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How do you deal with imposter syndrome?
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90/100 businesses fail. It’s reasonable for most to try and acquire safety nets that will eventually pay them mid six figures potentially 7. You can still live a decent life with that money, better than most. There is no need to push people to all go start businesses. Most will fail anyway. Those with true drive and passion will be starting their own things without needing anyone to tell them. Also, optionality in consulting is more about the ability to lateral into different industries, not as much about everyone starting their own businesses.
Professor Desai further adds "These safety nets don't end up enabling big risk-taking - individuals just become habitual acquirers of safety nets." Observing those who are career consultants, I see a lot of truth in this.
I also see it myself (I am one such person who went to a top school, got a job at a top consulting firm, thought I would have left for bigger and better things by now, but have instead found myself staying in consulting for longer and longer).
Consulting gives you optionality to witness and to some extent test different jobs / orgs etc., to then figure out what you may do next. One of the option is to stay in consulting of course.
I’m not sure why consulting should enable risk taking jobs (and frankly - given the social demographics of consultants, nothing is really risk taking) nor what you mean by “bigger and better things”
Rising Star
Optionality but within a corporate blanket. It’s a good gig
Replace safety net with money. Yes, making lots of money gives you optionally.
Your passion was solidified during your teenage years, between the ages of 7 and 13. However, the world often diverts your attention from your passions.
At best, you can now pursue your interests, but at the end of your life, you will likely regret your work choices.
To change the rules of the game, you should stop focusing on the many options available and instead concentrate on drilling in and remembering what you were truly passionate about during your teenage years. This approach should reduce your regret later in life.
Rising Star
Our system doesn’t support entrepreneurship when young. These examples outline individual safety nets people create so they lower the impact of failure.
They do late in life, most partners get retired by age 55 (commendable), many consultants invest and earn passive income thru investing and investing in businesses where they have interest, many consultants adopt a costly hobby and follow thru with money..