So I have an idea now what?
So you have a million dollar idea right? Well, do you have $100,000 to invest in it? no. have you been hit by a car lately and get a 7 figure settlement ? (pop quiz: where’s this reference from?)
So how do you get started? Couple of questions
1. Do you have any friends that are suckers? If so, start there.
2. Do you have domain experience. Ie: worked for a company in the same field of your idea in some level of responsibility? No…
3. Do you have friends with related experience?…No….
If the answer is no to all 3 of the above questions, I suggest saving your money and buying yourself a new car or get yourself a mistress. At least then you’d get laid constantly and not just fucked once.
I’ve said this a lot of times, it’s very important to have DOMAIN experience in what you are trying to do. If you don’t ask people that do and bring one of them on as a partner.
So you want to be greedy and keep all your equity? Are you rich now? No. So why the hell are you being greedy if by partnering with X you could be rich? If you do it yourself with no experience you will probably fail.
I have people come to me all the time with great ideas and limited budgets (under 50k) and say they know nothing about web development and ask me if they should built it in india for $4995…you know what i tell them…find yourself a partner thats a techie in the space that believes in you. I will not give you a dime because I have no faith in your ability to execute. Find a partner, please. If you can’t then you probably don’t have the connections to make the company work.
But you don’t want to give away all your equity? Give me a fucking break and go home now.
Email This
