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  • I was frustrated, I think, working in a large organization.

  • I wanted to be able to make a bigger impact.

  • We've all thought about it: Quit the 9-to-5, start a company, become the next Jeff Bezos.

  • Only, it's easier said than done.

  • Estimates suggest anywhere from 50 to 90 percent of start-ups fail with the first few years.

  • So just what is it that takes someone from an employee to an entrepreneur?

  • I'm here in Singapore with three former employees, who gave up their day jobs to join start-up generator, Antler.

  • I wanted to find out what led them to take the leap.

  • I, personally, was working in the fashion industry for a long time, and noticed that there was a problem that needed to be solved.

  • The fashion industry wasn't being inclusive enough and didn't cater to plus-sized women.

  • And so I felt like I could enter entrepreneurship by solving a real problem for real women.

  • I was a management consultant before.

  • But I felt the lack of being able to create and see something grow.

  • I would say I've always wanted to be an entrepreneur.

  • My dad is an entrepreneur and I've seen him pursue his dream as I grew up.

  • I did an MBA last year at INSEAD and, really, I think the turning point was when I was in Israel and someone told me the only way to fail is to stop trying.

  • And, that moment, I knew I was ready.

  • I started a company called Vaniday, which is a beauty marketplace.

  • And that gave me a lot of confidence to start something on my own.

  • I had experience working at a large department store, doing womenswear buying.

  • But it means your role is very siloed, and so the impact you can make is very limited.

  • That was one of the big reasons why I left a corporate job.

  • So, they had the dream.

  • But what made them stand out to Antler, whose program helps aspiring entrepreneurs start new businesses?

  • So we're looking for three things in an entrepreneur at Antler.

  • The number one thing is the spike, so something that you are really great at.

  • It could be a personality trait or it could be something that you're passionate about.

  • We also look for that inner drive, the inner engine, so basically meaning to be a self-starter.

  • The third thing is, we look for tenacity.

  • Tenacity's really this thing about never giving up, perseverance, you're in this to succeed.

  • And a lot of great start-ups they fail because people actually gave up, but not because they didn't have a great idea and a great team.

  • Definitely solve a real problem.

  • Make sure that it's something that customers need and are willing to pay for.

  • The most important is really the support system around you.

  • So please, please do talk to your loved ones, your friends, extensively.

  • Don't start something on your own.

  • Work with other co-founders so you can balance out skill sets, and the ups and downs of the early days, which are very frequent.

  • It's also a lot of instability to be an entrepreneur, financially and personally, so be prepared and do everything you can to succeed.

I was frustrated, I think, working in a large organization.

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B1 entrepreneur fashion industry ups start ups fail real problem

When to Go from Employee to Entrepreneur | CNBC Make It

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    PENG posted on 2019/01/30
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