You haven’t really said much about your personal situation and in this scenario it’s very important. - Do you have a family or other dependents? - How much do you have in savings? - Could you fall back on e.g. moving in with parents in the very short term if things go horribly wrong? Entrepreneurship is a wonderful adventure but at a very base level you need to be able to put a roof over your head and eat. As long as…
Ask HN: My company went bankrupt today and I have 2 options
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The other question missing is: Do you have solid co-founders to do it with?
Re: Ask HN: My company went bankrupt today and I have 2 options
#12Everyone wants to not work for someone else and be the decision maker and lead a team. Entrepreneurship starts with being a builder.
Re: Ask HN: My company went bankrupt today and I have 2 options
#13Everyone wants to not work for someone else and be the decision maker and lead a team. Entrepreneurship starts with being a builder.
I don't.
Re: Ask HN: My company went bankrupt today and I have 2 options
#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 things to become successful business.
Best of luck.
Re: Ask HN: My company went bankrupt today and I have 2 options
#15There'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?
Re: Ask HN: My company went bankrupt today and I have 2 options
#16Your other option is to get a steady part-time job that at least covers your basic living expenses, and work full-time on your own business.
Re: Ask HN: My company went bankrupt today and I have 2 options
#17Re: Ask HN: My company went bankrupt today and I have 2 options
#18DHH from 37 signals has good advice about this
Re: Ask HN: My company went bankrupt today and I have 2 options
#19Do you actually know how to run a business? Saying it's all about courage and other such nonsense suggests not. Maybe get a safe job and study business/get an MBA?
Re: Ask HN: My company went bankrupt today and I have 2 options
#20Kind of sad to think that a company just went bankrupt, while their employees were working on their own companies instead. No blame for OP. But what should managers do in challenging situations to prevent their team from losing focus?