Having trouble deciding between college and a business

[Hermilio]

So, I'm currently in medical school. The employment prospects are great. The process is absolute shit and I sincerely would like my teeth plucked better than sitting a minute longer in classroom.

I posted my introduction here on last year's August. Since then, I've worked everyday on an information product teaching students how to study in 1h what's conventionally learned in 6h, while remembering forever. Made my first sale, and I'm currently preparing for the second launch.

But seriously, I'm going crazy. I can't stand this shit anymore.

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[Kid]

If you can afford to skip the school then yes.
If you can't - stay.

 

[Hermilio]

If you can afford to skip the school then yes.
If you can't - stay.

"Afford" is quite the concept.

In my country there are free medical schools at federal and state universities. When I was 17, I thankfully had the insight that it was not worth it to go half a million in debt for a degree - even if it was the "Great Degree of Medicine". So I insisted in getting in a federal medical school, and as a result have no debt to my name.

However, my business does not generate income. If I dropped out, I'd probably also be kicked out of my home.

I probably can find a job to sustain myself. It'd suck, but it'd be the first step.

 

[SEBASTlAN]

I'd get a job and build the business on the side.

 

[Empires]

What do you really want to do with your life?

After you answer that, what does it take to get there?

If college gets you there, then do that. If not, then don't. Do what you need to get you to where you want to be.

If that involves getting a job and getting kicked out and having to sustain yourself, then it's worth it and you'll be able to make it through the tough times because at the end of the day you are working towards what you really want.

 

[WJK]

So, I'm currently in medical school. The employment prospects are great. The process is absolute shit and I sincerely would like my teeth plucked better than sitting a minute longer in classroom.

I posted my introduction here on last year's August. Since then, I've worked everyday on an information product teaching students how to study in 1h what's conventionally learned in 6h, while remembering forever. Made my first sale, and I'm currently preparing for the second launch.

But seriously, I'm going crazy. I can't stand this shit anymore.

There are droves of us out there who have the degrees and haven't used them the way that our colleges and others expected us to... It's your education and you can use it the way you want to. I'd finish the education and then go do what you want.

I have a JD from law school. I never practiced law, but I use that education every day.

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[Kokaka]

So, I'm currently in medical school. The employment prospects are great. The process is absolute shit and I sincerely would like my teeth plucked better than sitting a minute longer in classroom.

I posted my introduction here on last year's August. Since then, I've worked everyday on an information product teaching students how to study in 1h what's conventionally learned in 6h, while remembering forever. Made my first sale, and I'm currently preparing for the second launch.

But seriously, I'm going crazy. I can't stand this shit anymore.

Welcome to the club.
Im in the same boat, med-student but in Sweden. School has gone to shit but business is going great.
Has taken a 1 year off from med-school to just focus on the business, best thing I have ever done.

If its possible in Brazil, I would advice to take a year of and focus on other things, if it works then great, if not you can always finish and become a doctor.
One thing I have noticed is 2.5 month of not studying and just focus on business has actually given me some motivation back to study medicine.

 

[Hermilio]

I'd get a job and build the business on the side.

It's a viable solution, and one I'm currently leaning towards.

 

[Hermilio]

What do you really want to do with your life?

After you answer that, what does it take to get there?

If college gets you there, then do that. If not, then don't. Do what you need to get you to where you want to be.

If that involves getting a job and getting kicked out and having to sustain yourself, then it's worth it and you'll be able to make it through the tough times because at the end of the day you are working towards what you really want.

Hey there, Empires. Saw your message and it got me into full reflection mode for about an entire day.

I'd like to thank you for your answer. It reminded me that no one gives a single F*ck about what I want - except myself. And in the end, how I provide value is my decision, and I reap my own consequences.

Your reply prompted me to revise my life goals and to redirect my thinking towards what I want out of life, and the process that will get me there.

 

[Hermilio]

There are droves of us out there who have the degrees and haven't used them the way that our colleges and others expected us to... It's your education and you can use it the way you want to. I'd finish the education and then go do what you want.

I have a JD from law school. I never practiced law, but I use that education every day.

I'm interested on your story, W.

If you please, I'd ask you to elaborate. What did you ultimately do with your degree as a JD? How did it help you throughout life?

 

[Hermilio]

Welcome to the club.
Im in the same boat, med-student but in Sweden. School has gone to shit but business is going great.
Has taken a 1 year off from med-school to just focus on the business, best thing I have ever done.

