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I am done. I give up

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Re: I am done. I give up

#521
Thanks for sharing your story, I see where you're at and have had similar thoughts throughout my career.

It definitely is not a fair game: I literally started my first company because I knew my parents wouldn't let me starve and I could just crash at their place for years before I 'made it'.

~13 years in, still haven't made it but I can make a living. Every time I talk to aspiring entrepreneurs I make sure to highlight all the crap you have to go through to counter the media doing a great job at highlighting the good stuff.

Re: I am done. I give up

#522
post #454

Earlier quoted context omitted.

> The rich kid will have a go at throwing the dart at the balloon, and miss. But, because they're a rich kid, they just take out their wallet (or parents' wallet), get more stubs, and try again (and again) until they hit the balloon I get contacted for a lot of “rich kid” startups for consulting work. This notion that rich kids are succeeding at startups due to their perseverance and fallback options is almost the op…

> I get contacted for a lot of “rich kid” startups for consulting work. Aren't you proving the OP's point? The point was, precisely, that they have options, not that they "persevere". Contracting consulting work is one such option. Poor people cannot contract anyone to help them.

I think he’s kind of making a case that the rich kids aren’t always the ones that succeed ultimately in startups because they leave at first sight of trouble.

Re: I am done. I give up

#523
post #402
post #132

Earlier quoted context omitted.

Completely agree. Am on my 3rd company, all of them have reached profitability fairly easily. If you don't want to rely on luck, you have to work from the bottom. The VC, top down approach is very risky indeed, but a different game exists. Finding people who have problems that could be solved through better software is not hard. Listen to them. Make their life easier. Generalize, improve, start selling to other peopl…

How do you do that with no connections, no money and no privileged background ? Do you just cold message people asking what they need ?

Cold email is a hit and miss approach. Just go talk to people face to face. Initially it seems like a non-scalable approach but it works wonders. The silicon valley, VC preached mantra of hyper scale is what muddles the minds of most entrepreneurs. Everyone starts thinking of million of users rather than 100s of users. There is a very interesting presentation from YC startup school 2008: https://www.youtube.com/watch?v=0CDXJ6bMkMY

You will recognise the speaker :)

Re: I am done. I give up

#524
post #132
post #119

Earlier quoted context omitted.

> A big fact of the entrepreneur world is that it is hugely based on luck. Luck of finding the right idea, the right market, the right timing, the right connections, the right customers, the right employees, the right financing. This is not true! I have seen successful business built from scratch by people who had no connections, no money and no privileged background (and no VC money). And I will say this for sure, i…

Completely agree. Am on my 3rd company, all of them have reached profitability fairly easily. If you don't want to rely on luck, you have to work from the bottom. The VC, top down approach is very risky indeed, but a different game exists. Finding people who have problems that could be solved through better software is not hard. Listen to them. Make their life easier. Generalize, improve, start selling to other peopl…

Where are you finding these customers?

May I ask what industries you’ve targeted?

Businesses or Customers?

Re: I am done. I give up

#525
post #436

Earlier quoted context omitted.

For a full picture factor in outgoings for world class health and education per person (and other benefits that are free | much cheaper than US); these are very low cost for individuals and offset higher taxes by offering better value for money.

If this is indeed the case, shouldn't there be an influx of skilled professional and entrepreneur immigrants into all of these nordic welfare states? Something doesn't quite add up, as there's appears to be a constant shortage of such talent.

Sweden actually is one of the favourite destinations for immigrants.

Perhaps high skilled ones would prefer a country with better climate ... :-)

Re: I am done. I give up

#526
Have you considered just duplicating an existing business in a still growing market and then hiring a PPC/seo marketing agency? You don't have to invent anything new perse, and you absolutely need professional marketing in most cases.

Re: I am done. I give up

#527
post #10

A big fact of the entrepreneur world is that it is hugely based on luck. Luck of finding the right idea, the right market, the right timing, the right connections, the right customers, the right employees, the right financing. The basic fact is that most startups and most entrepreneurial dreams fail or get consumed by another for their talent/clients. And as an entrepreneur you fight against all odds. Most will fail…

I think you’re right there is a lot of luck, but as they say, luck is effort plus opportunity. You need to put in the effort and position yourself for unique opportunities.

OP: My personal advice is to stick with a part/full-time job and continuing to explore your business ideas on the side until they are generating enough revenue to cover your expenses. Focus on businesses that sell something practical and don’t need lots of marketing or engagement (at first).

Re: I am done. I give up

#528
post #320

Succeeding in the startup world reminds me of the funfair analogy: The rich kid will have a go at throwing the dart at the balloon, and miss. But, because they're a rich kid, they just take out their wallet (or parents' wallet), get more stubs, and try again (and again) until they hit the balloon. The middle class kid will have a go at throwing the dart at the balloon, and also miss. Then they will walk away, saying…

[dead]

Re: I am done. I give up

#529
This seems to be the toxic end result of “hustle porn”.

The promise that you “Yes even you!” Can start the next unicorn, or even just bootstrap to ramen profitable & gain the attention of some VC money, maybe find a lucrative graceful exit if your runway runs out.

It’s a subtle lie, because it directly or indirectly says “everyone could be…” when in reality it’s “anyone might be…” in the sense of “anyone might be the next lottery winner!”

Anyone might, but not everyone can, and a significant amount of the outcome (sure, much more on the lottery) is determined by luck.

Only with hustle porn the themes pervading it all, unlike the lottery, is that if you fail, it’s because you did something wrong. You didn’t work hard enough. You didn’t network in the right places, that fundamental something is wrong with you

Most who have studied the progression of Christian religion throughout the history of colonizing the North American continent may recognize here the trappings of the Prosperity Gospel, itself a pernicious offshoot & watered down version of Predestination as found in some Protestant sects, that boils down to the belief that the unsuccessful, the sick, the poor, are all that way because it’s their own fault, because they have failed to achieve some vague notion of god’s grace.

Predestination is a complex topic with multiple interpretations, but the strong Calvinist version basically says that god not only knows who is predestined to heaven and hell, but that we might see that destiny here on earth in the trappings of a person’s life. The successful and healthy must surely have god’s blessing while the sick and the poor are clearly among the damned. As you might imagine, theological explanations and biblical references supporting this are complex, but that’s the nutshell.

You can see it’s roots in the concept of the American Dream among other attitudes that seem have been popular in the US— a sometimes, among some people, disdain for the poor who surely are there by some form of choice.

That is hustle porn. Modern repackaging of and stitching together of bits & pieces of the worst pieces of theology found in early (and some recent) groups of protestants. (See Joel Osteen for recent incarnations)

Re: I am done. I give up

#530
good. It's not a sustainable lifestyle. Imagine if you had employees and payroll to hit and sales are slumping and you are running low on cash and your investors are yelling at you, your customers are never happy... That's a lot harder of a situation to deal with.

I dropped out of being an entrepreneur and normal life with a normal job is just a sweet sweet vacation. Bonus if you don't have to talk to the outside world and have good coworkers. You are a super human now.. be considerate of those who can't produce as much as you. The normal world moves slow. Turn up your patience dial and get home for soccer practice.

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