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I think more than just money, you have to account for your "mistakes runway". You WILL make mistakes - a lot of them if its your first business. When you are
by puranjay 8y ago
I think more than just money, you have to account for your "mistakes runway".
You WILL make mistakes - a lot of them if its your first business.
When you are 25, you just have a lot longer runway to make those mistakes.
At 35 with a wife and kid, you have limited time to make mistakes and learn from them
- dahart 8y agoAbsolutely true. I heard that before starting and (of course) didn’t understand what it meant. And we were optimistic, so we discounted it, assuming we were starter than the average Joe, so we wouldn’t make as many mistakes. Nope, we made mistakes that could be counted in units of years and hundreds of thousands of dollars. And broadly speaking, yeah, nearly everyone does when building companies. The thing that never occurred to me that you put nicely is that you have a finite mistake budget, and you don’t know what it is.