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Tech entrepreneur looking into bootstrapping an online business

iamonlyanegg

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Hi all,

I'm new to the forum. I recently read both FLM and Unscripted cover-to-cover. They became my reference books as far as entrepreneurial philosophy. While most other entrepreneurial books I read so far felt like a compass (at best), MJ's books felt more like a map where you could see where you are, where you could go, along with the major roadblocks you'll find along the way. They also feel very sincere in a way I could totally relate.

My professional background is in hard tech. I implemented complex 3D animation systems, video streaming & transcoding pipelines, audio codecs and networking protocols for some great software companies in California (my main tech stack is C/C++, OpenGL, Docker & AWS in case you're curious). The funny part is that the more specialized you become the further away your skill set gets from that of an entrepreneur. You become great at developing software for someone else but have NO CLUE about what it takes to create a business yourself. The cruelest part of working for someone else is that you are completely limited in terms of what skills you can acquire (you're hired to do one thing, and one thing only). In my view, being an employee of any caliber is just a horrible deal and reading MJ's books served as confirmation, so thanks for that, MJ.

Long story short, I decided to finally put a stop to that and quit my well-paid-yet-totally-unfullfilling software development job and devote myself full time to bootstrapping one of my business ideas while living off of savings. It's too soon for me to say if it has business potential but I feel like it could have a good chance of becoming a legitimate online business given the right execution. Worst case scenario, I will learn many new skills and connect with other like-minded folks, so even in case of failure it would still make for a positive ROI. I'm HAPPY to trade time + savings for just that.

My next immediate milestone is learning how to build auto-scaling website architectures (which is something that's currently not in my software development wheelhouse), so if anyone has recommendations on that I'd be interested in hearing some pointers!

I'm stoked to be here, happy to help other fellow entrepreneurs by answering tech questions or however else I can.

Best,
 
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Deleted50669

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Hi all,

I'm new to the forum. I recently read both FLM and Unscripted cover-to-cover. They became my reference books as far as entrepreneurial philosophy. While most other entrepreneurial books I read so far felt like a compass (at best), MJ's books felt more like a map where you could see where you are, where you could go, along with the major roadblocks you'll find along the way. They also feel very sincere in a way I could totally relate.

My professional background is in hard tech. I implemented complex 3D animation systems, video streaming & transcoding pipelines, audio codecs and networking protocols for some great software companies in California (my main tech stack is C/C++, OpenGL, Docker & AWS in case you're curious). The funny part is that the more specialized you become the further away your skill set gets from that of an entrepreneur. You become great at developing software for someone else but have NO CLUE about what it takes to create a business yourself. The cruelest part of working for someone else is that you are completely limited in terms of what skills you can acquire (you're hired to do one thing, and one thing only). In my view, being an employee of any caliber is just a horrible deal and reading MJ's books served as confirmation, so thanks for that, MJ.

Long story short, I decided to finally put a stop to that and quit my well-paid-yet-totally-unfullfilling software development job and devote myself full time to bootstrapping one of my business ideas while living off of savings. It's too soon for me to say if it has business potential but I feel like it could have a good chance of becoming a legitimate online business given the right execution. Worst case scenario, I will learn many new skills and connect with other like-minded folks, so even in case of failure it would still make for a positive ROI. I'm HAPPY to trade time + savings for just that.

My next immediate milestone is learning how to build auto-scaling website architectures (which is something that's currently not in my software development wheelhouse), so if anyone has recommendations on that I'd be interested in hearing some pointers!

I'm stoked to be here, happy to help other fellow entrepreneurs by answering tech questions or however else I can.

Best,

Never use a job as an excuse not to build new skills. I taught myself software engineering while working in consulting (just mean almost no sleep).
 

iamonlyanegg

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Never use a job as an excuse not to build new skills. I taught myself software engineering while working in consulting (just mean almost no sleep).

I never used it as an excuse. I've actually been reading non-stop and developing several other skills while still working for someone else. In fact, that's what ultimately made my job unfulfilling: the more I learned the more underappreciated I felt.

