Thread: Solo Internet startup?

Well, here's the situation. I wan't to start my own internet start up by myself. I wan't to impress my dad by gaining my own wealth instead of just mooching off of his.($5 Mill+) I've never really wanted to have a partner.(other then coder for hire)

But then I read articles saying that Internet start ups are better, grow faster, easier, more successful with multiple partners.

Right now I'm committing a lot of time learning web development from HTML to MySQL.

What should I do? Btw, I'm only 16 years old lol

Go to college, get good grades, party.

Originally Posted by JackEdwards

Go to college, get good grades, party.

I reallllllly don't want to go to college. 4 years is a lot when time is finite.

Originally Posted by CallMeWonder

I reallllllly don't want to go to college. 4 years is a lot when time is finite.

Your young.. when you realize money does not matter, you will understand.

It is all about experiences... College is an experience.

wow college was definitely the experience for me! I suggest going to college but do the internet startup while you're there. It's great to know that you have this knowledge with you already. Wish I thought of this at your age! Besides, I'm sure good grades will put a smile on your dads face as well. Unless you are Asian :O

I am going to have to disagree with Jack on this, although I respect him a lot.

College is a waste of time and money unless you have a specific purpose and requirement for going. If you want to be an Entrepreneur, skipping college will put you $100k and 4 years ahead of the game...

Personally, I think that having a partner can be a good thing, but it absolutely has to be the right fit - you can't force it. If you find the right partner and business, do it. If not, don't worry about it.

At 16 years old, you will have a lot to learn. The best advice anyone can give you is to just put yourself out there and start trying things. You will fail, it is guaranteed. But you will learn in the process, and you'll be much better off for it.

Originally Posted by JackEdwards

Your young.. when you realize money does not matter, you will understand.

It is all about experiences... College is an experience.

I would listen him, hes been there and done that. IMHO, if college is paid for I would go, going into big debt to go to school is another story. Study something useful and start your business while your in school or now. In todays economy if you dont have a degree your out of luck for most jobs, if you ever need to get one. Many people have started successful internet startups in college and you'll meet people who maybe could help you for minimal cost. Hes right, in the end its all about experiences.

Go to college, speacilly if you dont have the problem of gettin in debt and all that BS

If you are right now studying IT , why not to get a degree on it? Or Management or whatever you choose.

Work hard, play harder, speciality in that years, I heard a podcast were MJ talked that one of the few things he would change in that time (he also went to college) is to party more in those times.

Go for it!

Dont let drama "crisis" tell you what to do, go for it!

Your dad has $5 mill?!?!

I agree with Jack: go to college, bro. I know time is finite, but let's be real: if you die partying, then you die having fun. And if your dad is paying for your education, might as well take advantage of it.

Get good grades, and if you are being paid for, you won't need to get a part-time job like the rest of us. And if you don't need to get a part-time job, you can work on a business while you are in school (when you are not partying or doing schoolwork). You may need a little bit of money to start a business, but that's what rich daddies are for.

And I thought I had lucky beginnings...

You are 16 and I remember myself being extremely entrepreneurial at 16 as well. I don't remember many of the hustles I did, but I do remember the girls, the heartbreak, the fun times, the London summer of gigolism, the university friends, surfing, travelling and loose women , LOL, will always remember those times fondly even on my deathbed.

Socialise when you are young, have experiences, travel, enjoy life. If you are entrepreneurial, you'll have time to start in business in your mid twenties.

1. College does not cost 100k unless your going to an Ivy League or overpaying for a private college!

2. Don't forget College Loans/expense includes living expenses and food! I racked up 30k of debt over 4 years. I don't think I could of gotten by much cheaper either way.

3. As Jack said, life's about experiences, not money!

Cheers

Wow thanks for the wisdom guys!! Really appreciate it.

Originally Posted by roark

You are 16 and I remember myself being extremely entrepreneurial at 16 as well. I don't remember many of the hustles I did, but I do remember the girls, the heartbreak, the fun times, the London summer of gigolism, the university friends, surfing, travelling and loose women , LOL, will always remember those times fondly even on my deathbed.

Socialise when you are young, have experiences, travel, enjoy life. If you are entrepreneurial, you'll have time to start in business in your mid twenties.

What a terrible avatar pic.

I didn't attend college but wish I had for the experience - that being stated - if you want to do your own thing - then do it - don't waste it at a college. You'll make connections possibly, and maybe learn a thing or two - but it isn't a requirement to be successful.

Originally Posted by T&R

What a terrible avatar pic.

Are you insulting my good looks? That's my passport photo, you brute!!

Hey man,

Startups are better with multiple partners IF (BIG IF) they together create a great team. A solo entrepeneur with an A+ product will almost always lose to an A+ Team with a B product.

Once again, the partners have to form a great team. Don't get partners for the sake of having partners, that will end badly.

Seattle has a good Startup scene, you should focus on networking with other like-minded individuals. That's how you can build a great team.

As for all of this talk about College, it's can be worth it but it's definitely not necessary. I dropped out of college my Sophomore year to start a company that did 1 million in revenue in it's first year. I made a lot of money and my college experience didn't get me the opportunity, I got it networking online. Fast forward to today, I recently left my Startup and i'm looking for other opportunities. Will I go back to College? hell no.

Having said all of that, it's worth it to get into a top-tier college just for the networking (building a great team) opportunities. Look at how many great startups came from Harvard/Stanford/Yale students.

Best of luck to you. You're only 16 and hustling... I love it.

-Nick Kneuper

Originally Posted by nkneuper

Startups are better with multiple partners IF (BIG IF) they together create a great team. A solo entrepeneur with an A+ product will almost always lose to an A+ Team with a B product.

Once again, the partners have to form a great team. Don't get partners for the sake of having partners, that will end badly.

This makes a lot of sense to me. Does anyone have experience or advice on how to best arrange a partnership? If I get a partner onboard for a new internet start up (website linking sellers with buyers) would you suggest to draw up a contract right from the start clarifying revenue sharing later on if the business succeeds? Would you get a legal professional involved to draw up an agreement before even starting developing anything? Or do people typically sort this out once the business is running and actually generating profits? Any hints or thoughts would be greatly appreciated!

CallMeWonder - I disagree with most of the comments above except nkneuper. I have a similar story to him/her. Do what you want. Don't listen to people just because they're older. Older people will be coming to you for advice and working for you. Get experience.

As a graduate of a competitive school, and knowing others, it's definitely NOT something I'd recommend for entrepreneurs.

Learn whatever you want on the internet and just in time. Cookie cutter college educations are old school and only if you want to get a specialized job (like law or medicine that require degrees) or require specialized knowledge.