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Should I consider dropping out to pursue my business?

Hi, thanks for taking your time to read this.I’m in the second year of A levels now (Yr13), studying Business, Economics & Computer Science. My working at grades are:Business: A/BEconomics: BComputer Science: D/EI’m enjoying Business & Economics, and succeeding in them. But not enjoying Computer Science whatsoever, and lack most skills in it due to a poor teacher last year.Since I was much younger, I’ve always had a passion for video editing. Not sure what started this, but since year 10 I’ve been working professionally with some very successful YouTube creators & companies, and last year converted this into a somewhat sustainable business.However, managing both college and personal business has been very stressful, and I’ve lost a lot of motivation for college.I’ve been having to turn down countless opportunities to increase profit within my business due to such limited time as I’m so busy attending college 5 days a week.Without getting too specific, not even two weeks ago I had the opportunity to sign a client which would have brought in an annual gross within the region 50kGBP, at less than 40 hours a week.I never had any interest in higher education, and always saw sixth form as a “backup” for if I ever wanted a change from this venture. But both business and college are now limiting each others performance. I don’t have the time to revise like others and gain the best qualifications, I don’t have the time to grow my business further, and I struggle to find the time to do activities I enjoy outside of work and education.As I said towards the beginning, I’m in my second year of college, our mocks are around a month and a half away. I’ve gained lots from my economics & business courses and fully plan to complete the rest of the course.However, from late January until summer, I no longer gain anything but a qualification from continuing sixth form, at the cost of almost stopping my business for around 5 months and having to regrow it from the start - all time spent in college will be purely revision and exams.So, with all that said, what are your opinions? Knowing that I’m only going to get two good qualifications, at the cost of losing near to all my progress on my own business so far, would you drop out?I would love to hear advice from those who have dropped out themselves, and how a lack of qualifications has impacted them - even though I’ve completed the entire course.As a side note: I cannot speak to my college about this, as on our first day, they made us sign an agreement stating that if we work over 10 hours a week, they can kick you out. (Which they have done to others)Thanks for reading this, excited to read the replies. Feel free to ask any questions!
Greetings.

Impressive business, I wish you the best with this.

However, I must inform you that these type of businesses whilst in the short term are imbuing you incredible profit margins at the start, may not continue in the long term. These type of businesses are quite volatile and can be brutal. I wouldn't leave school altogether so that you have a back up if your business starts to recline.

Business would be a sensible thing to do if you aim to go into other sorts of commerce in the future considering your income. However, if you aim to reside in the business of video editing, then maybe take a course more tailored to that to improve your skills. You also have the option to do a part time degree which would be less strain on your work/live balance - in-comparison to a full time. Only predicament is that the course is longer and it may cost higher than your standard full-time degree.

My suggestion is to continue both your studies and work until you finish A-Levels. Because your predicted ABD - these are pretty good A-Levels to adventure into any degree you want within your scope of business, computing, and mathematics (maybe improve on that D grade to a C grade). You have 5 months remaining until this is all over - I wouldn't make an ultimate judgement until you finish since you have made it so far.

If all goes well, I would choose a part time degree that is related to what you are doing - or do some sort of business degree.

I must say - you should also seek advice for a more qualified professional considering the income you are producing at this rate.
Reply 2
Thank you for the response, very informative.
Just a couple questions on top of that:

1) If I was to leave, how may not having the qualifications negatively affect me? I haven’t currently got any intentions of going into higher education, such as a degree, as it isn’t a requirement to any of the opportunities been interested in.

2) What role are you referring to as a “qualified professional” for advice? I’m happy to speak to someone in person and weigh up my options, but not sure where to find this.

I’m currently evaluating which path is most beneficial for me - however either way, if I was to leave, one of my first priorities is to make sure I have savings put aside for if I ever wanted/needed to return to education and get these qualifications.
Original post by lewisbedwell
Thank you for the response, very informative.
Just a couple questions on top of that:

1) If I was to leave, how may not having the qualifications negatively affect me? I haven’t currently got any intentions of going into higher education, such as a degree, as it isn’t a requirement to any of the opportunities been interested in.

2) What role are you referring to as a “qualified professional” for advice? I’m happy to speak to someone in person and weigh up my options, but not sure where to find this.

I’m currently evaluating which path is most beneficial for me - however either way, if I was to leave, one of my first priorities is to make sure I have savings put aside for if I ever wanted/needed to return to education and get these qualifications.

1) If you were to finish off your A-Levels now, you would have that option of getting a degree if you wanted to - not exactly for the purpose of direct employment, but more so for improving your skills in a certain area. I am in no means of saying you should go and get yourself a degree, but I would strongly urge yourself to finish off your A-Levels as it would not limit you into do whatever you plan to do in the future. Considering you have got 5 months until this all ends, I wouldn't give up now.

2) By qualified professional I mean people who are experienced in financial advice considering the amount of revenue your producing at your current rate.

Also - surround yourself around people who are in the business in which your operating in. Seek advice from them also.
Complete your A-Levels, since you will achieve ABD at least.

Also, it would make more sense to get a degree first.
Is there any way you can go back to the £50k per year client and inform them that you can clear your diary and would be delighted to help them with their video editing needs?

Can you see with hindsight now that it was a terrible decision on your part to turn down that contract? Unless someone else was offering you £60k per year.

A key question to ask yourself over and over in life is "What else?" What else could you be doing apart from what you're doing now? If it's something better; do that!

It's very clear that running your own video editing business where you will be earning over £50,000 per year is better than studying A levels in 6th form.

