Looking back, I think the biggest personal shift for me thus far will be making the transition from entrepreneurship to a ‘full-time’ job. And I feel that it is a worthy story to share as I have learnt several things in the process. I have divided this piece into 3 parts— going from my startup journey, to getting a ‘full-time’ job, to providing some concluding thoughts. At the end of every part, I pen down some of my personal takeaways.
- Part 1: The Startup
- Part 2: The ‘Full-Time’ Job
- Part 3: The Conclusion
Part 1: The Startup
Back in August 2017, together with another close friend of mine, we started Flicc. It was really quite exciting at that time, and I confess there was a bit of hubris that I felt where we kind of joined that exclusive ‘student startup’ club.
But, it wasn’t easy. The days and nights spent poring over pitch decks, roadmaps, and timelines still resonate very clearly in my memory. Or debating till 6am, only to grab a few hours of sleep before spending my 3-year anniversary date with my girlfriend. Or sketching on napkins over beer at a crowded bar when discussing our product concept. The list goes on.
These occasions are worth reminiscing about, but what stood out were also the stress and the hardships that came along with it. I remember we pitched Flicc at various occasions (NUS, Startup SG, …) , and got rejected almost every single time. Even though I was increasingly confident as we attained greater traction & market validation (our early adopters were telling us that we were creating something useful), we were not really making progress in terms of our quest for grants and funds. And, we had invested a portion of our savings into this venture. So that was a nagging consideration- why are we not getting support for our idea? Is it something that will not work, or has limited potential? Or, maybe, was my pitch not persuasive enough? Oh, maybe it is because I did not go into greater detail about TAM and the proper projections…
Overall, the challenge of creating a sustainable business model for Flicc was a thorn in our flesh. There was a lot of talk about how we are going to get revenues. And we had a several ideas, from merchant advertising to even intermediary services like logistics. With a focus on the former, I sent numerous cold emails and Facebook messages to merchants to hopefully arouse their interest, went to meet some of them face to face, and put our value proposition on the table. While we managed to onboard a handful of them, I guess it still wasn’t convincing enough. Neither was the process particularly scalable. Therefore, we did not manage to solve that challenge.
I believe that I picked up some key learning points from this experience.
- Don’t seek perfection. Fail fast, and learn fast. I think we were guilty perfectionists, and stuck on finding the ‘right’ solution. There’s no right. Just things that people (i.e. your customers) like.
- Don’t lose hope. Even while we faced numerous rejections, I told myself to keep trying, refining, and getting better. Your first instinct should not be to blame others for not ‘seeing the value in your ideas’, but on how you can improve and make them see what you see. And, while you might feel alone in this fight, there are actually willing mentors out there who want to see you succeed. One particular mentor that actually worked with us (an early-stage, pre-revenue company) was TRIVE. Chris and his team interacted closely with us, provided valuable advice, and relentlessly pushed us on — to which I am immensely grateful till this day. I think first-time founders like us back then needed support and a fair bit of guidance, and for TRIVE to be willing to do it (kind of on a pro-bono basis via their network of mentors) is something genuinely heartwarming.
- Don’t be afraid to kill an idea and move on. Don’t be overly committed to an idea. Of course, we find solutions to problems — but if these constraints cannot be solved, they need to be managed and coped with. And if coping with them presents more unproductive roadblocks along the way, then maybe the opportunity cost of giving up this idea will be outweighed by the value generated via another more productive idea. Go listen to ‘How to kill your bad ideas w/ Zynga’s Mark Pincus’ (one of the episodes on Reid Hoffman’s podcast Masters of Scale) — it provides more insights pertaining to this. I learnt the importance of keeping an open mind; and considering the value of other proposals that came my way.
In lieu of the challenge of creating a cogent business model, and the realisation that this idea may not be the most scalable one vis-a-vis the crowded marketplace landscape, we stopped working on Flicc — and decided to move on from this (note that our Telegram barter trading groups are still active!).
It was tough for me given my emotional investment in the business — it was a dash of practicality (the adulting concerns of getting one’s finances in order, ameliorating one’s parents’ persistent concerns of getting into something ‘stable’) mixed with an intangible sense that there remains much more to learn out there. I made a decision to move on to a ‘full-time’ job.
In a Singaporean context, often times millennials think about the narrative of a homogenised, mapped out career path (study, graduate, get a job, get married, have kids, retire…)— and deem that to be unsatisfactory. My opinion is that whether that is satisfactory or not ultimately lies in your priorities and objectives. To me, having a ‘full-time’ job is perfectly alright; and I think that being on both sides of the table (building your own business & helping to build someone else’s business) has given me a slightly clearer perspective on this issue.
Part 2: The ‘Full-Time’ Job
There are individuals who crave entrepreneurship as a form of ‘escape’ from an unpleasant boss, the dreariness of a 9am to 6pm job, and the slog of work. By all means — start your own business, and get right into it. But make no mistake as there will be no escape from the challenges that come attached with each choice. While the grass always seems greener on the other side, be aware that there are still challenges to deal with in one way or another (like what I mentioned in Part 1). Having the mindset to ‘break free’ of the chains of a ‘full-time’ job is not going to liberate you — in fact, you may even regret your choice if you haven’t given it enough thought and acted on impulse.