If its possible in Brazil, I would advice to take a year of and focus on other things, if it works then great, if not you can always finish and become a doctor.
One thing I have noticed is 2.5 month of not studying and just focus on business has actually given me some motivation back to study medicine.

Nice to see I'm not the only one who's in medical school and having these forbidden business thoughts. How is medicine seen in Sweden? Is there pressure from your family?

Yeah, it is technically possible to take an year off. I'm studying my options, and an year away could clear some misconceptions and give me certainty on what I'm going after.

Also had that moment which I missed medical school - but then it started taking time away from my business. That's the moment it started going downhill and got me thinking if I actually wanted to be an MD.

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[WJK]

I'm interested on your story, W.

If you please, I'd ask you to elaborate. What did you ultimately do with your degree as a JD? How did it help you throughout life?

I'm in the real estate business. I went to law school after my first family left home and I was in my early 40s, and it was in the early 1990s. I was a broker, commercial RE appraiser, and an investor. By the end of my first year in law school, I knew I didn't want to be an attorney. So, by the time I finished, I pivoted and became an expert witness & I did litigation support in real estate matters. When I was consulting, I made more money per hour than my attorneys. I still had to do my appraising to keep up my expertise. But, I had a blast during those career years.

When I finished my JD, I was under a lot of social pressure. I could have become a real estate attorney without having to stretch much. A lot of people around me couldn't understand why I didn't want to do that. They wanted me to buy the right car, the right house in the right neighborhood, and jump right into that role in the "perfect" office setting.

At that time I was on the road most days inspecting properties for my appraisals. I had a Miata convertible sports car and a small 4 by 4 pickup truck. I went all over to do my job. I wore shorts, T-shirts and tennis shoes when I did my field work. I picked my jobs -- where and when I went on a job. I was self-employed and very independent.

I didn't want to be confined in a law office where I never saw the sunlight. I didn't want to review contracts all day. Most of all, I didn't want to accept the velvet handcuffs -- taking on a lifestyle and the resulting debt that would have made me continue being an attorney -- working long hours to pay for all of it -- a prisoner in a gilded cage office!

Does that explain it?

 

[Kokaka]

Nice to see I'm not the only one who's in medical school and having these forbidden business thoughts. How is medicine seen in Sweden? Is there pressure from your family?

Yeah, it is technically possible to take an year off. I'm studying my options, and an year away could clear some misconceptions and give me certainty on what I'm going after.

Also had that moment which I missed medical school - but then it started taking time away from my business. That's the moment it started going downhill and got me thinking if I actually wanted to be an MD.

Medicine is a high status career everyehere in the world, but in sweden there is less pressure because school is free and you have a good life. The only pressure I had at first was from my brasilian wife because the mentality in south america is different. Its everyones dream to be or be with a doctor due to high salary, status etc., so I know what you go through.
From parents, it was more doubt and if I was able to do what I set out to do.
However what I have noticed is that once you show results, the pressure will go away.

But yeah, got the 1 year off idea from another med-schooler/entrepreneaur from Holland on this forum. Helped alot and glad I took the year off.

 

[WJK]

Medicine is a high status career everyehere in the world, but in sweden there is less pressure because school is free and you have a good life. The only pressure I had at first was from my brasilian wife because the mentality in south america is different. Its everyones dream to be or be with a doctor due to high salary, status etc., so I know what you go through.
From parents, it was more doubt and if I was able to do what I set out to do.
However what I have noticed is that once you show results, the pressure will go away.

But yeah, got the 1 year off idea from another med-schooler/entrepreneaur from Holland on this forum. Helped alot and glad I took the year off.

Like a wise man told me -- it's your education. Do whatever you want with it.

I know of twins who trained as doctors and surgeons. They hated it. So they ended up starting a company where they made tools for other surgeons. They knew what they needed for different procedures, so they designed & sold those tools.

This is your dog and pony show. Enjoy the ride.

 

[Hermilio]

I'm in the real estate business. I went to law school after my first family left home and I was in my early 40s, and it was in the early 1990s. I was a broker, commercial RE appraiser, and an investor. By the end of my first year in law school, I knew I didn't want to be an attorney. So, by the time I finished, I pivoted and became an expert witness & I did litigation support in real estate matters. When I was consulting, I made more money per hour than my attorneys. I still had to do my appraising to keep up my expertise. But, I had a blast during those career years.

