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Ask HN: Who is currently broke due to being in a startup?

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Re: Ask HN: Who is currently broke due to being in a startup?

#81
post #41

Earlier quoted context omitted.

what kind of consulting do you do? how much of 150k were you saving annually?

I mostly work for banks and sometimes do military contracts. My last contract was with northrop grumman in SD and before that BOFA in charlotte. I saved appox. 36k a year.

cool. can you be most specific though? did you write software for banks/"defense" industry, or did you tell them what kind of software to write, or did you tell them how to wire their networks, etc.

Re: Ask HN: Who is currently broke due to being in a startup?

#82
post #43
post #14

I am broke. Sep 1 will be the 1 year anniversary of my decision to go out on my own. In the last 10 weeks I have missed rent payments, missed insurance and had it cancelled, sweated 2 dollar bus rides, not eaten sometimes because I didn't want to spend money on food. At times, I have regretted my decision to leave a comfortable life, doubted, cried, bargained, been depressed and thought things the former me could hav…

"It's better to be at the bottom of a ladder you want to climb, than halfway up one you don't."

Where did you find this quote? Or is it original? Very nice.

Re: Ask HN: Who is currently broke due to being in a startup?

#84
post #43

Earlier quoted context omitted.

"It's better to be at the bottom of a ladder you want to climb, than halfway up one you don't."

Where did you find this quote? Or is it original? Very nice.

It's from episode 6 in season 1 of the Office (BBC). That was Tim's advice to Dawn when she was thinking about changing careers. I love that quote.

Re: Ask HN: Who is currently broke due to being in a startup?

#85
The one great thing about having started at startup, is that your actually good at building things. 95% of the employees I know couldnt say that.

Use this amazing skill that you now have. Get a job in Manhattan, make 200K a year for a couple of years and then try again.

If your worried that this will make you fat and lazy then theres a way to make sure this doesnt happen: 1. Never listen to what your boss says but be cordial as you would be with someone you met on the street. 2. Do whatever is best for the system and for sales of the system. 3. Say no to office politics in all its forms.

If you follow the above 3 rules (ie no brown nosing whatsoever) then you'll see that, even in a corporate environment, the only reason they'll keep you there is because you know what your doing.

Re: Ask HN: Who is currently broke due to being in a startup?

#86

I have over $100k in student loan debt from undergrad, and have nearly run through savings for the startup I'm working on. My loan payments kick back in in two months. We're launching in 2-4 weeks, and the nature of the project is such that if it doesn't take off immediately then it may never take off. Talk about a fire under your ass! That said, I'm loving it. I'm actually living in India at the moment, working from…

I too am wokring on my startup from india, more or less reasons similar to yours. absolutely off the topic., if you are in india would you like to catchup sometime?

Re: Ask HN: Who is currently broke due to being in a startup?

#87

I have over $100k in student loan debt from undergrad, and have nearly run through savings for the startup I'm working on. My loan payments kick back in in two months. We're launching in 2-4 weeks, and the nature of the project is such that if it doesn't take off immediately then it may never take off. Talk about a fire under your ass! That said, I'm loving it. I'm actually living in India at the moment, working from…

I too am wokring on my startup from india, more or less reasons similar to yours. absolutely off the topic., if you are in india would you like to catchup sometime?

yea, definitely. just saw this. shoot me an email at jessecmaddox [at] gmail . Didn't see any info in your profile, but if you happen to see this let me know!

Re: Ask HN: Who is currently broke due to being in a startup?

#88
post #81

Earlier quoted context omitted.

I mostly work for banks and sometimes do military contracts. My last contract was with northrop grumman in SD and before that BOFA in charlotte. I saved appox. 36k a year.

cool. can you be most specific though? did you write software for banks/"defense" industry, or did you tell them what kind of software to write, or did you tell them how to wire their networks, etc.

Most recently I was doing data mining and warehousing for a new reporting system @ bofa.

Before that at NG I was part of a team developing firmware for gas detectors.

Re: Ask HN: Who is currently broke due to being in a startup?

#89
Starting-up while the head of household is a tough decision. It has to be well thought out since it's not just you. I took the approach of establishing my management consulting firm first, then used this income to fund my start-up and ensure a stream of revenue while in start-up mode. I have others doing some of the consulting work to keep that business going. Something to consider
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