The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

INTRO Young software dev seeking to escape slow lane dogma

ThatAustrianGuy

New Contributor
I've Read UNSCRIPTED
May 2, 2018
4
7
16
It has actually been a while since I've created an account here, but I couldn't bring myself to shatter the perception of who I was back then, so I never even wrote an intrudoction.

But let's start from the top...

I'm a 24 year old software developer living in beautiful Salzburg, Austria and I am currently employed by a small startup.
Here's the thing, I absolutely enjoy my job as a developer. I enjoy building a code architecture that provides some sort of value. I love visualizing all the small pieces of code, classes, services... perfectly fitting together. And the live of a software dev is good, I make an above average salary (by quite a margin), I can work from home (or wherever I have an internet connection) and I have some level of autonomy in how I want to solve a specific problem.
But that's exactly how the slow lane get's you....because over the past few weeks I've noticed a deep, very primal, instinctual urge that tells me that I simply HAVE TO strike out on my own, take some risks, put some skin in my game and take control.

Of course, apart from that primal drive, there are other reasons why being a normie employee for the rest of my life simply won't do.

The selfish ones (because we all have them):
- I play the guitar and I definitely want to create and sell my own music, however I am not willing to make the necessary sacrifices to turn that into a carreer (mainly a grueling touring schedule and the fear of corrupting my art for money)
- I train strongman and some friends and I every now and then play with the idea of buying or renting a warehouse and turning it into our own private gym
- I'm not really into big houses and fast cars but I don't want to worry about money when I decide to buy something for pleasure and entertainment (guitar stuff is also pretty expensive)
- I ABSOLUTELY HATE TO WORK ON A TIME BASIS
...whether it is being billed hourly or having to spend a set amount of hours working. It tears me apart because it takes the focus away from creating value to "doing time".
And it's also f'in dumb since (especially as a developer) not all hours are spent equally. Pareto's principle should come to mind here.
I know, I know, it is only a convenient proxy measure for work but it is still quite a pet peeve of mine.

Now to the selfless ones (the real meat and potatoes here)
- My parents deserve to not worry about money
While my parents are far from poor they certainly aren't rich. Plus here in Austria we have a nationalized, centralized pension system as the default retirement route that is (for those exact reasons) due to collapse at some point. It might outlive my parents but why take the gamble.
- My future family and my kids' future families
While i don't want to spoil my future kids with luxury drivel, I want them to be financially secure in case some unforseen bad things happen. My death or inability to work for money should never endanger the security and well-being of my family.
- Should one of my friends be in dire straits because of divorce, failed busines or a lost job, i wanna be able to catch them and get them back on their feet.

Paths to wealth and freedom? This is the part where I (and probably everyone else comming to this forum for the first time) still struggle.
Yes, it is the ol' reliable "Where do I start?" that still keeps me parked.
I do have some roads in mind but I'm still VERY uncertain about it all.

- The developer rockstar route
This is the one I've been falling back to even after I've read Unscripted and TMF. It basically consists of becoming an excellent software dev (which I am absolutely convinced I can), selling my services as a freelancer and using the money to fund a money tree and potential other business endeavours. This one on its own probably won't get me big and legendary money. However, it has the potential to open up new lanes down the road. It might be a great starting point to earn some EXP in the business world and I also know someone who is a freelance dev who could teach me the basics of the business side. It could also open the road to SaaS opportunities if I see a need or a partnership where I take care of the technical side of things. Again, this could be a good starting point, even if just for the experience points and I'd very much appreciate any input of guys and gals who took similar routes or considered it.
And yes, there is a huge demand for software developers in the current austrian economy (however, a lot of companies seem reluctant to hiring freelancers)

- SaaS or software product
Well, this one isn't all that surprising. However, I only consider it because I can take care of a lot of stuff myself, not because I already found a need. So, that's not the best premise to start a business. When it comes to this route I'd prefer to take the first one and keep my eyes open for product and SaaS opportunities.

