In my first post to this blog ("The Six Month Startup"), I talked about doing some consulting on the side to help pay the bills while I got the tech startup and six-month startup off the ground. Yesterday, I met with a former colleague who now has her own consulting business about my plan.
The good news: It's very easy to get started -- basically hanging out your shingle (including putting up a website), mentioning your services to everyone in your network, and starting the sales process with your first leads.
The bad news: Getting into consulting will suck energy from the startups, even if I am strict in my plan to allot just 10 hours per week to consulting. The reason: There are a lot of follow-up and back-office tasks related to marketing, sales cycles, collection, accounting, etc. that not only take up a lot of time, but require attention throughout the day, which distracts from anything else that's going on and reduces the paid consulting hours out of the planned 10-hour weekly allotment.
My colleague asked me: Is it worth it?
I didn't have to consider the answer. No, it's not. I want both startups to have a real shot at success and get the right start in life, and if it means pulling the belt a little tighter, so be it.
Showing posts with label iteration. Show all posts
Showing posts with label iteration. Show all posts
Thursday, August 11, 2011
Monday, August 8, 2011
The six-month startup
A little over two months ago I finished business school. Since then, a lot of friends, classmates, former colleagues and family members have been asking "what's next?"
The short answer: Startups.
A slightly longer answer: I am working on two startup ventures, and seeking some consulting work on the side to help pay the bills.
Both of the startups are at an early stage of development. One of them, which I will simply call the “tech startup,” won’t turn into a full-time endeavor until early 2012 owing to prior commitments among the team. But we have already begun work, and are thick in the ideation phase. The ideas are coming fast and furious, and we are constantly iterating upon them.
Then there is the other venture, which I am calling the six-month startup. Unlike the tech startup, the six-month startup is not software. It is centered around a real-world product, which myself and another partner hope to design, build and launch in a six-month period. Technology will come into play, but during design, marketing and order processing, as opposed to the operation of the product (there are no embedded software or other electronics involved). Our idea was hatched in mid-July, and we set a goal of getting the product to market by Christmas. We already have a good idea of the product features and have a rudimentary prototype; now we have to decide on materials and work out the many details relating to manufacturing. I won’t talk about the product just yet, but will talk about some of the learning experiences (and difficulties) as the project progresses.
The idea of building and launching a product in a short period of time is not new to the startup world. “Lean” development processes have been a mantra since the beginning of the Web and perhaps even earlier. It’s also possible to develop physical goods on a quick prototyping/iteration cycle. But, as I’ve found out in the last few weeks, there are a lot of of obstacles to getting a prototype built using the same materials that will eventually appear in the finished product.
Is it possible to simultaneously get two startups and a sideline consulting business off the ground and on a path to success? Probably.
Am I naive to think that we can get a product to market in six months? Maybe.
But I have a belief in myself, my partners, and our ideas. Further, I refuse to accept conventional assumptions about what’s possible until I have tried them myself.
Lastly, while validation of our ideas and building successful businesses are the ultimate goals, I acknowledge that I may fail … but through failure I will learn and iterate for success the next time around.
The short answer: Startups.
A slightly longer answer: I am working on two startup ventures, and seeking some consulting work on the side to help pay the bills.
Both of the startups are at an early stage of development. One of them, which I will simply call the “tech startup,” won’t turn into a full-time endeavor until early 2012 owing to prior commitments among the team. But we have already begun work, and are thick in the ideation phase. The ideas are coming fast and furious, and we are constantly iterating upon them.
Then there is the other venture, which I am calling the six-month startup. Unlike the tech startup, the six-month startup is not software. It is centered around a real-world product, which myself and another partner hope to design, build and launch in a six-month period. Technology will come into play, but during design, marketing and order processing, as opposed to the operation of the product (there are no embedded software or other electronics involved). Our idea was hatched in mid-July, and we set a goal of getting the product to market by Christmas. We already have a good idea of the product features and have a rudimentary prototype; now we have to decide on materials and work out the many details relating to manufacturing. I won’t talk about the product just yet, but will talk about some of the learning experiences (and difficulties) as the project progresses.
The idea of building and launching a product in a short period of time is not new to the startup world. “Lean” development processes have been a mantra since the beginning of the Web and perhaps even earlier. It’s also possible to develop physical goods on a quick prototyping/iteration cycle. But, as I’ve found out in the last few weeks, there are a lot of of obstacles to getting a prototype built using the same materials that will eventually appear in the finished product.
Is it possible to simultaneously get two startups and a sideline consulting business off the ground and on a path to success? Probably.
Am I naive to think that we can get a product to market in six months? Maybe.
But I have a belief in myself, my partners, and our ideas. Further, I refuse to accept conventional assumptions about what’s possible until I have tried them myself.
Lastly, while validation of our ideas and building successful businesses are the ultimate goals, I acknowledge that I may fail … but through failure I will learn and iterate for success the next time around.
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