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A Less Risky Path to Entrepreneurship in Software Development
21–30 of 31 posts
Re: A Less Risky Path to Entrepreneurship in Software Development
#22I like the idea, but it was very simple: choose the right point on the spectrum of startup vs. skill building. This could have been expanded on much better.
1) Startups vs. skill building aren't always independent. This could be discussed.
2) Examples/stories of points on the spectrum should be discussed.
3) The pros and cons of different points on the spectrum should have been discussed.
Re: A Less Risky Path to Entrepreneurship in Software Development
#23How does codepen make money? Was it generating revenue in the first 5 months before the leap. I really want to do a similar move. I would really like to know more about this strategy
PRO accounts:
Re: A Less Risky Path to Entrepreneurship in Software Development
#24Although not completely related to the article - the headline triggered a reaction in me: Why do we need a less risky approach to entrepreneurship in software development? I believe that of all start-up opportunities, software development is already the least risky one. Why? Almost zero unvestment required. Absolutely flexible working ours. All value creation is through your mind work. No external milestones and so o…
While there's practically zero capital risk, there is a lot of career risk involved if you fail. Many employers avoid failed entrepreneurs like the plague.
Any examples? In my experience it's been the complete opposite.
Re: A Less Risky Path to Entrepreneurship in Software Development
#25So I did the same thing, also unwittingly, with my company. In hindsight, starting my company was completely risk-less. I was keeping my day job, learning a ton, building my personal brand, and had a full salary from revenue when I was ready to transition.
The next company I run, I'll probably be a bit more antsy to get full time since I feel I've also become less risk-averse now that my company is doing well. I've learned a ton on how to make money from SaaS products, and I'm gaining confidence.
Re: A Less Risky Path to Entrepreneurship in Software Development
#26I hate taking risks, but wanted entrepreneurship badly, I have kids/family, do not care about fast growth. My less risky path was:
- Save 12 months of personal expenses/ regular salary before starting. Anyone in software can do it.
- nothing to lose if it fails after 12 months, just a nice line on my resume, lots of lessons learned, I can monetize later.
- my main goal was to keep a 12 months money window ahead of me, everything I bring in helps me extend that window for another month, hopefully every month.
- It helped me to plan long term, not to be in a rush, not to be afraid quoting higher prices, not feeling a gun on my head, sleep at night, stay married, see my kids.
- Going strong after 5 years.
- I think fewer people should raise money, give up equity, and more should start less risky businesses in software.
- Go outside the Valley, try to disconnect from the "startup" myth, and embrace the small business one. Be happy, and rich.
Re: A Less Risky Path to Entrepreneurship in Software Development
#27Although not completely related to the article - the headline triggered a reaction in me: Why do we need a less risky approach to entrepreneurship in software development? I believe that of all start-up opportunities, software development is already the least risky one. Why? Almost zero unvestment required. Absolutely flexible working ours. All value creation is through your mind work. No external milestones and so o…
I would like to see a more wholesome path to financing, especially for the mid-risk businesses that VCs decry as "lifestyle" businesses. Software is inherently mid- to high-risk. "Low-risk" just doesn't exist in a world where half of all projects fail, and some fail for reasons not due to a lack of merit (but because they were built to a specialized purpose for which there was demand, but the situation changed). So b…
>> Software is inherently mid- to high-risk. "Low-risk" just doesn't exist in a world where half of all projects fail
Risk is a function of both the likelihood and consequences of failure. If you can try and fail a hundred times without quitting your job and only take that plunge when it is derisked (by increased information derived from operation) then it is inherently low risk. Sure throwing 100% into a startup from the beginning makes that individual effort more likely to succeed while being much more risky, but nights/weekend projects can evolve to sustainable businesses without increasing your risk profile. This is because the consequences of failure are near zero, and even a failed effort may be "profitable" in the net sense of connections and marketable skills gained.
Re: A Less Risky Path to Entrepreneurship in Software Development
#28Although not completely related to the article - the headline triggered a reaction in me: Why do we need a less risky approach to entrepreneurship in software development? I believe that of all start-up opportunities, software development is already the least risky one. Why? Almost zero unvestment required. Absolutely flexible working ours. All value creation is through your mind work. No external milestones and so o…
" Why? Almost zero unvestment required. Absolutely flexible working ours. All value creation is through your mind work. No external milestones and so on and so on..."
Not all costs are monetary.
When you have a family to provide for and responsibilities beyond those to yourself, your threshold for acceptable risk drops much lower.
Re: A Less Risky Path to Entrepreneurship in Software Development
#29Earlier quoted context omitted.
What kind of "ruin your life" failure do you think people on HN are at risk of undertaking? It strikes me that such levels of failure are very rare, at least among the set who even knows about HN in the first place.
A lot of these startups are pretty ugly when they let people go. Banks and hedge funds and large companies lay people off, but they're honest about it. They say, "we had to cut jobs", and they usually pay a decent severance. Many of these startups make those look like performance-based firings in order to save face. Needless to say, that practice creates a lot of ugly behavior on all sides, and you don't want that st…
Your post is so correct, that I'm running short of words of praise for it.
The problem isn't just in the US. I'm from India, and the situation you describe matches the very situation we have here.
One thing that really pisses me off totally, is the industry seems to classify people into two separate categories. First, the kind of people who become managers quickly are automatically considered good. Its almost like if you are coding after 5 years into the industry, you are 'stuck'. That's how its described.
Second, is the kind of people you describe as in having worked for technically meaty projects before say 30. Unfortunately such work is exceedingly rare to find. I would be glad if you can write an essay on how to be finding such work. It would help me and nearly everyone else a lot.
Re: A Less Risky Path to Entrepreneurship in Software Development
#30Earlier quoted context omitted.
I would like to see a more wholesome path to financing, especially for the mid-risk businesses that VCs decry as "lifestyle" businesses. Software is inherently mid- to high-risk. "Low-risk" just doesn't exist in a world where half of all projects fail, and some fail for reasons not due to a lack of merit (but because they were built to a specialized purpose for which there was demand, but the situation changed). So b…
>> Software is inherently mid- to high-risk. "Low-risk" just doesn't exist in a world where half of all projects fail Risk is a function of both the likelihood and consequences of failure. If you can try and fail a hundred times without quitting your job and only take that plunge when it is derisked (by increased information derived from operation) then it is inherently low risk. Sure throwing 100% into a startup fro…
>>Risk is a function of both the likelihood and consequences of failure.
Only in a mathematical argument. Failures are difficult to deal with personally, especially if you have to deal with them repeatedly without any sign of success around. The typical result is frustration gradually turning into a form of burnout and depression.