Need some advice from entrepreneuriral minded people!

[djs13]

I don't have a mastermind group at home, so I'm seeking some help from my fastlane friends since they have the closest mindset to mine. After over two years on this forum, I think I'm making alot of progress in terms of business. But I'm in a pickle with the non-business aspect of living.

Here's my situation:

I'm 18 and I am finishing my second semester at community college this December. I'm very eager to leave home and get away from my community college scene after one year of attendance, so I applied to two state schools in October. I didn't do so well in high school or on the SATs, but right now I have a 3.4 GPA at CC. The good news is, I was immediately accepted in the second choice school. Unfortunately, I was denied by my #1 college.

There have been countless threads about college and its importance, but my Dad is a manager at a large corporation and my mom is a school teacher - so education is huge in my family. To say they have a different mindset than me is an understatement.

I chose the state school route because its about $6k a year which is affordable for me. But my parents became extremely bummed when I didn't get accepted in my #1, and now they aren't approving of the college I did get accepted into. And the truth is, I know the college that accepted me was extremely easy to get into - that's why it was my Plan B! It's far from a good school in terms of education quality and if I go I'll be living off campus because the dorms are awful. And I'm disappointed as well about not getting into my #1 school because it is extremely affordable and is literally called the "Ivy League School of SUNY."

But here is my problem: I don't want to return to my current community college because it's depressing and basically high school part two. But my parents aren't digging the school I got into and deep down I know it's not a good school, but it's a diploma at the end of the day. After all, I have a friend who got his bachelors at Wharton and Masters at Harvard - and is currently unemployed. I've got a different game plan than the rat race, so I'm not sure if a prestigious business school is necessary.

But the truth is I really don't want to stay home for another semester and it's too late to apply as a transfer student to any other colleges. So my choices are either go to my backup school, which is about three hours away, and get an apartment while starting my new venture. Or do something out of the norm, like take my savings and move away. Possibly to somewhere warmer and either take the semester off and work; or work and attend a different community college in a more urban area. I have about $5,000 in savings, which would drain my start-up funds but it would give me a start on my own.

Would you mind throwing in some advice? I'm asking my friends on this forum because although I have other goals, my most important goal is to enter the fastlane. I'm interested in taking the steps necessary to get closer to reaching this.

 

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[Runum]

No one knows what you are going through better than yourself. You will save a huge bundle of money by living with your parents as long as possible.

You need to narrow down your options and the pros and cons of each. You also need to show your options to your parents to see where their support is and where it is not. You need to figure out whether their support is something you need, want, or can live without.

So list your options....

Option 1: pros cons

Option 2: pros cons

Option 3: pros cons

 

[maximus20895]

Your story reminds me of me in present time. The first semester of college I went to TN Tech and I hated it. Then the next semester as well as the current one I am going to a community college. Yes, community college is like high school part 2. I couldn't agree with you more.

Like your parents my dad is some manager at a rapidly growing company and my mom is also a teacher so I understand what it is like when you say your parents are disappointed.

I also have a strong desire to get out of the rat race that the common American public fight to achieve. I don't see any advantages over the rat race vs retiring early so I am with you on the mindset view as well.

You said that your parents was bummed that you didn't get into your first choice of college. Do you know what your parents what you to do instead? It also seems to me, by your writing that you really don't want to go to the second choice college in the first place and you are somewhat trying to convince yourself to go.

If I were you, which I kinda am since I am in your position, I would stay at the community college to get the basic core classes down and then re apply to your first college choice as well as other colleges you might enjoy.

 

[joeybags73]

Hey djs13,
It's good to find another New Yorker on this site. Your situation sounded like mine about 15 years ago. I went to SUNY and then ended up doing a masters at Syracuse. I didn't get the entrepreneurial bug until just recently. The business degree helped alot as far as forwarding my career goals at the time, but the way the whole global economy is at this point college might not be the answer right now. I just see young people coming out of school and then going right back into it to get a higher degree because there are no jobs. They're waiting out the storm but the way things are going its going to be harder to find work. Plus, there will be more stress in their lives as they will now become saddled with thousands in student loan debt. You're young and have alot of years to figure out what you want. There's nothing that says you need to work on that Bachelors now. You could try your hand at a business. If you've got a thick skin I'd say go for it. You'll make mistakes and learn things the hard way but you'll be better off than a whole lot of other people.

Ultimately, it's up to you. You should look into motivational speakers like Jim Rohn, Wayne Dyer, and Tony Robbins. They talk about writing down your goals and following your passions in life. I listen to them and take only what I think is valuable and discard the rest. Make a list of your interests and what you think you'd like to do to make money. Then go for it. You've only got your time to lose, and you've got alot of it. Don't waste your youth. Most people coming out of college don't know how to do a damn thing. They can't even change a tire. It's all theoretical. Learn skills that people will pay for. Some examples are carpentry, locksmithing, auto mechanics, plumbing, or just about anything where you have to repair something. People pay top dollar for people to fix things because most people can't be bothered to learn it themselves. They'd rather pay someone else. I know a guy who used to have his own contractor business. He is a jack of all trades. Charges $100 just to walk into someone's front door. Whatever you choose make sure you like it. Become an expert in it.

Good luck

 

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[Driven28]

Here's my knee-jerk reaction to your situation...

