Confused between my startup and full time job
I started my startup few months back while working in my current company but now i feel i need to go full time in my startup in-order to grow it quickly. But I can’t do it because i bought a 2bhk last year (worst decision of my life). Now i need atleast 1 lakh a month to survive. Also, in my mind sometimes i feel there’s no excitement left in my current job. I wish to switch sometimes. But if i switch i will have to prove my next company again and i will not be able to focus on my startup.
I know i have fuck*d up but I don’t know what to do next. I constantly feel because i bought a liability as home i am unable to fulfill my dream of building a startup. Now i have 3 options:
- Keep building and wait my startup starts earning some revenue and go full time then.
- Do fundraising and go full time.
- Switch job and pause my dream for sometime.
Any advice for me?? I will give you advice: don’t ever have a liability if you ever wanna build a startup.
Talking product sense with Ridhi
9 min AI interview5 questions
A home is a liability if you are not living in it or just bought it to flex.. Otherwise you did the right thing… Just accept the fact that money is needed for survival, and you will find a way
Currently I am not living in it but even if i live in it i feel it’s a liability to pay more than 50k as EMI.
I feel it’s a defeat for me if i accept the fact that I can’t build my startup right now the way i want.
Why do you want to accept this defeat? You are put into this position because you can endure it. Trust me brother not everyone is courageous enough to walk the patch you have chosen. Embrace it, live with it.
Remove the liability, sell your 2bhk
Yes and putting the house on Rent is another alternative. Even though the solution (selling or giving on rent) is available, the author will not take any corrective action and will play the victim card and try to showoff. This has already become a trend.
If you can raise funds, that's the first thing to do. Why risk your money, when you have greedy fuckers willing to give it you?.
I don't know why you are working a full time job, when you have a idea capable of raising funds. Clear your loan with the first round and get yourself a nice car. During the second round you can focus on your startup. Everyone does the same.
How's is it possible with the investors money, capital raised needs to be accounted when it's spend, isn't ?
Yeah bro, I don’t want to get thrown out of my startup like Ashneer grover.
Is your startup is not giving you excitement??
It’s giving me enough excitement that i want to go full time right now😂
If startup is giving excitement and your current salary is enough for all emi's and expenses
Take salary from current company and get excited from startup 😁
Bro.. I am in the exact same situation. House EMI, plus I have a new born baby. Now I'm not able to switch jobs, go full time on my start up. Need at least 1.5 lakhs per month to just survive in this world. Parents expenses, baby expenses, monthly EMIs.. What do I do😐
In same situation.. haha
What is your startup btw ?
Providing Easy to use SDKs for EdTech.. currently we are building Live Class SDK as MVP.
Building or buying a house is a personal startup , having a kid and raising it is a personal startup -You need the same amount of patience , endurance and economical planning . The only problem is , it’s not something you can flex in a society as much as a startup owner but long term self satisfaction is almost same in both case . Now coming to your desire of working for startup , you should and you must run your startup . And you can leave your job and work on another company for the time being as well . Just avoid being frustrated and take a wrong decision . For now , work harder and find ways to survive and earn more profit . If possible hire an intern or two and trade time for money but keep your dream company running for a few months more . At the same time ; start talking to investors and be bold about why you haven’t left your job yet while working on the startup . You can raise some X amount that can pay you a salary for some months along with running your startup . Believe me , a lot of people have been running startup’s while working full time and a lot of founders have taken the bet of running a startup while owning liabilities . Good luck . Be courageous and bold
Thanks Man, for a well detailed Advice.
Don't go for full time start up.it is risky ..95% chance of failure.keep job.sell flat.do start up side by side.live on rent till the time you will have enough money without loan.focus on creating multiple passive income side by side.for eg - investment or writing books l or creating youtube channel etc. first learn about what is business.business does not mean leave job and invest your complete time into it. business means finding right opportunity and involve require right resources into it to get profit out of it.
Don't sell your house and don't leave your job .
First make at least a few sales and deliver the product and then go talk to Angel investors and raise a round of money ( could be even friends and family also ).
By this time you will know if your idea is viable or not.
After that you can a decision accordingly .
I was in the same situation, DON'T sell your assets. I suggest you to continue work in startup along with job, once you start earning from your startup repay the loan.