Ask HN: First startup / cold feet. Any advice ?

What you're feeling is the reason even people like Bill Gates and Steve Jobs needed cofounders. I'd recommend finding one. It will also greatly improve your chances of succeeding.

Random advice you'll need: Spend as much time as you possible can trying to get money.<p>Just start now. Get some money.<p>Do it. Get some money. Are you spending time getting money? No? Do it! Stop redesigning your website. Get some money.<p>Product's rough? Offer it for 20% of what you'll sell it for later, with free upgrades. Do it. Get some money.<p>Are you spending time getting some money? Spend more time getting money.<p>Man... get some money. Stop messing around with a logo. You don't need a logo. You need money.<p>Improving the product? I actually spend waaaay too much time historically doing product development. I understand. But STOP! And get some money.<p>Get some money, man. From customers or clients. Beg for money, barter for money, work for money, do way more than you'd ever reasonably do for some money.<p>Just get some f*ing money, man. Money means people value your things and you're on the right track. Get money. ASAP. Especially in your first business. Money means you can sell, money means you can get loans, money means the business banker takes you seriously, money means they break the rules and wipe off charges for you (or give you telephone wire-transfer access before you're qualified, which you need to pay people when you're outside the USA traveling, and trying to get money from some people in Berlin). Money means you get lines of credit, or net-30 terms instead of paid up front. Money means later, you can pay people to do the most horrible aspects of your business once you've fully mastered them. Money means you're doing something of value.<p>Mate - stop designing your logo and color scheme, and get some money. It's the only way.

Don't think about the worst case scenario if you start a business. Think about the worst case scenario if you don't do a startup.<p>You are 40. Every day you work 9 - 6 at the BIG firm. Even after getting promoted several times, getting the corner cubicle in the process, you are a relative nobody amongst the other 1000 managers. You hate your job and you may be starting to hate your life. There have been 5 different economic slumps during your career, having you worry about your job and your family's survival every time.<p>The opposite case: You have started and sold two companies and are now working on the third one, after taking an year-long sabbatical in Egypt. True, your first startup failed and you had to eat ramen for a few months, but it only made you stronger, and no one remembers that now.<p>Of course, I'm exaggerating a little, but you get the idea. You will experience failures, but that's the small price everyone has to pay when they aim for the sky.

<i>Did anyone else here feel the same way when starting their first company?</i><p>Yes. I'd go on a limb and say that <i>everybody</i> feels that way when starting their first company. I'm on it right now and feeling it most certainly.<p>I convince myself by reminding me that I believe in the business model and in my skills, I honestly think I can pull it off.<p>In the beginning make sure you believe in your thing and try to be realistic about your planning. Base everything on pessimistic assumptions. How long will it take you to launch something, how long until you can realistically expect your first $1 of income? What unknowns are there and how will you deal with them? Write down your most important figures, juggle them around in excel, make sure to have a good feeling for what you're getting yourself into. If the figures say you can't do it then re-think your idea. If the figures say you can do it then try again with more pessimistic assumptions. A good business model looks promising even under most pessimistic assumptions. You definately want one that's robust enough to still work even when many factors turn out less than ideal.<p>Also make sure to realize that it will be much harder than you can possibly imagine. You definately need persistence. Easily more of that than you've ever needed before in your life. Stuff will go wrong, people will tell you that your idea sucks, work will overwhelm you. Be prepared to handle that without losing focus. Never panic. Don't torn yourself apart by trying to do everything at once.<p>If you think you have enough discipline to manage that then, by all means, do it. Remember you don't have much to lose. You can stop at any time and the expiriences you gained will help you either way.

You will fail, especially if it's your first time. Many of the most successful entrepreneurs in the world failed 6-7 times before they figured it out.<p>The best thing about failing is learning why you failed. If you're afraid of failing, you should give up now because you're not cut out for this thing.<p>Depending where you are in life, you'll need to assess your risk. It's going to be hard if you have a wife and kids.

You won't lose anything, because you'll compress a lot of learning into that time. Just be quick to release, because you start learning after you release, not before.<p>Pre release is like building a boat. Post release is like sailing out in a storm.

Thanks for the prompt replies, everyone ! I do understand the importance of a co-founder and am in talks with a couple of people I worked with before.<p>A couple of reasons why I am hesitating are :<p>1. I feel like I should get some experience in a startup before I start my own.<p>2. I know the idea has merit but I haven't done any market research yet so it might end up worth nothing.<p>Do you guys think one should work for a startup before starting one's own ? Is the experience VERY helpful ?<p>I thought about doing that but then I feel I wouldn't have as much control over the proceedings as I would like to have... to take the company in a particular direction.

