David Cummings on Startups

Learn, Earn, and Change the World

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David Cummings

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A popular question from would-be entrepreneurs is “What should I do next?” Should I join a startup to learn as much as I can, start my own company to try to earn as much as I can, or pursue a change-the-world idea I’ve always wanted to do? Mark Suster has a great post up titled Is it Time for you to Earn or to Learn? My recommendation is similar to Suster’s:

  • Join a startup initially, especially one with a successful entrepreneur or successful VCs (it’s always faster and easier to learn from a mentor), unless there’s the rare case where you have an idea you love and can bootstrap it or raise money for it in a modest amount of time (e.g. 12 months)
  • With several years of experience (e.g. 3 – 7) in the startup world, you’ll have had enough time to experience some ups and downs, learn what works and doesn’t work, and see a variety of business best practices. And, importantly, several business ideas will have emerged. Now’s the time to start a company.
  • Serious success has been achieved and now the part-time passion project can be turned into a bigger initiative with significant resources. Change the world projects come in all shapes and sizes.

So, there you have it: learn, earn, and change the world. Naturally, there’s no perfect route but it’s best to play the game.

What else? What are your thoughts on learn, earn, and change the world?

Comments

5 responses to “Learn, Earn, and Change the World”

  1. Chase Pursley (@gcpursley) Avatar
    Chase Pursley (@gcpursley)

    I have an alternative suggestion. Go work for in a traditional industry (non-startup) that you’re truly interested in for the 3 – 7 year period. This is where a ton of saas needs will pop up that go under the radar. And even if others in the industry recognize these needs, they don’t have the ability to execute. Someone with software development skills and working in an industry where they also gain deep domain knowledge has the opportunity to both see the needs as they arise and execute on them. This also goes together wite the build an audience first concept coming out of 37signals, Amy Hoy and others.

    Reply
    1. Chase Pursley (@gcpursley) Avatar
      Chase Pursley (@gcpursley)

      Yikes – that’s a lot of types. Need more coffee.

      Reply
      1. Chase Pursley (@gcpursley) Avatar
        Chase Pursley (@gcpursley)

        *typos* – sigh…

  2. angelf1982 Avatar
    angelf1982

    Wonderful position. Startups are hard. I am engaged in my part time passion right now. But my ultimate goal is to make this my full time job. Please visit my website sometime and give me some tips on how to become more successful. ACE Tax Solutions

    Reply
  3. dheerajsah Avatar
    dheerajsah

    I beg to differ here. For a graduate spending 3-7 yrs in startup may not always be fruitful. Because, it may depend upon the kind of work he is involved into. In most of the companies, new guys (for at least for 2-3 yrs) its just a matter of proving themselves else they will be thrown out.
    For their next run after that, they may not be directly involved for another 1-2 years into companies prime decisions.
    So, can you elaborate on why do you think and how can the early adopters of entrepreneurship will benefit out of that scenario? I might be missing a link though. I know there are few who even started as early as 2 years of experience in the industry. But may be, they were having great exposure to these thing during graduations Or they have just a brilliant idea!

    Reply

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