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My advice would be: don't. You can spend your time building a great product while being in employment. You don't need all the features and all the bells whistl
by harel 7y ago
My advice would be: don't.
You can spend your time building a great product while being in employment. You don't need all the features and all the bells whistling at launch. You need to do what you do, the best you can do it. Once you get the product out, learn how to market it or pay someone to do it. Get some traction, get users. Learn your users, learn from your users. Improve your product.
If your product is great, you will have users and they will pay you money.
One morning you'll wake up to a reality where your day job is no longer necessary. Then quit, and work full time in your OWN company, answering to no one but yourselves.
OR,
You can spend your time chasing angels, VCs, people with money in NY or people with money in SF, pay lots of cash to lawyers to get you Visas, travel, shmooze, present, become a master of Powerpoint and Excel, a lord of small talk, a craftsman of due diligence interviews. Everything except building a great product. And yes, you might get some money, but you'll wake up one morning realising your "business" is not really yours and you you are just working for a different boss now.
- tmpz22 7y ago> A craftsman of due diligence interviews We're talking about Silicon Valley right?
- harel 7y agoI was actually talking about investments in general. All the ones I was involved with had due diligence done on them, and I was "interviewed" by people hired by the investors to make sure the tech is solid.
- Enginerrrd 7y agoI was going to say the same but from another angle: When you no longer need investors, they'll be climbing all over themselves to throw money at you. The same is true of getting loans. Now at the surface this is sort of absurd. The trick is to balance your approach between the extremes. Plan to make a business that works, not one that appeals to investors so you can cash out quick. If the latter happens, that may be ok, but I believe it's really important to build something you believe in that is grounded in reality.