Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Entrepreneurs who regret starting businesses

bbc.com

Post reply on HN
Print view View original

11–20 of 279 posts

Re: Entrepreneurs who regret starting businesses

#11

Post by rozenmd »

I wanted to document a regular person's experience building a business while working full time, it wasn't until the end of my third year before I made my first dollar from a stranger on the internet:

year 1: https://maxrozen.com/2018-review-starting-an-internet-busine...

year 2: https://maxrozen.com/2019-further-reflections-trying-to-star...

year 3: https://maxrozen.com/indiehacking-3-year-review

year 4: https://maxrozen.com/2021-strangers-paid-my-macbook

year 5: https://maxrozen.com/2022-just-keep-shipping

In the end, my business has been described as an "internet laundromat", it's definitely not a unique idea, it was a pain in the ass to get here, but I don't regret it.

Re: Entrepreneurs who regret starting businesses

#12

Post by avidphantasm »

rco8786 wrote: post #3

I am 100% certain that many entrepreneurs regret their choices. But kicking off this article highlighting a person whose stated alternative to entrepreneurship was "consistent 7-figures at a management consulting firm" is laughable, as though that's an option for most people.

Yeah, my reaction to that quote was, “well at least probably did less damage to society as an entrepreneur.”

Re: Entrepreneurs who regret starting businesses

#13

Post by gizmo »

> The start-ups he later launched all ultimately failed. And even now, as a solopreneur, combining freelance consultancy with writing books and developing information-based products, he often looks back with regret at not simply sticking with his job at a large management consultancy in Beirut.

He now has a consultancy called "Business Model Hackers LLC".

One of his books is titled: "Vision, Mission, Values, Aspirations, Do They Matter?: A Business Professionals’ Guide to Drafting Vision/Mission Statements and Their Purpose in Modern Organizations".

I wrote a couple of paragraphs and deleted them, because really, there is nothing left to say.

Re: Entrepreneurs who regret starting businesses

#14

Post by inconceivable »

throwaway8456 wrote: post #10

I started, boostrapped and sold a SaaS business. By most standards, this was a resounding success. I won't have to work again ever if I don't want to. This being my first company, I was obsessed with it. Towards the end, I burnt myself out, I had neglected my wife and kids for years, and I was just so miserable. I used to love programming, but I could not concentrate anymore. I started developing resentment against t…

i also sold in 2021 when the money flowed easy. i'm not set for life but i could easily go 10 years, longer if i sold assets. eventually the burnout faded, my health improved (knock on wood) and the boredom got to me after 1.5 years and i'm working again. working on personal projects "for fun" is not the same as making money, no matter what anyone says.

buying expensive shit is awesome for a while but it gets old. especially if you already have a home you actually like living in and the 'expensive toys and experiences' itch has been scratched for a while because your business was already successful by the time you sold it. i don't want a huge house and i don't need another car or overpriced workstation computer.

it makes me wonder what drives billionaires to keep going. they're probably just bored when they're not working. it really might be as simple as that.

Re: Entrepreneurs who regret starting businesses

#15

Post by Mistletoe »

FlyingSnake wrote: post #8

Entrepreneurship is like one of those carnival games where you throw darts or something. Middle class kids can afford one throw. Most miss. A few hit the target and get a small prize. A very few hit the center bullseye and get a bigger prize. Rags to riches! The American Dream lives on. Rich kids can afford many throws. If they want to, they can try over and over and over again until they hit something and feel good…

That is golden.

Re: Entrepreneurs who regret starting businesses

#16

Post by saliagato »

throwaway8456 wrote: post #10

I started, boostrapped and sold a SaaS business. By most standards, this was a resounding success. I won't have to work again ever if I don't want to. This being my first company, I was obsessed with it. Towards the end, I burnt myself out, I had neglected my wife and kids for years, and I was just so miserable. I used to love programming, but I could not concentrate anymore. I started developing resentment against t…

“ I have definitely lost a few years of life expectancy “

Why? Genuinely curious. Stress can lower life expectancy?

Re: Entrepreneurs who regret starting businesses

#17

Post by shubhamjain »

Both the examples in the article are agency/consulting businesses. There's a reason for that. Such businesses offer no respite of any kind, especially so if you've decided to scale. You're constantly on the hook to find new clients, and to meet the demand, hire more employees, and then, find even more clients because the hires aren't getting utilized enough. And let's not forget about downturns. Even a small dip is enough to left you scrambling to pay your employees. In most cases, the revenue multiple tends to be much on the lower side in the case of a sale. So, don't except a big pay day.

I am not saying, product business is easy either. But, consulting business is relatively easier to start and lures you into thinking that it will also be easy to scale, which is an easy trap to fall into. With entrepreneurship, the kind of ship you're driving matters. I don't think there's much to regret when you're running a profitable software business with 80% gross margins and <10 employees. In today's economy, it's not an impossible dream.

Re: Entrepreneurs who regret starting businesses

#18

Post by davidn20 »

My guess is running a startup is like running a marathon. The idea of it is great to many people, but as people start to train they realize all the work it takes and drop out. People get into things without fully understanding it all the time. The few that really love it or enjoy the process makes it to the starting line.
Post reply on HN