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I should also point out that this is a common misconception for hardware/solution companies. Very hard to make enough money to fund R&D with consulting. I did
by hpcjoe 6y ago
I should also point out that this is a common misconception for hardware/solution companies. Very hard to make enough money to fund R&D with consulting. I did that for the first 4 years of the company.
Put bluntly, that model, the consulting bit, is not for the faint of heart. It is just as hard, as in you absolutely have to hustle hard this whole time, to get business. Leaving you with precious little time to develop your ideas.
I've lived it. I don't recommend it, without a partner with a strong income. My wife was a stay-at-home mom for part of this time, and worked at a school as a teacher. Not sufficient income to live off of for 1 person in a house with a mortgage. Nevermind a family.
- Alex3917 6y agoRight, it doesn't really work if you need to spend a lot of time selling consulting. It works better if you write a bestselling book at some point so that you're recognized as the #1 person in your field, and then you just have a waitlist of clients willing to pay $250 an hour or whatever. That way you can just consult a few months a year and still support a family, and then spend the rest of the year working full time on your startup.
- pragmatic 6y agoAre you serious? You keep upping the ante. Just consult, just write a best selling book, then consult. I'm assuming you're joking.