-Real Estate
Yes, plain old real estate. There is always a need for housing and I'm fascinated by the required hustle to make this one work. However, there are already a lot of real estate agencies out there and I'm a bit worried about the financial risk involved.

Anyways, that should be enough for a first intruduction. I'd really appreciate any input and feedback and I hope I can share some helpful advice and expereince of my own once I'm further down my path.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Zarathustra

Contributor
Read Millionaire Fastlane
Aug 29, 2017
46
62
115
21
Chicago
Welcome man, I'm 21 and actually wish I was more so in your position than the one I'm in now (exited an internet marketing business and am sitting on a nest egg, not sure what further to do). You have a ton of software development knowledge under your belt.

Question: Have you considered creating your own software and selling it? There's so many different software needs/niches online, it's insane.
 

srodrigo

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Sep 11, 2018
279
356
184
The first half of your post is like if I was writing it myself, word by word. Enjoying our job as software devs while getting a good salary is a magnifique way of getting sucked into the slowlane. And my forecast is that past our 40's-50's, not even being a great developer will save us from being unemployed (hope to be wrong). The 9-5 Mon-Fri drives me nuts too, as if we were some sort of factory worker.

The only thing I disagree with is the "rockstar" path to wealth. Even if you live in a city/country where you can make 600+ euros/day (given you get 3-6 months contracts and work every day - I wouldn't bother going on Upwork and having to find 10 hours jobs), it's probably going to be an expensive place to live, so it would still be slowlane. Example: London, where making £500+/day (6 months contracts) as a contractor is pretty common, but living there it's really expensive, and you'd still struggle to save more than £40k/year; not bad compared to most jobs, and gives you the choice of taking time of between contracts, but still slowlane.
 

LittleWolfie

Bronze Contributor
Speedway Pass
Jun 28, 2018
862
439
162
Holbeach Hurn
Wow, salzburg is beautiful, looks a little Bravarian to me.

.

Question: Have you considered creating your own software and selling it? There's so many different software needs/niches online, it's insane.
The guy posted that he did.

It could also open the road to SaaS opportunities if I see a need or a partnership where I take care of the technical side of things.

- SaaS or software product
Well, this one isn't all that surprising. However, I only consider it because I can take care of a lot of stuff myself, not because I already found a need.
Just needs to find an unaddressed need and go for it.

@ThatAustrianGuy what about buying a saas and just hiring someome to manage the business side?

Have you asked the founder of your startup about common problems?(and budgets?)
 
OP
OP
T

ThatAustrianGuy

New Contributor
I've Read UNSCRIPTED
May 2, 2018
4
7
16
Thanks for all the replies!

Question: Have you considered creating your own software and selling it? There's so many different software needs/niches online, it's insane.
Yes, absolutely! I just gotta make sure to keep my eyes open for stuff that people actually need. Not sure how to go about that yet.

The only thing I disagree with is the "rockstar" path to wealth. Even if you live in a city/country where you can make 600+ euros/day (given you get 3-6 months contracts and work every day - I wouldn't bother going on Upwork and having to find 10 hours jobs), it's probably going to be an expensive place to live, so it would still be slowlane. Example: London, where making £500+/day (6 months contracts) as a contractor is pretty common, but living there it's really expensive, and you'd still struggle to save more than £40k/year; not bad compared to most jobs, and gives you the choice of taking time of between contracts, but still slowlane.
Fully agreed. This path on its own would at best be an advanced slowlane. My thinking was that it could open up business opportunities down the lane and offer some newbie business EXP. Thanks for the elaborate insight, though.

Just needs to find an unaddressed need and go for it.
Yeah, I'll have to keep my eyes peeled.

@ThatAustrianGuy what about buying a saas and just hiring someome to manage the business side?
No, I haven't thought about that at all yet. Sounds difficult but could be interesting. I'll have a look into it.

Have you asked the founder of your startup about common problems?(and budgets?)
No, not yet, but he could definitely have some great insight, since he already sold a company.
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.




Don't like ads? Remove them while supporting the forum. Subscribe to become an INSIDER.

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom