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I'm wrestling with this same question myself. I have never had any idea. For me I've started businesses when the external pressure of having a co-founder dictat

I'm wrestling with this same question myself. I have never had any idea. For me I've started businesses when the external pressure of having a co-founder dictated that I should. Or, I'd be in a fit of passion-inspired development for a few weeks until it was time to talk to customers. I think the answer varies from person to person. It's hard to say what a good heuristic would be. We all operate with different heuristics. For instance I now have a family, and starting a business would either take me away from family time, involve nights and weekends work, or involve quitting my day job (of which the bar is now very high). If you find the answer, let me know!

funarchist 3y ago
I actually created a set of heuristics that would increase the likelihood of success for the company. However, I am occasionally frustrated by the amount of time it takes to prepare for these conditions before actually founding the company. Maybe it helps. 1. Maximize the effect of geographic arbitrage. Regarding the macroeconomic, political, and social situations of countries regarding their GDP, GDP per capita, and the number of millionaires and billionaires gives a good idea. There are also chances that highly skilled people are also there. Solution: Immigrate to the country and best city in this manner. 2. Maximize legal flexibility. - Having citizenship in a country is hugely advantageous in terms of safety net, a good passport for global travel, and making business with specific industries. 3. Have a skill set and job that make you the top 5–10 percent of earners. Wait to see where salary increases change marginally. When you start working, climbing to a high-paying job and being in the top 5–10 percent of earners in a population is significantly easier and safer than building a business. However, after some years of year-to-year increases, the salary doesn't move you in lower percentages significantly. 4. Acquisition of enough information regarding operating business. - Having knowledge regarding the meta-information of business like legal, accounting, HR, marketing, logistics, manufacturing, etc. 5. Global Industry Wave Riding a historical wave of technologically induced progress can increase the potential maximum of the point significantly. 6. While having the job first, MVP builds, ships, and sales have been done. 7. Having 200–250k of money to burn. With three founders each putting similar money this is enough money to build a team of 3–4 people and keep the company alive for 12–15 months. But as I said, these things in my own abilities take years and years, and it is really frustrating. However, I know it is logical or a good plan. I would love any feedback anyone have.

funarchist 3y ago

I actually created a set of heuristics that would increase the likelihood of success for the company. However, I am occasionally frustrated by the amount of time it takes to prepare for these conditions before actually founding the company. Maybe it helps. 1. Maximize the effect of geographic arbitrage. Regarding the macroeconomic, political, and social situations of countries regarding their GDP, GDP per capita, and the number of millionaires and billionaires gives a good idea. There are also chances that highly skilled people are also there. Solution: Immigrate to the country and best city in this manner. 2. Maximize legal flexibility. - Having citizenship in a country is hugely advantageous in terms of safety net, a good passport for global travel, and making business with specific industries. 3. Have a skill set and job that make you the top 5–10 percent of earners. Wait to see where salary increases change marginally. When you start working, climbing to a high-paying job and being in the top 5–10 percent of earners in a population is significantly easier and safer than building a business. However, after some years of year-to-year increases, the salary doesn't move you in lower percentages significantly. 4. Acquisition of enough information regarding operating business. - Having knowledge regarding the meta-information of business like legal, accounting, HR, marketing, logistics, manufacturing, etc. 5. Global Industry Wave Riding a historical wave of technologically induced progress can increase the potential maximum of the point significantly. 6. While having the job first, MVP builds, ships, and sales have been done. 7. Having 200–250k of money to burn. With three founders each putting similar money this is enough money to build a team of 3–4 people and keep the company alive for 12–15 months. But as I said, these things in my own abilities take years and years, and it is really frustrating. However, I know it is logical or a good plan. I would love any feedback anyone have.