4 Reasons Choosing Startup Life Over College Is Totally Worth It

Startup Life, Startup tips, YEC, Alex Schiff, Fetch NotesIn 2011, I wrote a post called “Why I Didn’t Get A Real Job” that got a lot of attention. Admittedly, it was a childish reaction to a relative’s assertion that I needed to go get a “real job.” After a few months of full-time entrepreneurship that same summer, I thought I was finally experiencing the startup life. Twenty-four-hour hackathons, no set hours, no boss — “Oh yeah!” I’d say, “let’s disrupt stuff!”

Okay, maybe I wasn’t quite the walking stereotype of Sh*t Entrepreneurs Say, but you get the point.

In April 2012, however, I sat at a crossroads: continue to just scrape by or go all in on my startup Fetchnotes. After a lot of internal struggle, five of us decided to leave the University of Michigan, and our journey eventually led us to TechStars Boston’s Fall 2012 class. With that decision 9 months in the rear view mirror, I’ve had some time to reflect on what really happens when you leave school to start a company.

1. Most people will never quite get you or what you’re doing.

When I talk to people about what I’m doing, I usually get one of these responses:

  • “So, are you, like, the next Mark Zuckerberg or something?”
  • “So is TechStars, like, paying you to work on Fetchnotes for them?”
  • “How long do you plan to do this before you get a real job?”
  • “How long until you go back to Michigan?” (As if it’s some sort of semester abroad program.)

The fact of the matter is, no one understands until they’ve been in the trenches. And that’s okay. It’s actually part of what I like about not being in Silicon Valley. Even in Boston, with its thriving entrepreneurial communities, most people I meet think what I’m doing is interesting. Maybe it’s an ego thing, but it provides a small dose of happiness every day.

2. All time is not created equal.

As you shed your other non-entrepreneurial responsibilities (like class), each individual unit of your time becomes more valuable.

You’d think it would be the opposite — when you have less time to give each hour is more precious, and there are diminishing marginal returns on your productivity. But in practice, when you have no other distractions, you actually become more productive.

As we dedicated more time and intensity to our specialties, this could be seen across all functions of the business. I became a more effective hustler. Our engineers became more efficient coders. The chemistry that evolves from a small team marching together all day, every day, in lockstep toward the same vision holds incalculable value.

3. Emotions are magnified — both the good and the bad.

Inevitably, there will be some crisis that rocks your foundation so greatly that you don’t know how to respond — and entrepreneurs are such good salesmen that most people have no idea there’s anything wrong. With no finals or homework to distract us, we walk around with a smile masking the internal disposition of a zombie. No one likes to admit it, but we tend to be emotionally unavailable to the outside world when it comes to problems in our startups. Just like parents, we never want to hear that our baby is anything but a darling prodigy.

But then, there will be days of pure, unmitigated ecstasy. You get two large investor commits in the same day. You get introduced to people who basically invented the Internet as we know it. You have two-hour whiteboard sessions with people whose theories you’ve been studying from afar. The press raves about your new release. You scream “YES!” and high-five anyone in your vicinity without explanation. You dance in place.

These are the moments that turn the Startup Bug into Serial Entrepreneur’s Disease.

4. The journey will be worth it in more ways than you can imagine.

Many more qualified people than I have espoused the virtues of starting a company over pursuing a traditional university education. But what makes it worthwhile are all the little things that mean so much more because you’re experiencing a level of career satisfaction most people must wait years for, if they ever achieve it at all.

It’s John-the-building-security-guard finally remembering your name and no longer making you sign in after three months of seeing you every single day. It’s finding out how many other people in your network have started using your product without you saying a word. It’s regularly enjoying team dinners and signing the check.

And then, one day, you look around at that very table of team members and notice that, for once, no one is talking about work. We’re reminiscing about a crazy adventure from the night before, or planning a concert for next weekend, or poking fun at each other’s dating lives. For the first time, you grasp the fact that the bonds you’ve forged would not have been so tight had you not convinced your team to take a bet on you, and more importantly, on themselves.

It’s the moment you realize that what makes you unique isn’t the pursuit of success, wealth or power. It’s that your mission in life is about the pursuit itself, rather than what you’re pursuing.

Alex Schiff is the founder and chief executive officer of Fetchnotes, which makes productivity as simple as a tweet. Prior to Fetchnotes, Alex was the vice president of Benzinga and a student at the University of Michigan’s Ross School of Business.

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons.

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Startup Founder Spotlight: Alex Schiff, FetchNotes

Alex Schiff, FetchNotes, Startup Spotlight, Founder Spotlight, Guest Post, YECAlex Schiff is the founder and chief executive officer of Fetchnotes, which makes productivity as simple as a tweet. Prior to Fetchnotes, Alex was the vice president of Benzinga and a student at the University of Michigan’s Ross School of Business. Follow him @alexschiff.

