I’ve just pulled the plug on my business, and now I’m moving sideways - back to regular employment but in a role that’s pretty different from what I’ve done for the last 15 years. Hopefully that will recharge my batteries, and then in a couple of years I might be ready to try again.
Ask HN: Starting over after business failure
21–30 of 67 posts
Re: Ask HN: Starting over after business failure
#22I took a job in the same space as my startup. My startup was bootstrapped, so having built a product and learned the market was interesting experience to my new employer. The work in the job seems much easier once you've been grinding for the same problem on your own. I've continued to deepen my network.
You can still solve the problem you were trying to solve with the startup, although you'll be doing it at a company. Maybe approaching it from a different angle will shed new value on your ideas and creativity, and you won't feel as depleted.
Re: Ask HN: Starting over after business failure
#23Some people have given solid advice here on financial restrictions, so will focus on the 'fire for building' part.
Recently listened to a podcast of Tim Ferris, where he interviewed Tony Fadell - who built the iPod, iPhone and Nest. In it, he makes a serious case for getting bored. He explains how he uses it to drive new ideas, such as how it helped him get the clarity of mind to get the idea of Nest, and how afterwards he's done the research for his current problem - one of plastics.
"Get the time to get bored. Spend three, six months if you can, or at least two or three weeks outside of that. Get bored. Just put away all of your things. Maybe go clean up the garage or whatever it is. Right? Through that, you’re going to start to think differently. You’re going to act slightly differently and your mind might open up to other sources of inspiration, other problems, other things where you start to go, “Oh, now I see differently.” I’m not just going to go run to the competitor because I understand the space and run to the competitor and go work for them because they’re going to give me a better job. But I want to go do a whole different thing that I want to learn about that’s going to challenge me so I’m not just checking in every day and doing my work, but I’m actually growing through that."
Listen to it here: https://tim.blog/2019/12/23/tony-fadell/
Re: Ask HN: Starting over after business failure
#24Let new ventures find you instead.
Take some time to refresh your mind. After grinding your idea for four years you most likely lost some experience in other fields.
Have fun, read fiction books. When you'll find a new idea, you most likely neglect this parts of the life again for several yers. Good luck!
Re: Ask HN: Starting over after business failure
#25Partner up with somebody :)
Re: Ask HN: Starting over after business failure
#26Some people have given solid advice here on financial restrictions, so will focus on the 'fire for building' part. Recently listened to a podcast of Tim Ferris, where he interviewed Tony Fadell - who built the iPod, iPhone and Nest. In it, he makes a serious case for getting bored. He explains how he uses it to drive new ideas, such as how it helped him get the clarity of mind to get the idea of Nest, and how afterwa…
An important aspect of fostering boredom is avoiding gratification like Netflix or Twitter (which I am hugely guilty of).
Re: Ask HN: Starting over after business failure
#27It depends on your financial situation. If you can afford it, take some time off and forget about the whole thing. If you need money, I would either get a steady job or a contracting position to reestablish a stable financial situation. It’s hard to think straight while being broke.
It’s hard to think straight while being broke.
I feel this is the mental state (whether objectively broke or otherwise) of most employees, which hinders them from starting that business they always wanted to start, or starting contracting/freelance. It's a poison as far as I can tell. Truly some of the most capable people I know cannot by pried loose from the toxic work environments and low pay they are stuck in because sick systems disrupt our ability to reason well.
Re: Ask HN: Starting over after business failure
#28I'd start by reevaluating your belief that anyone who went to public school is a moron and that anyone who went to private school has a huge edge over them.
Do you see any connection between your failed business and your myopic world view?
Re: Ask HN: Starting over after business failure
#29This was me a few years ago. My end goal was to build up savings in the 3-5 year time frame.
My off-ramp was to:
1) Take on consulting clients
This allowed for a shift in day to day/finding an alternate source of income asap. Depending on opportunities available, you might want to skip this step.
2) Identify interesting startups in the area + get a software dev job.
This allowed me to hone up my rustier coding skills and make good money without needing to worry about clients/big picture deliverables.
3) After 1 year, move to FANG.
I needed a year to get back into the IC mindset and skillset at a level where I could be hired as a senior/principle level at FANG.
Re: Ask HN: Starting over after business failure
#30This was me a few years ago. My end goal was to build up savings in the 3-5 year time frame. My off-ramp was to: 1) Take on consulting clients This allowed for a shift in day to day/finding an alternate source of income asap. Depending on opportunities available, you might want to skip this step. 2) Identify interesting startups in the area + get a software dev job. This allowed me to hone up my rustier coding skills…
What's the best way to get consulting clients? I want to start building a pipeline now in case I end up in a similar situation.