“Well from what i can gather his business is a computer repair/networking/web design business. Its multi-faceted. I would like an IT related degree. I don’t really enjoy school, or havent yet. I just wanna see what I like I guess. Explore my interests if you know what I mean. Take a plunge in the deep end.”
I was going to ask what you meant by “job opportunity.” If he was maybe working at a successful company and able to get your foot in the door, that would be pretty worthwhile. It sounds like his business might not have really taken off yet, and he’s looking for someone to share in the risk at this stage. Also the phrase “from what I gather” makes me think that you should take a closer look at his company and be very informed before you make a big decision.
Small businesses tend to be most successful when they are very focused, partially because specializing allows you to compete with bigger companies by becoming an expert in your field. His business model at this point is pretty vague. I’m a business major, and I’ve also seen friends, family members, and even one of my employers fail at running a small business. It’s usually because they have the technical skills to run a business, but don’t know how to market it or make it profitable. How has he registered his business? It’s probably a sole proprietorship or an LLC. If he has a sole proprietorship, or if he expands it to a partnership with you, you are both fully liable for any debts incurred by the business. If you’re an LLC, the company exists as its own entity and you’re more protected. Does he have a customer base yet; is he profitable? (Most businesses don’t turn any profit in the first year or two, so you’ll need enough savings to get through at least that much time.)
I’m not saying your friend is going to fail, but these are all things you should consider before you leave your education to get on board with him.
Why are you convinced that you have to leave school to work with him? You could work part time, during a summer, or take a leave of absence and see if it’s what you want. Some colleges even give you credits for “life experiences” if you can document that you’re learning relevant work skills by doing this. You should talk to an advisor or someone from your school and see if that’s an option. Anyway, there’s a lot of stuff to think about. It sounds like you could easily start a company like this, especially once you have the training that comes with a degree. Or you could go into business with him then.