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Ask HN: Quitting Job to Launch a Startup

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Re: Ask HN: Quitting Job to Launch a Startup

#11
post #4
post #3

1) Start your business BEFORE you quit your job 2) Make sure you are good at sales BEFORE you quit your job (and that you've sold stuff) 3) MOST businesses fail because they don't have enough revenue, not because of product or people. Resources/ books: * The E-Myth * All the stuff written by the Basecamp guys * Jim Collins books * Creativity Inc

> 1) Start your business BEFORE you quit your job I absolutely second this, but I would add a crucial section 1.5. 1.5) Also secure a seed-round to kick-start your company to test the for market fit. Then hire a few employees. If after the seed-round it is either profitable or succeeds in the market and gets more investment, then it makes sense to quit your job and work full time for the startup.

This assumes that OP wants to get VC money, which might not be everyone’s cup of tea. If anything, you’ll have much more leverage in negotiating a VC deal if you have actual paying customers.

Re: Ask HN: Quitting Job to Launch a Startup

#12
post #4

Earlier quoted context omitted.

> 1) Start your business BEFORE you quit your job I absolutely second this, but I would add a crucial section 1.5. 1.5) Also secure a seed-round to kick-start your company to test the for market fit. Then hire a few employees. If after the seed-round it is either profitable or succeeds in the market and gets more investment, then it makes sense to quit your job and work full time for the startup.

No one is going to give you a seed round with you still in your current job. At that point you would be all-in if you raised a seed.

I got my seed round from acclaimed angel investor FF&S

Friends, Family & Savings

Don't let startup cash kill your idea before you give it a chance. Creative people can test an idea for next to nothing.

Re: Ask HN: Quitting Job to Launch a Startup

#13
Top things I learned doing this successfully:

1) Find a customer. Don’t worry about your website and your logo and blah blah blah. Find a customer and solve a problem for them. Then worry about the other stuff. The best way to find customers early on is connections and taking to people, not google ad words or search or whatever. Call someone you know and solve their problem.

2) The initial problem you solve might not be the problem you end up solving. That’s ok. Keeping solving problems for people and eventually you’ll hit on one that works.

3) Have happy customers. Do everything you can to make your customers happy. Don’t worry that what you’re doing doesn’t scale. If it’s totally manual that’s fine, but make them happy. Answer their calls. Connect with them. Your first customers are everything. They establish your reputation.

4) Don’t do it for the money. Do it because you want to do it. Maybe you’ll make a bunch of money. Maybe not. Starting a business is not about money. It’s about the experience.

5) I actually didn't have my business going before I quit. That's pretty common advice, but I didn't follow it and I'm glad I didn't. Trying to balance a job and a startup is really hard. If you can get your living expenses low and you don't have dependents, I'd suggest just quitting and throwing yourself off the deep end. That way you basically have no choice but to get things going. Even if your business isn't making enough money yet, you can pick up consulting work to make ends meet.

6) Decide what you want to make it. You don't need to raise VC money and make billions. If you had your own business that paid you, say $150k/year, that's success. Maybe one day you could scale it, and make millions, but pick your metrics of success. Don't feel like a failure because of money.

Good luck! It’s hard. Keep going.

Re: Ask HN: Quitting Job to Launch a Startup

#15
Maybe don't quit your job just yet.

Start trying to build your ideas with the coding skills you have. It probably won't be the thing you build, but working on a project to learn to program works better in my opinion, as you'll work to achieve something tangible instead of learning in a void.

0. Read Cal Newport's "So Good they Can't Ignore You":

Book: https://www.amazon.com/Good-They-Cant-Ignore-You/dp/14555091...

"Talks at Google": https://www.youtube.com/watch?v=qwOdU02SE0

Newport addresses career change strategies, how to build good careers, etc.

1. Read Marc Andreessen's Archive:

Link: https://pmarchive.com/ HN commented collected links: https://news.ycombinator.com/item?id=19739943

It is a collection of tweets made in a nice format, then an ebook.

Andreessen addresses a lot of topics.

2. How to Start a Startup:

Link: https://startupclass.samaltman.com/

3. Startup School (CS183F): https://www.youtube.com/watch?v=5ZXU84_sGXo&list=PLoROMvodv4...

The list is last uploaded on top position, so first video is on the bottom "How and Why to Start a Startup". Haven't watched the series except for the ones on "How to Find Product Market Fit" and "How to Build a Product II" and some of "How to Build a Product"

Re: Ask HN: Quitting Job to Launch a Startup

#16
Your first sentence:

    > I am learning Python. 
Your second sentence:

    > I want to quit my current job and start a business.
Later in the thread:

    > I am not good at sales. Should I learn selling...?

Advice - pick one thing, get really good at it and take things slowly. You can't go from having no engineering experience, no business experience and no sales experience to all of sudden doing all three successfully.

Re: Ask HN: Quitting Job to Launch a Startup

#18
Keep learning, ideas are easy it's about executing on your ideas and making sales.

Keep your day job and keep learning, start a small project you can complete with your current programming skills and learn selling, marketing.

Check out the StartUpsForTheRestOfUs.com podcasts, start in the archive. Lots of good info on stair stepping with small projects up to a SaaS.

Follow your dream but keep your day job for now.

Also check any agreements you signed with your employer regarding IP who owns what you work on outside of work. Don't work on or even visit websites of your projects from work. Don't share your dreams with co-workers/employers.

Re: Ask HN: Quitting Job to Launch a Startup

#19
You should gain more experience in programming before quitting your job.

Instead, during your free time implement one of your ideas and break down the feature set into a simple MVP. Come with a timeline, implement, learn, and see if you can stick with the plan. Once you end up building the product, next you will have to work on finding users (sales, marketing) and convincing them to keep using your product and pay for it.

If you have persevered for this long and also maintained your job, you really have the passion and discipline needed to build on your vision. A lot of times I have noticed my friends (FAANG) talk about various idea, get excited for a day/week but never build it out.

PS: I quit (ex-FAANG) a few years ago to travel, relax, learn foreign languages and now currently working on some SAAS side projects. My 2 cents, you need to have a lot discipline along with tons of motivation, and inspiration to keep fueling the energy to work on your ideas.

Re: Ask HN: Quitting Job to Launch a Startup

#20
post #5
post #3

1) Start your business BEFORE you quit your job 2) Make sure you are good at sales BEFORE you quit your job (and that you've sold stuff) 3) MOST businesses fail because they don't have enough revenue, not because of product or people. Resources/ books: * The E-Myth * All the stuff written by the Basecamp guys * Jim Collins books * Creativity Inc

I am not good at sales. Should I learn selling or hire someone who is excellent at selling things?

You HAVE to do sales and if you have to ask this question, don't quit your job.
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