Embrace the Transition from Student-Founder to Employee
As many of you know, I enjoy a great observation post at the Harvard Business School and also at MIT.
From this vantage point I have observed over the last six months that there seems to be an uptick in the number of startups being formed at colleges, business and other graduate schools by student-founders. My initial reaction to this trend is that it must be easier than ever to form a startup and produce a “product” by leveraging large language models and generative AI, such as ChatGPT.
(In a separate blog post I will address the issue of whether these “products” are features, solutions, applications, or simple enhancements.)
With academic obligations and graduations now behind them, “student-founders” will find that they now have substantially more time to pour into the full-time job of building a successful startup. With this in mind, I thought it might be helpful to share some thoughts about navigating the psychological shift from student-founder to “employee” – even if you are not (yet) drawing a salary:
Get ready for the rollercoaster ride. To put it simply, business-life is different from student-life. (For those of you who graduated years ago, remember this adjustment.) Expect the ride, and don’t get too high or too low with the wins and losses (yes there will be both)
Know that at some point you will feel a sense of loss that you are no longer in school. Don’t translate this into a self-diagnosed trauma; embrace the thought or feelings and move on. The academic experience and environment is special, but the next chapter offers many benefits as well.
Brace yourself for exciting challenges that will test your skills and push you to new heights. Interpersonal – sometimes and especially management – communications are challenging. The role of the founder requires many hats to be worn, even though they all may not be in your sweet-spot, do the work and consider it as “continuing education” because it is.
There may be a few stressful moments, but remember that growth often comes from overcoming obstacles. Take the time to think through your response(s).
Embrace the opportunity to learn from others and expand your knowledge in unexpected ways. Be receptive to different perspectives and ideas, as they can broaden your understanding and help you grow.
Say goodbye to making all the decisions alone and accept that teamwork will be a standard part of your business life.
Seek out friends, family and others who can guide you through this transition and had “real world” experience. Pick your mentors – long-term personal advisors who can speak the truth to you directly – very carefully and take your time forging these relationships. Undoubtedly, these are people who have faced similar challenges, and learning from their experiences is invaluable.
Shift your perspective and discover the joy of contributing to a larger vision as part of a team.
Find a work-life balance setting priorities regularly and carefully structuring your daily schedule. If you don’t take care of yourself no one will. (I should have followed this advice.) Work hard but don’t do it at a cost to your physical, emotional and mental health.
Remember, this transition is just another exciting chapter in your entrepreneurial journey. Enjoy the rollercoaster ride!
The psychological shift for student-founders to employee also applies to those who have graduated years ago. In truth, transitions for all of us can be exhilarating, challenging and even traumatic, but embrace them as much as possible as they hold the potential for a life-time of learning and personal growth.