"I just got into Harvard Business School; I'm debating whether I should go or whether I should start my own company. What do you think?"
This isn't a debate, this isn't even in the same hemisphere as a debate. What this is, however, is the second installment of Sure Signs That You Are Not An Entrepreneur. The first one dealt with whining over a low stock price; this one deals with the angst of having a perceived tough choice to make.
I've been asked this exact question (with different school names) many times over the past few years. What is my typical response? "If you have to ask, you can't afford it (the risk/pain/emotional turmoil of going to a startup)." Why? Consider a few salient points:
- in order to get into business school, you have to spend ~2-3 months studying for the GMAT (assuming you are holding down a full-time job)
- add another couple months to get your results back so you have an idea where to apply
- add another 3-6 months (?) for the application process, acceptance letters, etc.
All told, you're looking at 6-12 months of actual effort, to say nothing of the costs involved (both time & money). Face the brutal facts -- you wouldn't have chosen this path if you truly wanted to start a company. If you had, that hot startup idea in the back of your head simply wouldn't have let you sit still long enough to crack the books for any length of time. Maybe it's natural selection at work (see, e.g., Michael Dell, Bill Gates, Steve Jobs, etc.).
So stop agonizing over your perceived difficult choice and console yourself with the fact that you'll be able to call all your buddies after your shoot your daily round of golf and ask them "how's cube life these days?" (hint: they stop picking up your calls after the third time ...)
