Startup dilemma. Where to go from here.

Hey everyone- I’m in kind of a weird spot and I’d love your guys’ thoughts on the situation. I’m an incoming AN1, and over the past ~1.5 years I’ve been working on a fintech startup that started as an idea for a class project and has evolved into, at the very least, an exciting experience. My main partner in this is my Dad, which has been an amazing bonding experience. So far, we’ve secured enough F&F investments to hire a SWE team and have a functioning prototype built out.

It’s entering the stage where we will likely need to pursue professional investment, as the next phase will require significant capital. Here’s the problem: I really want to (and my father has been encouraging me to) stay very involved in this, especially because I think he wants the help if we’re going and presenting to VCs or whatever (not really his wheelhouse, although it’s totally not mine either as a recent grad). I think he thinks that my “IB background” (all two months and one summer of it) will help. But, I’m starting my analyst stint right now. I don’t really know how much time I can devote to this while on the desk, if that’s even allowed.

I’m kind of at a crossroads. We’ve discussed it and he seems to suggest that, in his mind, it’s fine if I “leave” for my IB role, but I won’t be able to be as involved in the critical stages that the thing I’ve spent so much time in is entering. On the other hand, I’ve worked so hard for my IB job and I don’t want to jeopardize my performance on the desk at all.

Honestly maybe I just wanted to rant / get this on paper. But I would appreciate any words of wisdom or thoughts. I just don’t like the idea of getting “left behind” at such a crucial juncture of the thing that I’ve worked so hard on (not to mention that it could be promising money-wise). Maybe I’m overthinking this, but anyways.

5 Comments
 

Currently a college student and not sure if my opinion would help or not. I would personally work the analyst stint in IB gain connections and more deal eperiance and then pivot back to the fintech startup and go balls deep. If that is an option to return, it sounds like that it needs help to grow and develop right now. Maybe take a step back and re evaluate the company. If you truly believe in the company and your idea, why not go all in and see what happens. Also, I would love to hear more about this idea if you could PM me. I'm also torn between IB and the start up aspect.

 

I had a venture-backed startup, left college for 2 years, and am now heading into my second year in IB

I'd only pursue the startup when you can validate it. Make sure you're making something needed, not wanted. Not saying you need PMF off the bat, but you should ensure there are many customers that would use your product (this is usually done by getting 5-10 customers and iterating based on real feedback). It sucks, but in 99% of cases if you're able to get real venture funding, you're probably on the right path and should pursue it -- its a decent indicator of success in a world where 90%+ fail

This advice is probably general but is coming from my b2b saas perspective

 

Thanks, this makes sense. We’ve actually done some preliminary market testing with focus groups and the feedback has been positive. The next stage would definitely involve further PMF testing for sure though

 

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