Don't do it. If your system is good enough, there will be demand for it, and you'll KNOW when the time is right to quit. Otherwise, you're taking a needless risk - you can have the same benefits without the risk just by making some clever decisions and delegating properly.
I'm not saying you're wrong...but there are some things about starting a new company that cannot be delegated. Like the strength of your own focus on one single goal.
It may not be the right time for him to make the leap, but there is always a right time to make the leap (or give up on the business or on entrepreneurship in general). Since he's asked us here, and seems to have put a lot of thought into it, I suspect he is now at that point. Thus it is not a "needless risk". It may be exactly the risk that needs to be taken, and it may be exactly the right time to take it.
Entrepreneurship does involve putting some skin in the game. It's not optional and you generally can't be a regular guy with a regular job, and also a big entrepreneurial success. At some point, you have to decide what you want, and go after it with vengeance.
Yes I am at that point... The problem is that I am now finally getting reasonable academic success. A lot of people want to collaborate on papers, projects, etc. And I must say these are some of the best researchers in the field. The only thing I am certain of is that I will be working on this NLI problems for many years to come. The question is which side of the fence will I land on. I can not keep riding the fence for much longer ... or, who knows, maybe I can ;-)
Philip Greenspun might be a good subject of an afternoon of reading for you. He went from academia to startup and back to academia. He's been pretty successful in both fields.
Randy Pausch, of "The Last Lecture" fame, talked about the subject in that lecture. Though he was coming at it from a slightly different perspective: become an Imagineer, which was a lifelong dream, or go back to teaching...he chose teaching. Working for Disney is not quite the same as starting a startup, though I imagine for some folks it would be the same kind of personal satisfaction...that of building something real.
I don't know that they've ever answered specifically why they made the decisions they made, but it couldn't hurt to get a feel for their thoughts.
Two other quick points, before I become a preachy bore:
1. If you're getting success in academia, you will probably also be able to get success in other fields, if you apply the same passion and excitement. The question shouldn't be "what will make me most successful?", it should be "what will make me most satisfied with my life?" As you get older, you'll recognize this more and more clearly...better to spot the trend early. Success will usually follow.
2. Academia, at least in technical fields, does not generally frown on success in the "real world". Success in business can be as good for your academic career as the papers you would have written and the research you would have done during that time. Again, follow your satisfaction and your excitement.
3. (I know I said 2...I discovered this one just now.) You will never be in a better position to take risks than you are now. As you age you collect responsibilities: Family, kids, parents needing care, mortgage payments, etc. These responsibilities are the things you can't risk to pursue your dreams...so, when you're older, you can't put as much in the game. You can still start a startup, or change careers, at any age, and experience certainly has benefits, but when it comes to risk, younger is better. Without family and kids, the risk is practically nil.
Those very people who want to collaborate with you are the ones who will send you customers. Use your university to drive customers to your product - when you go to silicon valley, you will be just another no-name with a big idea and some code. You have the name and rep right now, create your business out of that, and when your business is big enough, go to silicon valley.
Comments
Don't do it. If your system is good enough, there will be demand for it, and you'll KNOW when the time is right to quit. Otherwise, you're taking a needless risk - you can have the same benefits without the risk just by making some clever decisions and delegating properly.
I'm not saying you're wrong...but there are some things about starting a new company that cannot be delegated. Like the strength of your own focus on one single goal.
It may not be the right time for him to make the leap, but there is always a right time to make the leap (or give up on the business or on entrepreneurship in general). Since he's asked us here, and seems to have put a lot of thought into it, I suspect he is now at that point. Thus it is not a "needless risk". It may be exactly the risk that needs to be taken, and it may be exactly the right time to take it.
Entrepreneurship does involve putting some skin in the game. It's not optional and you generally can't be a regular guy with a regular job, and also a big entrepreneurial success. At some point, you have to decide what you want, and go after it with vengeance.
Yes I am at that point... The problem is that I am now finally getting reasonable academic success. A lot of people want to collaborate on papers, projects, etc. And I must say these are some of the best researchers in the field. The only thing I am certain of is that I will be working on this NLI problems for many years to come. The question is which side of the fence will I land on. I can not keep riding the fence for much longer ... or, who knows, maybe I can ;-)
Philip Greenspun might be a good subject of an afternoon of reading for you. He went from academia to startup and back to academia. He's been pretty successful in both fields.
Randy Pausch, of "The Last Lecture" fame, talked about the subject in that lecture. Though he was coming at it from a slightly different perspective: become an Imagineer, which was a lifelong dream, or go back to teaching...he chose teaching. Working for Disney is not quite the same as starting a startup, though I imagine for some folks it would be the same kind of personal satisfaction...that of building something real.
I don't know that they've ever answered specifically why they made the decisions they made, but it couldn't hurt to get a feel for their thoughts.
Two other quick points, before I become a preachy bore:
1. If you're getting success in academia, you will probably also be able to get success in other fields, if you apply the same passion and excitement. The question shouldn't be "what will make me most successful?", it should be "what will make me most satisfied with my life?" As you get older, you'll recognize this more and more clearly...better to spot the trend early. Success will usually follow.
2. Academia, at least in technical fields, does not generally frown on success in the "real world". Success in business can be as good for your academic career as the papers you would have written and the research you would have done during that time. Again, follow your satisfaction and your excitement.
3. (I know I said 2...I discovered this one just now.) You will never be in a better position to take risks than you are now. As you age you collect responsibilities: Family, kids, parents needing care, mortgage payments, etc. These responsibilities are the things you can't risk to pursue your dreams...so, when you're older, you can't put as much in the game. You can still start a startup, or change careers, at any age, and experience certainly has benefits, but when it comes to risk, younger is better. Without family and kids, the risk is practically nil.
Those very people who want to collaborate with you are the ones who will send you customers. Use your university to drive customers to your product - when you go to silicon valley, you will be just another no-name with a big idea and some code. You have the name and rep right now, create your business out of that, and when your business is big enough, go to silicon valley.