4 ms·

- How many months of savings do you have? - How much selling do you have to do to break even? - How long do you have until you get that much selling? That gi

by pnathan 15y ago

- How many months of savings do you have? - How much selling do you have to do to break even? - How long do you have until you get that much selling? That gives you the numbers. Coding is not as easy as some make it sound (nor as hard as other make it sound). If you get the functionality working to a degree where customers are paying for it and sticking around, you probably can find a techie to revamp it. Personally, I am sufficiently risk averse that for most products I've thought of, I'd have to see cash incoming before I quit my job.

jaypreneur 15y ago
Thanks for the questions. I will be asking myself those questions and analyzing the answers. A question they bring up in my mind though would be the opportunity cost of creating it myself vs. outsourcing. If I ultimately plan on finding a tech co-founder to come on board and revamp it, hopefully playing the part of CTO, then it seems wise to compare the costs of getting there via my own work vs. outsourcing, no? DO IT MYSELF Benefits 1. I learn skills that will help when doing simple iterations (before having tech partner on board), assessing future tech partner, and attracting tech partner. 2. I hate my job and would rather learn to code and build my business. Costs 1. The time it takes to learn is time I can't be earning a salary. This could be up to 6 months or more. Let's say this costs me 30k. OUTSOURCING Benefits 1. I keep my salary (even though I hate my job) while MVP is created. This could be positive 30k+. 2. Outsourcing the MVP is likely far faster, let's say 2 months. This also means I can potentially get to customers faster and gain traction (maybe find partner faster as well) Costs: 1. Of course, the outsourcing itself over those 2 months could very well be 250 hours of work. At 50 dollars an hour (reasonable?), that's 12.5k. Let's assume 10-15k range. 2. Unfortunately, I lose out in terms of learning, which helps in terms of iterating (before having tech partner) and finding and evaluating potential tech partner. To me, it looks like outsourcing has the potential to save me in both time (a couple of months, at least) and money (15 - 20k). I guess I need to assess if learning to code myself extensively if worth that cost if I don't plan on really becoming incredibly proficient (as I recognize it takes years). Any opinions on that analysis of the situation? edit* I just wanted to mention I don't claim that my above analysis is accurate. It could very well take an entire year to develop a useable MVP myself, which would be 60k in opportunity cost. Additionally, the outsourcing estimate of 15k and 2 months could be 30k and 4 months, or more. I am not expert on the implementation and realize that. Please consider that and take the idea behind the analysis into consideration rather than the numbers themselves.
- fate_carver 15y ago
  How old are you? Outsourcing? To where? Part of the problem is a "Tech Co-Founder" is already making $300k+ a year. If you want someone to throw a few hours your way, you need to sweeten the pot and step up the talk a bit. Some "Tech co-founders" would actually have to use their time spent on your idea as a write-off. jay, I'm not trying to smackdown on you but what do you have to offer your tech co-founder? Even if you learn to code, what can you offer? Will you need a Marketing VP too? Or legal advice? Or accounting help?
  - jaypreneur 15y ago
    I'm 24. In regards to "where" for outsourcing. That is something I have not looked into in detail, but potentially anywhere as long I received quality code. But anyway, to your other question directed at me (and no need to think your trying to smackdown because I agree entirely with your sentiment), what do you offer... The things I offer: 1. Vision - I know, to some this (like an idea) means very little 2. Design - I am competent with UI/UX, as well as designing using photoshop and illustrator. 3. Sales/Marketing - I can sell. I'm a good orator and I'm passionate and persuasive (or so I've been told and experienced). In regards to marketing, I've read and learned plenty about it and am always learning more, although I won't claim to be an expert. 4. Accounting/Business - I'm an accountant (well, auditor with CPA) so I do bring that to the table as well. Ultimately, along with accounting, I have a good deal of knowledge on finance and general business issues as well. Now, perhaps I'm naive to think the above is enough to offer a potential future tech co-founder. However, it's what I've got and, above all, I am incredibly passionate and hardworking. I know that would matter a lot to me in choosing someone to work with (perhaps more so than raw talent/skills), so I can only hope the same can be said the other way around. Anyway, you also bring up a good point about the problem about the "tech co-founder" in that they have far more opportunity (a good one anyway) than I might offer, so why me? It's the reason I have made this post and offer up the decision to code things myself or outsource. I know where I have a weakness, even if I learn to code, I still won't be as proficient as I need to be. So, I will need someone. I guess my hope is that by actually creating something and having customers, that traction (along with the list of things I believe I have to offer) will entice a "tech co-founder" to come join up with me.

