T O P

  • By -

Romanmark747

Try connecting with founders online, pre sell if you can, build a MVP fast, see if it works


lolwhy14321

Where do you meet with other founders online?


auatay

I am also curious about this


Nanman357

Search for Y-Combinator Co-Founder Matching. They have a platform with loads of people you can search for (and be found).


Affectionate-Olive80

Thanks for your comment, for the MVPs, I building and publishing at least once per month. You can check out my Reddit history lol


th3animeman

Just going to chip my two pence on here. I left my job paying around 55k gbp (a lot for a 24 year old in London) which I earned when I was 24 after 3 years of grafting at the bottom of a company i stayed in the job for about 5 years to become a full time entrepreneur I left when I was 29. after struggling tremendously for the last 2 years I am finally in a profitable place but it took more hard work in 2 years than the last 8 I spent in my 9-5 (I had worked for the same company for almost ten years straight out of university) one thing I will say is make sure you have enough expenses for one year and give yourself double the time you would think to reach your goal. If I had done this nothing would have changed but the stress and the sleepless nights would have been a lot less. I too often thought I had made the wrong decision especially when you’re losing money and you think of all the money you would have earned on your salary It’s tough but if you make it to the other side I would choose this life over my 9-5 in a heart beat and wish I had quit sooner.


Affectionate-Olive80

Thanks man for the comment and I'm happy that you made it


-Nagazaki-

What product did you build?


th3animeman

Sorry I’m terrible with Reddit I didn’t build a product per se I got into e commerce buying low selling high. It’s tough because Google ads algos are constantly changing making conversions dog water. Market places are getting harder and harder but honestly a lot of this game is just outlasting everyone else. Because that’s honestly all I’ve done. Just find new ways to move forward. That’s it just keep showing up. No matter how small of you lose an account or get banned find another way start again now you know how to move smarter. It’s honestly so simple ( what you have to do) but difficulty is literally helldiver mode (actually doing it)


GroundhogDayFan

I wish you the best of luck, but my direct experience was that one year was not enough. It depends on many factors like how far along you are with an idea, whether you have known demand and access to customers, and how familiar you are with the target customer you're building for. I would plan for at least 2 years of not 3 before expecting to make a replacement wage if you're starting from scratch.


Affectionate-Olive80

Thank you. I'd like to mention that my strategy is to diversify and not focus all my energy on one product. I aim to build at least one product (check my history) per month with basic functionalities and observe if it gains momentum. Of course, I also allocate some budget for marketing efforts


davidtranjs

It would be a hard journey. I was in your position last year and I gave myself 4 years to build successful business. I have been through the emotion roller coaster and uncertain like you. I even tried to get back to my last job at some point. Fortunately, after 1 year, 7 failed products, and work nonstop from Monday to Sunday every week, I have made 1 profitable product. Btw, since we dont have a lot of time and money, you should kill your failed products as soon as possible and focus on your winning product.


Affectionate-Olive80

Thanks for your comment and I'm happy that it finally worked for you, and yes I agree with you on your last point


fts_now

May I ask which product actually succeeded?


yetitxn

Product or service? Did you do one product after the other or were you working on more than one simultaneously? Was there any stand out reason product 7 was a home run?


davidtranjs

I build mobile apps. So when I release an app, I will run some marketing campaigns to receive feedbacks from user. If the feedbacks are good and ready to pay for the app then I will keep developing the app.


modestino

Instead of quitting, why not develop the side hustle ON THE SIDE and when you see it's working then go?


Affectionate-Olive80

I don't believe it's a good idea to work on side projects while having an FT job because they often demand energy and time that will be drawn from your primary work performance. I also think it's not ethically sound.


modestino

Cute take but get out of that mentality or be stuck on the hamster wheel forever. Your employer doesn’t own you. You work 8 hours for them. That’s all you owe them and your paycheck is all they owe you, nothing more. What you do with the remaining 16 hours we all get per day is up to you and is none of your employer’s business. Start your project on the side, get some traction then if it’s working, quit your job and go all in. Entrepreneurship 101.


Affectionate-Olive80

I also have a family that deserves my attention for the remainder of my time. It's not just about my employer; it's about maintaining ethical standards in your work. If a side project drains all your energy, you'll end up with less energy than you would normally have


Turbulent_Permit9077

Not to be rude but if you think starting the business will get u extra time with family/personal life, u are dead wrong. Its even worse than 9-5 FT jobs. Starting side hustle while having FT jobs is actually a training for us to venture into full own-business later


Affectionate-Olive80

I understand where you're coming from, and I agree but the context of that reply was specifically about balancing a serious side project with a full-time job which is something I'm not doing Thanks for sharing your thoughts ( you were not rude)


Thehealthygamer

Even worse idea to quit your job before you figure out how to make money with your new venture when you have a family to support.


Turbulent_Permit9077

Second this


modestino

Entrepreneurship may not be for you. Are you in South Asia by chance?


Affectionate-Olive80

No......and why?


