This content originally appeared on HackerNoon and was authored by Jon Stojan Media
\ \ The corporate world is often compared to a marathon - steady, structured, and predictable. In contrast, start-ups can feel like a series of sprints, full of direction changes. Transitioning from the structured environment of the corporate world to the dynamic fast-paced start-up ecosystem can be daunting but incredibly rewarding. It requires a shift in mindset, a willingness to step out of your comfort zone, and the courage to embrace uncertainty.
\ Gaby Haffner, currently the Head of Europe at Baret Scholars and former Founder of Ameli Health, has successfully navigated this transition. As a former Strategy Consultant and Investment Banker turned start-up founder. From her early roles at Bank of America Merrill Lynch to her time at Monitor Deloitte and EY, where she focused on tech and consumer companies, Gaby's experiences can offer lessons for aspiring entrepreneurs.
\ Here, Gaby shares five actionable insights from her transition from corporate to entrepreneurship.
Lesson 1: Focus on Execution Over Perfection
In start-ups, speed and execution often matter more than meticulous planning. "Real-world feedback provides insights no amount of theoretical planning can match," Gaby notes. This lesson became especially clear when she founded Ameli Health, a luxury prescription skincare platform. Gaby launched a proprietary platform that integrated doctor-patient matching with pharmacy supply chains in a remarkably short timeframe. She moved fast, gathered feedback, and pivoted based on real-time market reactions. This experience contrasted sharply with her corporate experience at EY and Monitor Deloitte, where processes were more structured and detailed. "A good idea is only as valuable as the ability to execute it," Gaby emphasizes. This ability of hers has also been crucial at Baret Scholars, where she is part of the founding team who are building a pioneering education company.
Lesson 2: Embrace Uncertainty
Entrepreneurship demands a strong appetite for risk. "In corporate environments, things are often predictable, but in the start-up world, you need to be comfortable with uncertainty", Gaby explains. This shift means learning to thrive in ambiguity. As a founder, you're responsible for everything, from product development to finances, often pushing you well beyond your comfort zone. During her time at Ameli Health, Gaby had to quickly become proficient in areas outside her expertise, such as digital marketing and product management. This adaptability has been invaluable at Baret Scholars, where she successfully leads the digital marketing efforts. Her advice: “Growth happens in the unknown”.
Lesson 3: Adopt a Growth Mindset
Unlike the scarcity-driven, zero-sum thinking that often dominates corporate environments, start-ups require a growth mindset - the belief that abilities can be developed through dedication and effort. "A growth mindset allows you to embrace challenges and setbacks as opportunities for learning and growth," Gaby emphasizes. Gaby honed this mindset during her time at Farfetch, where she worked on improving revenue strategies for high-end luxury fashion clients. These experiences translated directly into her role at Baret Scholars, where she continues to apply growth-oriented strategies to drive business development.
Lesson 4: Prepare for the Emotional Rollercoaster
"Entrepreneurship is an emotional rollercoaster," Gaby admits. "There are extreme highs and crushing lows. You need a high pain threshold and a deep passion for what you're building to push through the tough times". In corporate roles, setbacks are often cushioned by larger organizations, but in start-ups, every challenge can feel personal. Her experience founding Ameli Health taught Gaby the resilience needed to endure the ups and downs of entrepreneurship. This emotional resilience has been crucial to her role at Baret Scholars, where she manages the pressures of scaling a start-up.
Lesson 5: Constantly Seek Critique
In start-ups, mediocrity is not an option. "Whatever you create must be far superior to what's already out there," Gaby emphasizes. Constantly seeking feedback from trusted sources and iterating based on that critique is key to refining a high-value product or service. At Baret Scholars, Gaby implemented a fast feedback loop early on, speaking directly to customers to refine the program’s structure. This adaptability has allowed the company to evolve its offering and offer a truly innovative product. “Listening to the market and improving based on feedback has been essential to our growth,” she notes.
Gaby’s Thoughts on Entrepreneurship
Gaby believes that start-ups are society’s true source of innovation and disruption. As a mentor at MassChallenge and for Fitzwilliam College, University of Cambridge’s entrepreneurship competition, she dedicates her time to supporting early-stage start-ups.
This content originally appeared on HackerNoon and was authored by Jon Stojan Media
Jon Stojan Media | Sciencx (2024-10-03T19:34:34+00:00) Five Lessons for Transitioning From Corporate to Start-up with Gaby Haffner. Retrieved from https://www.scien.cx/2024/10/03/five-lessons-for-transitioning-from-corporate-to-start-up-with-gaby-haffner/
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