4 ms·
This happened to me a couple of times before I had a solid business infrastructure. After you have an office, employees, etc., your life partner becomes more un
by jordhy 15y ago
This happened to me a couple of times before I had a solid business infrastructure. After you have an office, employees, etc., your life partner becomes more understanding. I think they need validation on your seriousness, the vision of your business and your track record.
However, if you lose large amounts of money (unexpected severance payments, macro-economy, loss of contracts, etc) then things can get really complicated. Sometimes even your relatives expect to benefit from the business - if you shoot for and get high profile press you should expect this.
Don't despair. At the end, you'll end up with a stronger social network: the people that really matter are going to stick. To ensure they do, be open, communicate and involve them in the process (this is key).
Alternatively, to avoid bumpy financial roads, just diversify your investments:
- Put a fraction the money of an exit or the final payment of a major contract in the bank and never touch it
- Invest in real estate so you have a stable income source no matter what
- Assume (like Bill Gates famously did many times) that no client is going to pay for your software and plan for the worst case scenario
- Never go all-in. In anything!
- Get a part time job/ a speak at conferences/ etc
- And, finally, engage with someone who is very stable or also an entrepreneur (which incidentally works like a charm)
Hope this helps.