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$20k is on the low side for what you're trying to do - good chance it will run out as you're just getting started. On average both of these options work out to
by jstx1 5y ago
$20k is on the low side for what you're trying to do - good chance it will run out as you're just getting started. On average both of these options work out to basically burning $20k, maybe learning stuff along the way, maybe not. Which could be fine depending on your financial situation and risk tolerance.
But don't do either if that's your only $20k. Certainly don't go into it with the expectations that you'll get a reliable return on the investment.
Since you're asking about other options - you can always invest in stocks and other assets but it's hard to give advice about it without knowing your financial situation and goals.
- mddanishyusuf 5y agoThanks for your great thoughts and I really appreciate it. I’m more of thinking about hiring team to convert my ideas into mvps and launch.
- mihailpalelogu 5y agoI agree with jstx1. On your budget I would recommend finding other avenues for building MVPS depending on the nature of your projects. Is it a concept that you can test with a simple landing page to see if anyone is clicking on your call-to-action? Is it something you can pre-order and build within a few weeks with revenue from pre-orders? Does your product intend to do something that you can do manually at first? When I think that Airbnb's MVP was a page with a phone number and a catalog I don't see any justification for spending more than 100$ on any MVP.