work

× Incomprehension to R.O.W.

× Increasingly un-hireable

× Frequent monotony

Learning (caveat)

$$ during

$$$$$ after

“Hard Work” vs. rest of world

Ego boost for some

Pros Cons





Agenda

1. Intro


3. Startups


5. Q&A





Startups: Pros and cons

× Most startups fail

× Emotional rollercoaster

× Company trajectory is highly unpredictable

× Clock is never off

Emotional investment, “real” factor

Satisfaction

Significant potential upside

Thought-base

Vibrant and open community

Massive potential for contribution

Pros Cons





Emotional rollercoasterCredit: Mark Suster





Startup myths debunked Being an entrepreneur means “working for yourself” and “not having a boss”

Founding a tech company is a sure path to becoming a billionaire

You have to code to found / work in a startup

A startup is “risky” so you shouldn’t start / join one

Doing a startup means living on a shoestring and eating ramen noodles

Business school will prepare you for a startup / you will meet your co-founder at business school

You should found / work for a startup because it is “cool” or “sexy”

You should work for a startup in order to escape the 9-5

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So….which to choose?

VS.




Agenda

1. Intro


3. Startups


5. Q&A




Startups: Entry points

Join a seed or pre-funding startup

Join a later stage startup

Start a company

Venture Capital




How to get a job at a startup

1. ***IMPORTANT*** Define, as precisely as possible, what you want from the role, and what you would like to do after the role

2. Create a list of potential companies

3. Contact each one using tailored communication (e.g. Foursquare, Ridejoy). Focus on:1. Why you are passionate about the space2. Insights and ideas for their business3. What you can bring to the table

4. Interview with companies




Startup recruiting vs. finance recruiting

Timing

Organisation

Importance of persistence

Importance of passion

Necessity to be proactive in defining a role




Moving from Finance Startups

“perfect is the enemy of the good”

Relative importance of data in financial modelling

Financial modelling

Analytical work

Ability to work very hard

Anything investor-related

Internal M&A / corporate actions

Budgeting / internal finance

Why finance is an asset Why finance is a handicap




Resources to learn more Blogs (Fred Wilson, Paul Graham, Brad Feld)

Startup / Tech News (Techcrunch, mashable, Allthingsd)

Startup methodology (Eric Reis, Steve Blank, David Cohen)




Connect

Michael SimpsonCo-Founder of

Book your one-on-one session with Michael at

www.evisors.com/expert/1619


http://www.evisors.com/expert/1619



Agenda

1. Intro

2. Investment banking: Pros and cons

3. Startups: Pros and cons


5. Q&A




Questions & Answers




Questions & Answers

Question 1:

What was most useful in differing your finance pitch from others?

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Questions & Answers

Question 2:

What is your advice for post-MBA students: Go into finance for a few years or jump into entrepreneurship?




Questions & Answers

Question 3:

How can someone use their entrepreneurial skills within in the finance field?




Questions & Answers

Question 4:

If my goal is to be an entrepreneur, how would a consulting job benefit or hurt this career path?




Questions & Answers

Question 5:

In seeking venture capital with a business plan, how many exit strategies should I offer?




Questions & Answers

Question 6:

Do you have any recommended resources for those looking for startup/venture capital jobs?




Questions & Answers

Question 7:

What were some of the main challenges/key lessons in transitioning from finance to entrepreneurship?




Questions & Answers

Question 8:

If you could modify your career path, what decisions would you change?




Finance vs. Entrepreneurship

Career

Transcript of Finance vs. Entrepreneurship