Advising Entrepreneurial Students

Case studies of Portfolio Careers of Entrepreneurs

These case studies, based on people who graduated 15-20 years ago, illustrate the ways that entrepreneurial people often have careers that mix employment with running independent businesses, sometimes simultaneously.

The first three cases illustrate careers in which people move around between types of job role and organisation.

The last two also illustrate the need to strike a balance between work and family as the graduate takes on more responsibilities.

Case Study 1: Too entrepreneurial for the corporation

Career path: employee; intrapreneur; entrepreneur

Steve went straight into the RAF after graduating, and had some very demanding and exciting roles which took him all over the world.

He then joined the Marketing Department of a large business, where he quickly made a mark. He was good at spotting ‘deals’ and initiating new ways of working – eg investing in partnerships with local small businesses. He loved networking in the community of entrepreneurs outside the corporation, and eventually left to set up his own small business. It was a good move, as he was increasingly looking too entrepreneurial for the corporation.

Comment: Steve was very entrepreneurial by nature and used the RAF to give him exciting challenges. He then used the large corporation to learn about a specific business sector and build his networks, in order to eventually go out on his own.

Good advice to this sort of person would probably be to use their 20’s to do some exciting things and see where it takes them.

Case Study 2: A thoughtful intrapreneur.

Career path: employee; intrapreneur; employee

Mike was very successful at University and went on to do an excellent PhD. He left and joined a large corporation which was impressed by his PhD findings. His keen mind, dedication to getting things done and easy confidence in dealing with problems was much valued.

In his late 30’s he was given the opportunity to lead one of the several new ventures set up by the corporation to exploit new ideas that didn’t fit into the core business. It was fairly successful, and he really enjoyed the challenge, but he found the corporate culture and corporate systems constrained the things he could do.

He eventually came back into the mainstream and rose to a respectable management level. Later he did a very thoughtful MBA dissertation on the factors influencing the success or failure of corporate spin-out ventures.

Comment: Mike turned out in the end to be more enterprising than entrepreneurial. He enjoyed the new venture challenge, but moved gratefully back into a more traditional career path in the end.

Good advice to this person would probably be to recognise that they can carve out a very satisfying career in the right sort of corporate environment - one that will fully recognise their capabilities and play to their strengths.

Case Study 3: A well-advised entrepreneur.

Career path: employee; entrepreneur; intrapreneur; entrepreneur next?

On leaving university with a business studies degree, Jane applied to several big corporations, as did many of her friends. She received an offer from one, but was not comfortable with the thought of being moulded into the corporate culture. One interviewer suggested that she should join a media sales organisation which would suit her outgoing personality better. She did so and, after working for two of them she set up her own very successful media sales business with a colleague.

A second media venture failed, and now she is International Sales Manager for yet another media business. She is already plotting her next business idea.

Comment: Jane received some excellent advice, but not from her Careers Adviser or her parents; this emphasises the need to consult a range of sources. Fortunately she recognised the value of the interviewer's advice, and the selling skills she developed in her first two jobs set her up for a career which mixes entrepreneurship with intrapreneurship. The failure of the second media business put a lot of pressure on her finances, so a period of employment is necessary to stabilise things. She will probably never settle long in one job or organisation, but each one will build on the previous one.

Case Study 4: A simultaneous portfolio.

Career path: entrepreneur; then intrapreneur/employee/entrepreneur

On leaving university with a physics degree, David decided that he wanted to stay in the city in which his University was located and set up a retail business selling products based on his main hobby - in which he had reached a high standard and had national reputation. He was assisted and supported by the Graduate Enterprise scheme.

During this time he also did part-time work in Graduate Enterprise as a mentor, and then running some workshops. He enjoyed this so much that he sold his retail premises and runs his business by e-commerce, allowing him time to do a lot more business advisory work. He took the lead in, and transformed, a University-based business training project, and also has a part time job as Chief Executive of his trade body.

Comment: David's initial business was probably mainly ' lifestyle' but he has gradually developed his abilities to be truly entrepreneurial both inside and outside organisations. He is unlikely to ever settle into a full-time employee role but enjoys the flexibility of combining several roles. Recently married, and with a young child, he now has to ensure that this flexible approach can also deliver a reliable income.