Also, another major point is that getting a regular paycheck gives one a sense of comfort that takes away from one's spiritual power to actually make shit happen. I purposefully designed my life to be free to make decisions like these (no kids, no wife, no debt of any kind, etc) so I'm not coming from a place of fear, I'm excited about the upside instead.
 

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Welcome!

My next immediate milestone is learning how to build auto-scaling website architectures

Do you need this for your idea right now? It not too hard to learn Kubernetes with autoscaling definitions. Took me a few days to get a cluster up and running on DigitalOcean.

It's too soon for me to say if it has business potential but I feel like it could have a good chance of becoming a legitimate online business given the right execution

Whats the minimum amount of work you can do to validate your idea today?
 
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lavix

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Indeed welcome! Another developer here :)

Tell us more of what you are doing right now to achieve your goals, we all want you to succeed!

Whats the minimum amount of work you can do to validate your idea today?

I agree so much! You need to believe that you can do it. Ideally even have a clear step by step plan to achieving it. Even writing down BIG goals is better than nothing. I like that you have a milestone set. However have you thought about it deeply? Is learning a new skill what you need right now? I am saying this because it is very important that you hit the ground running, it's very easy to get distracted when you are not working! The more the idea excites you the better. Remind yourself of your goals every day.
 

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My next immediate milestone is learning how to build auto-scaling website architectures (which is something that's currently not in my software development wheelhouse), so if anyone has recommendations on that I'd be interested in hearing some pointers!
Why do you want to learn that? I ask because it sounds like you're trying to solve a problem you don't have yet. I could be wrong, and you might be trying to implement this for someone that is paying you $100,000 for the service, or something like that. But, having been there, done that, I've found its best to solve the problems that are right in front of you, with an eye towards how you will solve the next set of them as you ramp.

By the time that you're at a spot where you need to worry about auto-scaling website architectures, you will likely be able to hire someone that is already an expert in this.

In my app I'm currently developing, I'm planning for the first 100 users. Our architecture will be able to handle that as-is. We will also be able to handle 1000 paying users, though some of the things we will be doing at that point, with the current design, will be manual and cumbersome. We will have the cashflow at 1000 users, though, to add new features to our software without problem.

What I'm suggesting is that you map out a realistic ramp for your product. Then, answer the question, "What problems will you have that have to be solved at each stage?" Then, solve those problems only when you're at that stage.

Its fine to anticipate what you'll need to do when you reach XX number of users, just don't build for that until its the right time to do so. You may end up changing direction well before that, anyway.
 

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Being a specialized developer in the bay area means you are getting paid 200k per year at least, if so, put that money to work :hilarious:

We tend to spend huge amounts of time learning the technical side of things just because it's fun. I'd suggest not to dwell on such things if you want to become an entrepreneur.

We don't need to learn yet another language or stack at this stage. It's even better if you can hire people to do parts of the project. Work on the core of your idea and try to get feedback/validation as soon as possible.

I'm still a code monkey but that is what I have been forcing myself to do from reading countless experiences here.
 
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Andy Black

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Similar to what others have said: “Overthinking is the art of solving problems you don’t have.”

You’re a trained engineer. Your job has been to anticipate and solve problems you don’t have. It’s going to be a big Achilles heel for you if you let it.

As an entrepreneur you’ll probably do better being agile and solving the problem that’s right in front of you.


“Learning” isn’t a great milestone.

“The market doesn’t pay for input.” (Blaise Brosnan)


Assume you already know enough.

What will you do to make a sale this week?
 

Jon L

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Similar to what others have said: “Overthinking is the art of solving problems you don’t have.”

You’re a trained engineer. Your job has been to anticipate and solve problems you don’t have. It’s going to be a big Achilles heel for you if you let it.

As an entrepreneur you’ll probably do better being agile and solving the problem that’s right in front of you.


“Learning” isn’t a great milestone.

“The market doesn’t pay for input.” (Blaise Brosnan)


Assume you already know enough.

What will you do to make a sale this week?
The term 'engineer' made me think of something I've heard a lot of engineers say over the years. Something to the effect of, 'this damned technical debt...if only we made better decisions back then, we'd be able to ...'