At the end of Feb, I will have gone one year without a job. By choice. I spent that time finishing grad school and working to get some things off the ground.<p>I used to have cold feet and sometimes I really hated my own guts for throwing my savings away for what felt like "spinning my wheels". I was also afraid of losing my bargaining power/credibility in my old community the longer I spent time away from it (unfounded fear FYI). Oh and I had months where I felt like I wasn't making progress fast enough and I had many days full of questioning myself. I should note I launched two projects during this time that saw very little interest--finding this out early is a great argument for release early, release often.<p>Anyways, there is a happy stop gap in here somewhere. I launched a project in November and it gained interest and started making money. The profits are nothing huge but making that first $1 is huge to developing that entrepreneurial confidence. Its a small milestone but celebrate it anyways.<p>Now I'm getting close to ready with my big startup effort. Its based on one of the aforementioned failures but I'm using the lessons I learned and I'm really excited about it.<p>It took awhile but after a few breakthroughs I'm glad I took the jump. If I don't succeed now, I feel its certain I will later. Each effort I'm learning different things and starting to develop a mental model of what works and what doesn't.<p>Its one thing to read "write to bloggers to help market your product". Its another to write to them get zero response, refine your pitch, add a mediakit, and then try again and succeed.<p>My point is--you may have some growth to experience before you're ready to run a successful company. However, no matter how much growth you've got to go through, you may as well start now. It doesn't happen on its own.<p>Oh last point--to quit your job is a decision only you can make. I find when my personal needs are met its hard to force myself to do things that are painful but necessary for growth (i.e. get started). Even when I had significant savings left, I still felt too comfortable. Seeing my savings dwindle offered a great kick in the ass to move :)<p>I'm consulting now to meet my financial obligations but am nowhere near comfortable. This makes the whole thing feel like a "mission" and I love it. YMMV.<p>Good luck!

Keep that feeling, it's your biggest asset. The moment you lose it is when you should be looking out real hard for trouble because it is bound to happen.<p>Insecurity at some level is one of the biggest drives to succeed, even if most successful entrepreneurs would never admit to it.<p>There is no such thing as a 'failed' startup, there are no such things as 'bad questions'. Even the worst startup experience will teach you more than years of business theory will ever do and even the most silly question deserves to be heard and answered in a serious way.<p>Don't let anything or anybody stand in your way of trying and give it your best, you'll probably be amazed how far that will get you on momentum alone.<p>For me the turning point came when I was out of a job and my gf was pregnant, it was all or nothing and it worked out pretty good, 15 years and counting. I'd never go back to a day job no matter what the compensation and 'perks', there is no better perk than to know that you are moving under your own power.

When I was talking to one of the local luminaries in the startup scene he said something that seemed really "on":<p>"It's uncertain what the worth of your startup will be. However, you can be certain that your personal worth will grow enormously."<p>If you approach your first startup as one of the foundational personal education experiments that you'll go through it's a win-win. Before starting a company I <i>thought</i> I knew something about business. A year in it's amazing how much I've had to learn just to keep things functioning. If you approach it with that mindset, and keep your cash-flow tight, I think you'll find that as a personal investment it's an extremely worthwhile experience -- even if it's just to realize that the startup game isn't for you.

You don't have a safety net? You'll find you don't need much of one. If you have money saved up, reduce your expenses and figure out a time-frame for it to work. By the end of that time frame you can decide what you want to do. You would be surprised how well you can scrape by if you really want to.<p>What if the company fails? Who cares! You'll learn so much about what you are doing, yourself, and much more that you will benefit either way.

"What if the company fails? I would have lost this time."<p>You're going to learn a lot while doing this - more than you would have at any corporate job - so regardless of what happens I wouldn't consider your experience a failure. The financial outcome isn't the only metric involved in success.

Having a cofounder != an increased chance of success for your startup. Having the right cofounder that is as excited about your product and is as determined as you are to make something thats awesome will be the difference between failure and success.

Whether you decide to quit your job or not, do the startup anyway.

Thanks for the invaluable advice, everyone. Really appreciate you guys taking out the time to reply !!<p>I've made the decision ... it's going to be a startup. If nothing else, it will be one dandy adventure !<p>thanks again!

By "no safety net" do you mean no savings? That's how I read it at first. In which case, run, don't walk, away from the startup until you have some in the bank.<p>BTW, our "startup" is earning money after the first month we shipped. We made $1500 on the first round of 30 day trials. (Now we're up to about $2000, as we're rolling towards 60 days - and thus another wave of charges - but not there yet.)<p>That's not enough to live on, but you can make money right out of the gate if you:<p>1. Solve a real business problem.<p>2. Solve a REAL business PROBLEM. That doesn't mean inventing some new tech thing and then looking for a problem it can theoretically be applied to, &#38; expecting people to eat it up like pigs eat slop.<p>3. Solve a real BUSINESS problem. If it adds actual bottom-line value, people will pay for it.<p>And if you're not doing a service people will pay for, you're going to be freaked out until those savings are gone, because your only option will be a buy-out.<p>EDIT: I have grander plans too beyond this first money-making service, but I <i>do</i> care about it itself, as well. I don't recommend doing something you're going to come to despise to pay the bills. Might as well have a job, at that point.

Work on your project for a couple of months, and see how it feels then.<p>If you're feeling good about it, do continue, if not, think of something else.