When I finished my JD, I was under a lot of social pressure. I could have become a real estate attorney without having to stretch much. A lot of people around me couldn't understand why I didn't want to do that. They wanted me to buy the right car, the right house in the right neighborhood, and jump right into that role in the "perfect" office setting.

At that time I was on the road most days inspecting properties for my appraisals. I had a Miata convertible sports car and a small 4 by 4 pickup truck. I went all over to do my job. I wore shorts, T-shirts and tennis shoes when I did my field work. I picked my jobs -- where and when I went on a job. I was self-employed and very independent.

I didn't want to be confined in a law office where I never saw the sunlight. I didn't want to review contracts all day. Most of all, I didn't want to accept the velvet handcuffs -- taking on a lifestyle and the resulting debt that would have made me continue being an attorney -- working long hours to pay for all of it -- a prisoner in a gilded cage office!

Does that explain it?

It does.

Thank you for your story. It helped me have some clarity as to some other options available.

I'm still undecided about finishing medical school, but seeing the way you structured your own professional live was enlightening.

If you please, I would ask you how is your life today in the Law business. Did you keep going as an independent expert witness and appraising real estate? Did you ever see other interesting options?

 

[Hermilio]

Medicine is a high status career everyehere in the world, but in sweden there is less pressure because school is free and you have a good life. The only pressure I had at first was from my brasilian wife because the mentality in south america is different. Its everyones dream to be or be with a doctor due to high salary, status etc., so I know what you go through.
From parents, it was more doubt and if I was able to do what I set out to do.
However what I have noticed is that once you show results, the pressure will go away.

But yeah, got the 1 year off idea from another med-schooler/entrepreneaur from Holland on this forum. Helped alot and glad I took the year off.

Yeah, you've seen the Brazilian "point of view" in these things. The thing about "high salary and status" is real and most communities go crazy once they see someone not going down that beaten path.

It's funny because there are a shitload of new medical schools opening, and by the rate they're spitting out new doctors, the profession is not going up in value any time soon.

Also, thank you for the perspective about my parents. I also believe that once by business showed real results, the pressure and the doubts would naturally go away. Seriously, hearing that helped a lot, since it's hard to argue the "doctors make a lot of money and then you'll be free to do what you want" point of view.

Nice idea about the year off. If I decide to drop med school for the present, I'll try that out first.

Also, how did things go? Are you still in medical school? What kind of business did you build?

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[Hermilio]

Like a wise man told me -- it's your education. Do whatever you want with it.

I know of twins who trained as doctors and surgeons. They hated it. So they ended up starting a company where they made tools for other surgeons. They knew what they needed for different procedures, so they designed & sold those tools.

This is your dog and pony show. Enjoy the ride.

In my decision process, I've reached that point exactly.

I'm currently thinking whether I want this specific education for myself or not, and if it's worth the time invested (edit: and opportunity cost).

In the book "So Good They Can't Ignore You", the author introduces the concept of "career capital" - what the twins did was cash in their inside knowledge of the industry into a newer venture which would be impossible without their unique perspective.

I understand that through medical school, I can reach and understand some niches better than from the outside. Being an MD and possibly a surgeon could be the way into business-building insights on the customer need.

However, I still feel medical school to be as pleasurable as a prostate exam.

The current problem is deciding whether I want to :

• finish my education as an MD while building my business on the side (stressful, while dividing my focus and making me good at neither) or
• quit/take an year off medical school to focus exclusively on the business.

Thank you for your perspective. I'll do my best to enjoy my dog and pony show!

 

[WJK]

It does.

Thank you for your story. It helped me have some clarity as to some other options available.

I'm still undecided about finishing medical school, but seeing the way you structured your own professional live was enlightening.

If you please, I would ask you how is your life today in the Law business. Did you keep going as an independent expert witness and appraising real estate? Did you ever see other interesting options?

I did expert witness stuff and appraising until I retired. I haven't been very good at being retired. My husband and I lead a very modest, but busy life. We help a lot of people in our daily routine.
Now I own a mobile home park where I own the mobile homes as well as the property. I rent to low to moderate-income tenants. We have also developed some RV spaces that we rent in the summer and a couple of year-round sleeping rooms in the back of my office.
I buy privately held trust deeds secured by real property.
I sometimes buy a property, a note on something, or a thing for resale -- to flip.
I'm always looking for situations where I can make a limited investment and it has a huge upside. Most of those end up losing my investment nut, but the upside must be worth the gamble.
I use my education every day. I do my own legal work and it saves me thousands of dollars every year. I understand transactions and contracts on a different level from the people around me.
If I was in your seat, I'd finish my education and see where it leads. You never know where you'll end up.

