4 ms·

Ask HN: Startup doubts: Running out of money

13 points by tilb 16y ago

Hi HN, Since half a year I'm running a startup with a friend of mine. Now six months have passed and I'm running out of money. We are thinking about doing some consultancy work to bring in some revenue, but I don't know how easy it will be to get this work. Also, I'm not a coder and I have the feeling that there's not so much freelance work for a non-coding allrounder. I don't want a steady job because I think this will take all my time, and I would not have any time left for our startup. What do you think about this? I would love to hear some of your experiences/advice. Thanks a lot!

brk 16y ago
Without knowing more details, I would tend to lean towards suggesting that you raise some angel money, oir shelve it while you work a full-time and stack some cash in the bank. What you are describing sounds like the beginnings of a death-by-a-thousand-cuts timeline. When you say "running", are you actually running a business (ie: managing customers, cash-flow, growing the product, expanding the business) or are you still in the phase of building something and trying to attract a cashflow?
- tilb 16y ago
  Thanks for your comment. We do have some paying customers, but I guess we are more in the phase of building/improving and attracting customers.
  - brk 16y ago
    If you have something that looks like it could be a viable business, you should probably (IMHO) look at Angel funding. The cash accelerant is probably more valuable in the long-run than the loss of equity on your part. This is assuming (a lot) from the information you provided, which I seem to interpret as you're basically looking for some bridge money because you believe your company is viable, but just needs more runway.
oceanician 16y ago
It's very hard work getting bespoke work alongside writing a startup. Sales is hard. You're switching between projects ALL the time. EVERY day. Organically financing a project is hard. I'd advise spending time with past-funders and their networks to see if they can raise enough to finance you finishing development.
dennisgorelik 16y ago
If your business grow at the same pace as in the last 6 months -- how long would it take you to become ramen profitable?
derekc 16y ago
Get a part-time job. The constraints will be conducive to results.
hotmind 16y ago
We can brainstorm some ideas for you via Skype if you'd like. Just contact me. Deets are in my profile.

13 points by tilb 16y ago

brk 16y ago

Without knowing more details, I would tend to lean towards suggesting that you raise some angel money, oir shelve it while you work a full-time and stack some cash in the bank. What you are describing sounds like the beginnings of a death-by-a-thousand-cuts timeline. When you say "running", are you actually running a business (ie: managing customers, cash-flow, growing the product, expanding the business) or are you still in the phase of building something and trying to attract a cashflow?

tilb 16y ago
Thanks for your comment. We do have some paying customers, but I guess we are more in the phase of building/improving and attracting customers.
- brk 16y ago
  If you have something that looks like it could be a viable business, you should probably (IMHO) look at Angel funding. The cash accelerant is probably more valuable in the long-run than the loss of equity on your part. This is assuming (a lot) from the information you provided, which I seem to interpret as you're basically looking for some bridge money because you believe your company is viable, but just needs more runway.

oceanician 16y ago

It's very hard work getting bespoke work alongside writing a startup. Sales is hard. You're switching between projects ALL the time. EVERY day. Organically financing a project is hard. I'd advise spending time with past-funders and their networks to see if they can raise enough to finance you finishing development.

dennisgorelik 16y ago

If your business grow at the same pace as in the last 6 months -- how long would it take you to become ramen profitable?

derekc 16y ago

Get a part-time job. The constraints will be conducive to results.

hotmind 16y ago

We can brainstorm some ideas for you via Skype if you'd like. Just contact me. Deets are in my profile.