The temptation would be to start a company where there is never any technical debt.

That's a good way to go bankrupt.

Your job now is to create technical debt.

Edit:

I don't know if this way of thinking would be helpful, but you could do the following

  1. Pick a timeframe that you think is reasonable to launch your company in. NOT how long you think it would take you to program, but more along the lines of 'This particular idea is worth X number of months of my life.' (because that's what its about to become). I'd suggest that you try to find a way to accomplish what you're trying to do within just a few months.
  2. Then, take that time (let's say 4 months), and map out each feature / subsystem on a spreadsheet. Assign a particular number of days to each of those. Together, they should add up to 4 months.
  3. Finally, start coding. Do what is necessary to make the feature you're working on functional within the time limit.
I know that some things in programming take 1/10 the time you expected, and other things can take much longer. The point is to go through this thought process so you don't over-engineer. If you have 5 days allocated for a feature, and you start getting all excited about doing it the 'right' way, but that right way has never, in the history of the world, been done in anything less than 3 months, then you don't get to do it. (at least not yet)

You'll end up doing things like hard-coding sql statements in your code. That is FINE. Does it work? is the only question that matters when you're trying to start a company.
 
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iamonlyanegg

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Welcome!

Do you need this for your idea right now? It not too hard to learn Kubernetes with autoscaling definitions. Took me a few days to get a cluster up and running on DigitalOcean.

Whats the minimum amount of work you can do to validate your idea today?

Yep, I do need it for my startup idea. The business model depends on getting a critical mass of active users on the platform, I need to put that infra in place via Kub/Docker/AWS/etc.

The MVP is still TBD at the moment. What I've been prioritizing so far (after coming up with the idea) is drafting a design document to be able to have a more clear idea of what the business is, what problem I'm trying to solve, what potential revenue streams I could leverage, etc. Now I'm writing up a user survey to validate the business hypothesis to make sure the problem I want to solve is an actual pain point for my users. If that's positive I'll be working on implementing a working MVP, putting it out there and getting traction with it. Which will require marketing, UX design and several other things.

PS: I'm digging your avatar! ;-)
 
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iamonlyanegg

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Indeed welcome! Another developer here :)

Tell us more of what you are doing right now to achieve your goals, we all want you to succeed!

I agree so much! You need to believe that you can do it. Ideally even have a clear step by step plan to achieving it. Even writing down BIG goals is better than nothing. I like that you have a milestone set. However have you thought about it deeply? Is learning a new skill what you need right now? I am saying this because it is very important that you hit the ground running, it's very easy to get distracted when you are not working! The more the idea excites you the better. Remind yourself of your goals every day.

It's very true that it's super hard to stay on track when there's no boss around to tell you what to work on next (and when). I deeply believe that one's main limiting factor is one's own willpower and discipline, which is a very scary realization. In other words, you can blame nobody but yourself for your failures. So yeah, staying on track is very present in my mind every day.

Thanks for your kind words!
 

iamonlyanegg

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Why do you want to learn that? I ask because it sounds like you're trying to solve a problem you don't have yet. I could be wrong, and you might be trying to implement this for someone that is paying you $100,000 for the service, or something like that. But, having been there, done that, I've found its best to solve the problems that are right in front of you, with an eye towards how you will solve the next set of them as you ramp.

By the time that you're at a spot where you need to worry about auto-scaling website architectures, you will likely be able to hire someone that is already an expert in this.

In my app I'm currently developing, I'm planning for the first 100 users. Our architecture will be able to handle that as-is. We will also be able to handle 1000 paying users, though some of the things we will be doing at that point, with the current design, will be manual and cumbersome. We will have the cashflow at 1000 users, though, to add new features to our software without problem.

What I'm suggesting is that you map out a realistic ramp for your product. Then, answer the question, "What problems will you have that have to be solved at each stage?" Then, solve those problems only when you're at that stage.

