Starting your own gig... how was it?
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I don't think I'm made for the 9 to 5 world, especially when I work for someone else, while I could do my own thing and benefit from it. There's a product I'm working on, well, it's something I created for a retail store a while ago in VB and I'm porting it to VC++, making it better, etc. I think there's a good potential to sell this product, hence I might be tempted to start my own company. I did have a few before (skateboard/snowboard shop, clothing company, etc.) but nothing related to IT. For those of you who went that route, what did you do? Continued to work full/part time, freelancing, ??? Was it hard at first (I'm sure it is, but was it *particulary* hard?) Have a nice day and thanks for your input!
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I don't think I'm made for the 9 to 5 world, especially when I work for someone else, while I could do my own thing and benefit from it. There's a product I'm working on, well, it's something I created for a retail store a while ago in VB and I'm porting it to VC++, making it better, etc. I think there's a good potential to sell this product, hence I might be tempted to start my own company. I did have a few before (skateboard/snowboard shop, clothing company, etc.) but nothing related to IT. For those of you who went that route, what did you do? Continued to work full/part time, freelancing, ??? Was it hard at first (I'm sure it is, but was it *particulary* hard?) Have a nice day and thanks for your input!
Watch out for costs. Work out how long you will have to wait before the money comes in, then double it. And good luck, the best boss is no boss. Old Simon HB9DRV
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Watch out for costs. Work out how long you will have to wait before the money comes in, then double it. And good luck, the best boss is no boss. Old Simon HB9DRV
Yeah, I'm working on the porting right now and my budd who's studying in marketing says there's a good potential. I guess the best thing to do is to keep the full time job until we actually see how to product sells. But I'm pretty sure I'd have to develop some other products to actually have my first million! ;) The whole point of it is to have a good living by having my own gig.
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I don't think I'm made for the 9 to 5 world, especially when I work for someone else, while I could do my own thing and benefit from it. There's a product I'm working on, well, it's something I created for a retail store a while ago in VB and I'm porting it to VC++, making it better, etc. I think there's a good potential to sell this product, hence I might be tempted to start my own company. I did have a few before (skateboard/snowboard shop, clothing company, etc.) but nothing related to IT. For those of you who went that route, what did you do? Continued to work full/part time, freelancing, ??? Was it hard at first (I'm sure it is, but was it *particulary* hard?) Have a nice day and thanks for your input!
I don't mean that you shouldn't do it, but you must be realistic or even pessimistic. You are betting your livelihood on this. Maybe even the security of your family. Are you willing to risk your house? It is important that you view all your marketing research without rose colored glasses. Like David said, if there is no competition, then why is there a big market? Maybe you have found a segment of the market that needs addressing, maybe not. Only you can answer that. So, good luck. Tim Smith Descartes Systems Sciences, Inc.
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I don't mean that you shouldn't do it, but you must be realistic or even pessimistic. You are betting your livelihood on this. Maybe even the security of your family. Are you willing to risk your house? It is important that you view all your marketing research without rose colored glasses. Like David said, if there is no competition, then why is there a big market? Maybe you have found a segment of the market that needs addressing, maybe not. Only you can answer that. So, good luck. Tim Smith Descartes Systems Sciences, Inc.
That's a bit harsh for someone that actually owns his company (or so I think, might be mistaken!) ;) Anyways, I'm 28 yrs old, no house, no kids, nothing much to lose. The way I see it, I could try and if it does not work, then go work for someone else. I'd rather try it now than in 10 years from now, where I'd really have to put important stuff in jeopardy! My answers to questions 1, 2 and 3 where a bit vague I admit. The market is good but not huge. Hey, it might be smaller that I think! It's mostly sporting goods retail stores that could benefit from my product. You might think: "what the hell is that product anyway?!" :) I wouldn't limit myself to that only, there's a few small apps that could sell well on the net and I'd like to go back to web site design as well. When you gather a bunch of products and services, I guess that you *could* make a living out of it...
