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Farewell NYC (and YCW11 rejection next steps)

richpalmer.org

1–10 of 28 posts

Re: Farewell NYC (and YCW11 rejection next steps)

#5

Hey Rich, good luck on your move to the Bay Area and thanks for starting a blog to provide more insight into your mindset. One quick question, how are you getting the expenses down to $148/month, that will barely cover utilities at any 1-bedroom apt. in the city.

The expenses are pre-rent/laundry/internet/etc right now. That number will go up significantly after we find out where we are living. We have budgeted for about 1300 per person per month.

Re: Farewell NYC (and YCW11 rejection next steps)

#6

Hey Rich, good luck on your move to the Bay Area and thanks for starting a blog to provide more insight into your mindset. One quick question, how are you getting the expenses down to $148/month, that will barely cover utilities at any 1-bedroom apt. in the city.

The expenses are pre-rent/laundry/internet/etc right now. That number will go up significantly after we find out where we are living. We have budgeted for about 1300 per person per month.

If anything, budget for slightly more than you think you'll need. I just don't see how 1300/mo is going to be possible.

Re: Farewell NYC (and YCW11 rejection next steps)

#7

So, because its one of your follow up questions, why do you feel the need to move to SF from NY?

I'm working on a post for that. Our friends and family are mostly in the North East, so we needed to think long and hard about the pros and cons of either scene.

BTW, looks like you are in San Diego. Why did you choose that area (besides the fact that the weather is 62 in SD vs. 34 in NYC)?

Re: Farewell NYC (and YCW11 rejection next steps)

#8

So, because its one of your follow up questions, why do you feel the need to move to SF from NY?

I'm working on a post for that. Our friends and family are mostly in the North East, so we needed to think long and hard about the pros and cons of either scene. BTW, looks like you are in San Diego. Why did you choose that area (besides the fact that the weather is 62 in SD vs. 34 in NYC)?

I'm from San Diego, so after completing college, I came back here. It was the default place to go.

I'm now getting an itch for some bigger city life, and to take some time away from usual and familiar routine. SF and NY are tempting options.

Re: Farewell NYC (and YCW11 rejection next steps)

#9
Remaining at IQ while working on your market research would have been my preferred option.

Fastest way for that, by the way, is to visit the expo of your target industry. I am visiting an expo for beauty products in the near future, for example, as that's one of my target markets. Lots of people will have nothing better to do but to talk to you about their problems while everyone else is in their sessions. :)

You business analytics background will be a major asset when analyzing customer pain.

You have about 6 months to build something to a revenue-positive stage. Doable? Sure. :) See you at one of the many startup events.

Re: Farewell NYC (and YCW11 rejection next steps)

#10
I give you a lot of credit for making the jump. This is exactly what I did, and it was exactly a year ago that I quit my well paying day job to jump in with both feet. Our start was similar to yours too, we had an idea that got some funding from an incubator. We had some prototype and our idea wasn’t really proven at all. I found HN, read Founders at Work and every one of PG’s essays too. I felt exactly what you’re feeling now. Ride that high as long as you possibly can. You’re going to have an amazing journey no matter where this experience takes you in the end, and I can promise that you won’t regret anything.

With that said, please think about if this is really the right time to make the jump. As you know, an idea is worthless, it’s about execution. Testing can take forever to find the right direction to go in. When I was making the jump I always told myself that we’d figure something out before our runway ran short. We had so much time to do it, how could we not? Well, we ran out of time and could never find that key feature to make us profitable. I did a million things completely wrong and so will you, but you don’t need to quit your job to make those mistakes and learn from them. I always try to encourage people who want to make a similar jump to make the really dumb mistakes when you can pay your bills with a 9-5, not when those mistakes can cause you not to eat for a night. I personally think it’s a bad idea for anyone to quit a job just to waste time building and testing an idea. I feel it’s best to make the jump when you find something that’s working and use all the new free time you get from quitting the 9-5 to sell/test/improve that. When you find that revenue driving feature or idea you can easily improve on what you have, but If you have nothing you can be stuck trying to find it forever.

I wish you the best of luck, and I'm looking forward to reading more updates as the company grows. Your team sounds like it has a lot more experience going in than mine did, so I'm sure you will figure something out soon.

If you're interested where I am now, I’m actually writing this from my desk at the same 9-5 I quit a year ago. That’s right, I’m back working at the same place I left (I guess they liked :) ). I don’t regret a thing, but in hindsight I do wish I waited until the vision I was going on was a little more clear and mature. I'm 100% sure I'm going to give it another shot in the future, and I'll get a lot further than I did this time thanks to everything I've learned.

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