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When I started my company like 10 years ago, I also had savings for only like 4 months. However my plan was not to do games specifically but anything that pays

When I started my company like 10 years ago, I also had savings for only like 4 months. However my plan was not to do games specifically but anything that pays the bills. Though I made one game as well but more like for fun and training, not for money. My various products did little money, though I had to look for gigs quite often to support the development. After 1-2 years I made enough money from the products so that I didn't need the gigs any more. As a developer it is quite easy to find contracting/freelancing gigs if you need money quickly. I don't know in what kind of business environment this guy lives, but I've never felt that those with programming skills need to stress about savings that much, because there is so much short-term work available if you want it. Of course it is not the kind of work that many would want to do, but it pays the bills.

worldsayshi 9y ago
I'm curious what kind of work you found and where you found it? If you don't mind telling.
- _s 9y ago
  I find digital consultancies / agencies always have spikes of work and they need folks to join in for a couple of weeks or months. Just make connections there - send in your cv, ask about part time positions etc. Agencies usually have one or two recruiters they trust so go and make friends with them too, chances are that recruiter is connected to a few other agencies and so forth. It’s all about networking though, and finding individuals that are reliable.
  - bshimmin 9y ago
    Bear in mind, to address the point about making money "quickly", that if you go direct to a digital agency, they will expect you to do a month's work, and then for you to send them an invoice with 28 day terms, and then they will pay when it pleases them to do so. So that might well be two months between sitting down at a desk and money actually appearing in your bank account - or it might be longer. (Speaking from experience in London.) (If you go through a recruiter, you might be in a better position, because sometimes recruiters want you to invoice weekly and sometimes they pay more or less on receipt of the invoice. And sometimes they don't, of course.)
    - repomies691 9y ago
      Well yeah it is in no way quickly in that sense, you need 1-2 months to actually receive the money. Unless otherwise agreed. It comes down to have the savings, but as well to have low living expenses or otherwise lifestyle in a way where you can downgrade it when needed.
- repomies691 9y ago
  I had been working as a web dev (full stack) for some years, so the freelancing gigs I found were mostly web programming. One gig was for my ex-employer, other one was for other company. Of course you need to have some selling skills as well and know some people who need to do business. During that time app stores were a relatively new thing, so the products I was developing were apps. They started making a decent revenue after 2 years if I remember right. The first year I didn't make about any money. I had very low-cost lifestyle, and cheap rent in a tiny apartment, which helped a lot. If I would have kids or some expensive hobbies it would have been much, much more difficult.
Retric 9y ago
Having 4 months of living expenses should be doable within 3 years of having just about any programming job. Saving 10% gets you there and that's on the low side. X% / (1-X%) * 12 * years or savings / living expenses * time spent savings ignoring interest and taxes.
onli 9y ago
4 month is nothing. I needed 4 month just to get the new version of my already existing project working, that I thought had a chance in the market. If I had had the stress of being without work and home in 4 month that would never have worked. And at that time I hadn't even covered marketing, or having the time for it. I got 2 years covered before starting this path (not all with savings, there is additional income).
- repomies691 9y ago
  Well of course it is better the more savings you have. However for me when I started my entrepreneurial career, I think the fact that I didn't have much money helped to launch the business. I had to pretty quickly to launch some products to make revenue and/or have contracting gigs. That for me was huge discomfort zone, because I was used to the the comfy life of an employee. I have seen situations where people don't have financial pressure, then they end up building product in garage for 2 years, and in the end not launching it and returning to kind of employee role.

worldsayshi 9y ago

I'm curious what kind of work you found and where you found it? If you don't mind telling.

_s 9y ago
I find digital consultancies / agencies always have spikes of work and they need folks to join in for a couple of weeks or months. Just make connections there - send in your cv, ask about part time positions etc. Agencies usually have one or two recruiters they trust so go and make friends with them too, chances are that recruiter is connected to a few other agencies and so forth. It’s all about networking though, and finding individuals that are reliable.
- bshimmin 9y ago
  Bear in mind, to address the point about making money "quickly", that if you go direct to a digital agency, they will expect you to do a month's work, and then for you to send them an invoice with 28 day terms, and then they will pay when it pleases them to do so. So that might well be two months between sitting down at a desk and money actually appearing in your bank account - or it might be longer. (Speaking from experience in London.) (If you go through a recruiter, you might be in a better position, because sometimes recruiters want you to invoice weekly and sometimes they pay more or less on receipt of the invoice. And sometimes they don't, of course.)
  - repomies691 9y ago
    Well yeah it is in no way quickly in that sense, you need 1-2 months to actually receive the money. Unless otherwise agreed. It comes down to have the savings, but as well to have low living expenses or otherwise lifestyle in a way where you can downgrade it when needed.
repomies691 9y ago
I had been working as a web dev (full stack) for some years, so the freelancing gigs I found were mostly web programming. One gig was for my ex-employer, other one was for other company. Of course you need to have some selling skills as well and know some people who need to do business. During that time app stores were a relatively new thing, so the products I was developing were apps. They started making a decent revenue after 2 years if I remember right. The first year I didn't make about any money. I had very low-cost lifestyle, and cheap rent in a tiny apartment, which helped a lot. If I would have kids or some expensive hobbies it would have been much, much more difficult.

Retric 9y ago

Having 4 months of living expenses should be doable within 3 years of having just about any programming job. Saving 10% gets you there and that's on the low side. X% / (1-X%) * 12 * years or savings / living expenses * time spent savings ignoring interest and taxes.

onli 9y ago

4 month is nothing. I needed 4 month just to get the new version of my already existing project working, that I thought had a chance in the market. If I had had the stress of being without work and home in 4 month that would never have worked. And at that time I hadn't even covered marketing, or having the time for it. I got 2 years covered before starting this path (not all with savings, there is additional income).

repomies691 9y ago
Well of course it is better the more savings you have. However for me when I started my entrepreneurial career, I think the fact that I didn't have much money helped to launch the business. I had to pretty quickly to launch some products to make revenue and/or have contracting gigs. That for me was huge discomfort zone, because I was used to the the comfy life of an employee. I have seen situations where people don't have financial pressure, then they end up building product in garage for 2 years, and in the end not launching it and returning to kind of employee role.