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I have made so much sacrifice. I started my company with a 6 month runway, got burned repeatedly by bad developers, lost faith and confidence in my way of doing business… now I just feel hopeless as I’m realizing that I am going to be homeless…

  • That sucks. Go get a job and make sure you have a place to sleep! Life is long, you will have more opportunities.

    Reply

    • The first thing to be done when you are not feeling good is to fell comfortable.

      Think about this.

      In your case I believe the best you have to do is get a job.

      With money you will have a place to call home.

      What you think about this?

      Reply

  • Unfortunately your experience is more the norm. The common belief that all you have to do to build a successful business is have a great idea and the willingness to work hard. Not true. You need business education that covers all the bases of launching and running successful business. Build it and they will come and Do what you love and the money will follow are myths that have led too many entrepreneurs right off the cliff. I am sure you learned a lot from your experience which you can apply to your next venture (once you have recovered from this punch to the gut!) Do yourself a favor and take business courses or even a How to start a business for Dummies book so you know really what it takes. Tomorrow is another day with new opportunities. Don’t get stuck in the past with regret and recriminations. Look ahead, seek the education you need to be well equipped when the next opportunity shows up.

    Good luck!

    Reply

  • sorry to hear that. in my experience i think if you wanna run a business you need an ok idea, good execution, some hard work and rest luck … best for you at this point is to gt a job, i find that starting some basic ventures also helps you to get back on the mindset, say an investment of only 100 USD, and see how you can make some profit out of it – and always try to beat your own profit from before. – ofc this is not always applicable.

    good luck.

    Reply

  • OP, similar boat here. I made the decision to build my alpha with help from overseas after getting burned by more than one, talented, overcommitted local developers in the US that set me back by months with no progress. It took three times as long using overseas talent versus a committed US based experienced developer and if I didnt have technical experience myself, it would’ve surely never got done. Im starting to hate the project that was a life passion, that’s won awards, because they drained the life out of me in quality control fixes and the lack of funds to live has worn very thin. I have a business degree and it helps but not much in the development stage. VC money is not thrown at you if you’re not in SV and not all VC money is good money. Dont have any advice. Still going through it. At least you’re not alone.

    Reply

    • I’ve been in the same situation, 2 years later I’m still financially worse off than when I started but things are slowly improving and I can afford to pay the bills once again after a low point of cashing in my life savings. Totally agree with your comment on no VC money outside SV.

      In short, I wish I knew just how difficult it was going to be, I had the same issues with poor developers and only got through it with my own development knowledge and by micro-managing quality. I have a B2B product used by one of the largest Utility companies in the UK but I still wonder if it will be worth it 🙁

      Reply

  • This can all become part of your book when you become famous.

    There’s always 2 ways of looking at something.

    Reply

  • Best thing to do is to evaluate purpose. (Because, even I am feeling like a big-time fool and I am perhaps going to be fired within a month because, I have been helping entrepreneurs and what we both are feeling are more or less the same). Please consider taking free things like Pat Flynn’s Smart Passive Income, Dean Graziosi’s Totally Fulfilled (please don’t gawk at this. It is upto you), Andrew Warner’s Mixergy, Dan Sullivan’s 10x Talk, Joe Polish’s I love Marketing, Nathan Chan’s Foundermag podcasts, Dan Sullivan’s Exponential Wisdom. If you have little money, please consider buying books like Tim Ferris’s 4 hour workweek and similar things. But, please evaluate your purpose. Otherwise, you may unnecessarily end up in job even if you don’t feel aligned towards purpose or vice-versa.

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