
Ask HN: First startup / cold feet. Any advice ? - smwhreyebelong
Hi fellow hackers,<p>I have been thinking about doing my own startup for a while and I've finally gotten to the point where being really bored at my job at one of the Big Internet Companies, I quit.<p>Now seems like the best time to start something on my own since I have some money saved up and don't have a lot of responsibilities in my personal life. However, although I do have an idea, albeit not the best one I could think of, I am getting cold feet thinking the following :<p>- No safety net
- No income ... maybe higher expenses
- What if the company fails ? I would have lost this time.<p>Did anyone else here feel the same way when starting their first company ? How did you convince yourself that you should go do your own thing and not go work for another BIG firm with the security and lavish perks etc ?
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pg
What you're feeling is the reason even people like Bill Gates and Steve Jobs
needed cofounders. I'd recommend finding one. It will also greatly improve
your chances of succeeding.

~~~
cperciva
I'd add a slight caveat to that. This is why it's a good idea to either have a
cofounder or have a guru like pg tell you that you won't succeed with a
cofounder.

For me, the desire to prove pg wrong supplied all the motivation which is
normally supplied by a cofounder. :-)

~~~
asdflkj
How do you single-handedly prove wrong a statement like "it helps a lot to
have a cofounder"?

~~~
cperciva
I'm not trying to prove that it doesn't help to have a cofounder. In fact, I'd
agree that _in most cases_ having a cofounder helps.

It's more that I'd like to demonstrate that there are exceptions -- and so far
I can't think of a single instance where having a cofounder would have helped
me.

~~~
staunch
One of the most valuable things a cofounder does is shine light on your blind
spots. By definition you can't see these problems, but someone else who's
intimately involved can.

~~~
mhartl
A common argument is that it's valuable to have a partner as a sounding board
and as a source of moral support. These roles are vital, but they don't
necessarily have to be filled by founders. Einstein needed the help of his
friend Michele Besso to develop special relativity, but Besso wasn't a
coauthor on _Zur Elektrodynamik bewegter Körper_.

I don't see two as a natural lower bound on the number of founders. As the
productivity of individual programmers continues to rise, I expect to see an
increasing number of single-founder startups succeed.

~~~
eterno
I have also come to the same conclusion independently.

You need a sounding board and a source of moral support absolutely. This is
best done by a co-founder. However, it CAN also be done by someone who is not
a co-founder and more of an advisor.

Also, you do NOT absolutely need co-founders with complimentary skills. That
is a myth. Larry and Segie did not have complimentary skills. Bill Gates and
Paul Allen did NOT have ALL the skills required to build their business. They
had or developed (read learned) a lot of skills on the way, for which they
could not hire immidiately - which is the only thing that is required of a
founding team.

------
lionhearted
Random advice you'll need: Spend as much time as you possible can trying to
get money.

Just start now. Get some money.

Do it. Get some money. Are you spending time getting money? No? Do it! Stop
redesigning your website. Get some money.

Product's rough? Offer it for 20% of what you'll sell it for later, with free
upgrades. Do it. Get some money.

Are you spending time getting some money? Spend more time getting money.

Man... get some money. Stop messing around with a logo. You don't need a logo.
You need money.

Improving the product? I actually spend waaaay too much time historically
doing product development. I understand. But STOP! And get some money.

Get some money, man. From customers or clients. Beg for money, barter for
money, work for money, do way more than you'd ever reasonably do for some
money.

Just get some f*ing money, man. Money means people value your things and
you're on the right track. Get money. ASAP. Especially in your first business.
Money means you can sell, money means you can get loans, money means the
business banker takes you seriously, money means they break the rules and wipe
off charges for you (or give you telephone wire-transfer access before you're
qualified, which you need to pay people when you're outside the USA traveling,
and trying to get money from some people in Berlin). Money means you get lines
of credit, or net-30 terms instead of paid up front. Money means later, you
can pay people to do the most horrible aspects of your business once you've
fully mastered them. Money means you're doing something of value.

