

Ask HN: quit job and dive into the deep end? - throwaway1336

hi hn,<p>i'm at a situation where i am about to quit my job, and just dive head on into starting a startup.<p>We have about $50k saved between the two of us. Is that enough?<p>I realize this isn't an exact science.. but how do full timers make the transition to a real startup?<p>I dont have any long-term expenses (no mortgage, no car payment, etc).
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truthseeker
I quit my job few months back. How much money you have in the bank has no
bearing on how you feel about not having constant income. (fyi, I saved up lot
more than your number). On a day without much progress, I stress myself that
had I been at my job and goofed off, I would still make the money.

Here are a few tips: 1\. Have a project that you are ready to launch. 2\.
validated from users/customers that they are interested in it. 3\. Figured out
how to market your project/product.

I had 1) but not 2 and 3. It is a long process to learn what customers care
about and what channels you need leverage to market it.

I read everything about startups over the years , worked at one and still wish
someone told me specific things like 1\. How to validate a project idea before
you spend too much time on it. 2\. How to effectively market it.

Goodluck.

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veyron
What is your burn rate? Take the average of the expenses over the last year.
That will dictate how long you can continue without having to worry about
outside income.

Now, I assume you have the idea already, so do you expect to turn profitable
(or large enough to raise angel/vc money) by the time youve burned through the
savings?

Do you have kids? If so, you need to worry much more about the buffer

But even if all of that is squared away, natural instincts will tell you its a
bad idea. Especially if you have been in the working world for a long time.
This is natural, and expected, that you would be nervous about making the
jump. That being said, there are many people (do a search) that have done the
same thing on weaker bases.

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Travis
I recently have switched to half time at work so I can push forward with my
startup. Worked out well for me (still have some outside income), and for my
company (they were dependent on me as a single point of failure, so me leaving
over 6 months means I can train my replacements).

Most importantly, I've felt a renewed sense of purpose. I can't emphasize
enough how much my productivity has soared and my spirits have risen.

It's scary as hell, but I've never felt more alive.

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ulisesroche
I wouldn't do it unless my webapp made at least $0.25 a month (but I've been
accused of hastiness before).

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jdsadow
if you're seriously considering it, shoot me an e-mail at jdsadow@gmail.com.

we're looking for someone to start prototyping and are about 2-3 months into
things and have vetted the concept about as thoroughly as possible.

would love to share and chat.

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Mz
I would ask how much of a runway that gives you and do you think you can get
to profit in the time estimated? The answer depends in part on how much you
spend each month and in part on how well developed your concept is, plus a few
other factors. For example: Is $50K something you can live on for 2 years or
is that six months living expenses? (etc)

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throwaway1336
thanks mz...

the runway would likely be a year. id imagine that it should be doable.. to
get a webapp running (im a great programmer) and profitable right?

i havent got a concept yet, although i have a lot of ideas (6+) that im
starting to build the case for.

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EECS
Whatever your estimates, usually double it or reduce it in half against your
favor. Clearly that formula doesn't always work for everything but estimates
are often off and things happen, you need to pivot, shit comes up and money
runs dry, whatevers... So if you think it takes 3 months to launch, assume 6
but strive for 3 or sooner. If you think you got 12 months run way, assume 6
but strive for 12+. It'll help ground you in case shit happens. 6+ ideas is
too many (but I think you already know that). Before jumping ship, I'd
recommend getting somewhere with iteration, MVP, anything... that gives you
indication that this is a good bet to jump ship for (to an extent). Run with
it and hope for the best (READ: work your ass off). Good luck

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JacobIrwin
Go for it. Really.

