> If you go to work at a company always think how you can use the knowledge gained there to start something of your own.
Pro tip: avoid highly specialised knowledge that can only be used in particular firms e.g. highly capitalised or regulated entities. Yes you will be paid well above market rates but it will be very difficult to convert those skills into a business because you won't have access to the market as a solo entrepreneur.
Time and again I'll see that the people who start successful lifestyle businesses started off in a lower paying, more general career e.g. web development. It works because you'll encounter problems that apply to a huge market, and you'll have past customers you can tap into to sell your product that addresses those problems e.g. WordPress plugins or invoicing software particular to your region of the world. Boring but high demand software.
Wouldn't having deep specialisation in a particular field help you to gain a competitive advantage when deciding to go it alone and starting a company in that area?
Absolutely, but the more specialised, the more likely your skill is one part of a much bigger structure and therefore you're less likely to be able to leverage it as a solo entrepreneur.
For example, you spend 15 years becoming a lead engineer for a vehicle manufacturer. But there's very few ways you can then that into a solo business, other than consulting (which is no longer the same work).
Many countries - like UK - have restricted consulting type of business, where it's not possible to make profit, as consulting engagement has to be taxed as deemed employment, even if it is a legitimate business, when service is provided by the owner of the company. Pulling the ladders etc.
Pro tip: avoid highly specialised knowledge that can only be used in particular firms e.g. highly capitalised or regulated entities. Yes you will be paid well above market rates but it will be very difficult to convert those skills into a business because you won't have access to the market as a solo entrepreneur.
Time and again I'll see that the people who start successful lifestyle businesses started off in a lower paying, more general career e.g. web development. It works because you'll encounter problems that apply to a huge market, and you'll have past customers you can tap into to sell your product that addresses those problems e.g. WordPress plugins or invoicing software particular to your region of the world. Boring but high demand software.