Poll: Are you looking for an exit, or building a lifestyle business? • Hacker News Board

Re: Poll: Are you looking for an exit, or building a lifestyle business?

#21

Post by martius » Fri, Dec 27, 2013, 4:14 PM UTC

davidw wrote: post #17

mmaunder wrote: post #15

This question is so naive and it's loved by the lazy because it lets them indulge the fantasy of either telling their boss to get stuffed and getting paid for doing very little (lifestyle biz), or getting paid millions and never have to work again (exit). I really dislike this question and I tend to distance myself from entrepreneurs having these kinds of conversations. Even if you want to exit early or have lifestyl…

> How do you think Steve Jobs would have answered this question? Err... you talk about naive, and then cite an outlier amongst outliers? I'm not Steve Jobs - I'm much more average, and I've made my peace with that. I think I can eke out a niche for myself where I can live comfortably though, so focusing on that makes much more sense to me than trying to ape someone who lived a very different life from mine. As far as…

I think (at least I hope) he was doing irony.

Re: Poll: Are you looking for an exit, or building a lifestyle business?

#22

Post by graeme » Fri, Dec 27, 2013, 4:15 PM UTC

Lifestyle business. I want freedom to do what I want, when I choose. I've created something that more or less allows me to do that.

Re: Poll: Are you looking for an exit, or building a lifestyle business?

#23

Post by mindcrime » Fri, Dec 27, 2013, 4:20 PM UTC

I'm looking to build a large, sustainable business for the long-term... a company than can IPO someday and become an institution that stays around long after I'm gone.

Re: Poll: Are you looking for an exit, or building a lifestyle business?

#24

Post by lloydt » Fri, Dec 27, 2013, 4:23 PM UTC

japhyr wrote: post #5

lloydt wrote: post #3

Started with a plan to prove our business first as a lifestyle business. Got customers, got usage, got revenue. We raised our first round when cash flow positive (which was much easier to raise, because we had a real business). Then a year later even a bigger round. Make it a real business first. Don't start life as a capital crack baby.

Once you had revenue, did you feel like you had to take funding? For example, without funding you would have lost so much traction that you would have been unable to continue building your business?

No, we never felt pressure to take funding. We thought of funding is a tool to speed things ups. We built our product, customer base first. The first versions were rough and needed our involvement to a much higher degree then it does today.

We decided "we can grow faster then our revenue if we have cash". We raised our seed from investors we knew well that would have been happy with dividend returns.

After another year, of great traction we decided to go for an 'A' to prove out the sales model. We still had 3/4ths of the seed round in the bank at this point so we only needed the money for growth, not operations.

Re: Poll: Are you looking for an exit, or building a lifestyle business?

#25

Post by tlongren » Fri, Dec 27, 2013, 4:23 PM UTC

I just want to grow my business and keep on running it. Have no intentions of exiting.

Re: Poll: Are you looking for an exit, or building a lifestyle business?

#26

Post by tgflynn » Fri, Dec 27, 2013, 4:24 PM UTC

I want to start a business that gives me the freedom (in terms of both money and time) to pursue my real goal, which is to build advanced general purpose robots. So I guess that's kind of like a "lifestyle" business but doesn't have much to do with what the term "lifestyle" usually implies.

I checked option 3.

Re: Poll: Are you looking for an exit, or building a lifestyle business?

#27

Post by seivan » Fri, Dec 27, 2013, 4:27 PM UTC

I'm just looking to finish one of my damn (never ever profitable) apps, heh.

Re: Poll: Are you looking for an exit, or building a lifestyle business?

#28

Post by brentm » Fri, Dec 27, 2013, 4:29 PM UTC

I think regardless of what the majority is saying, most people want an exit of their business eventually. Even if only for the fact that being able to work on something new is fun and challenging.

Re: Poll: Are you looking for an exit, or building a lifestyle business?

#29

Post by japhyr » Fri, Dec 27, 2013, 4:31 PM UTC

mmaunder wrote: post #15

This question is so naive and it's loved by the lazy because it lets them indulge the fantasy of either telling their boss to get stuffed and getting paid for doing very little (lifestyle biz), or getting paid millions and never have to work again (exit). I really dislike this question and I tend to distance myself from entrepreneurs having these kinds of conversations. Even if you want to exit early or have lifestyl…

> getting paid for doing very little (lifestyle biz)

You couldn't be farther from my understanding of what a lifestyle business is. I understand a lifestyle business to be one that you plan on making part of your life for the long term. It is meant to provide enough income to live at a certain level (ie lifestyle), but not necessarily to become filthy rich, or result in an IPO, or some other exit point.

What makes you think a lifestyle business implies that people want to be lazy?

Re: Poll: Are you looking for an exit, or building a lifestyle business?

#30

Post by buckbova » Fri, Dec 27, 2013, 4:32 PM UTC

Currently I'm working as a database architect but, I would love to consult or start a development business.

The most difficult part I see is where I'd get clients. Seems like I'd need to specialize in some CRM/etc or have a really good network to draw from.