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I spent two years launching tiny projects

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Re: I spent two years launching tiny projects

#91

Post by vmception »

dcchambers wrote: post #23

Does anyone let the tax implications of launching (several) tiny projects prevent them from even starting? I know LLCs allow for pass-through taxation and you don't have to file as a business, but I get frozen by the idea that generating a few hundred dollars in revenue from some silly side project means I have to spend hours/days of my time the next Spring figuring out how to properly pay taxes on it.

Thats a dumb reason to get frozen. Just in case you needed that perspective.

All your costs are tax deductions, whether you incorporate or not. The incorporation cost is negligible and you can ignore everything about a local/foreign llc registration simply because the consequences are improbable and inconsequential, just make the llc in the best states. If your employer is withholding any taxes, you’ll get so much more of it back because you have so many deductions now.

If you make any revenue its easy to count.

Your standing in society is based on gross revenue, your tax footprint is a fraction of net revenues. Its low key perfect. Net operating losses are the greatest of all time.

In addition, You get massively disproportionate security and anonymity by operating under entities you created. And you can prove product market fit in private and then inherit all the credit for it when it works.

Re: I spent two years launching tiny projects

#92

Post by danielvaughn »

marban wrote: post #46

I started my professional life ~25y ago with a side project that by 2022 led to roughly 50 more side projects — The vast majority failed, some turned into 200 employee businesses, some others got acquired. In essence, I make a living out of side projects. Side projects are life.

Your career is what I aspired to when I started in this industry over a decade ago. But what ended up happening was that I (a) worked full-time while dabbling on nights and weekends, (b) spent several years trying to decide which project I wanted to really pursue in earnest, and then (c) after picking the project, obsessing over it so much that I never felt it was ready to release. So it's...not going well so far lol.

Can you recall any specific thing you did that brought you success?

Re: I spent two years launching tiny projects

#93

Post by soperj »

jamiek88 wrote: post #77
mmcdermott wrote: post #67

Earlier quoted context omitted.

Perhaps. I always assumed it had more to do with offering better waterproofing, but maybe that's naive.

I swam for three hours today with my stock iPhone taking incredible 4K video of our diving and surfing adventure. that advanced waterproofing is awesome.

Wouldn't sea water be corrosive?

Re: I spent two years launching tiny projects

#94

Post by acuozzo »

danielvaughn wrote: post #92
marban wrote: post #46

I started my professional life ~25y ago with a side project that by 2022 led to roughly 50 more side projects — The vast majority failed, some turned into 200 employee businesses, some others got acquired. In essence, I make a living out of side projects. Side projects are life.

Your career is what I aspired to when I started in this industry over a decade ago. But what ended up happening was that I (a) worked full-time while dabbling on nights and weekends, (b) spent several years trying to decide which project I wanted to really pursue in earnest, and then (c) after picking the project, obsessing over it so much that I never felt it was ready to release. So it's...not going well so far lol…

This is my story as well, more or less. Want to compare notes? Perhaps figuring out what we have in common would help us understand what we're doing wrong.

Re: I spent two years launching tiny projects

#95

Post by acuozzo »

marban wrote: post #46

I started my professional life ~25y ago with a side project that by 2022 led to roughly 50 more side projects — The vast majority failed, some turned into 200 employee businesses, some others got acquired. In essence, I make a living out of side projects. Side projects are life.

If you have some time, would you mind replying to my "Ask HN"? https://news.ycombinator.com/item?id=31217221

Thanks!

Re: I spent two years launching tiny projects

#96

Post by herodoturtle »

marban wrote: post #74
herodoturtle wrote: post #72

Earlier quoted context omitted.

> some turned into 200 employee businesses Incredible comment overall but this line was particularly Woah! What advice would have for solo founders of a side project (that later becomes a full time day job) in terms of evolving to a large team? First hire(s), things to look out for, etc. I’d find this insight incredible! Hope I’m not asking too much. But such an incredible story you have.

To be honest, I would never do something that requires a single employee ever again. I sold my first company because soon enough, all you get to do is manage politics and not the thing you signed up for — Sounds infantile but at some point you have to stay true to yourself no matter the benefits. If you're more of a team-player, there are obviously better options today (remote, etc.) — The only thing I would recommen…

Doesn't sound infantile at all. I strongly resonate with everything you're saying.

A little over a year ago I submitted this Ask HN, which helps shed light on my situation: https://news.ycombinator.com/item?id=27039701

It is now a year later and I'm still wondering the same thing as I was back then (as in, I haven't changed up my work setup at all / haven't hired people). I do rely on contractors here and there, but it's rare.

I quite enjoy the peace and quiet that comes with no employees. These days I just do a bit of focused work each day, prioritise spending time with my family, and enjoy sticking to my daily training regiment (the latter has been a key aspect of my life ever since I started my entrepreneurial journey).

Every time I consider hiring people for the sake of more growth, I find myself asking if it'll be worth it, and whether I'll regret it.

I doubt I'd be able to enjoy the work/life balance I currently have if I were responsible for managing people at scale.

Perhaps I'm being narrow-minded here, but it's good to receive affirmation from someone whose done it all before.

Cheers mate.

Re: I spent two years launching tiny projects

#97

Post by mft_ »

Have you written anywhere about the technology you use underneath - from languages to libraries to hosting?

I’ve got a few ideas somewhere between just started and half-written, but I often grind to a halt when it comes to figuring out sensible hosting. As an amateur, the world of AWS vs. GCE vs. Azure vs. Heroku vs. many, many others is difficult, and there are scary stories about out of control costs abound.

Re: I spent two years launching tiny projects

#98

Post by pflanze »

acuozzo wrote: post #95
marban wrote: post #46

I started my professional life ~25y ago with a side project that by 2022 led to roughly 50 more side projects — The vast majority failed, some turned into 200 employee businesses, some others got acquired. In essence, I make a living out of side projects. Side projects are life.

If you have some time, would you mind replying to my "Ask HN"? https://news.ycombinator.com/item?id=31217221 Thanks!

It's too late to reply there (IIRC the commenting period closes after (about) 15d).

Re: I spent two years launching tiny projects

#99

Post by jjice »

I feel like having a bunch of tiny projects is probably a great way to learn a ton. I've slowed down on personal projects since graduation, but focusing on something tiny might be what I need to hear/do to get back into learning some new stuff. Good on the author/OP!

Re: I spent two years launching tiny projects

#100

Post by marban »

danielvaughn wrote: post #92
marban wrote: post #46

I started my professional life ~25y ago with a side project that by 2022 led to roughly 50 more side projects — The vast majority failed, some turned into 200 employee businesses, some others got acquired. In essence, I make a living out of side projects. Side projects are life.

Your career is what I aspired to when I started in this industry over a decade ago. But what ended up happening was that I (a) worked full-time while dabbling on nights and weekends, (b) spent several years trying to decide which project I wanted to really pursue in earnest, and then (c) after picking the project, obsessing over it so much that I never felt it was ready to release. So it's...not going well so far lol…

I think first and foremost is bringing yourself into a position that gets you enough runway (time and money) to be able to take things seriously — even if that sounds like the opposite of a side project. For me it was skipping university and having kids in favour of starting a web agency in the dotcom days. Also, I don't believe in working on something you love — you just need to hate it a little less than the other ideas and be positive that someone will find it useful. Like I mentioned below, luck and timing play an important role and these days I'd say you will also need one unfair advantage (contacts, cash, distribution, etc) to increase your chances.
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