Starting

Learning Entrepreneurial Skills On the Job: How to Start-up While Employed

Learning on the job

By Alexandra Cain
Thursday, 13 October 2011

When it comes to learning on the job, lessons aren’t confined to those who want to boost their chances of a promotion. Aspiring start-ups can also glean the skills they need to embark on the path to entrepreneurship.

Many budding entrepreneurs simultaneously juggle a day job with the demands of building a start-up.

Although this can be an incredibly pressured time, there are lots of entrepreneurial skills you can learn while in full-time employment.

But it’s important to manage this period of your life properly so you maintain a good relationship with your employer and while picking up skills that will stand you in good stead once you do shift to running your fledgling enterprise full-time.

The business puzzle

Alex Stuart is the chief taste officer of event and hospitality business Luxury Tastings.

She previously worked in luxury fragrances and managed Lotus bar in Sydney’s Potts Point district.

Stuart says how you go about acquiring entrepreneurial skills in your job depends on how management runs the business.

“Smart businesses will always nurture those who want to learn the pieces of the puzzles of business,” she says.

Luke Benjamin is in charge of strategy at Enrichme, a start-up website that educates women about money and finance.

Previously he had a stellar career in financial services, working around the world for big names such as MLC, ANZ and Deutsche Asset Management.

He advises start-ups to spend time while in paid employment becoming financially aware, learning interpersonal skills such as how to ask the right questions to get the information you need and how to actively listen to others.

“It’s also an opportunity to develop knowledge of your market, understanding every component of the value chain and building your networks,” he says.

“For me, having experience talking to clients, developing financial products, working in marketing and sales and managing a P/L was invaluable.”

Get strategic

Janine Garner, who founded Little Black Dress Group, which is a networking group for female entrepreneurs, as well as marketing consultancy Script by the Marketing Directors, says it’s critical to have a plan for your business before you jump ship.

She started her business this year after leaving her job as group marketing director for Oroton Group where she managed the iconic handbag label Oroton and luxury brand Ralph Lauren.

“You have to have a strategy and a plan before you leave because this will help you get results for your business quickly.”

“I worked with a business coach before I left my full-time role to help set myself up mentally. You also need to be prepared not to earn any money for at least six months,” Garner advises.

When it comes to developing entrepreneurial skills while working for someone else she says “try to take a leadership role in the business and be prepared to have an opinion; test and explore new things.”

In terms of the length of time it should take to pick up entrepreneurial skills, Stuart says, “the answer lies in the individual. But you will be more prepared if you get experience with both small and large businesses and see a couple of business cycles so you have an understanding of both good and bad times.”

Managing the relationship with your current employer when you’re working on a start-up is key.

Stuart says: “Don’t make your employer irate with your shameless start-up training; it's essential to be honest with your boss.”

“You're taking advantage of a situation if you are there under false pretence and lie about your intentions.”

“If they ask you where you see yourself in five years in the interview phase, don't lie and say ‘as the GM of this business’, if really you want to be in your own business.”

“Much better to say, ‘I see myself running my own venture after gaining a few more years in your industry, hopefully in your team’.”

“That way you're hired for who you are and what your vision is and chances are you will be nurtured accordingly.”

Making the move

Equally important is handling the departure when you are ready to work on your start-up full-time.

Luke Benjamin says managing this situation will depend on the individual.

“It depends on the business opportunity and the relationship you have with your employer,” he says.

“Some people might be able to get funding from their employer, who could become a key partner in the business.”

“Unless you’re going to be in direct competition with your employer, it’s better to be upfront about what you’re doing.”

It’s a sentiment with which Janine Allis, founder of Boost Juice, agrees.

“A few years ago a staff member told me she was a milliner on the side and one day wanted to work as a milliner full-time,” she says.

“The approach I took was ‘how can I help you?’ I gave her advice on her branding and website – during work hours.”

“But I wouldn’t be happy with a staff member in that situation using my resources.”

“If you’re being paid to do a job, you should do that job, but it doesn’t mean you can’t use your lunch break or weekends to work on your own business.”

Keeping your employer onside

Crowdsourced design business 99Designs’ COO and Australian GM, Jason Sew Hoy, says he is supportive of people working on their own business while being employed at 99designs – as long as it doesn’t impact their ability to do their job.

“From time to time, members of our staff work freelance for clients or on side projects like iPhone apps,” he says.

“But if someone feels their ability to do their job is being compromised it might be time to make the move to working on their own business full-time.”

Alexx Stuart says since she started her business back in 2005 outsourcing and social media have changed the game for start-ups.

“I love being social and putting time into connecting with followers and likers and those that I also follow and like,” she says.

“I also see it as extremely valuable as a mum business owner, who's had a couple of years out from actively contributing to my industry, to re-establish connections and see who's out there and what's going on.”

This increased workload of managing social media time has concurrently driven the trend for outsourcing.

Stuart says in a start-up “you’re the IT guy, the accounts person, the events manager, the office manager and the chief.”

“But you can’t do it all. So structure your enterprise so that it earns enough to outsource some aspects of the business, especially if it allows you to spend more time with prospects.”

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