- Any idiot can cut costs, but spending money well is an art. It is worth getting good at, and that requires practice and the willingness to waste money sometimes. That’s a better skill to learn than how to lower expenses (though you should learn both) - it’s much more fun to grow your way out of a cash crunch than it is to cut your way out.
- Related: most things you spend money on are a waste.
- We didn’t hire anyone in our first 2 years. I didn’t hire another developer in our first 3. We probably could have pushed both those numbers a bit further if we were more disciplined with our own time. We were ramen profitable after 18 months, for context. *Don’t hire anyone until you have product market fit!*
- Don’t feel bad about co founders working free. The point is that in 5+ years time you’re all working for a very very good rate.
- Related: make sure you actually are paying yourselves really well in 5 years time, and/or are taking big lifestyle benefits. Otherwise what’s the point?
- You might get more tailored advice if you share what your venture does.