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I don't think I'm made for the 9 to 5 world, especially when I work for someone else, while I could do my own thing and benefit from it. There's a product I'm working on, well, it's something I created for a retail store a while ago in VB and I'm porting it to VC++, making it better, etc. I think there's a good potential to sell this product, hence I might be tempted to start my own company. I did have a few before (skateboard/snowboard shop, clothing company, etc.) but nothing related to IT. For those of you who went that route, what did you do? Continued to work full/part time, freelancing, ??? Was it hard at first (I'm sure it is, but was it *particulary* hard?) Have a nice day and thanks for your input!
You first need to do good market research. Is there a market for your product. Who is in the market? Do you offer something that is better and different. I'm currently developing my own set of products that I hope to make money out of. To finance this little operation I do contract development work. This pays the bills and gives me the freedom to work on my own stuff. It is very hard work, working on other people's rubbish and then starting in the evening to work on your own stuff. There are other legal stuff to worry about about who owns what code but I manage by working only on projects where I have a cast iron contract. Don't do anything without having a good business plan worked out. Talk to your bank manager, find out if he'd lend money to you based on the plan. If they won't touch it, then I'd rethink your plan. Hope this helps, Michael :-)
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I don't think I'm made for the 9 to 5 world, especially when I work for someone else, while I could do my own thing and benefit from it. There's a product I'm working on, well, it's something I created for a retail store a while ago in VB and I'm porting it to VC++, making it better, etc. I think there's a good potential to sell this product, hence I might be tempted to start my own company. I did have a few before (skateboard/snowboard shop, clothing company, etc.) but nothing related to IT. For those of you who went that route, what did you do? Continued to work full/part time, freelancing, ??? Was it hard at first (I'm sure it is, but was it *particulary* hard?) Have a nice day and thanks for your input!
I was all set to quit the 9-5 stuff and commit to my own apps, full time - then the economy tanked. My sales have dropped by more than 1/2 (closer to 2/3) in the past year. And now, I barely have incentive to maintain the apps I have, let alone develop new ones. A year and a half ago, it was looking like I oculd make the equivalent of my 9-5 job from my own stuff. Now, it's just a small side income. My suggestion would be to start off part-time and see what the market is like. -c
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I don't think I'm made for the 9 to 5 world, especially when I work for someone else, while I could do my own thing and benefit from it. There's a product I'm working on, well, it's something I created for a retail store a while ago in VB and I'm porting it to VC++, making it better, etc. I think there's a good potential to sell this product, hence I might be tempted to start my own company. I did have a few before (skateboard/snowboard shop, clothing company, etc.) but nothing related to IT. For those of you who went that route, what did you do? Continued to work full/part time, freelancing, ??? Was it hard at first (I'm sure it is, but was it *particulary* hard?) Have a nice day and thanks for your input!
Don't go for marketing research, trust your INTUITION. Start small, home office, no personel. If you need the finance, try to get a 24-hour per week consultancy or other free-lance job. The rest of your time, go for it and you will succeed. And in the unlikely case after say a year the market appears to be not there, you can always go back to your 9 to 5 job. You have not failed, you have dared to live, you've had a lot of fun, and as David said, a lot of useful experience! Sito Dekker
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I don't think I'm made for the 9 to 5 world, especially when I work for someone else, while I could do my own thing and benefit from it. There's a product I'm working on, well, it's something I created for a retail store a while ago in VB and I'm porting it to VC++, making it better, etc. I think there's a good potential to sell this product, hence I might be tempted to start my own company. I did have a few before (skateboard/snowboard shop, clothing company, etc.) but nothing related to IT. For those of you who went that route, what did you do? Continued to work full/part time, freelancing, ??? Was it hard at first (I'm sure it is, but was it *particulary* hard?) Have a nice day and thanks for your input!
I don't see any problem with you selling (or sitributing on license) your product whilst still in full time employment, until support and popularity of your product demands more of you. For retail outlets they may prefer demonstations outside daytime hours anyway. I of cause don't know you or your product, but, in my experience as electronics design engineer and programmer, the person who designs the product is generally not the best person to sell it. He/she is the best placed for detailed technical discussions, but that is rarely done at the point (or rather the 'moment') of sale. So, unless it is a situation that requires you as the expert to be present at each installation, I would consider having your product sold/distributed by people who are geared up for it. We do it for the joy of seeing the users struggle.
