#startupadvice #entrepreneurship #careeradvice #VCfunding #startupstruggle
Need advice on what to do with my startup? 🚀
The Dilemma of a Startup Founder:
As a recent CS graduate with limited professional experience due to health issues, trying to navigate the startup world can be overwhelming. Whether to pursue an MSCS admit from a prestigious university in the US or capitalize on the significant VC interest in your product poses a tough decision. How do you ensure that your future choices align with your long-term goals and aspirations?
Here are some practical solutions to help you make the right decision:
- Assess Your Goals: Reflect on your long-term career aspirations and determine whether accepting the MSCS admit aligns with your vision. Are you passionate about working in the tech industry, or are you more inclined towards entrepreneurship and building your startup?
- Evaluate Financial Implications: Consider the financial aspects of both options. Will taking on a high loan to pursue the MSCS degree burden you financially, or can you leverage it to enhance your skills and network in the industry?
- Seek Mentorship: Connect with industry experts, startup founders, or career advisors who can provide valuable insights and guidance based on your unique circumstances. Their perspectives can help you make an informed decision.
- Balance Risk and Reward: Understand the risks associated with both choices and weigh them against the potential rewards. Is the stability of a job after completing your MSCS degree more appealing, or do you thrive on the challenges and possibilities of entrepreneurship?
- Build a Support System: Surround yourself with a supportive network of friends, family, and mentors who can offer emotional support and advice during this critical decision-making process.
Remember, there is no one-size-fits-all solution when it comes to navigating the complexities of entrepreneurship and career choices. It’s essential to carefully evaluate your options, consider your personal goals and aspirations, and seek guidance from trusted individuals in your network.
By taking a thoughtful and strategic approach to your decision-making process, you can pave the way for a successful and fulfilling career journey in the startup world. Embrace the challenges, learn from your experiences, and trust in your abilities to make the right choice for your future.
What should be the decision? That’s for you to make.
Listen to your heart, look what your passion is. CS in 2020 suggests you’re quite young. Younger you’re, more chances you can take, especially in a third world country.
Both the things you have on the weighing scale aren’t easy to come by. However, do not make a decision of going ahead with the startup only because VCs are ready to give you a term sheet. Do it only if you really want to do it. Because getting funded is just the start of very tedious journey.
I can somewhat associate with your story as I got admitted twice (average colleges) and chose my startup both times (no funding and very small traction in first and second instance). This was purely because I wanted to do something of my own.
Would the VC investment qualify you to relocate to a different country on a visa? If your investors are from US and it’s over ~250k you could almost certainly be able to move there from what I have read
If I were in your place, I would, without any second thought, focus on the startup. Being a founder of a VC-funded startup places you at 99.9% percentile of the population and gets you a lot of respect. Even failed startup founders deserve and earn a lot of respect.
Two clarifications here: if you currently don’t have formal commitments (term sheets), you still have a lot of distance to cover before getting the term sheet. I would rate the chance of getting term sheet at 40%-50%
Secondly, there’s a sea of difference between VC and angel funding. I hope when you said VC, you meant VC (companies like Sequoia, not individuals)
Taking a VC fund and a chance to build your own company is an amazing thing to happen. You are young and have time to try.
As for the admission you can always try later and having run a startup gives you so much advantage in making applications later on.
Either way you will make some money and might even be able to have a safety net to go ahead with what fits best in the future.
You’re from India ig, MSCS in US is always being an interesting option and conventionally sound very great to us. But you can only do what your heart says.
Vcs job is to make astronomical projections and sell it .
Don’t trust the vca.
ARE they investing? How much. Can you bank some of it.
Where are the vcs . How did you get interest. Are they legitimate.
Let’s think about the “worst” case: You take the startup funding and your startup fails completely.
You’d still end up with more valuable experience than you could ever get in an MBA, and more valuable contacts (investors, other founders you’ll be networking with, etc.) than you would have gotten from your college drinking buddies. You’ll have new cool job opportunities (or subsequent co-founder opportunities) growing on trees.
And you could always apply to grad school again if you want. If you were accepted to an Ivy already *without* the experience of having founded a VC-backed startup, then you’ll be a shoe-in next time.
In contrast, if you abandon your startup now for grad school, who knows if you’d ever have the opportunity to have founded a VC-backable startup again. Finding product-market fit is like catching lightning in a bottle. Run with it!
Startups teach you more than any university does even if you lose or win. And get access to more people and networking happens which is a blessing in my experience. But get ready to drain yourself mentally, physically as startup consumes every bit of the energy that is present within you. And make sure you invest you energy in the right place
Focus on building your product, leverage VC interest, and consider remote work opportunities to expand your options.
Wow, sounds like you’ve been through a lot! It’s inspiring to see how you’ve persevered despite the challenges. Getting traction with your product and getting into an Ivy League MSCS program are both huge achievements. It’s understandable to feel torn between the offers, but maybe consider weighing the long-term career growth potential and personal fulfillment each option offers. Good luck with your decision!
First of all, congrats on building something that VCs are FIENDING over! Don’t downplay that traction, it’s a golden ticket. Here’s what I would do if I were in shoes, let the VCs know about your experience, just maybe, they are cool with a co-founder with more experience. Also, looking for like minds and building a team in your country is a great idea. Local Devs are awesome and can also help you fill up those gaps in your experience.
If you don’t mind my asking, what country is that?
It depends on what you think.
Go with VC. This kind of opportunity is extremely rare.
Scale the startup, leverage VC interest, defer the MSCS.
Speaking from a position of working directly with VC’s, If you already have traction (strong market signals), and investors are seeking YOU (not the other way around), you are onto something so stay the course!
If you would like a quick chat feel free to reach out to me.
You’re facing a challenging decision, but it’s great that you have options. If you’re considering the MSCS program and are worried about the loans, think about the long-term ROI. An education from a prestigious university could open doors internationally, not just in the US. Yet, if your startup is gaining traction, it could be a life-changing opportunity, and venture capital could help it grow rapidly.
Try weighing the potential outcomes of each path. For the startup, consider the market potential, your passion for the project, and what support you have. For the MSCS, think about the career opportunities post-graduation and the financial implications. You could also reach out to mentors or professionals in both fields to gather more insights. Remember, there’s no right answer—just the one that aligns best with your values and vision for the future.
Just to make sure you have your fundamentals squared away, some links on startups:
[Khan Academy’s life of a company from startup to bankruptcy](https://www.khanacademy.org/economics-finance-domain/core-finance/stock-and-bonds/venture-capital-and-capital-markets/v/raising-money-for-a-startup)
[Joel Spolsky’s equity guide](https://gist.github.com/hrishimittal/9adcfe04eda1e847515a)
[Neil Stephenson’s business plan chapter from Cryptonomicon](https://appliedabstractions.com/2004/04/26/how-to-start-a-business-the-stephenson-version/)
[The missing semester from CS degree programs](https://appliedabstractions.com/2004/04/26/how-to-start-a-business-the-stephenson-version/)
And since you freelance:
[Mike Montiero’s F@ck You, Pay Me](https://youtu.be/jVkLVRt6c1U?si=jkhDWu9NNg_WB43Z)
Unless those mind boggling numbers would be guaranteed to end up in your personal bank account you need to prioritize your long-term future.
Focus on worse case scenario outcomes, and avoid the ones hurting your long-term future the most.