This is the Best Article I have read on the subject.
I've bootrapped (Consulting) a start-up for 9 years...
We were early...otherwise it would not have worked.
Now we are shifting gears and productizing.
Our new product is less than 12 months old and is already 20% of revenue.
We were a young management team (25) so consulting allowed us to cut our teeth and learn all the topics mentioned...poor advisors, account every expense, learn what net income really means, and how to manage cash flows...
There is nothing magical to starting a business it's just really hard. As one of our Angel's says "Nothing to it, just alot of hard work!"
I have comprimsed alot, haven't started a family, don't own a house, still sub-market income.
My advice: Scope the your vision relative to your ability to take risk. If your wife will only let you run for 24 months don't try to create google.
I've bootrapped (Consulting) a start-up for 9 years... We were early...otherwise it would not have worked.
Now we are shifting gears and productizing. Our new product is less than 12 months old and is already 20% of revenue.
We were a young management team (25) so consulting allowed us to cut our teeth and learn all the topics mentioned...poor advisors, account every expense, learn what net income really means, and how to manage cash flows...
There is nothing magical to starting a business it's just really hard. As one of our Angel's says "Nothing to it, just alot of hard work!"
I have comprimsed alot, haven't started a family, don't own a house, still sub-market income.
My advice: Scope the your vision relative to your ability to take risk. If your wife will only let you run for 24 months don't try to create google.