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I don't think I'm made for the 9 to 5 world, especially when I work for someone else, while I could do my own thing and benefit from it. There's a product I'm working on, well, it's something I created for a retail store a while ago in VB and I'm porting it to VC++, making it better, etc. I think there's a good potential to sell this product, hence I might be tempted to start my own company. I did have a few before (skateboard/snowboard shop, clothing company, etc.) but nothing related to IT. For those of you who went that route, what did you do? Continued to work full/part time, freelancing, ??? Was it hard at first (I'm sure it is, but was it *particulary* hard?) Have a nice day and thanks for your input!
While I did not start my own company I am in a position very similar to someone who has just started their own company. Number one rule of keeping a business going? Cash flow. Plain and simple. Even if you do projects for cost price as long as you keep the money flowing in you can pay your debts and keep your head above water. Of course you don't want to get stuck in a position were you are always treading water, but it is better than going under. Don't dellude yourself into thinking "ok, ok, so I have big debts coming, but I will handle them for a few months and then when the sales start pouring in pay them off". You quickly find yourself out of your depth. Other things we have learnt are to not expand to quickly, but don't stagnate. It is hard to walk that line but you will know when you are expanding to quickly. You have to be dedicated, seriously, seriously committed. The first slog is just that, a real slog. It is tough going and you become a workaholic. If you don't you probably won't make it and might as well go back to 9 to 5. I don't think there is any magic path or easy way. Also working while trying to get your company off the ground propably is not a good idea. If you cannot focus and give it your all then get someone who will or do it properly. Most of all, rather be confident and positive :) Good luck :) regards, Paul Watson Bluegrass Cape Town, South Africa Do you Sonork? I do! 100.9903 Stormfront "The greatest thing you will ever learn is to love, and be loved in return" - Moulin Rouge
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That's a bit harsh for someone that actually owns his company (or so I think, might be mistaken!) ;) Anyways, I'm 28 yrs old, no house, no kids, nothing much to lose. The way I see it, I could try and if it does not work, then go work for someone else. I'd rather try it now than in 10 years from now, where I'd really have to put important stuff in jeopardy! My answers to questions 1, 2 and 3 where a bit vague I admit. The market is good but not huge. Hey, it might be smaller that I think! It's mostly sporting goods retail stores that could benefit from my product. You might think: "what the hell is that product anyway?!" :) I wouldn't limit myself to that only, there's a few small apps that could sell well on the net and I'd like to go back to web site design as well. When you gather a bunch of products and services, I guess that you *could* make a living out of it...
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I don't think I'm made for the 9 to 5 world, especially when I work for someone else, while I could do my own thing and benefit from it. There's a product I'm working on, well, it's something I created for a retail store a while ago in VB and I'm porting it to VC++, making it better, etc. I think there's a good potential to sell this product, hence I might be tempted to start my own company. I did have a few before (skateboard/snowboard shop, clothing company, etc.) but nothing related to IT. For those of you who went that route, what did you do? Continued to work full/part time, freelancing, ??? Was it hard at first (I'm sure it is, but was it *particulary* hard?) Have a nice day and thanks for your input!
