Doing 2 startups
7 comments
Startups are like girlfriends. You may think you can juggle two, but more often than not if you try that, you'll end up with none. You just have to figure out which one makes you feel happier and devote yourself to that one. If they both do, then it's the same as neither of them winning, and you need to stop to figure out what it is you want.
that is a point i had not considered before, but probably more reflective of the situation than any other point.
It comes down to two questions in my mind.
1. Is there a time to market issue with either project? In other words can your project be put on hold and still be viable if you come back to it in 6 months or a year? What about their project?
2. There is the question of control? Do you want to control your own destiny or not? If you do you stick to your own project if you are okay with seeding control of some of your future directly to others you have to consider what they are selling
Once you answer those two questions the choice should be self evident.
1. Is there a time to market issue with either project? In other words can your project be put on hold and still be viable if you come back to it in 6 months or a year? What about their project?
2. There is the question of control? Do you want to control your own destiny or not? If you do you stick to your own project if you are okay with seeding control of some of your future directly to others you have to consider what they are selling
Once you answer those two questions the choice should be self evident.
for 1, on my product i feel that there is a certain window of opportunity with it. it is a simple product that scratches a nice itch, somebody else is bound to have the same itch.
on their products(they have more than 1) their is also a bit of a time issue. they are basically short on people, the market is demanding more from their product and sooner so they need to bring in more people.
i guess it really comes down to your number 2. i am leaning towards focus on my product since i don't think i can reasonably do both at the level of quality i expect from myself.
on their products(they have more than 1) their is also a bit of a time issue. they are basically short on people, the market is demanding more from their product and sooner so they need to bring in more people.
i guess it really comes down to your number 2. i am leaning towards focus on my product since i don't think i can reasonably do both at the level of quality i expect from myself.
What about a 3rd option: consulting for them. Is that an option? This gives you the best of both worlds if you're able to do it.
Honestly, w/o more info, it's hard to help. Are you full-time w/ your startup yet? Do you have a product already that is bringing in revenue? Did you accept funding?
Honestly, w/o more info, it's hard to help. Are you full-time w/ your startup yet? Do you have a product already that is bringing in revenue? Did you accept funding?
consulting is potentially an option, but i don't think i would get an equity stake as a consultant. they are offering me equity now as a founding partner if i join up.
I am fulltime on my startup now. I am building the product, but i have no income/revenue source now. i am completely self-funded and i should be able to keep self funding for a year. i figured a year would be long enough to see if this idea has legs.
I am fulltime on my startup now. I am building the product, but i have no income/revenue source now. i am completely self-funded and i should be able to keep self funding for a year. i figured a year would be long enough to see if this idea has legs.
So if you continue what you're doing, you'll blow through all your cash in a year seeing "if the idea has legs." Consulting would pay you cash. That cash would allow you more time to test the viability of your product, wouldn't it? I'm assuming you are more interested in your baby long-term. I see win/win with consulting. If you take equity, it will likely be 2+ years before you see anything substantial whereas consulting can have a deep impact to your current business.
I don't know though - I guess it depends on how much equity, how big their market is, when you vest, and how much trust you have. I lean towards consulting because it allows you longer to work your deal.
I don't know though - I guess it depends on how much equity, how big their market is, when you vest, and how much trust you have. I lean towards consulting because it allows you longer to work your deal.
after a few social/startup things, a startup approached me and asked me to join their startup as a founding partner.
now they definitely have interesting technology and the problem space is super cool, however, my own startup is finally starting to get some momentum in its sails coding wise.
i am really torn. i love my startup, and they have interesting problems to solve.
(funny how i used to worry that nobody would offer me a job after i left my fulltime job for a startup, and now somebody has during it)