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How I built a startup while working full-time in Finance

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Re: How I built a startup while working full-time in Finance

#41

The most important part of the article: "If you are ever consumed by an idea, focus on that idea and see where it takes you. Your obsession with it likely means that it embodies your passions and values."

Obsession is a dangerous thing. It clouds your judgment and ability to think rationally. Sure, it provides the energy to work all day on Saturday and Sunday, but it also causes you to quit a high paying job to work on a webpage with a play button and a link to share on Facebook.

Re: How I built a startup while working full-time in Finance

#42
post #4

Congrats on the launch! And thanks for sharing your experience with us. I'm at the start of a very similar process. I've been sitting on an idea over the past year and had a false start with a co-founder. I'm now pushing on on my own, so you've given me some great ideas on the various stages. Thanks for the inspiration!! Good luck!!

Fourmii - I'm about a two months away from launching my site after having not one, but two false starts with co-founders that made me decide to go at it alone as well. In hindsight I wish I had a co-founder or at least a mentor who's built and launched a site before. Most of my decisions were off and/or not immediately necessary for the launch. Even choices that I thought were brilliant turned out not as expected. None of this has to do with the product itself, but just getting from development to launch. good luck!

Re: How I built a startup while working full-time in Finance

#43
post #14
post #9

Earlier quoted context omitted.

I think people underestimate how much you can get done if you commit to at least 1-2 hours during the week EVERY DAY, and at least another 12-16 hours on the weekend. Working during the week is critical, even if it's difficult, simply because it keeps the momentum going and motivation fresh (in my experience of trying it every other way). It's also a deceptive 30-80% additional capacity than what you have merely work…

Sounds good in practice, but I have a real hard time building anything in 1 hour increments. I need a good 3-4 hours scheduled to make solid progress on any of my side projects. I have a feeling others may have the same problem... and PG described this pretty well in his "makers schedule" essay.

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Re: How I built a startup while working full-time in Finance

#44
post #7

This doesn't really address any practical issues you faced in holding down a full-time job whilst also building the startup. Based on the title, I was expecting more. Something like how you managed your time? That said, congrats on launching.

I worked most nights during the week for a 1-2hrs and every weekend, sometimes spending full days working on the weekends. I found the time when I could and delegated work to my cofounders who did the same. It was just a lot of hard work and extra hours. I sacrificed some social life but still managed to enjoy New York hugely over the past year.

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Re: How I built a startup while working full-time in Finance

#45

> I obviously needed to find someone technical to build the website, whether a freelancer or a cofounder. Two jokers drop out of Goldman Sachs after a very short employment stint and hire some kid to build them a Facebook-based link-sharing game that targets emerging artists who have no money on the most garish website I've seen in quite some time and all he gets credited with is Lead Engineer. Not even Mr. Lead Engi…

Pretty much the most rash conclusion ever based off not much information. Why would a freelancer potentially getting paid to build something be wasting time with a project, even if the idea isn't solid? Not every coder out there is going to be hacking away creating the next Facebook or Twitter; some people like building skills, relationships, and getting paid while doing so.

Re: How I built a startup while working full-time in Finance

#46
post #31

> I obviously needed to find someone technical to build the website, whether a freelancer or a cofounder. Two jokers drop out of Goldman Sachs after a very short employment stint and hire some kid to build them a Facebook-based link-sharing game that targets emerging artists who have no money on the most garish website I've seen in quite some time and all he gets credited with is Lead Engineer. Not even Mr. Lead Engi…

You have basically speculated the intentions of three people, the relationships they have with one another, and the outcome of their company all from this one line. Pretty impressive. It sounds like you've watched The Social Network one too many times. Constructive criticism would be of much more value. Further, it seems you are completely ignorant to the contributions that skilled businesspeople can make to a startu…

haters gonna hate

Re: How I built a startup while working full-time in Finance

#47
we all too often beat up on founders that stay at their jobs before committing full time to a startup. staying at your job isn't always a bad idea at first. taking the risk out of the startup lifestyle suggests this guy will do the same with investors' money when it comes to the life of his new company.

Re: How I built a startup while working full-time in Finance

#48
First off, congrats on the launching the site! It looks great. I played with it but I am having a hard time trying to figure out the business model. Is the key revenue stream advertising?

When I look at last.fm, it also sells other music related items such as ringtones, and also advertises. I can't understand last.fm as well.

Re: How I built a startup while working full-time in Finance

#49

Earlier quoted context omitted.

> Facebook-based link-sharing games are loser projects you need to avoid. Can I be any more clearer and constructive to a young developer looking to break into the industry? Okay, maybe I should've added that if you need the money, feel free to do the work but don't go putting your name on it and make sure get paid up front. I'm not speculating on what intentions the two non-technical people on the team have as when…

Facebook-based link-sharing games are loser projects you need to avoid. Mark Zuckerberg had a professor at Harvard who tried hard to convince Zuck to stop wasting time on this stupid facebook idea and get more serious about his degree. Your advice to the developer sounds similar to the advice given to Zuck by his professor.

That's probably good advice. A startup is a bit like gambling and recommending that a student finish their studies rather than bet it all at the casino is solid advice.

Zuckerberg made a rash decision and got lucky. there were many similar sites at the time and anyone claiming to know which, if any, would become the big social site isn't being very honset.

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