Its fine to anticipate what you'll need to do when you reach XX number of users, just don't build for that until its the right time to do so. You may end up changing direction well before that, anyway.
Excellent advice, thanks for this. I completely agree, I guess the way I see it is that I will have to implement the backend of the service anyway, so if the auto-scaling option is only marginally more complex then I figure I can go for the better solution for almost the same amount of work. That said, I'll definitely be evaluating cost-benefit as I go and avoid investing a ton of time on something that I might not need. That's why I'm first focusing on design documents, user surveys, etc. before I type a single line of code.
 

Jon L

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Excellent advice, thanks for this. I completely agree, I guess the way I see it is that I will have to implement the backend of the service anyway, so if the auto-scaling option is only marginally more complex then I figure I can go for the better solution for almost the same amount of work. That said, I'll definitely be evaluating cost-benefit as I go and avoid investing a ton of time on something that I might not need. That's why I'm first focusing on design documents, user surveys, etc. before I type a single line of code.
excellent. Yeah if it is only a little bit extra work, definitely worth it (as long as it doesn't complicate other stuff).

You're smart to not write code until you have design documents put together. Projects rarely fail because of technical reasons (I'm sure you know this...more saying this for other people reading this thread). They fail because the developers built the wrong product, for the wrong market, in the wrong way, etc.
 
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iamonlyanegg

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Similar to what others have said: “Overthinking is the art of solving problems you don’t have.”

You’re a trained engineer. Your job has been to anticipate and solve problems you don’t have. It’s going to be a big Achilles heel for you if you let it.

As an entrepreneur you’ll probably do better being agile and solving the problem that’s right in front of you.


“Learning” isn’t a great milestone.

“The market doesn’t pay for input.” (Blaise Brosnan)


Assume you already know enough.

What will you do to make a sale this week?

All very true. In this case making a sale right away would be tough since monetizing this idea requires reaching a critical mass of active users (much like Facebook or any other service where the value of the service is derived from the traffic they generate).

Very good points though, I really appreciate the feedback.
 

iamonlyanegg

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excellent. Yeah if it is only a little bit extra work, definitely worth it (as long as it doesn't complicate other stuff).

You're smart to not write code until you have design documents put together. Projects rarely fail because of technical reasons (I'm sure you know this...more saying this for other people reading this thread). They fail because the developers built the wrong product, for the wrong market, in the wrong way, etc.

Absolutely. For what it's worth, writing down the design/requirements is helping me clarify my ideas A LOT. A quote from Tim Ferris that stuck with me comes to mind: "writing is thinking on paper." And I couldn't agree more. Writing things down helps not only with defining the problem better but it also helps with another very important part which is COMMUNICATING ideas to others. Which if things go well, there should be a lot of.

Again, thanks so much for the feedback everyone, I'll circle back with progress in the near future.

Best,
 

Andy Black

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All very true. In this case making a sale right away would be tough since monetizing this idea requires reaching a critical mass of active users (much like Facebook or any other service where the value of the service is derived from the traffic they generate).

Very good points though, I really appreciate the feedback.
So you’re after the network effect? I worked for a startup also trying to create a network effect. They had a team of software engineers and (I heard) burnt through €40m in funding.

It didn’t work.

I believe because they were busy “building stuff”.

My thoughts on this are:
1) Who are you trying to help? Can you help them without building whatever you’re trying to build?

2) Product-Founder Fit? I read “The 7-Day Startup”. One of the concepts I really liked was Product-Founder Fit. What business (startup) can *you* launch in 7 days? (I prefer “What can you do to get a sale in 7 days?”). The thinking is that if you can’t launch or make a sale in 7 days then maybe it’s not the right business for *you* at this moment?

If you had a gun to your head then what would you launch now? Maybe even something that could eventually become what your vision is? Can you help the same folks you intend helping later?
 
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iamonlyanegg

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So you’re after the network effect? I worked for a startup also trying to create a network effect. They had a team of software engineers and (I heard) burnt through €40m in funding.

It didn’t work.

I believe because they were busy “building stuff”.

My thoughts on this are:
1) Who are you trying to help? Can you help them without building whatever you’re trying to build?