Who is your hero?

Aaron Patzer is one of the entrepreneurs I look up to most.

What’s the single best piece of business advice that helped shape who you are as an entrepreneur today, and why?

Optimize for speed, not cost. Your entire organization should be structured around how you can accelerate progress and learning. That $20 a month here or $50 there is NOT going to mean anything in the grand scheme of things, but if it frees up a few hours of your life, then it’s worth it.

What’s the biggest mistake you ever made in your business, and what did you learn from it that others can learn from too?

Not focusing on one thing. At one point, I was working on three startups, working for another, and still in school full-time. They all suffered from my lack of attention. I learned that when you’re a founder you need to be thinking not “What do I need to do today?” but “What can I be doing to advance my business forward?”

The former has a finite amount of work; the latter is limitless.

What do you do during the first hour of your business day and why?

I take care of all the little things. Respond to email, complete quick tasks, etc. I actually purposefully put off anything that will take more than 30 minutes until after lunch because then I know I have the longest period of uninterrupted activity.

What’s your best financial or cash-flow related tip for entrepreneurs just getting started?

You can make money in weird ways. We offered to sing karaoke to any of our users who donated money.

Quick: What’s ONE thing you recommend ALL aspiring or current entrepreneurs do right now to take their biz to the next level?

The best part about being an entrepreneur is that you get to choose who you work with — don’t take that for granted!

What’s your definition of success? How will you know when you’ve finally “succeeded” in your business?

Honestly, I have no idea. There will always be a new mountain to climb.

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons.

Check out Alex’s guest post, Here’s A Better Way To Ask For An Email Introduction.

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Startups Here’s A Better Way To Ask For An Email Introduction

Alex Schiff, Fetch Notes,Startup Tips,Guest Post,YECI ask for and receive a lot of requests for introductions. Whether it’s someone at a company looking for a partnership or job, an investor, a journalist, or someone else, it’s an integral part of pretty much any profession. At the same time, such requests often arise in the least efficient way possible for the middleman: in person, in the middle of another email exchange talking about the other party, or simply with no details at all.

Once I got involved in the startup scene with Fetchnotes, I found that the startup crowd has email introductions down to an exact science. I’m sure similar rules apply outside our bubble, but inside it there are a very specific set of expectations, and it was a bit cryptic and counterintuitive to pick up at first. But hopefully this helps you maximize the success of your introduction requests.

First of all, no matter where the request for an intro arises, always send a separate request email. That way, the receiving party can act on it directly (since most intros are over email). You’re asking someone to spend their social capital on you, so your number one goal is make it as easy as possible. Here’s how:

Hey Alex,

Hope all is well! I saw you’re connected to Mark Zuckerberg (contact) on LinkedIn. I was hoping to connect with him about a partnership (reason), the details of which are below. Do you know him well enough to make an intro (gives middle-man a way out in case they don’t know each other well)?

StartupWithFriends is an awesome new app that lets you start a company with your friends, right on Facebook (what you do). We have 150K+ active users, and on average they’re starting 1,000 companies per day (credibility + traction). We’ve been integrating with OpenGraph already (shows you’ve done work already, otherwise they often point you to their API page) but we think that we can make it a huge revenue driver for them if we get access to some of the data not available in their APIs, specifically the number of times a user looks at the profiles of their ex-girlfriends (basic benefits + needs outlined).

Let me know if you can make the connection. If not, no worries, I can reach out cold (shows them you have confidence that this is going to happen one way or another).

Thanks!
Networker McAwesome

When I receive an email like this, I forward it to my contact and ask, “Hey, these guys were looking to connect. Can I make an intro?” If he says yes, I make the connection. If not, I say I tried but he doesn’t want to talk. Unless you know someone really well (or know they are looking for such opportunities), you want to give them a chance to say no. Otherwise, they’ll feel obligated to take it and have bad feelings toward the person from Day 1. Not only is it just good etiquette to give them a choice, but it prevents the value of your introduction from being diluted too.

Is it contrived? Obviously. Does the other party realize its contrived? Usually. And yet I write every email intro request in this exact format because it does three really, really important things:

  • Makes it easy for the middleman to make the intro (just hit forward and type a sentence)
  • Gives the person you’re trying to get connected with a basic overview (so they feel more comfortable taking a meeting)
  • Limits the amount of aggregate back-and-forth.

That makes the intro more likely to happen, the person you’re trying to meet more likely to take the meeting, and most of all, makes the most efficient use of everyone’s time.

Happy connecting!

This post originally appeared on the author’s blog.

Alex Schiff is the founder and chief executive officer of Fetchnotes, which makes productivity as simple as a tweet. Prior to Fetchnotes, Alex was the vice president of Benzinga and a student at the University of Michigan’s Ross School of Business.

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons.

Check out our interview with FetchNotes here at nibletz.com The Voice Of Startups Everywhere Else