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Thursday, April 9, 2009

What is Corporatepreneurship

This blog has been going for about three months now... Figured it be a good time to reflect a bit on "Corporatepreneurship" and why we started this blog. We got the term "Corporatepreneur" by adding "corporate" and "entrepreneur." We all work at a very large, Fortune 50 company as our "day job" and are or aspire to be entrepreneurs at all other times.

So why are we both? Speaking for myself, there's a few reasons... From the corporation side, I don't know enough about entrepreneurship to make enough money to do it full time. I get a nice steady paycheck from my current job. I enjoy the camaraderie with my co-workers. I'm scared to leave my job to be an entrepreneur. All the role models, education, and messages I ever got was for the corporate world.

The fun part is from the entrepreneur side. Why? I'll never live up to my potential in the corporate world. I can make a much bigger difference as an entrepreneur. There are so many ideas I want to try that the corporate world will never try. I believe my strengths fit an entrepreneur very well. I can make a lot more money and reach my dreams as an entrepreneur.

There's a lot of unique pros and cons to this double life. Pros: You don't hafta worry about putting food on the table and paying the bills. You can learn a lot in the corporate world that you can reapply to the entrepreneur world. You can fund your own ventures.

Cons: By the time you get home from your 9-5, you're tired and all you feel like doing is sitting down and watching TV. Sometimes you hafta work longer hours and run out of time at night. You can't do any ventures that require you to be available during the day. You can't sink all of your passion into your venture because you've got a day job to worry about that's first priority. Your employer may get paranoid about you doing something on the side.

We've come up with a bunch of ways to live this double life. SEEFADs make you take time out to work on your stuff and allow you to feel the life of being a entrepreneur. We try to find business models that don't require constant involvement. I'm looking to take a personal leave of abscence, which kinda gives me the best of both worlds.

Hopefully this blog will touch people out there in the corporate world who've always had the itch, and show them that it is possible. We've also gotten great contributions from people who've done it and can share experiences. And maybe I'll be in the position where I'll hafta think up a new name for this blog someday...



Brad Allmendinger said...

You guys have inspired me to do a SEEFAD on Monday. I'm hoping it will inspire me enough to let me consider building my own websites as a main source of income. I'll post my results on my blog afterward, but I'll try to come back here and let you know how it went.

Tom said...

Brad - Awesome, SEEFAD is catching on! I used my day of today (Good Friday) to SEEFAD! Please give us an update on Monday.

Dale said...

Brad - Let us know where you decide to go and what works/doesn't work. Always looking for ideas!

Brad Allmendinger said...

Well, it didn't go quite as I planned, but I accomplished some things and learned some lessons that I otherwise wouldn't have. So, even though it wasn't perfect I would have to call it a success.

PS I just put up a more detailed blog post about it.

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