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Ask HN: My company went bankrupt today and I have 2 options

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Re: Ask HN: My company went bankrupt today and I have 2 options

#81

Post by creer »

sb8244 wrote: post #15

There'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?

> you don't have any revenue.

That is what struck me also. You could try and extrapolate on some revenue and growth but there isn't that. It's not because of "part time" procrastination since there is a team working on it. What's happening? (We don't need to know but you need to know.)

Re: Ask HN: My company went bankrupt today and I have 2 options

#83

Post by creer »

jollofricepeas wrote: post #14

“We are not generating any revenue at the moment” All of the advice given so far about your personal family life is important and should be considered… BUT… You should attempt to get a job in B2B tech sales before picking up entrepreneurship again. You lose nothing by taking the time to learn. In fact, see it as part of your business journey. As a fellow engineer, I empathize completely and had to unlearn a lot of th…

This is a great answer also. You have a no-brainer and resume-safe opportunity to switch job. Do you need to learn sales or some other skill? Watch for IP and confidential information but otherwise that might be time to do a little time in a different part of business organizations. Sales, recruiting, marketing, product management... Which one might depend on the entrepreneurship you are aiming for.

Re: Ask HN: My company went bankrupt today and I have 2 options

#84

Post by 486sx33 »

egesabanci wrote: post #69
486sx33 wrote: post #65

I’m not sure how many fintechs have found success with a “part time” anything

You should read the OP again.

I see that I combined part time and fintech inappropriately, thanks for clarifying.

“ I have two paths in front of me: get a new job and continue being a part-time entrepreneur (I know the shortcomings of part-time entrepreneurship all too well) or I can go full-time and bet on one horse and hold on as long as I can and hope that my startup will succeed in the meantime.”

if you’re committed to entrepreneurship, there are not two options. Only 1. Go for it

Bootstrapping a business starts small though, as others have mentioned.

There is no part time, or half in. You’re in if you want it and you pound the pavement every single day.

Re: Ask HN: My company went bankrupt today and I have 2 options

#86

Post by SOLAR_FIELDS »

Just one comment: I think the way the title was worded is rather ambiguous. I came in here expecting the company you founded “My company” went bankrupt. It would be much less ambiguous if you said [The company I worked for] instead, as your post makes clear.

I realize that OP does not speak English as a first language so I offer this as a gentle suggestion. Good luck in your endeavors OP

Re: Ask HN: My company went bankrupt today and I have 2 options

#89

Post by ipaddr »

Being a bootstrap entrepreneur is about making money. Misery could help you focus or delay your future success.

I don't think you figured out how to sell. I don't think you figured out what to sell. But you are a great leader who can implement a vision and build teams.

I think you should go back full time until your business forces you to quit.

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