The entrepreneur's path - I need some guidance!

[Rabbit]

So I have known and been wanting to start a business of my own for a long time now but am somewhat lost on this path. Let me fill in some background info first:

I'm 22 years old, and a college senior (graduating this August) at the Univ of Texas studying Economics (and minoring in Business Administration). I've known for probably 10 years that I want to be an entrepreneur and open a business of my own, but only in the past 4 or 5 months have I actually decided on what (roughly) that business will be.

My friends and I started homebrewing beer back in December and that hobby has turned into a full-out obsession! I can see it being a profitable (albeit very unstable) business, where few actually make it out of the 5-year startup period. I haven't quite decided yet on whether I want to have a standard brewery or just a brewpub. Breweries can bottle and keg beer, and go through distributors to sell their beer on the shelves of retailers. Beerpubs brew and serve beer in their own facility (usually in conjunction with a restaurant or bar). I like to believe that there is a significant market that could be developed with my ideas... but I digress.

The problem is this: I am about to graduate and have student debt to pay off. I only recently realized that I can graduate so early (I was originally planning on December) and I also don't have any completed internships or much relevant job history from the past year and a half. Thus, upon graduation I will need an income IMMEDIATELY but my options are relatively limited. Furthermore, obtaining part-time employment right now would be extremely challenging (my classes are exceedingly demanding this semester, at least 40 hours a week) and it will probably be the same until I graduate.




So here is my predicament:

I don't know if I should try to tough it out with a part-time, get some experience in the field (I'd work at a brewpub or brewery, very hopefully working in management, or just whatever I can get) and then pump out full-time labor after graduation for a while, pay off my loans, and have time to write out a solid business plan.

OR

If I should just plan to start writing the business plan now, devote as much time and effort to that as possible (after school), and hopefully have funding and start operating when I graduate (in four months). I imagine that four months is enough time to write a plan and obtain funding, but given my current time constraints and lack of experience... that may prove impossible.



So which path would you all recommend? I am perfectly torn here- I strongly feel the need to be responsible and take care of myself now, but I may in fact just be wasting my time at a full-time position making $10 or $15 an hour and possibly not getting useful experience, as starting my own company might be something I could do already?

[Fullcrum]

If you make a good product that people will genuinely enjoy, be vocal about your mission, especially with restaurant managers and owners and other potential distributors. Bring it up in conversation, show them your passion, and you may get some willing venture capital coming your way!

Screw time constraints and lack of experience. If you decide to do something else that you are not passionate about, you will regret it.

When it comes to being an entrepreneur, "job history" is only relevant in the lessons you've learned from those jobs. It's not a "Look at all these cool things I did"-fest like a college application or resume. You'll definitely learn nothing doing some hourly wage thing.

Definitely pursue this.

PS - I'd rather go into initial debt if I have faith in my product and my venture rather than play it safe. The ultimate consequences, as Steve has proven, are not that bad.

[Rabbit]

Thanks for the fast reply!

I imagine there could be some value in labor in that field- I would hope to learn how such an establishment operates (both day-to-day and long term). But of course, I don't know if there really is much to learn there. I guess a better question in this case would be: is it worth it to try to labor for a while first in an industry like this, in which I could figure out how to operate? Or is it generally straightforward? I know how to make the product, and I have a pretty good idea of how I want to market it. But of course there are many many other aspects of operating... Or perhaps should I just try to find a manager with experience...?

Also, I am not really afraid of debt so much, but I have to have money to live on and start paying off loans. I'm worried that if I go right into my own company after graduation, I won't be earning an income (or at least not nearly enough) at first. And I most definitely will need an income to start. How many of you here, who have done this process, have been able to pull an income at start-up (and how soon after start up)?