How to make failure sustainable (and career entrepreneurship possible)

http://thestartuptoolkit.com/blog/2011/12/how-to-make-failure-sustainable-and-career-entrepreneurship-possible/

by robfitz • 15 years ago

54 3 15 years ago

I think the overall idea of this post is sound: if you don't have something flexible to fall back on (contracting or just savings) then you may put yourself in a really bad position if you're company doesn't go as well as you think.

The focus we all need to really have is one of maximizing personal freedom / flexibility. You want to be able to avoid personal switching costs at all times, and live below your means so you don't need a full-time job (hand cuffs). Also, having a skill like programming or design (+ contacts to get gigs) is huge is keeping your flexibility. The lack of programers seems to make this the golden age of software entrepreneur "careers" - where you can always fall back on that.

Currently, I'm in a bit of spot after a startup gone "meh" - a sale I don't benefit much from and where I put all my savings into. I'm not a programmer, but I'm learning fast (got my first gig), and I'm able to do his part time contracting thing to get through it to the next one.

Motorgodess• 15 years ago

As a mom, I must always keep in mind an take care of the continuous cask flow that comes from my job. But my projects are of the same importance and I also apply my passion for startups in the same manner at my job. With my kid, it's harder to just what I would like, but also more rewarding and motivating.

ssebro• 15 years ago

While I agree with the overall idea in principle, I think you'll find that what you've done is to create a startup with infinite (at least until you die/give up) runway.

I think you've covered why it's a good idea, but I wanted to add a warning - having an infinite runway may cripple you. It may take away from your sense of urgency and desperation, which in turn may lower your chances of ever landing a success. This may change the equation so you'd be better off being a normal employee, given your skillset and drive.

How to make failure sustainable (and career entrepreneurship possible)

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