So far in this piece, I put ‘full-time’ in inverted commas because I think it is quite a misunderstood concept especially in Singapore. The homogenised career roadmap is often vilified as a trap — something that unthinking, soulless individuals will gravitate toward. But that is incorrect. Long gone is the era of bureaucratic organisations (largely) that only work via a top-down hierarchy. We hear buzzwords such as ‘agile’, ‘flat’ and ‘culture’. Change is the only constant, and various companies are seeking to rapidly adapt to the evolving demands of employees today. And, full-time is not exactly full-time. You get to enjoy after-work hours in a full-time job, something that is rarely possible as a committed entrepreneur. Your business consumes you 24–7 — that’s the true definition of full-time.
I think helping to build someone else’s business as an employee provides equally rich insights as when you are building your own business. There is always an opportunity to learn everyday with a team, you feel frustrated sometimes with process, you believe things can be done better in some ways, and you often reflect upon your circumstances (maybe that’s just me hahaha). Still, these are lessons that you take away; and that helps to shape your vision of culture, what setting you thrive best in, and what makes you tick. In a sense, it does accelerate the process of maturing professionally (that is also predicated on the type of environment you are in).
Taking on a full-time job, then, is a unique experience in itself. You could be working at another startup or a larger organisation — it depends on what you are looking out for. But the bottomline is, I think there is always something to learn every single day, and what you make out of it is heavily dependent on your mindset.
I took on the role of a full-time UI/UX designer about a month after we stopped working on Flicc. I brought with me my expectations and experiences; and had them tried and tested in the environment I was in. I saw certain gaps and opportunities, and gradually developed some perspectives relevant to the field that I’m operating in. But that’s an article for another day!
My learning journey continues. And I present the following learning points from this part of my story:
- It’s okay to patiently grow and learn in the most organic way possible. To that, I recommend reading a few Medium articles by JotForm founder Aytekin Tank . He proposes a different approach to entrepreneurship altogether — slow but steady and sustainable growth, building up a solid base, and scaling at a comfortable pace. Forget the hypergrowth curve often championed by modern startups, and focus on creating something useful that may take you a longer time. Taking on a full-time job first allows you to accumulate your savings, learn every single day, pick up & practice your skills, and have a side hustle to gradually build your idea. Contrast that to the crazy bootstrapping and ramen nights by founders who throw themselves into building something. These are 2 radically different approaches — and frankly there is no right or wrong — but I do see value in the slow & steady methodology. Like what Jack Ma said,
“when you are 20 to 30 years old, you should follow a good boss [and] join a good company to learn how to do things properly…when you are 30 to 40 years old, if you want to do something yourself, just do it. You still can afford to lose, to fail.”
Peter Thiel also mentioned in his book Zero To One that it actually makes more sense to be part of a valuable company and claim a slice of that existing value; than create that value yourself (owning 100% of a company is not useful if there is no value to it). Still, if you are prepared to take the risk and believe in the problem you seek to solve, go for it. Take your time. And focus on authentic value creation.
2. It is okay to say that you have failed. For example, when I interviewed at various companies, my startup experience invariably pops up in our conversation. If you are making a similar transition, there is no need to feel embarrassed about your experiences, or your shortcomings. It is good to show that you have reflected and pondered about the decision to stop working a certain idea, and what are some of the honest reasons that led to that. Of course, it depends on individual contexts & circumstances — but for me, I was able to be candid about my experiences.
3. A full-time job does not necessarily equate to desk-binding and infinite boredom. I think that is a general stereotype, as that depends on the culture you work in. You can be part of a high-impact, high growth team and find infinite meaning in what you do. Some companies practice “intrapreneurship”. I recognise that variances do exist across a spectrum, but let’s be open-minded and be aware that a range of exciting opportunities exist out there today— we can always explore and evaluate these options. Know your priorities and what you want. Go after them!
Part 3: The Conclusion
It has been a wild ride over this past year or so, coping with school and entrepreneurship, graduating, meeting different people, getting a full-time job, and writing this reflection piece.
Occasionally, I get asked if I have had any regrets trodding the path that I have carved out for myself, not choosing to study one more year to claim my Honours degree, starting a business that didn’t really work out the way I wanted…and so on.
My answer is no. To me, life is all about creating your own opportunities, trying things that you otherwise wouldn’t, and essentially as what they say, living it to the fullest. There is no “norm”, but only what you want to get out of every second of every waking day. I do things that I believe adds value to who I am, the people around me, and the world I live in.
In fact, if I hadn’t gone through these experiences, I may have regretted it even more. Who knows? Let’s not dwell on hindsight, and look forward into the future.
Understand your objectives. Focus on a purpose. Know your value. Yes, they may change and evolve — but remember that your value is a function of who you make yourself out to be. Your value will only increase with time, so be patient.
I believe that everyone is special with a unique story to tell. I believe we are ready to navigate the uncertainties of life with just a bit more certainty. Remember, you aren’t alone. And remember that life is short. Go for it!
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