Mate - stop designing your logo and color scheme, and get some money. It's the
only way.

~~~
vlad
Great job. While such a discussion really makes me miss Startup News, the more
posts like this, the merrier, for me.

------
andr
Don't think about the worst case scenario if you start a business. Think about
the worst case scenario if you don't do a startup.

You are 40. Every day you work 9 - 6 at the BIG firm. Even after getting
promoted several times, getting the corner cubicle in the process, you are a
relative nobody amongst the other 1000 managers. You hate your job and you may
be starting to hate your life. There have been 5 different economic slumps
during your career, having you worry about your job and your family's survival
every time.

The opposite case: You have started and sold two companies and are now working
on the third one, after taking an year-long sabbatical in Egypt. True, your
first startup failed and you had to eat ramen for a few months, but it only
made you stronger, and no one remembers that now.

Of course, I'm exaggerating a little, but you get the idea. You will
experience failures, but that's the small price everyone has to pay when they
aim for the sky.

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moe
_Did anyone else here feel the same way when starting their first company?_

Yes. I'd go on a limb and say that _everybody_ feels that way when starting
their first company. I'm on it right now and feeling it most certainly.

I convince myself by reminding me that I believe in the business model and in
my skills, I honestly think I can pull it off.

In the beginning make sure you believe in your thing and try to be realistic
about your planning. Base everything on pessimistic assumptions. How long will
it take you to launch something, how long until you can realistically expect
your first $1 of income? What unknowns are there and how will you deal with
them? Write down your most important figures, juggle them around in excel,
make sure to have a good feeling for what you're getting yourself into. If the
figures say you can't do it then re-think your idea. If the figures say you
can do it then try again with more pessimistic assumptions. A good business
model looks promising even under most pessimistic assumptions. You definately
want one that's robust enough to still work even when many factors turn out
less than ideal.

Also make sure to realize that it will be much harder than you can possibly
imagine. You definately need persistence. Easily more of that than you've ever
needed before in your life. Stuff will go wrong, people will tell you that
your idea sucks, work will overwhelm you. Be prepared to handle that without
losing focus. Never panic. Don't torn yourself apart by trying to do
everything at once.

If you think you have enough discipline to manage that then, by all means, do
it. Remember you don't have much to lose. You can stop at any time and the
expiriences you gained will help you either way.

~~~
tjic
Agreed. <i>Everybody</i> feels that way when starting their first company.

------
suhail
You will fail, especially if it's your first time. Many of the most successful
entrepreneurs in the world failed 6-7 times before they figured it out.

The best thing about failing is learning why you failed. If you're afraid of
failing, you should give up now because you're not cut out for this thing.

Depending where you are in life, you'll need to assess your risk. It's going
to be hard if you have a wife and kids.

~~~
smoody
I didn't fail my first time. And you're not _guaranteed_ to fail by any means
so please don't let anyone convince you of that.

I have never recommended a Paul Graham essay on this site (something that I'll
never be able to claim again), but I highly recommend you read this one:

"How Not to Die" (August 2007) <http://www.paulgraham.com/die.html>

~~~
suhail
heh, "failing" is subjective and is dependent on certain variables (e.g.
connections, capital, experience, etc)

If he plans on becoming a multi-million dollar company and this is his first
time, then I would say, yes he will fail and that's not a bad thing. You have
to work at it a few times before it works out. Sure you can get lucky but I am
trying to be a bit more pragmatic.

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markessien
You won't lose anything, because you'll compress a lot of learning into that
time. Just be quick to release, because you start learning after you release,
not before.

Pre release is like building a boat. Post release is like sailing out in a
storm.

------
smwhreyebelong
Thanks for the prompt replies, everyone ! I do understand the importance of a
co-founder and am in talks with a couple of people I worked with before.

A couple of reasons why I am hesitating are :

1\. I feel like I should get some experience in a startup before I start my
own.

2\. I know the idea has merit but I haven't done any market research yet so it
might end up worth nothing.

Do you guys think one should work for a startup before starting one's own ? Is
the experience VERY helpful ?

I thought about doing that but then I feel I wouldn't have as much control
over the proceedings as I would like to have... to take the company in a
particular direction.

~~~
moe
I have worked in a startup before (in fact, I have worked only for startups in
my life) but I don't think that's necessarily a prerequisite to starting your
own.

When you enter a "classic", funded startup as an employee then you won't get
in touch with the meaty details outside your area of expertise more than you
would in a conventional company. Thus the "new" aspects about founding a
company remain new, even if you went through one as an employee before.

~~~
vlad
Another great post. Wow, you guys are awesome today.

------
raffi
At the end of Feb, I will have gone one year without a job. By choice. I spent
that time finishing grad school and working to get some things off the ground.

I used to have cold feet and sometimes I really hated my own guts for throwing
my savings away for what felt like "spinning my wheels". I was also afraid of
losing my bargaining power/credibility in my old community the longer I spent
time away from it (unfounded fear FYI). Oh and I had months where I felt like
I wasn't making progress fast enough and I had many days full of questioning
myself. I should note I launched two projects during this time that saw very
little interest--finding this out early is a great argument for release early,
release often.

Anyways, there is a happy stop gap in here somewhere. I launched a project in
November and it gained interest and started making money. The profits are
nothing huge but making that first $1 is huge to developing that
entrepreneurial confidence. Its a small milestone but celebrate it anyways.

Now I'm getting close to ready with my big startup effort. Its based on one of
the aforementioned failures but I'm using the lessons I learned and I'm really
excited about it.

It took awhile but after a few breakthroughs I'm glad I took the jump. If I
don't succeed now, I feel its certain I will later. Each effort I'm learning
different things and starting to develop a mental model of what works and what
doesn't.

