3 ms·
Just some food for thought questions. It seems like you're well-placed to thrive if/when an economic recovery occurs, if you can hang on that long, so you shou
by logicalmonster 3y ago
Just some food for thought questions. It seems like you're well-placed to thrive if/when an economic recovery occurs, if you can hang on that long, so you should consider doing what you can to increase your runway.
1) Do you have a significant other who is onboard with your plans and who is capable of helping fund your living expenses while you push this over the finish line? A teammate with some income would be a big value here.
2) If you own your home, are you in position to downsize and sacrifice that to ensure that the business succeeds?
3) Do you have the capability to take on a lower-paying and less stressful tech job that requires a smaller time commitment to help fund your dream? If you were a great FAANG developer, you can probably find some lower-paid, but easy tech job for that you can bang out in ~20 hours per week and spend the rest of your time on your own business. How big is your weekly financial deficit? Would a lower paid job fill that gap?
4) Do you have the capacity to shed expenses? If you have employees, that might sadly mean some layoffs.
5) Can you quickly raise some money by throwing some trendy "AI" labels on your website and trying to capitalize on the trends?
6) Have you considered raising prices? If your customers do love your service, there's a chance that they'll accept a price increase rather than seeing you go out of business.
7) Maybe a dumb question, but why are you seemingly focused on a big exit rather than building a sustainable business?