2) Product-Founder Fit? I read “The 7-Day Startup”. One of the concepts I really liked was Product-Founder Fit. What business (startup) can *you* launch in 7 days? (I prefer “What can you do to get a sale in 7 days?”). The thinking is that if you can’t launch or make a sale in 7 days then maybe it’s not the right business for *you* at this moment?

If you had a gun to your head then what would you launch now? Maybe even something that could eventually become what your vision is? Can you help the same folks you intend helping later?

These are all great, actionable points, I'm giving all this some serious thought. For sure it would be possible to come up with other, more immediately-monetizable value-adding services for the same demographic.

Thank you
 

Andy Black

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For sure it would be possible to come up with other, more immediately-monetizable value-adding services for the same demographic.
Exactly.

What’s stopping you?
 

iamonlyanegg

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Exactly.

What’s stopping you?

To answer your question, I think what's stopping me from pursuing other more immediately-monetizable ideas is that I'm choosing to work on ideas that have the potential to scale big, as opposed to ones where I could turn a profit quicker but be stuck with an unscalable business. I'm sure as my business acumen grows over the years I'll see flaws and improvements on my current thought process but thus far it's the best I can come up with.

I'll be sure to pick up the book you recommended, appreciate your pointers brother.
 
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Andy Black

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To answer your question, I think what's stopping me from pursuing other more immediately-monetizable ideas is that I'm choosing to work on ideas that have the potential to scale big, as opposed to ones where I could turn a profit quicker but be stuck with an unscalable business. I'm sure as my business acumen grows over the years I'll see flaws and improvements on my current thought process but thus far it's the best I can come up with.

I'll be sure to pick up the book you recommended, appreciate your pointers brother.
I get it.. I do think it’s better to start and figure it out as you go along.

Say you think a marketplace for Blacksmiths is super scalable and your vision (like MJ’s limos.com). Instead of building the marketplace, go get a Blacksmith client and help them with whatever service the marketplace would provide if it was built.

This thread might help:
 

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Welcome to the forum, it is great to read your thread! I am sure you are very talented and will do great in entrepreneurship.

As a chemical engineer myself, I can only agree to what Andy Black said.

We tend to overthink things way too much and want to be 200% prepared for anything thats ahead. Forget about all of that....

If you are starting from 0, your only goal is to get a MVP (minimum viable product) ASAP and throw it into the market. Depending on the feedback: Act, Assess and Adjust.

If you realize the market is asking for features which you cant implement with your current programming skills, then look for new knowledge, otherwise dont waste any more time acquiring knowledge you might never use!
 

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Welcome to the forum, it is great to read your thread! I am sure you are very talented and will do great in entrepreneurship.

As a chemical engineer myself, I can only agree to what Andy Black said.

We tend to overthink things way too much and want to be 200% prepared for anything thats ahead. Forget about all of that....

If you are starting from 0, your only goal is to get a MVP (minimum viable product) ASAP and throw it into the market. Depending on the feedback: Act, Assess and Adjust.

If you realize the market is asking for features which you cant implement with your current programming skills, then look for new knowledge, otherwise dont waste any more time acquiring knowledge you might never use!

Makes total sense. It's really useful to hear (read?) this. It kind of makes you realize that building things "the right way" becomes a form of procrastination in itself.
 
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iamonlyanegg

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I get it.. I do think it’s better to start and figure it out as you go along.

Say you think a marketplace for Blacksmiths is super scalable and your vision (like MJ’s limos.com). Instead of building the marketplace, go get a Blacksmith client and help them with whatever service the marketplace would provide if it was built.

This thread might help:

Great post. You made me re-think things in much more realistic terms. Great stuff @Andy Black.
 

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I just finished reading 7 Day Startup and got some useful perspective on launching fast and early. I'll circle back with updates soon. Thank you all for the feedback, much appreciated.
 

Andy Black

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I just finished reading 7 Day Startup and got some useful perspective on launching fast and early. I'll circle back with updates soon. Thank you all for the feedback, much appreciated.
I like to change up his question and ask “How can I make a sale in 7 days?”

If you can’t with your current product then consider product-founder fit. Maybe pick a simpler product, one that YOU can make a sale of within 7 days.
 
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