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- How to build a startup full time?
How to build a startup full time?
That of course is much more comfortable then building it at the side - but this will only work if you have enough fundings and it might also be psychologically more challenging.
So you want to dedicate all of your time to your startup? As thrilling as that sounds, giving your all to a project that is just beginning is demanding, both financially and mentally.
While having no distractions or work commitments will definitely speed things up, it does not mean that it’s going to be all smooth sailing.
Here are some things to consider if you want to focus all your time and energy on building a startup.
Make sure that you can actually afford it, and we don’t just mean the cost of the Startup. Make sure that you have enough savings for longer than what it might take for the startup to generate income, because things get delayed and plans get pushed back every day. Getting your startup off the ground might cost you even more than you think, if you don’t account for some things going wrong, things taking longer or costing a bit more.
If you have decided to stop working for others and want to make decisions all on your own, well, good for you! But make sure that you have your emergency fund for at least a couple of months, as well as some extra money for your startup emergencies.
Another thing that often gets overlooked is how much of a mental toll it takes to start a new business. If you are just getting to know the startup world and have never done this before, chances are you will come across some obstacles and challenges that will require your full focus and resilience.
You can have a perfectly written out business plan and still some circumstances might pose a challenge to your seemingly perfect agenda. When you do not have a plan B or another active source of income, every small setback can feel like a failure. But in fact, these setbacks are just part of the startup game and your plan will rarely if ever be executed perfectly. So don’t lose motivation after the first challenge, it is just a part of getting there.