by pnathan 15y ago

jaypreneur 15y ago

Thanks for the questions. I will be asking myself those questions and analyzing the answers. A question they bring up in my mind though would be the opportunity cost of creating it myself vs. outsourcing. If I ultimately plan on finding a tech co-founder to come on board and revamp it, hopefully playing the part of CTO, then it seems wise to compare the costs of getting there via my own work vs. outsourcing, no? DO IT MYSELF Benefits 1. I learn skills that will help when doing simple iterations (before having tech partner on board), assessing future tech partner, and attracting tech partner. 2. I hate my job and would rather learn to code and build my business. Costs 1. The time it takes to learn is time I can't be earning a salary. This could be up to 6 months or more. Let's say this costs me 30k. OUTSOURCING Benefits 1. I keep my salary (even though I hate my job) while MVP is created. This could be positive 30k+. 2. Outsourcing the MVP is likely far faster, let's say 2 months. This also means I can potentially get to customers faster and gain traction (maybe find partner faster as well) Costs: 1. Of course, the outsourcing itself over those 2 months could very well be 250 hours of work. At 50 dollars an hour (reasonable?), that's 12.5k. Let's assume 10-15k range. 2. Unfortunately, I lose out in terms of learning, which helps in terms of iterating (before having tech partner) and finding and evaluating potential tech partner. To me, it looks like outsourcing has the potential to save me in both time (a couple of months, at least) and money (15 - 20k). I guess I need to assess if learning to code myself extensively if worth that cost if I don't plan on really becoming incredibly proficient (as I recognize it takes years). Any opinions on that analysis of the situation? edit* I just wanted to mention I don't claim that my above analysis is accurate. It could very well take an entire year to develop a useable MVP myself, which would be 60k in opportunity cost. Additionally, the outsourcing estimate of 15k and 2 months could be 30k and 4 months, or more. I am not expert on the implementation and realize that. Please consider that and take the idea behind the analysis into consideration rather than the numbers themselves.

fate_carver 15y ago
How old are you? Outsourcing? To where? Part of the problem is a "Tech Co-Founder" is already making $300k+ a year. If you want someone to throw a few hours your way, you need to sweeten the pot and step up the talk a bit. Some "Tech co-founders" would actually have to use their time spent on your idea as a write-off. jay, I'm not trying to smackdown on you but what do you have to offer your tech co-founder? Even if you learn to code, what can you offer? Will you need a Marketing VP too? Or legal advice? Or accounting help?
- jaypreneur 15y ago
  I'm 24. In regards to "where" for outsourcing. That is something I have not looked into in detail, but potentially anywhere as long I received quality code. But anyway, to your other question directed at me (and no need to think your trying to smackdown because I agree entirely with your sentiment), what do you offer... The things I offer: 1. Vision - I know, to some this (like an idea) means very little 2. Design - I am competent with UI/UX, as well as designing using photoshop and illustrator. 3. Sales/Marketing - I can sell. I'm a good orator and I'm passionate and persuasive (or so I've been told and experienced). In regards to marketing, I've read and learned plenty about it and am always learning more, although I won't claim to be an expert. 4. Accounting/Business - I'm an accountant (well, auditor with CPA) so I do bring that to the table as well. Ultimately, along with accounting, I have a good deal of knowledge on finance and general business issues as well. Now, perhaps I'm naive to think the above is enough to offer a potential future tech co-founder. However, it's what I've got and, above all, I am incredibly passionate and hardworking. I know that would matter a lot to me in choosing someone to work with (perhaps more so than raw talent/skills), so I can only hope the same can be said the other way around. Anyway, you also bring up a good point about the problem about the "tech co-founder" in that they have far more opportunity (a good one anyway) than I might offer, so why me? It's the reason I have made this post and offer up the decision to code things myself or outsource. I know where I have a weakness, even if I learn to code, I still won't be as proficient as I need to be. So, I will need someone. I guess my hope is that by actually creating something and having customers, that traction (along with the list of things I believe I have to offer) will entice a "tech co-founder" to come join up with me.