 

[Kokaka]

Yeah, you've seen the Brazilian "point of view" in these things. The thing about "high salary and status" is real and most communities go crazy once they see someone not going down that beaten path.

It's funny because there are a shitload of new medical schools opening, and by the rate they're spitting out new doctors, the profession is not going up in value any time soon.

Also, thank you for the perspective about my parents. I also believe that once by business showed real results, the pressure and the doubts would naturally go away. Seriously, hearing that helped a lot, since it's hard to argue the "doctors make a lot of money and then you'll be free to do what you want" point of view.

Nice idea about the year off. If I decide to drop med school for the present, I'll try that out first.

Also, how did things go? Are you still in medical school? What kind of business did you build?

Yes Med-school can be tough and lead to burnout. Atleast for me it has helped to get some distance doing other things and get a new perspective. And also motivation is coming back now when I have told myself not to study. Sometimes you really need just a break.

Im currently on my 1 year break from medschool. Funny thing is, they will begin a new curiculum after summer so If I join in January next year again, I will be a doctor faster than if I where to continue now, so its a win-win, but lets see what happens with the business first.

I have 2 business at the moment and am looking to open a third.
I started to open an advanced beauty clinic.
Then I started another company which develop and sell machines to advanced beauty clinics. Sales was through the roof november-december to then stop.
The banks dont lease to theese types of business now during the pandemic so hopefully when its over, the sales will be back.
Im also going to open a third business where I franchise my concept of advanced beauty clinics.

If I where to choose, I would like to be a MD and do this thing with medical clinics. But we will see what this year bring. Maybe business take off or maybe I go back. Have 9 month left to decide.

 

[WJK]

Yes Med-school can be tough and lead to burnout. Atleast for me it has helped to get some distance doing other things and get a new perspective. And also motivation is coming back now when I have told myself not to study. Sometimes you really need just a break.

Im currently on my 1 year break from medschool. Funny thing is, they will begin a new curiculum after summer so If I join in January next year again, I will be a doctor faster than if I where to continue now, so its a win-win, but lets see what happens with the business first.

I have 2 business at the moment and am looking to open a third.
I started to open an advanced beauty clinic.
Then I started another company which develop and sell machines to advanced beauty clinics. Sales was through the roof november-december to then stop.
The banks dont lease to theese types of business now during the pandemic so hopefully when its over, the sales will be back.
Im also going to open a third business where I franchise my concept of advanced beauty clinics.

If I where to choose, I would like to be a MD and do this thing with medical clinics. But we will see what this year bring. Maybe business take off or maybe I go back. Have 9 month left to decide.

Having a Dr. in front of your name will help you. Good luck!

 

[Kokaka]

Having a Dr. in front of your name will help you. Good luck!

Yes it will help alot. Plus you will get knowledge to increase your business opportunities.

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[Hermilio]

Yes it will help alot. Plus you will get knowledge to increase your business opportunities.

Why do you think that holding a "Dr." helps you in business?

Frankly, aside from INSIDERS insight into the industry, having a certificate to your name does not seem to translate into business success.

Sometimes, the time invested in getting the little "Dr." translates into losing huge value-creating opportunities because you were studying for one more test.

Traditional education does not translate into real-life business skills.

 

[Kokaka]

Why do you think that holding a "Dr." helps you in business?

Frankly, aside from INSIDERS insight into the industry, having a certificate to your name does not seem to translate into business success.

Sometimes, the time invested in getting the little "Dr." translates into losing huge value-creating opportunities because you were studying for one more test.

Traditional education does not translate into real-life business skills.

Its the same way as dressing in a nice suit and tie. Practicly, it doesnt do much but people will treat you way better if you can introduce yourself as a Dr. Whatever and I can only imagen it will open doors that was preiviously shut.

 

[WJK]

Why do you think that holding a "Dr." helps you in business?

Frankly, aside from INSIDERS insight into the industry, having a certificate to your name does not seem to translate into business success.

Sometimes, the time invested in getting the little "Dr." translates into losing huge value-creating opportunities because you were studying for one more test.

Traditional education does not translate into real-life business skills.

It is obvious that you don't have a graduate degree. Yes, it has social standing. When I taught college classes, I used the Dr. designation in my name.

 

[Hermilio]

Coming back to thank you guys: You were right. Without the MD title, I'd not have gone far in my business of medtech.