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Recently a top student in a local MBA program stopped by my office to talk about her career.
She has job offers to work with two large corporations.
One is offering her the opportunity to enter its management training program for two years - a
career track that will give her great visibility within the company and a significant position at the end of the experience.
Her dilemma is that she really wants to work with a small startup or emerging company. The pace
of change, the breadth of responsibilities, the dynamics of growing and adapting a new business to the market are all concepts
that are more appealing to her than working in a large corporation. Her question: "How do I recognize and find the opportunity?"
This process of helping someone find a position or make a contact is repeated almost daily. As I
reflected on this common problem, it occurred to me that the reason is the lack of structure. If you want to work for a large
company, you contact the company's human resource ("HR") department. The company will have a defined methodology on how candidates
enter the applicant pool, how the interviews take place and how the offer is made.
Entrepreneurial firms have no HR function, little or no hiring methodology and often do not know
how to structure a competitive offer for employment. This lack of structure is found in several other aspects of the emerging
company environment.
When looking for financing, an established business can walk into their bank, fill out a loan application
and negotiate the terms of the loan package. A new business has no assets and will most likely be given no audience in the structured
world of banking, leaving the entrepreneur to create the financing opportunity. Looking to individual investors, such as friends
and family or angels, is a much less organized way to acquire capital.
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