LukeV wrote: Was it hard at first (I'm sure it is, but was it *particulary* hard?) It's always hard ! unless you are one of the fortunate few who strike it real lucky The other replies you have got are ALL good! In KiwiLand here you can get a "Business Mentor" for free from different agencies. May be there is something similar in your locality, Please consider it before going into business. Most Business Mentors here are older folk successful in there own right and do the mentoring for alturistic reasons etc. Maybe you get a Mentor who knows Jack about the IT world, but anyhow they can help you. My last Mentor arranged FREE legal and Accounting services for me for one year, that alone was worth having a mentor for, he also arranged a number of useful although not IT contacts, and was great to bounce ideas of his head etc. He became a real advocate of mine and truly enjoyed helping me. BTW: The business still went bust and I think my mentor was more upset than me about that! LOL Best of luck to you! Regardz Colin J Davies
Sonork ID 100.9197:Colin
I live in Bob's HungOut now
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I don't think I'm made for the 9 to 5 world, especially when I work for someone else, while I could do my own thing and benefit from it. There's a product I'm working on, well, it's something I created for a retail store a while ago in VB and I'm porting it to VC++, making it better, etc. I think there's a good potential to sell this product, hence I might be tempted to start my own company. I did have a few before (skateboard/snowboard shop, clothing company, etc.) but nothing related to IT. For those of you who went that route, what did you do? Continued to work full/part time, freelancing, ??? Was it hard at first (I'm sure it is, but was it *particulary* hard?) Have a nice day and thanks for your input!
- You may want to consider keeping your day job and while trying to drum up initial business. This is relatively low risk, and I'll keep you from running out of cash when you finally (almost) have reached the momentum. 2) Realize that you'll go from 100% developer to 10% developer and the rest being sales rep, book keeper, office manager, janitor, support engineer, receptionist and 20 other titles. Make sure you have a finished product to sell before you throw yourself into this. If you are going to be even moderately successful, it is 100% certain that you will overcommit yourself and you will be overworked within 3 months of starting your business. 3) Talk to a few potential customers and get a feel for how much they would need the product, how much they would be willing to *really* pay for it, how much support they would need and if they want to pay for that (very important!), whether they need customization, and how this all translates to your business model. 4) Be professional but keep your overhead minimial. 5) Make sure you write a busines plan and continously check all the assumptions in your business plan against your initial experiences and feedback from potential customers. Don't fall into multiplication traps (ie: 300,000 bicycle shops * 2% of them buy my product * $400) but try to focus on real revenue opportunities that are within close reach. 6) Put profitability before growth. If you're profitable, it's easy to grow if you choose to do so. If you're not profitable, everything is going to be a struggle. 7) Keep in mind that almost any business takes a while to take off. The good news about a software or consulting company is that you generally need very little capital investment. But an alternative stream of income that doesn't threaten your ability to run your business is a major strength in the beginning. 8) Good luck!
Mike Sax
Sax Software Corp.
Rock Solid Components™
http://www.saxsoft.com
1-800-645-3729 -
I don't think I'm made for the 9 to 5 world, especially when I work for someone else, while I could do my own thing and benefit from it. There's a product I'm working on, well, it's something I created for a retail store a while ago in VB and I'm porting it to VC++, making it better, etc. I think there's a good potential to sell this product, hence I might be tempted to start my own company. I did have a few before (skateboard/snowboard shop, clothing company, etc.) but nothing related to IT. For those of you who went that route, what did you do? Continued to work full/part time, freelancing, ??? Was it hard at first (I'm sure it is, but was it *particulary* hard?) Have a nice day and thanks for your input!
Was it hard at first (I'm sure it is, but was it *particulary* hard?) hmmmm ... 2 years working 12 - 16 hrs a day mostly 7 days a week if that counts as "particularly" hard ... it nearly killed me ... neraly burned out with computers altogether ... i guess it told me i was truly a geek that i could carry on and still enjoy the coding thats another point ... developing for a single client is one thing ... an open market product is another ... hope you like support / customer stuff / bug fixing / upgrading / fone never being off / etc ... it gets to the point where i dream of an undisturbed days coding like i dream of a holiday ... sad huh? upside is i work for myself and like to delude myself i can take time off whenever i want (of course i never have time for holidays but thats another matter) ... its a good thing but it sure ain't easy ... i do have a very very good friend at microsoft who i used to freelance with years ago and he tells me he envies me in a lot of ways so go figure get a demo version ready and try to find a strategic partner / backer to help you get over the first humps ... then if the product really is useful it should take off on its own we work in the financial markets and rule of thumb is 3 months from the trial month starting to a client paying (we charge per month) good luck --- "every year we invent better idiot proof systems and every year they invent better idiots ... and the linux zealots still aren't being sterilized"