Decision making · Startups

Can I balance my time between college and my startup?

Abdulrahman Omar Co-Founder and COO of IG Academy

September 17th, 2018

I am about to leave my current college, to study a field so related to the startup I have been working on, but I am worried that I may have no time to study while managing my startup.

I am starting to make revenue of my startup and it is starting to grow fast and getting popular.

my current college will end in 2.5 years from now, but if I started the new field, I may take 3.5 years from now to graduate.

I am asking this question to know whether I should take this leap or not.

Dane Madsen Organizational and Operational Strategy Consultant

September 17th, 2018

It depends on the reason you are going to college. If it is for the education, and the courses match you needs as a founder, then taking longer but finishing is a good thing. If it is for the relationships that you may lean on in the future, same answer. If it is for the degree to make you feel better and more comfortable to start a new enterprise, it seems you already are there. Recall Gates, Jobs, Ellison, and Zuckerberg never finished college.

Bob Chalfant Assistant Professor of Entrepreneurship, Notre Dame College

September 18th, 2018

By Julia Peng W’17 and Erica Polle C’17 August 23, 2016 at Wharton:

Take the leap:

1. Opportunity costs are low. Economics students are taught to weigh decisions based on opportunity costs—what you could be doing with your time instead of launching a business. College is a time when opportunity costs are probably at their lowest. You’re not giving up much to dedicate time to your business. Unlike life after college, students usually don’t have to worry about turning down a full-time job, having to earn a stable income, raising kids, etc. Instead, these 4 years are one of the last chances you have to be selfish. College responsibilities pale in comparison to the “real world”. So you might as well invest your time and energy into something you believe in, and take a risk.

2. You’re surrounded by world-class resources. In college, you receive an automatic support network—friends, professors, administration. Penn Wharton Entrepreneurship is an amazing resource to take advantage of. They not only provide information on application deadlines and speaker events (instant networking), but also connections with the right people in the industry. The peer network is diverse and readily available. You probably won’t ever again be in a position where asking for specialized advice means grabbing coffee with a friend who’s coincidentally taking a class on that topic. You’re in a hub where ideas are constantly flowing, leading experts randomly stop by to give talks, and an entire alumni network is just a click away. Penn’s professors are leaders in their fields, and a perfect resource. Take advantage of your “.edu” email address—it opens many doors.

3. Reputation.

4. Learning from failure. It’s true that the majority of startups fail, for a plethora of reasons mostly unrelated to the idea. Pursuing a startup means rejection—sometimes daily rejections. It’s full of highs and lows. But even if your company fails, you will at least have tried, and walked away with experience and a set of skills others do not possess. The most important skill you’ll gain is rapid, critical decision making. When you’re responsible for a company, no matter how small or young the company is, every decision comes back to you. No other job, club leadership position, or class will push you to make critical decisions with imperfect information on a daily basis in the same way.

Dorothy M Neddermeyer Founder/CEO - Leading Edge International Business Consultant providing improvement - optimize profit

September 18th, 2018

Absolutely do it. There is no reason you can't allocate time for each. One thing I know everyone has difficulty allocating time effectively. There are 1,444 minutes in everyday use them well. Especially, minimum 7 hours every 24 for sleep. You do not need to allocate time for the next 2.5 or 3.5 years. You need to allocate time accordingly each day/week/month. I got my Master's degree while parenting two young children, maintaining a marriage, and part-time work that related to the reason I wanted a Master's degree. Go for it!!!

Sunir Shah I win markets through engineering.

September 18th, 2018

College never stops existing but a business opportunity does. What is the downside risk of asking your dean for a deferment for a year so you can focus on the business? What is the downside risk of the business going under? You won’t have a degree and you might, what? suffer embarrassment of going back to school? But with better life skills? And work ethic?

Chowdari Babu Founder @ ismac.io

September 18th, 2018

You can hire professionals to run startup and finish your collage Or you can take startup to accelerator like Y and check if you qualify for their programs , You might be the brillant guy who can change to the world

Gaurav Mishra Ex-McKinsey; Ex- IIM-B;

September 18th, 2018

Do it men; Go for your dream.....

Chia Ming Chen CEO/co-founder of E-Green LLC, smart light company

September 18th, 2018

You are young and need to explore. Follow your passion. Do whatever you like. You can always go back to do what you have not finished.

Anoop Krishnan Entrepreneur Hardworker Leader

September 19th, 2018

Time Management and Planning your schedule is a crucial factor for success. So take the lead and take benefits out of both. Startup and experience will help you out in college(if your course and startup idea are connected/similar) and your college studies will definitely boost your skills for Startup

Arsalan Sajid Startup Community Manager @CloudwaysStartupProgram Digital Marketing Executive @Cloudways

September 19th, 2018

You don’t have to view studies and your startup idea as two completely different things. Try to make them inclusive. For example, if you are studying engineering, take some marketing and business classes just to have a broad understanding of what is needed in the business world.