Ask HN: When do you risk it all? | Hacker News Reader

Ask HN: When do you risk it all?

3 pointslettergram5 comments

I don't have a "startup" yet, necessarily, but I am curious if anyone has advise on when I should "risk it all."

I have been driven to build my own company since I was ~10 years old, and am pretty sure my idea is a good one. Further,

[1] I have a prototype, which tentatively proved (to me) my theories/ideas will work.

[2] I have several individuals offering investment(s) in my idea.

[3] I recently applied to YC, haven't heard back, and who knows with a 2% acceptance rate.

[4] I am pitching my idea at an "open pitch session" to Max Levchin + HVF 10/20.

Regardless of the out come from any of the above, I don't know if I could stomach working at a company.

I have a standing offer with Capital One (Research Labs), am applying to graduate schools, and am interviewing with Google monday. However, I can't see myself any of those places three years from now..

When do you just take your ideas and build it into a company?

I know my idea is excellent, but I have next to no resources, minimal credentials, and nothing but math to back me up (oh an $100,000 in student debt).

I'd strongly consider spending two years at Big Daddy G, living like a monk, and revisiting this problem again when you have a bit of industry experience, a credential ("previously employed at Google"), and $50k in the bank, so that you're not immediately crushed by the combination of "no revenue" and "$2k monthly student loan payment."

It is highly unlikely that the market will materially change out-from-under your present idea in two years, and even more unlikely that this will be the last idea you ever have for a business.

Is it possible to deploy an MVP or at least gather signups before going too far?

Ideas are a dime a dozen. Investors dont give a shit about your idea. What they want to see is that other people are willing to buy into your idea OR if you are so amazing that your idea is ahead of its time then at least you are able to execute on it.

Until you can prove either of those, you dont have much so dont bet much.

Fair enough, I already have signups as well as potential investors (I declined them because I didn't feel they were a good fit).

As for an MVP, I need about $150,000 to get the business going. I already have a basic prototype, but would need to dedicate time to finish it.

I say: go for it.

Dive into it fulltime. Do not take outside money.

From my experience, risk takers have the better life. On average. That doesn't mean you could not end up fucked. But that's the whole point of risk taking.

And for outside money - I have been screwed so often and so hard by business partners. Maybe it's just a personal thing. But if I had to give my young self an advice from the future, it would be: Don't entangle with others.

Oh, and I think you completely overdramatize this. Don't pretend you are preparing a flight to the moon. Just make a real minimal viable product in a month or two. And see if people use it. I have seen people with dedication going from not being able to program to having a working thing generating money in less then 2 months. Its all about going into it with 100% full force. If you tinker with a project on the side, my bet is that it will fail.

get out of debt as soon as you can.

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