41–50 of 94 posts
I'm still trying to wrap my head around the idea that there's a world out there where you can just casually hit up Grammaw and Uncle Barry for twenty grand apiece. It doesn't really favor the notion that the startup world is an egalitarian meritocracy.
This is an anecdote, not a great insight, so feel free to skip: When I was starting a small theater company in NYC with some friends we raised money for our first off-off-broadway ("broadway", "off" & "off-off" are a definition of seating capacity, btw, not geography) show, we turned to friends and family for our funding. This was very much the norm when you were just starting out. Usually these were small amounts, a…
Well, next time, don't raise money from Friends and Family. Raise it yourself. Work for a few years, gain experience, live frugally and save. Then bootstrap with your own money, starting with your own money will really have you think harder than with other people's money.
I've always suggested this as well. But the truth is, almost everyone is too lazy and doesn't have enough financial discipline to do this. FWIW I've been bootstrapping my startup for the past year and we're finally making a profit.
That's easily a year's runway for yourself, or half a year with a cofounder.
Relevant: http://thinkprogress.org/election/2012/04/27/473096/romney-b... . Although it is a weird dichotomy if you think about it. People let parents pay for their college to the tune of $100k+ and don't feel any obligation to justify or defend the investment.
This is an anecdote, not a great insight, so feel free to skip: When I was starting a small theater company in NYC with some friends we raised money for our first off-off-broadway ("broadway", "off" & "off-off" are a definition of seating capacity, btw, not geography) show, we turned to friends and family for our funding. This was very much the norm when you were just starting out. Usually these were small amounts, a…
All that's required is that your family know you're in the throes of starting a company and suddenly you'll get lots of questions some perhaps hard to answer.
I'm still trying to wrap my head around the idea that there's a world out there where you can just casually hit up Grammaw and Uncle Barry for twenty grand apiece. It doesn't really favor the notion that the startup world is an egalitarian meritocracy.
It's especially true right now, as depression era children have all retired after a lifetime of deeply-ingrained frugal living.
Earlier quoted context omitted.
I'd say making $20-50k for 1-3 months of freelancing may be just enough to make me want to ditch the startup altogether.
Yes, freelancing is very lucrative, if you're a good developer with the right skillset. People are generally willing to give up a lot of money in exchange for a steady income guarantee.
Having done both, I find there's a level of engineering growth that you miss out of by doing freelance work. Most freelance work won't involve supporting millions of requests a day. There's value in that exposure.
I'm constantly bugged by the level of privilege amongst the startup crowd. Not even just being able to borrow from family, but being able to rely on them, or friends as something to fallback on when it all goes wrong.
There are a lot who seem to be seeking investment and I really don't get it. If your idea needs money then go make money... or don't be so selfish and take the risk and illuminate someone who does have the money. (hint, how dare you ever complain about patents when this is your attitude)
For me not having money rules things out. Borrowing that money to take a risk /is stupid/ it just is - even if it pays off - success is nothing to do with intelligence, sensibility or even doing anything right necessarily. I simply never enter into such an arrangement, nor does the thought realistically warrant consideration - I might lose my home and the few meagre possessions I have - along with an enjoyable lifestyle - if I screw up.
TL;DR - "This rule is so underrated, keep ya family and business complete separated"