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Advice from someone who created a multi-million dollar company at 25, a thread:
You often see the glamor side of entrepreneurs on social media. What you don't see is the constant grind behind the scenes. When you do see it, it is wrapped up with a pretty bow on top. "Elon Musk works 100 hour weeks? I want to be like Elon!"
No, you probably don't.
No, you probably don't.
Not everyone needs a college degree to be successful. HOWEVER, most people do.
College isn't just about learning skills. It's about making connections, learning to interact in an environment where conflicting ideas are present, and developing new ideas based on facts and logic. These are invaluable in the workplace.
I 100% did not need my degree to be successful. But, I met my business partner during my college internship. My other partner was my professor. I met my first key employee in one of my classes on campus. I got a position guest teaching at the university by impressing in a class.
I could not be the CEO without my experience in sports. The leadership skills I learned from baseball could not be replicated in many other environments. I think back to the college baseball grind literally every day
Our CMO, though, never played organized sports. He makes just as much money as me. There's more than one way to get there.
Sometimes it's better to be lucky than good. Our first client was signed because the son of a company's CEO sat next to me in a lecture one time. His parents signed a deal with us later that year. His parents happened to know a ton of biz owners who also needed marketing help.
The first client we got was because we were lucky. The next 100 we got were because we were good.
Can't get started without the first one, though.
Can't get started without the first one, though.
Mentorship is underrated. How do you gain enough experience at 22 years old to start a company? Ask someone who isn't 22. Get advice from those that have been there and done that.
The best decision I ever made was bringing on my professor as a partner. Aside from his guidance, he also brought something I didn't have- credibility. When you sit down at a meeting to pitch someone, the phrase "I am a professor. I was also an exec at Yahoo" hits the spot.
But the funny thing is he doesn't do any of the day to day work. Perception is reality. Oh, this previous exec is involved? They must have great quality.
They were right! But I made the procedures and the quality services. That was a need-to-know basis at the beginning.
They were right! But I made the procedures and the quality services. That was a need-to-know basis at the beginning.
If you want to start a business, then start it on the side. Grow it, then quit your day job. 99.99% of people are not going to be able to grow fast enough to support themselves financially if they just quit their job and go for it.
Another note on this subject: start while you're young and poor. I started as a poor college student. One client paying 2k a month was amazing for me at the time. Now we do 100k+ months! It would be hard for me to leave this and start at nothing now that I've experienced wealth.
Don't expect anything right away. Unless you're dealing with a good capital investor or VC (I was not) then you should expect to make almost nothing for a good amount of time. I made 8k the first year. The rest had to go back into the business. I paid employees more than myself.
Lean into your strengths and surround yourself with people who cover for your weaknesses. I had a good marketing mind and was decent at finance. My weaknesses were:
1) I was 22. So I hired a 50 year old "face" for our company
2) Tech skills. So I partnered with a nerd.
1) I was 22. So I hired a 50 year old "face" for our company
2) Tech skills. So I partnered with a nerd.
3) Inexperience with website development. So, our first full-time hire was a web developer.
4) Design. So, our second full-time hire was a kick-butt designer.
5) Day to day task organization. So, we purchased Asana.
6) Lack of funds. So, we didn't pay ourselves.
4) Design. So, our second full-time hire was a kick-butt designer.
5) Day to day task organization. So, we purchased Asana.
6) Lack of funds. So, we didn't pay ourselves.
Sounds like common sense, right? It's not. In fact, most small businesses I have personally worked with do not grasp this concept. Don't try to make cash over night- invest in areas that will help you grow, instead. It will be worth it!
Stay humble through success, but enjoy it still.
Donate to charity. Help out family and friends in need. Give back to the people and organizations who helped you get there. Support others.
And still buy the truck you always wanted (it's a write off). Go to Hawaii. Have fun.
Donate to charity. Help out family and friends in need. Give back to the people and organizations who helped you get there. Support others.
And still buy the truck you always wanted (it's a write off). Go to Hawaii. Have fun.
Lastly, whoever said money doesn't buy happiness was only partially correct. Money can buy things that make you happy, or aid in your happiness. For me, that is experiences. I get to go to the World Series every year. We travel the world (after COVID we will start again).
I play on a travel softball team. I invested in a dear friend's business. I get to coach baseball and use my coach's salary to pay for kids to play summer ball. I saw Lamar Jackson play in Baltimore, and saw Mahomes play in KC. I met some amazing people.
None of that happens without the funds to do so. Entrepreneurship can be one of the ways to make that money (and have the flexibility). But, it's not for everyone. There are many other ways to do it. You just need to sacrifice and push yourself to do it.
And remember- nothing matters if you have no one to share experiences with. Treat people right. Hold onto your friends and family. Love tenderly. Life is about love and connection. Travelling the world and seeing new things is only so great when you're alone.
