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I agree with this as well. But, let's take the fishmonger for example: He didn't quit his fishmonger job, and try to live off the interest from the money did he
by MalcolmDiggs 12y ago
I agree with this as well. But, let's take the fishmonger for example: He didn't quit his fishmonger job, and try to live off the interest from the money did he?
I believe you can absolutely start a company for cheap (you can definitely work a low-wage job and afford a startup). But that is very different from trying to live off your savings and start a company at the same time. Sure, you might get lucky and have instant-revenue that can support you, but I think you (and the business) will have a better chance of success if you're not trying to live off the profits (and can reinvest them in the company).
- MichaelCrawford 12y agoGood Point. I read recently that lots of startups are funded by government benefits - food stamps and the like. Oddly, in some places it is unlawful to receive such benefits if one is the director of any company. I would think that would be encouraged, actually.
- MichaelCrawford 12y agoI understand that one-half of United States businesses fail within the first five years. I expect far more than that fail, if they are high-tech startups. Consider that I read just a few days ago, that - overall - venture capital earns 5% less than the S&P 500. However, some VCs make out like bandits, it's just that there are lots of clueless VCs. So if you start any kind of business, you really don't want to quit your day job, until that business is profitable, or if you do quit your day job, you want to have lots of cash in the bank.