The Corporate Sector vs Running My Own Business

Having done my MBA from XLRI Jamshedpur, I spent 15 years in the corporate sector. My first 10 years were in Britannia, from 1996 to 2006. I spent a year in Delhi as a Sales Management Trainee, then I was in Chennai for 2 years as an Area Sales Manager (first handling Chennai, then handling Karnataka). Next up was a 3 year Marketing stint in Bangalore as a Product Manager. My last 4 years in Britannia were spent back in Delhi, as a Regional Sales Manager. I quite enjoyed my Britannia stint (of course, there were ups and downs) and the reason I left was that I was moving back to Bangalore as a Marketing Manager, and I saw no chance of returning to Delhi as long as I was in Britannia, and my parents and extended family were in Delhi. I wanted to be in the same city as my family and this triggered off my move to Nokia. I spent 5 years in the corporate office in Gurgaon, handing various roles in Marketing, as a Product Marketing Manager, as the Head of Marketing Planning, as a Program Manager and as a Category Manager.

Years before I took the plunge and decided to set up my own venture, I had an idea for a venture, which married my greatest passion with my career. For years, I had been an avid traveler, and every year, I would take 2 or 3 weeks off and travel around the world, often to the great consternation of my bosses! One of the things I enjoyed doing, in addition to exploring places in detail and taking photographs, was collecting souvenirs from different places. I often wondered why good quality souvenirs weren't available in India, and that was the idea for my venture. So there was this idea that was pulling me, but it wasn't easy to chuck up a corporate salary and take the plunge. Then there was a push factor following some differences at work, and between the pull and push forces, I decided it was time to take the big step.

Now it is close to 5 years since I said goodbye to the corporate sector. I sometimes do think about returning to the corporate sector, but I haven't done anything about going back to it. Let's look at my thoughts about the corporate sector versus running my venture.

The Corporate Sector - the good things that I miss
- The salary. It's not easy earning like one did in the corporate sector.
- A feeling of belonging to a larger family. At both organizations where I worked, there was this feeling of belonging to a larger family. I made good friendships among my colleagues. There was this sense of pride being attached to a big established brand, and there was that respect that one drew from that.
- The friendships I developed. Though I certainly have more time on my hands now, I end up spending less time with friends. I guess it's largely due to close friendships I had developed in the workplace, and the ease with which one could take "coffee breaks" at work and catch up with friends.
- The learnings. Working in large organizations came with a lot of learnings, whether it was from structures training programs, or from very able seniors and peers. That's something one doesn't get on one's own.
- The lifestyle. Yes, I do miss the jet setting lifestyle, the perks, the complimentary invitations to big events, the regular stay at five star hotels.

The Corporate Sector - the not so good things that I don't miss
- Difficult bosses. I have had my share of those. Some ill tempered, some workaholics, some unreasonable. Some very competent, but just not at the same wavelength as me.
- The lack of work-life balance. I've had extended periods of working late nights, and weekends, and barely getting time to myself, or with my family or friends or interests.
- The feeling of not being adequately empowered. I found myself being inadequately empowered to take decisions and implement them. There were always approvals to be sought, buy-ins to be obtained.

My Own Business - the good things
- Good work-life balance. How much time I devote to work and to my personal life are largely up to me. My interests, which had taken a bit of  back-seat, are integral to my life again now (my travels, my photography, watching movies, eating out, my interests in following tennis / chess / other sports / the music charts). I have also managed to spend more time with family than I was able to earlier. That's important specially now because I have a young son and I can get to be an integral part of his growing up years. I have also been able to spend more time with my parents and sisters now, even though I was living with them when I was in the corporate sector, and now I have been living separately ever since I got married (my marriage roughly coincided with my leaving the corporate sector).
- Freedom to take decisions that impact business. There is a sense of empowerment that wasn't there earlier. Decisions may be guided by financial constraints, but not by a series of approvals to be obtained.
- Not being answerable to anyone else but myself. Sometimes it is good to be answerable to a boss, but I am the kind of person who likes to be answerable to myself. I don't like every move of mine to be observed and analysed to see how improvements can be brought about. I like to do things my way, at my pace, even if it's not the most effective way!
- The sky is the limit, at least in theory. I am very far from being anywhere near that stage. However, at least in theory, the sky is the limit in terms of rewards one can generate by striking big deals, exploring unchartered avenues. Rewards aren't limited to salaries and possible bonuses.
- Working in a space that is an area of interest. My work is in a space that is linked to my biggest passion - travel. Work involves a bit of travel, plus a lot of photography and catering to international travelers. When work is in one's area of interest, it really doesn't feel like work!

My Own Business - the not so good things
- Financial struggles. There are good months and then there are the not so good months. The nature of my work is very seasonal, as it is linked to the inflow of foreign tourists into India. In lean summer months, business struggles and then one really misses the fixed monthly corporate salary!
- No large brand as a "big brother". When I go for a meeting, I am not going as a representative of a large brand, so doors don't open so easily, whether it is clients or vendors or other business partners.
- Being everything from the CEO to the delivery boy. While this is a plus in many ways, as it gives one a lot of cross functional work exposure, it also means one has to do things that one doesn't necessarily enjoy doing or things at which one isn't very adept. Luckily, my wife is involved in the business with me, and though we have our share of work squabbles because of very different approaches, we also have complimentary skill sets.

So there is no black and white answer, as each of the two phases in my life has had its share of rewards and challenges. But in all likelihood, I see myself continuing with my venture. It's hard to get back to a corporate life after several years on one's own. Yes, I really miss the steady source of income and I now have a family to support (which wasn't the case when I was in the corporate sector), but the sense of freedom, the feeling of empowerment, the work-life balance, the time spent with family, and the joy of not being answerable to a boss (unreasonable or otherwise) are big pluses for me.