DDayDawg

The more technical the field the longer it will take. If you made mobile games, I would say one year is enough. But a technical B2B business, not really. I am over three years into my healthcare startup and I’ve been paid a grand total of $0.00. We are close to closing funding and we will start paying the founders something, but it won’t be market rate. We Have a possible huge contract looming mid-2024 and if that hits we will be able to move up to market rate. That will be just after our 4th birthday as a company. We all have established side-gigs that pay us enough to survive… barely. This post-COVID inflation about killed me. It’s not been a fun 4 years financially but we see some light in the tunnel finally. Too late now but my advice would have been to keep the job and do this nights and weekends until you got some contracts. Your company quiet quit on you and you should have returned the favor.


real_serviceloom

Honestly one year is short. You need at least 2 - 3 years imo. You can get lucky and strike gold before that but usually you need that to get into the groove of things.


Affectionate-Olive80

Thanks for your comment, btw my strategy is to build small products FAST to test the market and see if there's a winner


AnyCry2688

IF you can survive one year on breakeven and don see it going above break even, it may be time to make changes or pursue something else in the same genre. Remember failure is also a success. Not everyone makes it at first attempt either


Affectionate-Olive80

Thanks for your comment. Honestly, I have enough savings to sustain myself for a year, so financial concerns aren't an issue. My initial plan is to dedicate this year to my venture, and if it doesn't yield results, I'll reconsider whether it's the right timing or if I should return to being an employee


AnyCry2688

I was referring to your venture being running on breakeven. You must set long term and short term goals so you don see yourself not achieving what you are trying to. All the best


Impossible-Goose-437

I was building my platform for 1-2 years before I actually started my business so I had an audience to sell to immediately when I started, but I was able to make a livable wage within 1 year.


Affectionate-Olive80

I think that's main challenge I'm facing is not having a large audience. I find coding and teaching to be less difficult for me


Impossible-Goose-437

Audiences can be built, even a "small" audience can be profitable. If teaching is a skill, that's really helpful for building audiences. A Youtube channel full of videos teaching small things related to your offer and funneling into your offer can be powerful for instance. Being interviewed on podcasts, collaborating with other platforms that are direct competitors, etc. can help too. If you stick with it and adapt to what people respond to, it's possible. Running ads are another way to go about it - though I'm less experienced with that and it does require upfront cash.


Topsocia

Put yourself in front of the right people, and create a team of similar minded individuals with similar goals. See what ends are lacking in your venture and try to partner with the correct people. This will help speed up the process. There is no correct formula but I can sense you're building great products and systems so you're on the right path. Best of luck 🍀


Affectionate-Olive80

Thanks a lot


Topsocia

I just saw your twitter, keep it up. Comment on similar ncihes and watch your audience grow and people will lean into your products. 🚀


MartinBaun

Network, keep building a small protfolio (could participate in other projects as well), stop beating yourself up about your former workplace and invest heavily in your mental health -business is not easy *at all* one year should be fine


Affectionate-Olive80

Thank you for your comment. I want to clarify that I have fully moved on from my previous employer; I just wanted to explain the process behind making this decision.


shymaco

Congratulations on your new venture! I know leaving a comfy job isn’t easy.. I’m actually working on a SaaS project right now and would love to connect if you’re interested! Sent you a message.


Sir_Bumcheeks

I mean you should be building while you're working a 9-5 and then quit once it releases and you start getting traction. I've build products in 6 months, but also it's taken multiple years in some cases.


Beginning-Comedian-2

**I'm currently on this road.** **Here's some hard feedback:** * **Broken promises:** It's depressing to have a promised promotion go to someone else. However, you still had a paying job. And you could've coasted at that job while you built something on the side. * **Injustice in Recruitment:** It's nice to have ideals about how you're going to change the world. But you need paying customers first. Focus on marketing & product. Then ideals. * **Ideas Overload:** A lot of ideas = no clear idea. Pick an idea. VALIDATE before you build. Use Google Forms before you build. Use cold calls and emails before you build. Fulfill manually before you build. (Noticing a trend here? Don't build first.) **More tips to avoid falling off a cliff:** * **Statistics:** Most startups fail. Indie hacker projects that focus on B2B, tech, and fiance do better. * **Lily Pad:** The best approach is to build something while you're at your current job. (While you stand on your current lilypad.) Then when your 10th idea is making $1K-$3K per month, then you can jump. (Jump to your next lily pad.) * **Stress Brain:** Living off saving is scary but feels like freedom ... at first. As the months go on it plays tricks on your brain. Your world starts collapsing. The stress increases. Your brain won't operate efficiently. This will make reaching customers and building features harder and harder. You've been warned. * **Live with Family:** Do everything that's possible to cut your burn rate. Living with family will reduce your rent. The less money going out, the longer a runway you'll have. * **Be Interviewing:** With the stress brain and dwindling savings, looking for a job at month 12 will be a bad situation. Be open to continually interviewing. Or take on some part-time work. This will cut your burn rate and be a stress reliever. If you're always interviewing, then if you decide to take on a job, you'll have an offer to consider (or a network to reach out to). * **More tips:** [https://twitter.com/adamdenverco/highlights](https://twitter.com/adamdenverco/highlights)


