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In this video clip, Nick Pirollo, co-founder of Scholly, shares questions to consider when thinking about starting a second business. You want to make sure it's the right time for you, that your last company is set up in a way that it won't distract you as you grow your new business, and that it's something you believe in. Sometimes you can do two things at once and run your new business side by side with your old one, but other times you need to commit fully.
"It's about making sure that it's the right time to transition."
More about our expert: Nick Pirollo is a tech entrepreneur with a passion for helping founders navigate the technology aspects of their businesses. He has played many roles over the years: from founder to early team member to advisor and late-stage consultant. Nick served as CTO of Scholly, an app for finding scholarships, from conception to its current standing as a successful Shark Tank alumni and member of the 2016 Forbes Under 30 list for social entrepreneurship. He helped grow the technology at Gradifi, a company enabling employers to show gratitude to their employees by helping reduce their student debt, from early days to its acquisition by First Republic Bank. Most recently, he scaled the quickly expanding dating app Hater, which helps people find love through common hates. Through all of this, Nick has advised countless startups on how to navigate technology and the issues that come up as you take a startup through its MVP and into its growth stages.
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