Leaving finance to pursue entrepreneurship? Advice needed

Hi guys,

Long time lurker here, using a burner account. Will keep my background elusive here to not doxx myself - it doesn't matter too much. In my very early 20's, coming from a tier 1 school, with tier 1 internships (I know IB, I've done the 80-100h weeks for over a 12 months in total) and an incoming summer, which was supposed to be my 'dream' summer.

In the past few months, I've built a solid bootstrapped business now already generating over 150k USD revenue per month, with 15-25% margin before taxes. What I like about my business model model is that, while there a keyman risk, it is rather stable and can run an autopilot + lots of room for scaling. There is definitely the market to get to 500k-1m/month in a few months, without anything major in the way but time.

Now: I have summer starting in a few weeks. Was my dream job. But I'm thinking about dropping it altogether and focussing on my business.

I got into finance backsolving for a problem: how can I make good money, without taking huge risks, while doing something I like. And I had found a 'solution' to that problem, though that solution still involved back-breaking hours. And my excuse for not doing entrepreneurship has always been the risk factor: I like to de-risk, and don't want to be one of those many founders working 10y to exit their company at a mere 3 million valuation with 20% of equity left after VCs ate their meal, leaving them empty-handed. Let's not even talk about all the other ones who just fail.

And frankly: I'm not sure my business model would survive for more than 2-3 years. I want to stress that. One company's change in TOS could theoretically kill my business. Theoretically - I estimate the risk as quite low. But I'm quite certain I could probably scale it hard enough to juice out a million out net out of it at least. And it may very well last much longer or make much more in the meantime. Translation: I have FOMO and want to focus on this ASAP, seizing the opportunity.

I'm telling myself that I should just go all-in, cash out, and that after that, I'd be chillin:
- My school + experiences + entrepreneurship experience would probably mean I'm still relevant in the job market worst-case, I'm learning bunch of stuff relevant to classic corporate jobs
- I already have enough cash on hand to live 2-3 yrs in a low COL location and could be living frugally while I accumulate at least 1m, which would give me a security cushion to start new companies from scratch while having the freedom to fail.

On the other hand side, lots of relatives think I'm nuts for leaving my 'dream summer' on the table; telling me that the job market in extremely hard right now, and that I should at least do the summer, and if I get the return, I have one year to focus on my business in between.

For context on the summer: the hours are not that bad (probably 14h of work every day with free weekends, though I'm starting to realize this is still insane), the pay is good, the work is interesting, the 'prestige' is good and so is the culture (apparently, lol). All in all, it's honestly a sweet gig for finance.

Here's the catch:
- I've long decided I didn't want to become bald at 30. I have already refused FT BB offers for that reason. I'm starting think I also do not want to live in being in an office, working my ass off to make shareholders rich to someday, maybe, eventually, get a chance to get a huge carry. I'm having the impression that a lot of conventionally 'successfull' people actually have one regret at the end of their life: not spending enough time with their family, and working too much
- Making this money recently made me realize that it actually doesn't change shit in my life. Admittedly, I am privileged, but am also not living an extravagant lifestyle at all and my spending habits did not change one sec from before. I'd probably be equally happy in a normal job with normal hours/pay if the work is interesting. 
- I also believe I'm cut out for entrepreneurship (had already had ventures in high school), but that I was just afraid to embrace it given the risk factor that I now believe is under control
- The opportunity is here now, the space is competitive, and I don't want to let my moat erode for two months while I'm busy doing IM's for a job I'm not even sure I want anymore 
- I'm not sure I would get the return (about 50% return rate) given I would still work a bit on my business during the internship and probably wouldn't be super hyped and driven for it.

In the end, this still feels like a huge jump in the unknown, and while I think I know the answer, I'd appreciate to hear some opinions, whatever they may be. Happy to be convinced I should do the summer

Edit: summer is gone. Will let you guys know of it goes in three months from now. 

10 Comments
 

Thanks for your offer - I have a short cash cycle and low capex, I don't believe I need an investor at the moment :)

I mean I actually like it but I'm not a 'PHD' and don't really care about the whole social prestige.

I'm a very curious and can find interest in almost anything, and finance included. I am actually very interested in what I was going to do, and it was definitely a 'passion' choice, over more other more standart finance paths.

Generally, I enjoyed the 'easiness' of finance at entry-level (just go to your job, sit yo ass down, work like a monkey, get food delivered, come back in a cab), and could definitely do a few years like, especially if I get 8 hours of sleep. But I don't see myself doing to hours long-term, and have the impression that while the hours improve, the pressure becomes soul-crushing at some point (especially IB and buy-side)

 
Most Helpful

Bro just validate your assumptions on the market segment, competition, cost structure, and your value prop and if you're still certain you can scale quit the job and go all in. Scaling profitably as much as possible is a good move. you can probably sell your business and get a sweet payout if you want assuming your profit margins and net income is high.

Or do you want to sit in a cube for 40+ more hours a week for the rest of your life lol??

 

I would do the summer. Worst case, you dont get a return from not being focused and your doing what you want to do anyways. Then, if your business fails you have that experience to fall back on and have a valid excuse as to why you passed it up. 

 

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