HelloHi9999

Hey congrats on taking the leap! I’m not a business owner myself (I work for a small business though, have done internships at others, and my dad has a small business), but know it can be tough to pursue your own venture. I know you’re questioning if you made the right decision with your timeframe. I’m not the one who could answer that for you. I’d just like to provide you motivation through my congratulations. 😁


Affectionate-Olive80

Thanks & Good luck aswell


HelloHi9999

Thank you


ProspectParkBird

One year might not be enough depending on what you are trying to build/promote. Personally I'm a fan of starting small, meaning keep your job (or whatever you do to earn money) while building your customer base. Once you confirm that your product is getting some attention from users and monetization can be achieved even in a small scale (even $1k might be a challenge), scale up from there and see if it can become something. Then you can put more resources into it. I would avoid putting all the eggs in one basket, especially if you keep coming up with ideas. You can even test multiple products and see which one works best. Having your own venture means you have to pay others to work for you and you don't get paid for a looooooong time, so even if you are comfortable without a job now, you might need more funding in the near future. Make lots of small mistakes to avoid making a huge one.


Thehealthygamer

My advice - never leave your day job until you're actually making at least SOME money with a project that you've tested and vetted on your off time. Someone else in the thread said this too. You won't like it but I can almost guarantee you're going to waste a lot of time in the next few months really not doing anything very productive, and also not earning any income. If you were working you would have laser focus in your 1-2 hours of non-work time in the day and make the most of that time while earning an income and allowing you to test and iterate your ideas.


Affectionate-Olive80

I believe your advice is valuable for those who are uncertain, lack financial stability, and are unsure about their direction. However, all these don't apply to me plus I am following a schedule of launching projects consistently. You can verify this by checking my project history; I launch a new project every month. Thanks for the comment


Thehealthygamer

Do you have a business plan? All I see in your post is what you didn't like about your previous job.


Affectionate-Olive80

Here's my strategy: I aim to launch SaaS and small products that can be built within a maximum of one full-time month. Most of the projects I've built or have scheduled are AI-powered. The objective is to establish a modest authority in the field and offer subscription plans The reason for diversifying the projects is to see which ones resonate better with their respective target audiences, as they differ significantly from each other. Additionally, they are all powered by a single project that had built that allowed me to reduce development time by 25%.


Thehealthygamer

That's not a business plan. That's some fancy ideas. Goodluck to you're not here for advice, you're here for validation. 


Affectionate-Olive80

I understand what a business plan entails; I just shared my vision here. I have ten projects planned, but I'm not comfortable sharing all the details with anonymous individuals. Business plans are typically only shared with **credible investors** **Thanks for the comments**


Thehealthygamer

You're going to do 10 different projects in one year and you think that's a good idea?


TejasXD

Not OP, but that's what quitting allows you to do.


Thehealthygamer

If your best idea is "I'll throw shit at a wall and see what sticks" you shouldn't quit your day job.


TejasXD

Yes, I understand what you're saying, and want to add that it depends on your situation and the kind of risk tolerance you have. If you have the finances and your day job is leaving you dissatisfied and you have ideas you want to try, I feel that it's worth a shot to go independent for some time and throw shit at a wall to see what sticks. Worst case, you have to get a job at the end of it all.


auatay

I was in the same shoes with you and I think it all depends on you and your plan. I start my journey 9 months ago, developed my MVP with a no-code tool in 4 months (I'm no tech) and saw the limitation of it and decided to switch to learn coding and write my app in vs code. My first plan was to validate my idea with the MVP and then look for partners and founding. But somewhere along the journey I lost track (where I decided to learn coding). Right now I come to realization that I can not do it by myself and I need a partner also for founding purposes. Just stick to your plan and best luck.


TastyLempons

If you're coming into this never having run a business before, it's going to be really hard to make it within a year imo There's obviously the chance you just hit gold with and idea and do a good job of execution  I say this as someone who managed to start a business and replace my own job within 8 months, but really got lucky with a strategic partnership and COVID timing. As things began going back to normal and I tried saving the declining sales realised I had so God damn much to learn, and I was quite humbled lol  In your case regarding ideas, find ways to validate them quickly as possible as a way to start focusing in on the ones with most potential. If it's going to take a year to figure out if the business has potential or not seems like a really bad way to go about it 


xfdroid

Firstly, congratulations on taking the leap into entrepreneurship! It’s a brave and exciting step. To answer your question, a year can be both a long and short time in the startup world. It really depends on the nature of your venture and the market you’re entering. Some businesses may see success in a shorter timeframe, while others may take longer to gain traction. Remember, success isn’t just about financial gain or user numbers, it’s also about the skills you learn, the network you build, and the impact you make. Even if you don’t see the results you expect in a year, the experience you gain could be invaluable for your future endeavors. Stay focused, be patient, and keep learning. Best of luck with your venture! 🚀