Entrepreneurs Outpace Professors

Lincoln Snyder is a high school entrepreneur who has built a successful local service business that's rapidly growing, while his parents and society push him toward the traditional college path despite his business potentially making him a millionaire before graduation.

Key Points:

• Lincoln's Business Growth:

  • Made $30,000 in profit last year
  • Projecting $150,000 in revenue this year with roughly 50% profit margin
  • Has been doubling his business annually
  • Currently operates in just one neighborhood with potential to expand

• College vs. Entrepreneurship Tension:

  • Lincoln is planning to attend University of Michigan
  • His parents are "very traditional" and view his business as "a fun thing to do" while in high school
  • They want him to follow the conventional college path despite his business success

• Valuation Perspective:

  • Sam Parr: "If you do roughly $300K of business owner earnings... in most cases you are worth $1,000,000"
  • Shaan Puri: "You're one year away from being a millionaire if you just literally get two more neighborhoods on board"
  • Lincoln could potentially be richer than his college professors before graduation

• Growth Potential:

  • Shaan believes Lincoln could "4x this business in one year" by replicating his model in other neighborhoods
  • Compares it to "pond businesses" like Snapchat that work in one location and can be replicated everywhere
  • Lincoln's business model is working with NextDoor ads and could be scaled to many similar neighborhoods

• Perspective on Earnings:

  • $30,000 salary is "like an entry-level job anywhere" but Lincoln's business has the advantage of doubling annually
  • The business could be valued between $400,000 to $1 million with continued growth
  • Lincoln could "go pro in business" without college according to Anand Sanwal