EPThttp://blakemasters.tumblr.com/post/24578683805/peter-thiels-cs183-startup-class-18-notes-essay
"Start Ups" Part 3: The Team Leader - Page 2
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citi.zen
2509 Posts
http://blakemasters.tumblr.com/post/24578683805/peter-thiels-cs183-startup-class-18-notes-essay | ||
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dUTtrOACh
Canada2339 Posts
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Setev
Malaysia390 Posts
On July 26 2012 06:22 Kumaki86 wrote: Being a student in the Business Managment (Accounting Major) in Canada and having come from a third world Asian-country where corporate culture is almost non-existence. I always have this conflict within myself that whether to finish degree, get a entry-lvl accounting job, work up the Corporate ladder just like the masses or quit school and do startup business just like my parents. After reading your posts, I see that you have already done what I've been contemplating to do. I'm curious as to what your answer would be based on your current experiences. If you were to do again, Would you go through the corporate ladder experience again? or skip it and dive right into startups? From your posts so far, I'm deriving that skills you picked up in the corporate world are not so useful on the startup side of business or actually operating your own business. If so, I'm just gonna quit wasting my precious time and dive right into doing my own businesess. And if you're interested in doing cross-border business with my country, let me know. My country is going through big big reforms. :D I'd like to share a motivational story with you regarding a friend of mine who started a company. This guy had exactly the same dilemma as you are having now when we were both studying accountancy in Singapore. He despised the corporate ladder climbing, hence he formulated a plan to start his own investment firm, because he likes the concept of "money making more money" - his own words. He shared the plan with me, and though it was very detailed, I was skeptical that he will succeed, due to the statistics regarding success rates of new start ups. However, we became partners when forming this company (I own 1% of the firm by being one of the dormant partners and letting him use my surname for the firm). Furthermore, IMO investments and trading activities are extremely risky. He graduated and held a regular office job for a while, before starting up the business. What's amazing is he managed to hold on to his day job while forming the company. Apparently he invests in the US equity markets, and the trading starts at 9pm Singapore time. Hence, no conflicts with his day job. I remember him making regular 5 figure US$ income from his 9pm to 10pm trading sessions, by playing with derivatives like options and CFDs. Now 3 years down the road, he is raking in money using a form of financing concept, which allows him to avoid charging fixed management fees on his clients. (I cannot say more due to confidentiality of the business model). He is now sitting on a pretty pile of net worth, with the firm making 6 figures income (revenue) on average, every month. I guess the moral of the story is to believe in yourself, even though initially no one believed in you. I think the key is to have passion for your business activity. No bullshit. As for me, I still think its pretty risky to play around with CFDs and options, even with all the "precautions" my friend claims to use like stop losses or something like that. I'm sticking with my day job for now, and am quietly identifying my passion so that I can build my own start up around it. The profit I get as a 1% minority shareholder certainly helps my capital accumulation, though (usually about the same amount as my monthly paycheck)...XD | ||
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Aerisky
United States12129 Posts
On August 10 2012 01:09 citi.zen wrote: If you haven't seen them yet, you may like Thiel's lectures on start-ups. Sample: http://blakemasters.tumblr.com/post/24578683805/peter-thiels-cs183-startup-class-18-notes-essay This is an absolutely fantastic read by the way. Whoa. Overall I'm still super excited by the knowhow section. So good  | ||
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ANoise
United States67 Posts
I learned that if I want to know about "Start Ups" I should read Reality Check, 43 Mistakes, and begin a systematic chapter-by-chapter analysis of the Richard Branson library. Atom why your class so hard, I'm already behind on the required reading! | ||
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