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If you haven't initiated, you can do rush another chapter. It's really a question about fit. It's definitely a very different experience to be a founder vs joining a well-established organization.
As a member of a founding class, my experiences are the following:
* There's very little in terms of traditions (mainly, the ones from national). You need to figure out and establish your own.
* Culture is not yet set. It can take years for a long-standing culture to set in. Until then, it can be highly volatile, and you're going to be a huge part of it.
* You have to "earn" all the perks. The house, social calendars, events, recruitment process, and pledge process begin at or close to zero. (Inter)national HQ and other chapters may help, but because of the campus-specific situation, it's up to you.
That said, if you and the rest of the founding class do well and your colony survives, it's a very rewarding experience:
* Actually being part of the creation of the earliest and most important traditions.
* Experiencing a bunch of firsts (first house, first party, first social, first pledge program, etc.), which is one of the largest contributors to happiness in life
* Being recognized on certain events (i.e. signatures for attending the charter, plaque for first TV, first to win certain awards)
For me, it was 3.5yr before my chapter had its first social with a sorority. The alumni group was tiny, although it's steadily growing. I'm still looking forward to the day my chapter gets its first official house.
If you're looking to get the typical fraternity experience in a complete package, then a colony probably isn't for you. On the other hand, if you'd like to create something awesome and can deal with the hard parts, it may be a very rewarding experience.
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