Its one thing to read "write to bloggers to help market your product". Its
another to write to them get zero response, refine your pitch, add a mediakit,
and then try again and succeed.

My point is--you may have some growth to experience before you're ready to run
a successful company. However, no matter how much growth you've got to go
through, you may as well start now. It doesn't happen on its own.

Oh last point--to quit your job is a decision only you can make. I find when
my personal needs are met its hard to force myself to do things that are
painful but necessary for growth (i.e. get started). Even when I had
significant savings left, I still felt too comfortable. Seeing my savings
dwindle offered a great kick in the ass to move :)

I'm consulting now to meet my financial obligations but am nowhere near
comfortable. This makes the whole thing feel like a "mission" and I love it.
YMMV.

Good luck!

------
jacquesm
Keep that feeling, it's your biggest asset. The moment you lose it is when you
should be looking out real hard for trouble because it is bound to happen.

Insecurity at some level is one of the biggest drives to succeed, even if most
successful entrepreneurs would never admit to it.

There is no such thing as a 'failed' startup, there are no such things as 'bad
questions'. Even the worst startup experience will teach you more than years
of business theory will ever do and even the most silly question deserves to
be heard and answered in a serious way.

Don't let anything or anybody stand in your way of trying and give it your
best, you'll probably be amazed how far that will get you on momentum alone.

For me the turning point came when I was out of a job and my gf was pregnant,
it was all or nothing and it worked out pretty good, 15 years and counting.
I'd never go back to a day job no matter what the compensation and 'perks',
there is no better perk than to know that you are moving under your own power.

------
wheels
When I was talking to one of the local luminaries in the startup scene he said
something that seemed really "on":

"It's uncertain what the worth of your startup will be. However, you can be
certain that your personal worth will grow enormously."

If you approach your first startup as one of the foundational personal
education experiments that you'll go through it's a win-win. Before starting a
company I _thought_ I knew something about business. A year in it's amazing
how much I've had to learn just to keep things functioning. If you approach it
with that mindset, and keep your cash-flow tight, I think you'll find that as
a personal investment it's an extremely worthwhile experience -- even if it's
just to realize that the startup game isn't for you.

------
danielrhodes
You don't have a safety net? You'll find you don't need much of one. If you
have money saved up, reduce your expenses and figure out a time-frame for it
to work. By the end of that time frame you can decide what you want to do. You
would be surprised how well you can scrape by if you really want to.

What if the company fails? Who cares! You'll learn so much about what you are
doing, yourself, and much more that you will benefit either way.

------
sgupta
"What if the company fails? I would have lost this time."

You're going to learn a lot while doing this - more than you would have at any
corporate job - so regardless of what happens I wouldn't consider your
experience a failure. The financial outcome isn't the only metric involved in
success.

------
brandonkm
Having a cofounder != an increased chance of success for your startup. Having
the right cofounder that is as excited about your product and is as determined
as you are to make something thats awesome will be the difference between
failure and success.

------
alexmac
Whether you decide to quit your job or not, do the startup anyway.

------
smwhreyebelong
Thanks for the invaluable advice, everyone. Really appreciate you guys taking
out the time to reply !!

I've made the decision ... it's going to be a startup. If nothing else, it
will be one dandy adventure !

thanks again!

~~~
jacquesm
best of luck!

(and of course I'm really curious what it is that you're going to do).

~~~
smwhreyebelong
thank you!

I have a couple of ideas; not sure which one I'd work on (time to do some
research). I'll stay on here and be in touch with the community and ofcourse,
ask for feedback when I have something to show.

------
ahoyhere
By "no safety net" do you mean no savings? That's how I read it at first. In
which case, run, don't walk, away from the startup until you have some in the
bank.

BTW, our "startup" is earning money after the first month we shipped. We made
$1500 on the first round of 30 day trials. (Now we're up to about $2000, as
we're rolling towards 60 days - and thus another wave of charges - but not
there yet.)

That's not enough to live on, but you can make money right out of the gate if
you:

1\. Solve a real business problem.

2\. Solve a REAL business PROBLEM. That doesn't mean inventing some new tech
thing and then looking for a problem it can theoretically be applied to, &
expecting people to eat it up like pigs eat slop.

3\. Solve a real BUSINESS problem. If it adds actual bottom-line value, people
will pay for it.

And if you're not doing a service people will pay for, you're going to be
freaked out until those savings are gone, because your only option will be a
buy-out.

EDIT: I have grander plans too beyond this first money-making service, but I
_do_ care about it itself, as well. I don't recommend doing something you're
going to come to despise to pay the bills. Might as well have a job, at that
point.

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shiranaihito
Work on your project for a couple of months, and see how it feels then.

If you're feeling good about it, do continue, if not, think of something else.

