I understand if someone is asking this question, the person isn't ready. But would like to know from founders, what was your motivation ? What pushed you over from a 9-5? Is it just taking a bet on yourself and working towards solving the problem?
If you’re building a product, get a Product Market Fit by pitching to a closed audience or building a prototype for a closed audience or getting some investment.
If you want to offer services, I’d say you need a strong network and experience handling 5-6 clients.
In either cases, have a runway of 1 year is unmarried, 2 if married and 3 if married + kids. ymmv. And a Plan B, if it fails.
Unless your idea is exceptionally good (a rarity) or you’re entering a market that has very few providers but multiple potential takers, I wouldn’t recommend quitting and building.
Started small, went full time when it grew. Key is to start small and not think too big from day 1. Get your first 100-1k customers, then you'll know if you have something that'll grow or not.
Take care of liabilities and ensure you have runway of 2-2.5 years. I am assuming initially you intend to bootstrap before deciding if funding makes sense or not for your business.
Frankly there is little downside and a ton of upside in starting up as long as you have solid skills. The worst that can happen is opportunity cost of 2 yr of starting up. However as long as you are hardworking, smart, scrappy and tenacious - you will learn at an insane pace. You will be able to grow much faster in your career even if the startup fails.
Building startups is like a game. You need to play enough iterations and ensure you don't die - incur insane debt/ break down mentally or financially or relationship wise. Eventually you will get better, enjoy the game and hopefully win the game.
I have a few ideas for products I want to build in few niche spaces. At the same time I’m always a bit skeptic in discussing this with friends thinking they might ask for too much equity in partnership
The downside is that I feel I have...
I've a great idea and it's validated after talking to more than 50 founders/head of sales.
Questions -
What's the process of getting a domain/and checking if the domain/product name is not a brand name globally anywhere?
Wrt rais...
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