
Ask HN: Should you find funding for your startup if you're freelancing to live? - naiveyoungin
Hi,
I&#x27;m a 20 yo developer, I&#x27;m currently working on an MVP that I plan on launching soon.
I worked on another project before, I left before launch because of personal problems(which are solved now).
I&#x27;m currently freelancing part-time to pay for my expenses while working on my project(I have a long term contract with one client).<p>Should I spend time and resources on trying to get funding to be able to work full time on the project? I want to apply to a program extremely similar to YC(in another country), I don&#x27;t know if this is the best use of my time and resources.<p>I&#x27;m fairly confident in my ability to build a good product and to market it decently, I&#x27;m not so confident about my ability to convince investors, pitching and powerpoints aren&#x27;t part of my strengths for now, also I don&#x27;t think I look really good on paper, I&#x27;m pretty sure I&#x27;m good at what I&#x27;m doing, but convincing investors of this could to be hard.<p>My goal isn&#x27;t really to launch a huge company, so I don&#x27;t know if this could cause a lot of issues when dealing with investors, I don&#x27;t know if I should try to hide or minimize this when looking for funding, or maybe try other forms of funding(crowdfunding, loans etc...)<p>I agree with Paul Graham who said on Lecture 3 of &quot;How to create a startup&quot;, that launching a startup(especially a would-be unicorn) at my age is probably a bad idea, that it&#x27;s too soon to potentially dedicate a decade of your life to your project if it gain traction, and that you should probably &quot;live&quot; a bit first(travel, trying different things..).<p>So my goal is mostly to be able to work on an interesting project that I chose while being &quot;relatively free&quot; in how I work, and maybe if I&#x27;m lucky reach &quot;financial freedom&quot; in a few years, but I don&#x27;t think that aiming to build a unicorn would be an optimal choice.<p>What would you do if you were in my position?
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willyg123
> So my goal is mostly to be able to work on an interesting project that I
> chose while being "relatively free" in how I work, and maybe if I'm lucky
> reach "financial freedom" in a few years, but I don't think that aiming to
> build a unicorn would be an optimal choice.

Please do NOT raise money if these are your goals. Investors will not bring
you freedom. In fact, they will bring the opposite. Check out Startups for the
Rest of Us [0] and Indie Hackers [1]. You will find dozens of founders and
companies that have created freedom through profitable internet businesses
without investors.

[0]
[https://www.startupsfortherestofus.com/](https://www.startupsfortherestofus.com/)
[1] [https://www.indiehackers.com/](https://www.indiehackers.com/)

------
buffaloo
Why do you need investment? I know there are stories of the gaxillionaire
kiddos from VC to IPO like Zuck, but I suspect dragging in a lot of
stakeholders with their complications, interests and control hurts more often
than it helps. Friends and family money can be well-intentioned, but “angels”,
VCs, etc. are purely profit motivated.

------
adventured
> I'm currently freelancing part-time to pay for my expenses while working on
> my project(I have a long term contract with one client)

That one long-term client is a large risk. Try to diversify your income, so
that it's not too dependent on that client (assuming you don't pursue
funding). The task of an entrepreneur is to eliminate risk, rather than take
risk (pop culture gets that wrong). Risk is what threatens the viability of a
given thing (whether your freestanding financial condition, or your MVP).

> Should I spend time and resources on trying to get funding to be able to
> work full time on the project?

Ultimately - as you probably realize - nobody will be able to answer that,
other than you. HN can be a good sounding board however.

> I'm not so confident about my ability to convince investors ... also I don't
> think I look really good on paper

Knock them out with the product. A great product can cure other weaknesses.
Everybody has weaknesses, that will never go away, even though you can lessen
their depth.

If you don't like powerpoint, don't use it. Powerpoint is ridiculous. You have
the best presentation tool there is: your product, make it the center of the
presentation.

> My goal isn't really to launch a huge company, so I don't know if this could
> cause a lot of issues when dealing with investors, I don't know if I should
> try to hide or minimize this when looking for funding

Don't give investors your position on what you're trying to do in that
specific regard. It will cause issues with investors; they will appreciate
your honesty and it will instantly turn most of them off. Even if they're ok
with funding smaller ventures, they won't like what appears to be pessimism
about their investment potential (that's how it will come across).

If by unlikely odds you create the next unicorn with your MVP, you can always
play a different role in the company other than President / CEO.

> loans

Do not take on loans. Not unless you have a solidly cash flowing business that
could benefit from borrowing to fund faster growth.

> that launching a startup(especially a would-be unicorn) at my age is
> probably a bad idea

Launching a start-up at your age is perfectly fine. Get the would-be unicorn
stuff out of your head. The odds are comically against that happening under
all circumstances, for nearly all entrepreneurs. It's one in a million. If
you're that fortunate, deal with it then.

> So my goal is mostly to be able to work on an interesting project that I
> chose while being "relatively free" in how I work, and maybe if I'm lucky
> reach "financial freedom" in a few years

Based on what you're describing, I'd avoid raising funding. Venture capital is
an obligation, it puts a new kind of stress and demand on your situation and
what you can do, it limits your freedom to pursue your product as you see fit.

If you can stand to do it, I'd turn up the heat on the consulting work, boost
your income there, and continue to fund your MVP via that means indefinitely.
That enables you to own 100% of your MVP. If your product does well, or you're
very, very certain that you have created something extraordinary (it's
obviously very easy to be delusional about one's own creations), then you
could still look at venture funding at any time. The more successful your
product is at the point of raising funding, the greater your negotiating
leverage.

> but I don't think that aiming to build a unicorn would be an optimal choice

Never aim to build a unicorn. Never, never, never, never, never, never, never.
I wanted to add a lot more nevers in there, but you get the point. Don't let
your mindset go there, it can only cause problems.

