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Corporate fool here. I take issue with the use of "derogatory". I would be ecstatic if I could bootstrap a startup into providing myself with $100k+ per year,

Corporate fool here. I take issue with the use of "derogatory". I would be ecstatic if I could bootstrap a startup into providing myself with $100k+ per year, with no potential for substantial growth from there. My impression was that the term also strongly implied that the business owner had the freedom of spending their time how they liked. I have a friend who lives relatively comfortably and does freelance development. If he wants to work 16 hours one day on a cool project and take a long weekend for some biking or hiking, he can. He isn't going to be a rich, rich man in terms of money anytime soon, but he is not wanting of much, either. He is happy, satisfied, locally respected, relatively stress free and content. That sounds like a lifestyle I would enjoy.

nadam 16y ago
"I would be ecstatic if I could bootstrap a startup into providing myself with $100k+ per year" Me too, except that I would prefer that 100k to be (relatively) passive income. With passive invcome it is easier to be creative, innovate an existing product without too much time pressure, learn etc... Freelancing does not differ from corporate work that much (except if you earn so much money that you have to work less.)
- TimJYoung 16y ago
  Very good point about the passive income.
- il 16y ago
  One of the things I've learned through years of bootstrapping is that there's no such thing as truly passive income(other than investments). There's always something demanding your attention.
  - thekevan 16y ago
    I imagine that is true but I am striving for something less "active". I work 45 hours a week for an upper middle class income. But including the commute, the inflexibility of 9-5 and being just plain drained from working in an uninspiring environment, it feels like 60 hours a week. I'd be ecstatic with a 30 hour a week business of my own at the same income level. (Of course maybe I'd start a second business with that extra 30 hours...)
    - bradya 16y ago
      My feelings are almost exactly the same. I work 60+ hours a week and make an upper middle class income. I'm trying my hardest to change that because I'd like to have time to enjoy life while I'm young (I'm 23).
      - georgieporgie 16y ago
        Here's an alternative: save as much money as you can. This buys you tremendous flexibility when you're in your 30's (compounding interest plus a healthy savings buffer).
  - wyclif 16y ago
    That true, but it's worth noting that "passive" when used in this sense is a reference to income, not to work. Passive income to me means a business earns profits when the owners are sleeping. I've never taken it to mean a business where due diligence is not required, or does not require hard work.
wladimir 16y ago
So, why are you not going for it? It doesn't sound like such a long shot to achieve that (yes, and I know, even with that it's still a big jump from a comfy corporate job).
- thekevan 16y ago
  Oh, I definitely am! I have a nice long "Seinfeld streak" going of days I have been teaching myself coding and dev. I started the wireframe for one of my ideas/projects this afternoon during lunch. I have gotten myself some good contacts in the local start-up scene and was just this week was asked to do some (part time, off hours) work for a very promising one. I knew the "release early" mantra, but I am still getting momentum and knowledge behind me. It's starting for me, I am excited.

nadam 16y ago

"I would be ecstatic if I could bootstrap a startup into providing myself with $100k+ per year" Me too, except that I would prefer that 100k to be (relatively) passive income. With passive invcome it is easier to be creative, innovate an existing product without too much time pressure, learn etc... Freelancing does not differ from corporate work that much (except if you earn so much money that you have to work less.)

TimJYoung 16y ago
Very good point about the passive income.
il 16y ago
One of the things I've learned through years of bootstrapping is that there's no such thing as truly passive income(other than investments). There's always something demanding your attention.
- thekevan 16y ago
  I imagine that is true but I am striving for something less "active". I work 45 hours a week for an upper middle class income. But including the commute, the inflexibility of 9-5 and being just plain drained from working in an uninspiring environment, it feels like 60 hours a week. I'd be ecstatic with a 30 hour a week business of my own at the same income level. (Of course maybe I'd start a second business with that extra 30 hours...)
  - bradya 16y ago
    My feelings are almost exactly the same. I work 60+ hours a week and make an upper middle class income. I'm trying my hardest to change that because I'd like to have time to enjoy life while I'm young (I'm 23).
    - georgieporgie 16y ago
      Here's an alternative: save as much money as you can. This buys you tremendous flexibility when you're in your 30's (compounding interest plus a healthy savings buffer).
- wyclif 16y ago
  That true, but it's worth noting that "passive" when used in this sense is a reference to income, not to work. Passive income to me means a business earns profits when the owners are sleeping. I've never taken it to mean a business where due diligence is not required, or does not require hard work.

wladimir 16y ago

So, why are you not going for it? It doesn't sound like such a long shot to achieve that (yes, and I know, even with that it's still a big jump from a comfy corporate job).

thekevan 16y ago
Oh, I definitely am! I have a nice long "Seinfeld streak" going of days I have been teaching myself coding and dev. I started the wireframe for one of my ideas/projects this afternoon during lunch. I have gotten myself some good contacts in the local start-up scene and was just this week was asked to do some (part time, off hours) work for a very promising one. I knew the "release early" mantra, but I am still getting momentum and knowledge behind me. It's starting for me, I am excited.