318 karma · joined July 7, 2011
Tru dat!
Thanks!
"By 2009, the median net worth for white households had fallen 24 percent to $97,860; the median black net worth had fallen 83 percent to $2,170"
That's MEDIAN, not AVERAGE. Average is even worse, as you say drawn up by the few very wealthy. But with median, the wealth disparity is already astounding. It's a racial issue. We can debate the reasons, but the fact remains. Middle class and even lower class white households still have much more wealth on average than their black counterparts in the same income group.
You received 3000 GBP in startup money competitions, no strings attached, the first year. That's pretty damn good. I know startups that have raised a million dollars and don't have that much revenue.
Don't forget advertising. Sure you need lots of hits to make good revenue, but I know guys living off only ads for their apps. They also offer paid versions, but these tend to be a minority of the revenue. Don't underestimate what adsense/admob plus some social media exposure can get you.
You probably don't realize how successful you are already. That leads me to believe that if you stick to it, you're going to be quite successful. It may take 20 years, but eventually you're going to get some traction.
It's not the idea. It's not really even execution. It's persistence. If you keep trying your startup long enough, you'll eventually make enough to live. Maybe not be rich, maybe not make as much as you could have in a big corp (TM), but you'll survive, and you'll be your own boss.
My family has been doing startups for literally generations. I'm not rich, and neither are they, but we've survived. We did it by being persistent.
Stick with it, and I know you'll succeed. Don't give up.