4 ms·
I got to pt4 with my solo startup/project `The first step is inevitably to raise money from dumb/ignorant investors who couldn't care less about your startup:
by HugoDaniel 8y ago
I got to pt4 with my solo startup/project
`The first step is inevitably to raise money from dumb/ignorant investors who couldn't care less about your startup: that would be the government / unemployment benefits in France / tax-incentivized angel investors in the UK.
It buys you 12-18 months of runway.`
After it I realised it has no market and no interest from anyone.
Now I am in a mixed bag of thinking that I did well in stopping it at an early stage and dealing with the feelings of having failed/wasted a lot by pouring 2 years in it.
Such is life :/
- lifeisstillgood 8y agoWho are these tax incentivised angels in the UK??
- charlesdm 8y agoBasically anyone with high income, making more than (a few) £100k per year. I have a friend who has done a couple of SEIS investment deals that turned out ok-ish (only breakeven, but profitable considering the tax rebate mechanism).
- beejiu 8y agoThe UK has two tax-efficient schemes for investing in startups: SEIS and EIS. For some perspective, if an 'additional rate taxpayer' invested £10,000 into your startup, they are only actually risking £2,750 due to tax relief (source: https://www.crowdcube.com/pg/seis-tax-relief-42 https://www.crowdcube.com/pg/seis-tax-relief-42). They get additional relief on capital gains tax.
- i_am_nomad 8y agoTo live life to the fullest means striving, not “succeeding.” Those years were anything but wasted.