Transition From Corporate Job to Startup - Stretch Goals Podcast #003

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Corporate to StartupEpisode 3

Photo by @harguellowww.stretchgoals.fm/ep3

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www.stretchgoals.fm/ep3

Challenge yourself to create ambitious goals as you start and grow your business.

Episode 3 - Corporate to Startup

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Robert Dickerson

Robert is the Founder and CEO of Mapout a mobile learning platform that uses video courses to educate customers and train employees. He helps companies develop and launch

products.

Scott Davis

Scott Davis is the Founder and CEO of MobX, a mobile development software agency. He has 20 years of experience developing software for Government, Finance, Sports and the

Telecommunications industry.

@RobDickersonJr @The_Scott_Davis



https://mapoutlearning.com/

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Phase 1

Nights & weekends



Making the transition can be really difficult.

Phase 2

Part-time

Phase 3

Full-time

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“If you have that rope, the lifesaver . . . from a full time job, sometimes that can hinder your

ability to jump full time into your startup.”

- Robert Dickerson



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Scott’s Startup Transition: Phase One● Built product in spare time● Launched● Gained traction● Dedicated more time to increasing customer base

“Your eyes are on that long-term goal of getting out of the nine to five.”



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PHASE ONE

Nights & Weekends



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Phase One: Nights & Weekends● Build your product● Validate your idea● Act on your passion● Network and grow your customer base● Invest nearly all capital back into the business



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“One thing that really helps when you’re in the corporate world and you’re trying to transition

over, is that you have this income already established.”

- Scott Davis



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It’s a completely different mentality.



“That security blanket either hinders a lot of people . . . or we use it as an asset.”

- Scott Davis

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How do you transition?

“I’m not advocating stopping working at your full time job, but if you’re not contributing to your fullest extent . . . you have to weigh those tradeoffs.”

- Robert Dickerson



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PHASE TWO

Part-time work or consulting



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Robert’s Startup Transition: Phase Two● Took every Friday off● Devoted more time to the business● Mapped out plan each day● Switched to 30 hours per week● Gradually transitioned while maintaining income

“You’ll sit down, you’ll have so much work . . . that can be paralyzing because you don’t know exactly where to start.”



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How did you negotiate that discussion?



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“You need to figure out what value you bring to the company.”

- Robert Dickerson



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“It was an awkward conversation, but it was a conversation I needed to have for my own

mindset.”

- Scott Davis



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Keys to an effective discussion

● Be open● Share your intentions and goals● Let them know you are still engaged● Communicate how your new knowledge adds value● Demonstrate synergy



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“They knew I was developing a skillset I could bring back to the company. I ended up

developing seven apps for them. I brought the skillset and the knowledge back into the

company. It became an asset to them as well as myself.”

- Scott Davis



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Make the most of your job.

Don’t wait for someone else to tell you what to do.



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“When you start generating revenue, your value goes up tremendously. You’re not just a cog in the machine, you’re innovating, you’re

moving the company forward - that gets you noticed.”

- Robert Dickerson



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Why don’t we try it like this?



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“Find leaders that are innovative, who are already pushing the company along. Go work

under them.”

- Robert Dickerson



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PHASE THREE

The full-time leap



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Before you make the full-time leap● Validate that your product solves a pain for customers● Ensure a path forward● Forecast revenue and think about your personal salary● Consider the revenue that is cycled back into the business● Make sure you are saving money



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What if you leap without a safety net?

You have to decide that for yourself.



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“Your life stage puts you in these buckets of how conservative you are with your money, or how much risk you want to take. . . . People

are taking these risks and dropping everything; the concepts still apply. You got to

have a stable product.”

- Scott Davis



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If you take the leap and you try it out, and you’re not successful, you can go find a job.



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“It really is personal as to what your risk tolerance is, your situation in life, the type of business you’re trying to grow. A lot of this

you have to think about for yourself. What makes sense?”

- Robert Dickerson



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A Gradual Transition

“You can see the difference in their happiness level.”



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Finding success● Carve out time● Resign from side projects● Increase your flexibility● Make the mental jump● Think forward

“How am I going to build this business?”



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OUTSOURCING

“It was one of the best things I did because I hired people with great skillsets.”

- Scott Davis



“Save yourself some time, take a little stress off, focus on the vision of the company, and keep

growing.”

- Robert Dickerson

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Think about the stages you’re in, your risk tolerance,

and the type of business you’re going into.

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Transition From Corporate Job to Startup - Stretch Goals Podcast #003