I got a nice email from an NYU student about being an entreprenuer. I thought I would share since they were great questions.
Q. I’m toying with the idea of quitting grad-school and going full-time on my 4 month old startup..what is your philosophy on the value of education in school vs education via building a business?
A. Building a business is always a better learning experience than grad school in my opinion. I guess it depends on how much longer you have to attend. If you are close, might as well finish it. Looking back I am glad i went to grad school because it motivated me to start allcountyjobs. But if you still have a few years left it might not be worth it.
Q. Do you think it’s possible to build a meaningful business in this modern age of automation without hiring anyone?
A. Yes I do think its possible. Lean startups are awesome. If you are building a SAAS model you can certainly make a living off it. It will probably be just a lifestyle business in terms of sales. Employees can be a pain to manage but you can do a lot with just 2-3 people these days. Look what Instagram built with just 10 people!
Q. What’s the hardest thing you’ve ever done as an entrepreneur?
A. the hardest thing I had to do was probabaly building up my business again after the financial crisis of 2008. I lost half my revenue and it took almost 4 years to get it back to previous levels. But i did it and was able to sell for a good price.