I haven't read through what your fastlane plan is, but depending on what it entails, I think this is sound advice.

Stay in school and try to keep your savings intact. DO YOUR DAMN FASTLANE PLAN, AND DO IT NOW!!

No but seriously. Most plans, in some form or another, have been started by someone, somewhere, and have become successful. All it took was your level of awareness, matched with a strong desire and work ethic to do what it takes, even it means staying up late and waking up early. There will come a point in your adventure where it becomes apparent that you need to make a DRASTIC change (IE Mark Zuckerberg heading to Silicon Valley with Facebook, or Bill Gates dropping from Harvard, etc).

Until then, you will have your backup plan working for you in the background. And hey, you're time should be easier to manage since you're not attending a super-demanding ivy type school.

Forget what your parents think. At the end of the day, unless you have a wife and a family of your own, your dreams come first. I say that with respect, don't use it as an excuse to mistreat or neglect them. But simply know this: A LOT can change in only 10 years. There will be more distractions and major life events than you can imagine right now by the time you're 28. To be as focused and informed as you are today at 18 is a HUGE competitive advantage.

Example: I was like you at 18. I was a bit limited because baseball was my life passion and I put most of my waking moments into it, even through college. However, I was focused on learning business on the side as my "backup plan" in case I didn't make it to The Show. I was never committed to college from an education standpoint, only from an athletic one. I knew entrepreneurs didn't need it, so neither did I.

Unfortunately, I somehow ended up in MLM for my spare time activity, and I was CERTAIN that it was the right place to be when my athletic career came to a close. Wow was I naive, BUT I got a fantastic education in networking & sales by the time I figured out that MLM as an industry is.. ahem..excuse my french... F*ckED!

Anyway, what's the point you ask? Since I was your age, in only 10 years, I have been married, divorced, lived in 5 states, had a child, dated a crazy coke-head stripper (who wasn't a crazy coke-head stripper when I met her), lost a parent to cancer, held several slowlane jobs, and list could go on for a very long time. I WISH I would have concentrated my energy into a TRUE fastlane business when I was able to focus ONLY on that when I was your age. I would have started it while I was in school, and continued after I got out... just like I did with MLM... but I'd probably be in a much different position financially today had I been as informed as you are today.

Take whatever you have, or whatever you're thinking about doing, and just do it. Stay in school while you start, and see what happens from there. Just like the Bill Gateses and Mark Zuckerbergs, you'll know if the time is right to bail. I challenge you to see if you can do this, and start your fastlane story without tapping out your savings $.

 

[Driven28]

As a quick addition that I forgot to mention...

While at school, I'd focus on meeting people and staying out of debt. Don't fall in the trap so many other students do. You'll be very sorry when you get out.

Build a network of peers that think like you do, even if it's just a few. Meet the professors and administrators who are different than the rest. The one's who strike you as having some fastlane traits. Use this extremely social part of your life to your advantage.

 

[djs13]

Wow! Thank you everyone. There is so much good advice in this thread.

It's not so much that I dislike the second college, it's just that I was expecting to get into my #1 because of my college GPA and extracurricular involvement. But it's okay that this didn't work out, because I've had a revelation:

My #2 college is in a pretty rural area, and it's not exactly going to be a huge challenge to me, but in a way this might be an advantage. As Driven said, I'm not going to be an Ivy League student which will allow me to have an easier course load - thus giving me more time to launch my fastlane plan.

And I agree with the advice about living with my parents as long as I can, but my parents will be paying for the apartment/education fees at SUNY - so it's almost the same between living here for another semester of CC or moving away to SUNY.

I appreciate everyone's advice. This helped me tremendously!

 

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[MJ DeMarco]

College degrees are so overrated it makes me sick. However, college experiences are UNDERRATED. My advice is to stay in school, (go to the school that best fits your needs AND you can afford!) work your Fastlane plan on the side, try to keep the debt to a minimum, and live college for the experience it is ... fun, relationships, growing, discipline, time-management... as for your parents, you might not be able to change them ... but IT IS YOUR LIFE AND YOU HAVE TO DO WHAT MAKES YOU HAPPY. FOLLOW THOSE PASSIONS!

 

[hatterasguy]

Do what you have to do.

I went to school and worked fulltime towards my goals, and at some crap jobs to pay the bills.

I just wouldn't get into debt. You may love a $35k a year school, but if your paying for it with student loans its going to bite you when you graduate in 4 years. Whatever school you decided on just make sure you can afford it without getting into a lot of debt.

 

[Gymjunkie]

College degrees are so overrated it makes me sick. However, college experiences are UNDERRATED. My advice is to stay in school, (go to the school that best fits your needs AND you can afford!) work your Fastlane plan on the side, try to keep the debt to a minimum, and live college for the experience it is ... fun, relationships, growing, discipline, time-management... as for your parents, you might not be able to change them ... but IT IS YOUR LIFE AND YOU HAVE TO DO WHAT MAKES YOU HAPPY. FOLLOW THOSE PASSIONS!

Gotta agree. Stay in school, but definitely work on your Fastlane plan, network and when the time comes, quit school (if it necessary).

Cheers

 

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[maximus20895]

No doubt on the debt with school. My dad's co-worker's daughter went to Harvard to get a degree in teaching. She is now a teacher making at most 60k a year with a $240,000 bill from Harvard...