WORKING IN STARTUPS Founding a business attracts a lot of young people who have little or no business experience; but only a few business development programmes put much emphasis on learning – Village Capital, EntrepreneurFirst and the Clore Foundation among them.
Becoming a company founder, some suggest, is to-day a more popular career than any other, but it is fraught with failure. Brent Hoberman has depicted it as like throwing yourself off a cliff and learning to build an aeroplane on the way down. While some succeed (YCombinator seems to attract heavy-weight innovators), many fail; (in the UK just under half new businesses apparently fail within three years), and many of those who start businesses simply become self-employed (or are out of work.) We desperately need to identify, select and train – for the various skills that are needed.
In 2016, Village Capital in New York launched a development programme for young people aimed at filling the gap between their education and the need for them to become employable in today’s venture-oriented world. It involved companies that would receive ‘training on business model development, customer hypothesis testing, financial modelling, partnership and customer development, and investor engagement. Entrepreneurs also have one-on-one time with mentors, industry experts, investors, top business leaders and potential customers’.
EntrepreneurFirst, an Accelerator for graduates to found new businesses, has become expert in putting people together who form effective teams, as has Village Capital in New York. EntrepreneurFirst achieves this by forcing its recruits to examine compatability in relation to purpose, in the very early stages of a startup.
The Clore Foundation, originally about leadership in the arts, runs a variety of leadership development programmes – for people in social enterprise. They are all part time; in groups; online as well as residential; a mixture of reflection – with coaching, and instruction; and all of them about working together to tackle their various current leadership challenges.
John Whatmore, June 2018