Yup

[theag]

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[intrigue]

I don't want to burst your bubble, but its best to start a business part-time and start making some money with it before you go 100% full-time.

You don't want to be making business decisions out of financial desperation.

And at the very least, you should really know your goals, market, product, or service that you want to build a business around before jumping in like this.

PS: But that is all hind-site. I would say that now, the best option is to do an internship with an e-commerce startup like you said. You will really learn how they run their business and get a feel from it from an entrepreneurship perspective.

 

[The-J]

I don't want to burst your bubble, but its best to start a business part-time and start making some money with it before you go 100% full-time.

You don't want to be making business decisions out of financial desperation.

And at the very least, you should really know your goals, market, product, or service that you want to build a business around before jumping in like this.

PS: But that is all hind-site. I would say that now, the best option is to do an internship with an e-commerce startup like you said. You will really learn how they run their business and get a feel from it from an entrepreneurship perspective.

Although that's what I'm doing, I am hesitant to recommend it to other people. Why? Because a start-up does require a full-time commitment somewhere down the line.

As far as the internship, do it! You'll get a good idea about how much the start-up phase sucks and rocks at the same time. If you can, get put on a sales position.

 

[JasonR]

Take the internship! However, I wouldn't look for a sales position. I'd like to learn from the guys building and marketing the site. Sales will be somewhat helpful, but most sales people in e-commerce businesses are nothing more than order takers. Although, most should sales people should have extensive product knowledge. I'm not knocking on e-commerce salespeople...that's where I started out.

Got a link to the e-commerce business you can intern for? Highly curious!

 

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[alanchavez]

I know how you feel,
My Literature teacher has just dropped me out of class because I missed 2 lessons in a row, a few hours ago I was really angry at her, right know I'm thankful because I was taking this summer class and I was barely sleeping and resting. I'll still be barely sleeping and resting, but with the difference that I will use that time working on my projects.

I also think that I would stay in school while settling the business

 

[theag]

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[theag]

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[theag]

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[theag]

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[DeletedUser397]

Good job standing by your decision. I wish I'd dropped out, and I had plenty of discussions with my parents who convinced my stick through it "so I wouldn't be the only one in my family without at least a bachelor degree." In the end, I ended up at a job where my most of my more senior coworkers never went to college, make more money than me, and are 6-7 years younger. My biggest regret in life I think is not dropping out and being as adamant about it. Oh well. Happy to see you were able to do it. Learn as much as you can. I think I wasted so much time in college "studying" for exams and not actually learning.

 

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[Eos]

Hey AG, well done for having the guts to dropout. I can just tell you are going to do great having been able to raise a 50k commitment whilst still in University - that's no small feat. How did you get an audience with the investors may I ask?

The EIR program you applied for sounds very similar what the RocketInternet guys are doing (the Samwer brothers that have cloned, amongst others Groupon, Pinterest, Fab and AirBnB in Germany) they take on and fund MBA's with salary & % equity to run their clone operations for them.
I was due to intern at the London office of one of the above this summer but that fell through due to changes they were due to make one week before I was due to start, so now I'm stuck for summer.
Should be motivation to take control of things and start on something myself this vacation eh?!

 

[theag]

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[theag]

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[EastWind]

I feel terrible for you. You are just establishing a track record for not finishing things.

If you had a successful business that is very profitable OR that gained ridiculous amount of traction in a short time with the future looking better, then sure, "drop out" and pursue them with all zeal. But as it stands. You really don't have anything at this precise moment in time. In my own humble opinion, dropping out was a bad idea.

 

[Pr7de]

Hey Theag! thank a lot for sharing this experience!
I am a student myself and I understand your feeling of studying much without learning anything. It feels very frustrating when you have to put so much time in something that doesn´t make you feel like you are making progress. Or atleast, that´s how I feel.
I´m very curious about how it will work out for you. I wish you the best of luck!
Looking forward to your updates.

 

[theag]

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[theag]

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[EastWind]

Thanks for your critisism.

But, have you read all of my posts in this thread? University actually hindered me in finishing things, because as soon as I got traction in my businesses (first investor committed / first few clients + profitable) I had to return to uni to write my exams (which I couldnt write on another date because of the university rules). For me it was the naturally right decision.

Of course you're right, I don't have anything right now. It would have been much easier if I had a profitable business running. But I have already tested the market with my business. Everything is still set up, I just have to start selling.

I read your introduction before I replied to you. Do you think that maybe you're biased against dropping out?

I dropped out. Maybe I'm biased against it. I don't mind dropping out, I believe it should be done with a solid reason. I'm not saying that college is the way, but if you are already in it and half way, might as well finish it. It's not easy going to school or working while starting a business. But that's what people mean when they say hard work, pushing yourself to the limit. I wish you the best of luck tho.

 

[theag]

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[InMotion]

I required an investment of €150k for the first 6-9 months. I pitched to some of the best known investors in the German startup scene and got a committment for €50k

Try something that costs 25k or less to get going. Easier said than done, but maybe find a scalable model like your first idea or reevaluate it. Will it REALLY take 150k euros to get going?

 

[MakeItHappen]

hi theag,
i am from germany nice to see other german speaking guys in this forum!
I respect your choice a lot and i think you will succeed this way and reach your goals! Just never give up and work your a$$ off!

I would like to know what it takes to get your feet wet in the german speaking startup scene. I heard from the EIR program and it sounds really great but i am not an expert in ether web development (like you are) and business administration. It seems like a degree in business administration is the least that is needed to have a shot. Besides the EIR program any other ways without degrees to get into the startup scene?
For a newbie like me the only way seems to be to build a business from scratch on your own and try to make yourself a name by succeeding with the business.

Would be cool to get a feedback from you! Also maybe we could keep being in contact via skype or whatever because it's nice to see likeminded german speaking people around here!

All the best!

 

[theag]

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[theag]

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[theag]

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