The Good Tech Companies - Five Lessons for Transitioning From Corporate to Start-up with Gaby Haffner

Episode Date: October 3, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/five-lessons-for-transitioning-from-corporate-to-start-up-with-gaby-haffner. Five Lessons for Transitioning From Corporate to Start-up with Gaby Haffner Check more stories related to startups at: https://hackernoon.com/c/startups. You can also check exclusive content about #startup, #startup-founders, #baret-scholars, #founder-stories, #entrepreneurship, #good-company, and more. This story was written by: @jonstojanmedia. Learn more about this writer by checking @jonstojanmedia's about page, and for more stories, please visit hackernoon.com. Gaby Haffner, currently the Head of Europe at Baret Scholars and former Founder of Ameli Health, has successfully navigated the transition from corporate to being a startup owner.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. 5 Lessons for Transitioning from Corporate to Startup with Gabby Hafner By John Stoy and Media The corporate world is often compared to a marathon, steady, structured, and predictable. In contrast, startups can feel like a series of sprints, full of direction changes. Transitioning from the structured environment of the corporate world to the dynamic fast-paced startup ecosystem can be daunting but incredibly rewarding. It requires a shift in mindset, a willingness to step out of your comfort zone, and the courage to embrace uncertainty. Gabby Hafner, currently the head of Europe at Barrett Scholars and former

founder of Amelie Health, has successfully navigated this transition. As a former strategy consultant and investment banker turned startup founder, from her early roles at Bank of America Merrill Lynch to her time at Monitor Deloitte Andy, where she focused on tech and consumer companies, Gabby's experiences can offer lessons for aspiring entrepreneurs. Here, Gabby shares five actionable insights from her transition from corporate to entrepreneurship. Lesson 1. Focus on execution over perfection in startups. Speed and execution often matter more than meticulous planning. Real-world feedback provides insights no amount of theoretical planning can match, Gabby notes.

This lesson became especially clear when she founded Ameli Health, a luxury prescription skincare platform. Gabby launched a proprietary platform that integrated doctor-patient matching with pharmacy supply chains in a remarkably short time frame. She moved fast, gathered feedback, and pivoted based on real-time market reactions. This experience contrasted sharply with her corporate experience at EY and Monitor Deloitte, where processes were more structured and detailed. A good idea is only as valuable as the ability to execute it, Gabby emphasizes. This ability of hers has also been crucial at Barrett Scholars, where she is part of the founding team who are building a pioneering education company.

Lesson 2. Embrace uncertainty Entrepreneurship demands a strong appetite for risk. In corporate environments, things are often predictable, but in the startup world, you need to be comfortable with uncertainty, Gabby explains. This shift means learning to thrive in ambiguity. As a founder, you're responsible for everything, from product development to finances, often pushing you well beyond your comfort zone. During her time at Amelie Health, Gabby had to quickly become proficient in areas outside her expertise, such as digital marketing and product management. This adaptability has been invaluable at Barrett

Scholars, where she successfully leads the digital marketing efforts. Her advice. Growth happens in the unknown. Lesson 3. Adopt a growth mindset Unlike the scarcity-driven, zero-sum thinking that often dominates corporate environments, startups require a growth mindset, the belief that abilities can be developed through dedication and effort. A growth mindset allows you to embrace challenges and setbacks as opportunities for learning and growth, Gabby emphasizes. Gabby honed this mindset during her time at Farfetch, where she worked on improving revenue strategies for high-end luxury fashion clients. These experiences translated directly into her role at Barrett Scholars,

where she continues to apply growth-oriented strategies to drive business development. Lesson 4. Prepare for the emotional rollercoaster, entrepreneurship is an emotional rollercoaster, Gabby admits. There are extreme highs and crushing lows. You need a high pain threshold and a deep passion for what you're building to push through the tough times. In corporate roles, setbacks are often cushioned by larger organizations, but in startups, every challenge can feel personal. Her experience founding Amelie Health taught Gabby the resilience

needed to endure the ups and downs of entrepreneurship. Thy's emotional resilience has been crucial to her role at Barrett Scholars, where she manages the pressures of scaling a startup. Lesson 5. Constantly seek critique in startups, mediocrity is not an option. Whatever you create must be far superior to what's already out there, Gabby emphasizes. Constantly seeking feedback from trusted sources and iterating based on that critique is key to refining a high-value product or service. At Barrett Scholars, Gabby implemented a fast feedback loop early on, speaking directly to customers to refine the program's structure. This adaptability has allowed the company to evolve its offering and offer a truly innovative product. Listening to the market and improving

based on feedback has been essential to our growth, she notes. Gabby's thoughts on entrepreneurship Gabby believes that startups are society's true source of innovation and disruption. As a mentor at MassChallenge and for Fitzwilliam College, University of Cambridge's entrepreneurship competition, she dedicates her time to supporting early-stage startups. Thank you for listening to this Hackernoon story, read by Artificial Intelligence. Visit hackernoon.com to read, write, learn and publish.