Should Everyone Become An Entrepreneur?

Do I have what it takes? It‘s the universal question every (to be) entrepreneur asks before taking the big leap. As usual, it‘s easy in hindsight. Yana and Tom discuss their own fears and thoughts, on which elements they judge, whether setting out on your entrepreneurial journey is a natural or even a brave decision. Hit us with your questions.  

Show Notes:

• [01:13] We talk about being an entrepreneur within the corporate world. It’s a good idea from a cultural perspective, but workers are limited because of admin, budget, and policy. The corporate constraints make it difficult. Entrepreneurs need direct access to their results.

• [05:32] Yana uses an example from the diamond industry. Too many departments and committees make you feel like you don’t own anything or have significant impact. You have to have lots of patience to be entrepreneurial within a big corporate setting. 

• [07:01] Tom shares how to test your idea by creating a spin-off and bringing it to the board or executives and see if they are willing to invest. 

• [08:10] We discuss whether everyone can really be an entrepreneur. 

• [09:46] Our world is more entrepreneurial because when people are willing to take risks and chase their dreams, they become more productive.

• [10:27] People can be so uncomfortable with risk or uncertainty. It’s not a good experience if they can’t become stronger out of it. 

• [11:19] Entrepreneurship should be defined as people willing to take risks and go for it.

• [12:09] When Yana worked at Amazon, she was supposed to think outside of the box, think big, and try things. Amazon innovates from within and has been able to create amazing results. 

• [13:25] Tom had a similar experience with UBS. They were supposed to formulate their BHAGs or big hairy audacious goals. 

• [14:33] As fear became more dominant, the need to avoid risk and not make mistakes became more dominant. 

• [15:11] The internal culture shifted in one to two years.

• [15:44] The idea of compliance does not mean avoiding risk. Compliance doesn’t get any rewards when things go right, but they get blamed when things go wrong.

• [16:51] Agile should be used for risk management the same way it’s used for software development. 

• [19:07] We should ban the word key risk indicator, because as long as it’s only indicating risk it’s not taking care of business. 

• [19:18] Being entrepreneurial within a big corporation is like learning to ride a bike with your training wheels. You’ll be a lot more proud if you make it without the training wheels.

• [20:04] Yana doesn’t believe that entrepreneurship and corporations can exist together.

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