Hello fellow people that want to become rich. I have a question for you guys again!
A friend and I (different friend, this one is 21 years old) are starting a software company. Once the alpha of the software is finished I will end up sharing and wanting input from all of you guys as you're like the OGs of everything I do, but I have a good question.
I met someone who graduated from Harvard about a week ago and he is incredibly interested in the project, both financially and physically. The friend (who's a junior in college for a business degree) and I (the discount business prodigy and senior web designer and rookie developer) and I want to grow this company. The problem is, the Harvard guy doesn't want to get involved until he sees a prototype and proof we know how to run...you know a company. That means I have to register the company and basically maintain this operation. As you guys know, I'm 17 at the moment, I turn 18 in July, aka 139 days from writing this post (yes I have been counting it down). My parents are incredibly supportive of the idea (surprising, I know) and I have talked them into letting me take a year off from college if by the time August comes around and the company has people investing. My dad is willing to take on financial liability for investment assets until I turn 18 so the stock can be in both of our names.
We do have plans to eventually hire employees, move the company to either Massachusetts, California, New York, New Hampshire, or Maine, offer eventual employees (after many, many funding rounds) benefits, we plan to take investments from venture capital firms and investment banks (co-founder is a banker), we plan on renting a small office space in a business park, the software we're distributing is open source but we will offer enterprise solutions and plan on profiting off of this, we plan on paying ourselves equity salaries, we plan on investing most if not all of the money we receive initially into the business whether it's through investments or revenue, there will be multiple owners, I assume US residents.
I want to file a separate tax return. The co-founder will be taking care of financials (accounting) until we have the money for an accountant to do that for us. As I mentioned, the other co-founder is a banker who makes quite a bit of money, so our flexibility in that sense is pretty strong.
With all of this information, what do you recommend I do? Don't tell me to go to college, I do not want to take the risk of waiting almost 5 years hoping no one takes this idea. I will be a pretty salty individual and I'd rather take the risk than not. Thank you everyone, and sorry Harold for disregarding your college advice once again. No hard feelings <3
A friend and I (different friend, this one is 21 years old) are starting a software company. Once the alpha of the software is finished I will end up sharing and wanting input from all of you guys as you're like the OGs of everything I do, but I have a good question.
I met someone who graduated from Harvard about a week ago and he is incredibly interested in the project, both financially and physically. The friend (who's a junior in college for a business degree) and I (the discount business prodigy and senior web designer and rookie developer) and I want to grow this company. The problem is, the Harvard guy doesn't want to get involved until he sees a prototype and proof we know how to run...you know a company. That means I have to register the company and basically maintain this operation. As you guys know, I'm 17 at the moment, I turn 18 in July, aka 139 days from writing this post (yes I have been counting it down). My parents are incredibly supportive of the idea (surprising, I know) and I have talked them into letting me take a year off from college if by the time August comes around and the company has people investing. My dad is willing to take on financial liability for investment assets until I turn 18 so the stock can be in both of our names.
We do have plans to eventually hire employees, move the company to either Massachusetts, California, New York, New Hampshire, or Maine, offer eventual employees (after many, many funding rounds) benefits, we plan to take investments from venture capital firms and investment banks (co-founder is a banker), we plan on renting a small office space in a business park, the software we're distributing is open source but we will offer enterprise solutions and plan on profiting off of this, we plan on paying ourselves equity salaries, we plan on investing most if not all of the money we receive initially into the business whether it's through investments or revenue, there will be multiple owners, I assume US residents.
I want to file a separate tax return. The co-founder will be taking care of financials (accounting) until we have the money for an accountant to do that for us. As I mentioned, the other co-founder is a banker who makes quite a bit of money, so our flexibility in that sense is pretty strong.
With all of this information, what do you recommend I do? Don't tell me to go to college, I do not want to take the risk of waiting almost 5 years hoping no one takes this idea. I will be a pretty salty individual and I'd rather take the risk than not. Thank you everyone, and sorry Harold for disregarding your college advice once again. No hard feelings <3
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