None of your clients will care what A levels you have. None of them will care if you have a degree. They will care if you can edit their videos well.

By far the best route for you in 2024 will be to:

Actively search for juicy video editing contracts for yourself.

To fit in A levels around your marketing activities and then around your video editing. To the extent that A levels get dropped when you're working 35 hours per week.

Feel extremely proud of yourself that you at the age of 18 will be earning more money than your teachers at your 6th form AND that you will almost certainly enjoy the process of earning that money more than they enjoy their jobs. So that your teachers could learn more of use from you than you from them.

The first £10k net that you earn; put aside a large chunk of it for the finest equipment for yourself. Anything and everything that will speed up your work or help in the quality of your work or help to make your work more enjoyable or less strain on your eyes / back / wrist etc.

Do an audit of weaknesses / gaps in skill / knowledge. And plough a chunk of time / money into specific training for yourself. Areas that will help you in your business: financial / budgeting / investment evaluation / book-keeping skills. Project planning; Gannt charts and all that. Sales and marketing skills. Public speaking skills. Staff recruitment and management skills.

Get some training in social skills, including man to woman or woman to man (or whatever) social skills. To help you have a great social life and a better romantic life as well as you getting better interpersonal skills for your work.

Get your driving licence, if you haven't already. And then get yourself a cheapo car (probably one with a tiny engine for insurance costs).

Put aside time to enjoy life. With you earning more than enough to pay your bills, your time is now. The time of your life when your life is at its' best. Go on loads of days out to places within 2 hours of where you live. Travel the world (working part time remotely if that's a good option after asking the What Else question).

Move out from the parental home as soon as. Either renting like a student or via a mortgage.


Getting a degree would be a huge waste of time and money for you.
Just imagine, with your business path in life, in 3 years time you earning over £100k per year full time or £50k per year part time. With you having no student debt. And you having had the right amount of training and experience that even if the bottom fell out of the video editing market you'd be far better placed to carry on earning a good living for yourself than some graduate fresh out of uni.
This is a moot point because you're required to be in full time education or training until the age of 18 by the UK government anyway, assuming you live in England.
(edited 2 months ago)
Original post by Dunnig Kruger
Is there any way you can go back to the £50k per year client and inform them that you can clear your diary and would be delighted to help them with their video editing needs?

Can you see with hindsight now that it was a terrible decision on your part to turn down that contract? Unless someone else was offering you £60k per year.

A key question to ask yourself over and over in life is "What else?" What else could you be doing apart from what you're doing now? If it's something better; do that!

It's very clear that running your own video editing business where you will be earning over £50,000 per year is better than studying A levels in 6th form.

None of your clients will care what A levels you have. None of them will care if you have a degree. They will care if you can edit their videos well.

By far the best route for you in 2024 will be to:

Actively search for juicy video editing contracts for yourself.

To fit in A levels around your marketing activities and then around your video editing. To the extent that A levels get dropped when you're working 35 hours per week.

Feel extremely proud of yourself that you at the age of 18 will be earning more money than your teachers at your 6th form AND that you will almost certainly enjoy the process of earning that money more than they enjoy their jobs. So that your teachers could learn more of use from you than you from them.

The first £10k net that you earn; put aside a large chunk of it for the finest equipment for yourself. Anything and everything that will speed up your work or help in the quality of your work or help to make your work more enjoyable or less strain on your eyes / back / wrist etc.

Do an audit of weaknesses / gaps in skill / knowledge. And plough a chunk of time / money into specific training for yourself. Areas that will help you in your business: financial / budgeting / investment evaluation / book-keeping skills. Project planning; Gannt charts and all that. Sales and marketing skills. Public speaking skills. Staff recruitment and management skills.

Get some training in social skills, including man to woman or woman to man (or whatever) social skills. To help you have a great social life and a better romantic life as well as you getting better interpersonal skills for your work.

Get your driving licence, if you haven't already. And then get yourself a cheapo car (probably one with a tiny engine for insurance costs).

Put aside time to enjoy life. With you earning more than enough to pay your bills, your time is now. The time of your life when your life is at its' best. Go on loads of days out to places within 2 hours of where you live. Travel the world (working part time remotely if that's a good option after asking the What Else question).

Move out from the parental home as soon as. Either renting like a student or via a mortgage.


Getting a degree would be a huge waste of time and money for you.
Just imagine, with your business path in life, in 3 years time you earning over £100k per year full time or £50k per year part time. With you having no student debt. And you having had the right amount of training and experience that even if the bottom fell out of the video editing market you'd be far better placed to carry on earning a good living for yourself than some graduate fresh out of uni.

PRSOM
Original post by artful_lounger
This is a moot point because you're required to be in full time education or training until the age of 18 by the UK government anyway, assuming you live in England.

The answer to that is very simple.

Either just quietly stop turning up for lessons.
Or declare that you are being home taught (which would be true, with the home teaching via running a business being far superior to anything that would be learnt at 6th form or university)
Or declare the time you're spending on the video editing business as you doing a traineeship or apprenticeship.
Or move outside the UK and work remotely for any UK based clients.

No reasonable person would punish lewisbedwell for not attending 6th form when he or she is working on fulfilling a video editing contract that will net £50,000 in 12 months.

Just think of the newspaper headlines if a 17 year old were to receive a fine for starting and running an ethical, profitable, high tech business!

In fact thinking about it, it would be fantastic if lewisbedwell were to receive a fine in these circumstances, because it would be great publicity for growing the business.

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