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by throwawasiudy
3432 days ago
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> I don't want to raise money and I only have a few $k BE VERY AFRAID. I did this thinking I could get something off the ground fast enough to generate minimum income to live. It's possible ONLY if your level of support is "I live at mom & dads house". I had enough social support to undo my mistake but it took close to 4 months to find another comparable job. It took another 2 months to pay back my friends for their generosity. 6 mos down the drain living on shitty couches and damaging friendships when I could have been saving money to make a less halfhearted attempt. I will do it again, but a more realistic amount of money to start a business is 20-30k if you're on your own. This initial cash is your runway of sorts. If you have a few co-founders you could probably swing 40k all together. And 30k is enough of your own skin in the game to get an investor to double or triple that. 50-100k is enough to start a real bootstrapped business. Also be wary of working on your new project while working for your current employer. Most have non-compete and ip-assignment clauses in the contract. If you're running a dog walking business it isn't worth their time, but if you ever build a business to the multi-million level they will swoop in and take everything you have. |
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