The (early) stages of a venture - transforming your career path.

The corporate path seemed like the obvious choice after university - predictable income, clear progression, and familiar territory. While friends dove headfirst into the startup world, I watched from the sidelines, puzzled by their willingness to embrace uncertainty. Their bold decision to choose an unclear path and unknown environment left me both intrigued and hesitant.

The entrepreneurial journey and its terminology remained a mystery until I joined WHU's part-time MBA program in 2024, where I first explored this world quietly, without exposing myself having no clue. This curiosity led me to connect with Max, Managing Director of the WHU Entrepreneurship Center.

Fun facts: WHU alumni have founded 15 unicorns (startups valued over $1 billion), including Zalando, HelloFresh and FlixBus. In total, WHU’s alumni founded 1,520 start-ups. They were behind 5.7% of all funding transactions in Germany from 2014 to 2023—and were the recipients of 10% of that period’s total investment sum (i.e., US$7B of US$66B).

Whether you're considering a „venture“ within your corporate role or stepping into real entrepreneurship, expect to read about our thoughts on the phases of preparation, assessment and execution.

Prepare: your „why“ precedes your „how“.

The foundation begins with self-reflection. As Max emphasized, "Understanding your personal motivations for entrepreneurship is crucial - whether it's seeking independence, solving specific problems, or transforming industries. This clarity becomes your north star, guiding every decision along the way."

Assess: the pivot or persevere dilemma.

Before investing time and resources, challenge your idea's substance. Ask yourself: "Would I invest my own money in this?" Evaluate across multiple dimensions - feasibility, market demand, and personal passion. Study market signals and competition, particularly during funding stages. Learn from successful bootstrappers and their decision-making processes at crucial pivot points. Remember, adaptation often precedes success.

Execute: balancing risk and innovation.

1. Strategic risk mitigation: Align incentives across all stakeholders, especially investors, to ensure smooth execution. Misaligned expectations often become hidden risk.

2. Community as your catalyst: Leverage entrepreneurial ecosystems for validation and guidance. As Max notes, "Your network becomes your safety net and innovation springboard."

3. Embrace growth mindset: Think ambitious but execute precisely. Navigate both internal drive and external pressures while maintaining creativity. Accept that challenges and occasional tedium are part of the journey.

4. Start small, scale smart: Take action and adapt along the way. Use iterative testing to validate assumptions without overextending resources.

5. Simplicity as strategy: Consider bootstrapping as a lower-risk approach compared to venture capital, especially when starting solo. Build momentum through consistent, small wins.

Let’s wrap it up.

The path from corporate stability to entrepreneurial possibility isn't linear. My journey from skeptic to explorer has taught me that the entrepreneurial mindset isn't just about starting companies, raising money and wearing Patagonia jackets - it's about approaching challenges with curiosity, resilience, and strategic thinking.

"The best time to start isn't when you're ready - it's when the opportunity meets your preparation.“ - Maximilian