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What are the job opportunities for failed entrepreneurs in India?

Question asked by Ankita Katdare in #Startups & Business #Career Help on Feb 1, 2020
Ankita Katdare
Ankita Katdare · Feb 1, 2020
Rank A1 - PRO

While discussing with a few entrepreneur friends, I realised there was a pestering query among all. While we glorify "failure & getting back up" in the world of entrepreneurship, we all know how difficult it is to put yourself together and look forward to the next opportunity. Not all entrepreneurs have sweet exits and sometimes entrepreneurs can go bankrupt before deciding to take up full-time jobs.

I am starting this discussion to understand what are the job opportunities for failed entrepreneurs in India. Are other startups and MNCs willing to offer jobs to entrepreneurs who have been unsuccessful at their ventures?

As you already know, 99% of the startups fail anywhere in the world. The reason for the failure of a startup is not always the failure of an entrepreneur or his/her skills. An entrepreneur is known to don multiple hats. A typical entrepreneur is good not only at technical side, but also in sales/marketing, handling finances and what not. 

Wouldn't such an entrepreneur be a perfect fit (in fact, an asset!) to another company, another venture?

What are some ways for entrepreneurs to get hired in other interesting jobs? Share your views.

Posted in: #Startups & Business #Career Help
bill yorke
bill yorke · Feb 1, 2020
Rank C2 - EXPERT

Startup owners are entrepreneurs who are, including those who have failed; creative and capable of multitasking, embracing mistakes as learning measures, client-oriented, reward-oriented, and more risk-taking than the rest.

Therefore, for unsuccessful entrepreneurs careers that have these aspects will be fulfilled. Such careers include; Corporate development managers,  Relationship managers,  Consultants,  Marketing management Enterprise

Swarup Pan
Swarup Pan · Feb 1, 2020
Rank C2 - EXPERT

There is nothing like the failed entrepreneurs.

They have the whole experience of how the industry works, how the business works, whats the situation of the market in every sense. 

I find them as the jewels of the current business scenario. In my opinion they must be recruited as some advisers in any company as they have the knowledge of the failure so that the company can use his/her experience.

Noothan Kumar
Noothan Kumar · Feb 1, 2020
Rank C1 - EXPERT

I learn from my mentors that 90% of startups will fail within the first 3 years of establishment.

Startup owners, even those who failed, are people who are 1) dynamic and able to multitask, 2) accept failures as learning steps, 3) customer-oriented,, 4) reward-focused and 5) more risk_taking than others.

Hence, jobs having these 4 elements will be fullfiling for failed entrepreneurs.. Examples-

1. Business development managers.

2.consultants.

3. account managers.

4. project managers.

Anoop Mathew
Anoop Mathew · Feb 17, 2020
Rank A3 - PRO

If i were recruiting an ex-startup owner, i would take him/her into a role that's challenging and gives a lot of experience and freedom to explore and create. There're roles which boosts intrapreneurship within certain companies i.e. you're an employee of a company but that company has hired you to innovate or create a new business --> Such roles are apt for these guys!

P.S.: Once a person is bit by the 'entrepreneur bug', there's no restricting him/her to a defined role... It'd kill them!

Noothan Kumar
Noothan Kumar · Feb 22, 2020
Rank C1 - EXPERT

If you’re someone who failed at entrepreneurship, don’t feel discouraged. Entrepreneurship is an ambitious goal to chase. Not everyone who thinks they are an entrepreneur, finds out they are correct. But, the great news is, being someone who attempted entrepreneurship, you likely come with a set of skills that are applicable to many career choices and that will be attractive to an employer.

If you’ve ever heard entrepreneurs don't make the best employees, then great! Because if you are entering into traditional employment, you have discovered entrepreneurship isn't for you and therefore - you’re perfect for another job! Remember everything that makes your experiences valuable and takes inventory of your special skills so you can highlight those to your potential employers. As a failed entrepreneur, here are a few things you can brag about when you’re looking to land your new gig.

As a failed entrepreneur, you have unique experiences. No matter how many professional people you might run into, only a select few will have attempted a startup and have the experiences you will be able to draw upon. When employers see your varying skills they should be impressed that you likely have many overlapping skills such as creative design as well as accounting for example.

Your employer will see you have an energetic work ethic are ambitious. Even if your business did not succeed you will be able to forever say you had the guts to take action and try. Many people only ever talk about starting a business.

If you were an entrepreneur chances are you’re at least a little resourceful if not very resourceful. Resourcefulness can be a valuable asset to a company who is looking for someone to improve and maximize on a budget for example.

Another quality entrepreneurs come equipped with, is the ability to empathize and understand as well as respect the amount of hard work and planning required to start a business and hire employees. Failed entrepreneurs can make wonderful employees. Employers should recognize the unique skills these individuals have to offer.

If you’re a failed entrepreneur, your employer will likely benefit from your ability to put yourself in their shoes. You essentially become another voice for management, helping others understand the practical motives behind difficult decisions those in charge have to make.

As a failed entrepreneur you will be valuable in your next role because work challenges and conflicts won’t be a surprise to you. You’re likely used to having to deal with difficult situations and rigid deadlines.

Stress will likely be easier for you to digest than another employee without your unique experience. Keep in mind your failure might represent a success to someone else and do not discredit all of the hard work you were successful in accomplishing.

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