How about quit your job and open your own business?
Biden is going to increase tax for high earner, but not if you are a business owner. There are many ways you can still save tax when you are owning a business.
The upside for building your own business is unlimited. Look how many young people become billionaire through SPACs this year!
Surviving from tough interview and intensive work, building a profitable business isn’t necessarily harder. Looks like build your own startup is a better career path than work in a big corporation. People in finance who are high earners usually are risk takers, so shouldn’t they enjoy taking risk by operating their own business?
You need to have a strong grasp of business and taxation along with regulation. And a business usually doesn't pay of from day one like a job. Along with that the startup costs are a bit much for most.
Do you think experience from PE will be helpful for building my own startup? Thanks
Start-up cost are lower than they have ever been.
3-5 co-founders is typically the sweet spot. So the work can be allocated and spread.
AWS makes building platforms, suits, and applications extremely cheap.
Startup cost before seed or institutional funding is probably less than $15k assuming you have talent on your founding team to build the MVP.
If you are trying to develop hardware you will never get VC funding.
Building a real business is much harder than getting a job. To net $500k you need a company doing about $3m to $5m in revenue and that’s assuming you don’t invest too much in growth/have high working capital needs.
The above is totally doable but again, much harder the following a very clear career path with low uncertainty.
I think pursuing entrepreneurship is only something you should do if you’re ready to stomach the ups and downs.
Assume funding is not a problem, what do you foresee to be biggest challenge to start a company?
Thanks
This is a standard SWOT analysis question. The answer just depends on a lot of things particular to the company and industry.
This is sarcastic btw
Well, of course, But the day to day operations, sales and marketing and staffing.
Main thing is getting a viable plan and getting the MVP right.
If you could elaborate your field of interest. Then you could get a much better answer.
It's much different from making an investment, that's if you weren't an activist type of investor.
Wasn't there a thread about a guy who left IB and bought an advertising business for billboards along some highway in Kentucky? Not sure whatever happened but it was interesting none the less
Yeah that post was sick
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