The similarities between academics and entrepreneurs
What’s the difference between an academic and an entrepreneur? No, this is not a cheesy joke, with a slapstick answer. . . but in reality there are a lot of similarities in working in academia and working in a startup. Both are very driven to succeed, having tested assumptions (to either a “yes it works” or “no it doesn’t” answer), followed processes through great uncertainty (both in their ideas and their income!) in order to follow a path they believe in.
The academic and the entrepreneur have the same hopes and dreams (broadly speaking) and same fear of failure, while working in a very complex and sometimes unforgiving environment:
Assumptions: The starting point for both an entrepreneur and an academic is an assumption.
Process: Measure, test and determine if the idea is good, and if not, why not? Are tangents better to explore (aka the pivot)
Environment: intellectually stimulating, and full of uncertainty, including if someone is going to steal your idea and make millions.
Broke: Both generally have little money in the beginning. Both are usually looking for funding of some sort.
Binary payoffs: It either works or it doesn’t. Yes or no.
Cause driven: Most of the time, both academics and entrepreneurs are doing it because of passion, driven by a need to make a difference in some way. The validation of their ideas.
Timing: Timing is everything. . . researching or developing something topical will inevitably help your research or venture.
Testing a hypothesis or questioning assumptions. . . same thing said differently. Not so different after all!
Why not take a look at the many entrepreneurial events and programmes available to staff, and find out if entrepreneurship is for you?
