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Having a bit of a runway is good, and real-world job experience can pay dividends. Some suggest that you'd get the same out of a failed startup, but both route
by wheels 18y ago
Having a bit of a runway is good, and real-world job experience can pay dividends. Some suggest that you'd get the same out of a failed startup, but both routes have their advantages.
One thing I learned, sadly later than I wish I had -- before starting a startup practice living cheap. Start really considering if you really need that iPhone or that new monitor, buy nothing but generic stuff, have one beer at the bar instead of three, get a house-mate. Cook!
As I was building towards going full-time on the startup I managed to get my cost of living down to less than half of what it was, with no major lifestyle changes. That'll give you a nice pad and the skills to stretch it when you do go full-time.
You can also spend the time learning; nothing teaches like experience, but you can spend time building up your contacts, researching your field, learning as much as possible about startups, setting up infrastructure, searching out good co-founders -- so that when you're ready to run you can go at it full speed.
- babul 18y agoLiving cheap also has benefit in that it often forces you to assess what you need and want in life and ultimately what is really important to you. There is a certain pleasure to be had to free oneself of the materialistic lifestyle we are often indoctrinated into following through nurture, especially in many western countries/cultures (e.g. process of society and education often teaches get a job, buy a house, get a car, get better job, bigger house, newer car etc. much of which is not really necessary). When you earn enough not to worry about food and bills, you can really begin to do the things you want and learning to live cheap certainly helps. The freedom is liberating and truly the best things in life are free (or often surprisingly cheap).