I don't see how you can work assiduously at a full time job in fintech while also trying to launch a tech startup, and expect the startup to succeed. Unless you have some absolutely revolutionary idea with well-protected IP, someone else more dedicated will probably out hustle you with a similar enough idea.
Ask HN: My company went bankrupt today and I have 2 options
21–30 of 94 posts
Re: Ask HN: My company went bankrupt today and I have 2 options
#22> What would you suggest?
Go for it like your livelihood depends on it.
Re: Ask HN: My company went bankrupt today and I have 2 options
#23There's a dangerous line of thinking around "my business isn't producing revenue because I'm not full-time focused on it." I've fallen into this trap and learned the hard way that full-time focus was not the issue. You have a team for in-house mobile apps, but you don't have any revenue. Why is that? How will you fix it?
> "my business isn't producing revenue because I'm not full-time focused on it." I've fallen into this trap and learned the hard way that full-time focus was not the issue.
What was/were the issue/s if you don't mind me asking?
Re: Ask HN: My company went bankrupt today and I have 2 options
#24Everyone wants to not work for someone else and be the decision maker and lead a team. Entrepreneurship starts with being a builder.
I had to start my own company because I couldn't get a job doing what I wanted to do. I kept being told that I didn't have the degree I needed. There are no degree requirements for CEO.
Re: Ask HN: My company went bankrupt today and I have 2 options
#25Kind of sad to think that a company just went bankrupt, while their employees were working on their own companies instead. No blame for OP. But what should managers do in challenging situations to prevent their team from losing focus?
This depends on the country. Some countries the expectation is you work your contracted 35 hours, and all the rest of your time and energy is yours to use as you please - including having a side-hustle.
The existence of all these side hustles in that case probably wasn't the reason the company failed.
Re: Ask HN: My company went bankrupt today and I have 2 options
#26Are you actually looking for advice or hoping we will validate your feelings about wanting to go out on your own? Because there’s not enough detail here to actually offer any actionable advice.
Re: Ask HN: My company went bankrupt today and I have 2 options
#27There's a dangerous line of thinking around "my business isn't producing revenue because I'm not full-time focused on it." I've fallen into this trap and learned the hard way that full-time focus was not the issue. You have a team for in-house mobile apps, but you don't have any revenue. Why is that? How will you fix it?
> "my business isn't producing revenue because I'm not full-time focused on it." I've fallen into this trap and learned the hard way that full-time focus was not the issue. What was/were the issue/s if you don't mind me asking?
It’s always product market fit. If the product is right it will find users.
Re: Ask HN: My company went bankrupt today and I have 2 options
#28Do you have a business or a project?
That is, are you generating revenue with a model that can be scaled? Or, are you just building something that you think people might want? For the former, I'd get a job.
Re: Ask HN: My company went bankrupt today and I have 2 options
#29Kind of sad to think that a company just went bankrupt, while their employees were working on their own companies instead. No blame for OP. But what should managers do in challenging situations to prevent their team from losing focus?
Why would you jump to the conclusion that a bankruptcy after 1.5 years is the fault of the underlings and not of leadership? Especially in such a shifty, cutthroat, regulated, and nuanced industry as fintech.
Re: Ask HN: My company went bankrupt today and I have 2 options
#30Earlier quoted context omitted.
> "my business isn't producing revenue because I'm not full-time focused on it." I've fallen into this trap and learned the hard way that full-time focus was not the issue. What was/were the issue/s if you don't mind me asking?
It’s always product market fit. If the product is right it will find users.
Yeah, there's no amount of dedication that will make the business fly if you stubbornly want to do “your thing”. You have to do what the market can find and is willing to pay for. Many of such businesses can be discovered without starting full-time.