What Should I do?
Hi Everyone, looking for some advice in terms of entrepreneurship. I really want to make a lot of money, like a lot. I always have and have always had a entrepreneurial streak. I am 20 years old and I am studying Business and Economics at a “Ivy League” equivalent university in my country. I’ve just started, and have 3.5 years left in my degree.
I previously ran a small dropshipping website at 16 selling ring lights during the pandemic, and tried to learn to trade currencies from ages 16.5-18. I failed in both, dropshipping could of worked but in retrospect I positioned myself wrong in the market and my ad creatives were poor. Currently have about 2.5K saved and have made 11K since the age of 16 from part time jobs. (Most of that money is gone on discretionary spending). I have no debt, and live with my parents. (Europe Based)
I see that most startup founders have technical backgrounds. I have 0 technical experience. But recently thinking about business ideas I find that the idea I had been thinking of was started 5-10 years ago, examples are AirHelp and Wyscout.
Moving on from here should I:
A) Just focus on my studies and work a part time job on the side.
B) Put my focus into “side hustles” (business with small-medium earning potential) and potentially move onto bigger business in the future. - I have a few original “side hustle” ideas (earning potential of 50-100K+)
C) Keep thinking of bigger business ideas that can be VC backed, and attempt to learn to code on the side (I’m not a techy person)
D) A blend of all the answers
Sorry if this whole paragraph comes off as juvenile, but I’m starting to realise I need to have some success soon (doesn’t matter the size) in order to keep pushing after this goal.
If you have a tech business you need a CTO. So your idea will need to be really good for you to bring in a developer as a partner, and you’ll need to bring equal value to the business too, which may prove challenging.
Learning to code is a good option. If you like coding, it will be a breeze, if you don’t, you’ll hate it.
Think about how you can bring value to others. Value = money
If you think your previous ventures failed because your ad creatives were poor, I would suggest spending time at getting better at that specific skill, so that you can try again and not have that same weakness. Best case scenario you meet great success, worst case scenario you learn about a new weakness to target for improvement!