How risky is it to start a startup vs having a good stable job?
Is there enough upside to starting your own product vs having a good stable job which pays very very well? I don't really want to do 14 hour work days where I'm building a product while working in the company also. During these times (tech industry recession), is there a good enough upside?
Aaron Dean
Stealth
2 years ago
I wrote a long paragraph on startup insanity and risk. Then saw your username, deleted it all and decided to stfu.
There is no easy way from the earth to the stars
- Seneca
Hahaha. That's a very apt Seneca quote. To do something bigger than generally possible, a certain amount of risk needs to be taken, and cannot be avoided i guess :)
Don’t do it without a good cushion of savings even after self funding it. Risk depends on ur talent and kind of people who tag along with u.
Go ahead and build MVP...if u find customers early on then leave job and work full time for startup but get good confounders who complement ur skill
Join startup only
1) good funding, raised their rounds in 2022 second half or few months back
2) you believe in their idea and see a pmf
3) how many people are in the team, credentials of the person leading the team
4) try talking to people who are already working there, I know this is tough there are many reasons why a person won't give you the clear picture but you have to try
Now if any of the above points are way too negative, don't join
Coming to the financial aspect
Always have 18 month fuck you fund
In your savings account
The fuck you fund rule is too important when you are working for startups
The order is this
1) health insurance
2) term insurance
3) fuck you fund
4) FIRE
Jordon Denver
Stealth
2 years ago
1. Have a financial cushion of (ideally) 12 months - vvvvvv important
2. It's extremely risky, but the reward (as low as the probability is) is also extremely high. That's why people do it. Maybe even more for the kick and sheer joy of building something that's your own! <3
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