Can you explain the start-up lifestyle?

[Anonymous]

Anonymous wrote:Angel investors.

The other night my 12yo announced at dinner that he'd just gotten "an angel investor." When I looked at him askew, he said he was playing an investing video game. When I asked how he'd said angel (after hard work? after an invention?) my son shrugged and said, "they just appear."

So, OP I guess these angel investors just appear out of thin air.

[Anonymous]

Anonymous wrote:

Yes people, you are right. All people with money are stupid. And they just throw their money at other people. And they are broke right away. And no one works for their money. And they all have really easy jobs that a monkey could do. You happy now?

What a pitiful bunch.

My best friend is loaded (loaded) from a combination of inheritances and starting her own company (that a monkey and 99% of the population does not do - she's that smart, not just text book smart, but brilliant in other ways that make her successful).

If you ask her about her financials, she'll either laugh in your face, or tell you bad information you are sure to perpetuate to your suburban neighborhood pool cronies. And we'll have a good laugh, because she would never even tell me that kind of information with any kind of accuracy (understandably).

OP, worry about yourself a little more.

We got it, the wealthy are that way because surely God has favored them. they are just better people and we should not question anything they do.

[Anonymous]

I guess I "am" one of these people and I'm definitely building and selling something as esoteric as colored bandages. (DW told me I should post on this thread)

Background? Great b-school, nearing 40, 10 years in other start ups as SVP, COO and then a truly miserable, horrible, soul-destroying experience in a larger corporate environment as a senior executive drove me out. Traveled 100k miles in 6 months, decided that I'd rather see my kids grow up than make CEO.

How am I funded? I'm the "operational" member of a partnership, my partners, essentially angels contribute capital and time (when they have it) aligned with their comparative expertise (law, sales, domain knowledge). I also run 2-3 other small businesses that share some overhead.

How much do I work? 60+ hours a week, but from home which helps.

How do I survive? It helps that my DW is willing to put up with some pain while I build my brand/company. I do pull a *small* stipend from my partners and also do start-up consulting for about $20k/yr

What is the goal? This is what a bunch of posters are missing- as an early stage start-up executive my income ranged from $120-$150k; as a corporate guy it was $210k (including a bonus that never came)- that is not a whole lot vs the opportunity presented even by bandages. For kicks I looked up "bandages" on Amazon using some proprietary data feeds- this product, http://www.amazon.com/dp/B00E8JTW8U a silly box full of gauze that cost the maker maybe $2, sells $17K/ month on amazon alone. Figure a 50% gross margin on it (probably higher) and bandage guy is taking $100k/year on that product alone. Even better, once it's set up, Mr. Bandage is on autopilot and moves on to the next product. Three or four of those, or more likely 10 base hits, and you blow my old salary completely out of the water and work from whereever you want. This guy has like 40 pdts- probably makes $50-60K/month. Laugh all you want.

My goal is not to sell a company for billions (although I am building a salable brand), my goal is to as nearly as possible replicate my previous income while having nearly unlimited flexibility and it's totally doable. Seems like a good plan to me. Looks like I have some bandages to buy

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Yes people, you are right. All people with money are stupid. And they just throw their money at other people. And they are broke right away. And no one works for their money. And they all have really easy jobs that a monkey could do. You happy now?

What a pitiful bunch.

My best friend is loaded (loaded) from a combination of inheritances and starting her own company (that a monkey and 99% of the population does not do - she's that smart, not just text book smart, but brilliant in other ways that make her successful).

If you ask her about her financials, she'll either laugh in your face, or tell you bad information you are sure to perpetuate to your suburban neighborhood pool cronies. And we'll have a good laugh, because she would never even tell me that kind of information with any kind of accuracy (understandably).

OP, worry about yourself a little more.

She was able to succeed b/c she was able to take risks that most people who must support themselves and have no safety net cannot. That's the secret sauce to start-up success; there are plenty of brillant people with good ideas but unable to take the flyer if it doesn't pan out b/c it would literally put them on the street.

Case in point: Dan Snyder. Several failed businesses until one hit it big.

[Anonymous]

Anonymous wrote:There's a bubble brewing. He probably has investors. It'll pop soon.

For serious. Friends in Silicon Valley guarantee it.

[Anonymous]

Anonymous wrote:I guess I "am" one of these people and I'm definitely building and selling something as esoteric as colored bandages. (DW told me I should post on this thread)

Background? Great b-school, nearing 40, 10 years in other start ups as SVP, COO and then a truly miserable, horrible, soul-destroying experience in a larger corporate environment as a senior executive drove me out. Traveled 100k miles in 6 months, decided that I'd rather see my kids grow up than make CEO.

How am I funded? I'm the "operational" member of a partnership, my partners, essentially angels contribute capital and time (when they have it) aligned with their comparative expertise (law, sales, domain knowledge). I also run 2-3 other small businesses that share some overhead.

How much do I work? 60+ hours a week, but from home which helps.

How do I survive? It helps that my DW is willing to put up with some pain while I build my brand/company. I do pull a *small* stipend from my partners and also do start-up consulting for about $20k/yr

What is the goal? This is what a bunch of posters are missing- as an early stage start-up executive my income ranged from $120-$150k; as a corporate guy it was $210k (including a bonus that never came)- that is not a whole lot vs the opportunity presented even by bandages. For kicks I looked up "bandages" on Amazon using some proprietary data feeds- this product, http://www.amazon.com/dp/B00E8JTW8U a silly box full of gauze that cost the maker maybe $2, sells $17K/ month on amazon alone. Figure a 50% gross margin on it (probably higher) and bandage guy is taking $100k/year on that product alone. Even better, once it's set up, Mr. Bandage is on autopilot and moves on to the next product. Three or four of those, or more likely 10 base hits, and you blow my old salary completely out of the water and work from whereever you want. This guy has like 40 pdts- probably makes $50-60K/month. Laugh all you want.

My goal is not to sell a company for billions (although I am building a salable brand), my goal is to as nearly as possible replicate my previous income while having nearly unlimited flexibility and it's totally doable. Seems like a good plan to me. Looks like I have some bandages to buy

Thanks for taking the time to write and educate these folks. I just shook my head and moved on. Passive income, working from home and being your own boss, it doesn't get any better than this.

[Anonymous]

yes, thanks for posting.

[Anonymous]

Anonymous wrote:
Thanks for taking the time to write and educate these folks. I just shook my head and moved on. Passive income, working from home and being your own boss, it doesn't get any better than this.

I *do* understand why people don't get it. It's really far from sexy and really far from what most type-a's associate with success. Heck, b-school me would have hit me with a hammer for suggesting such a pedestrian career... today me would have told b-school me to save the $100k. It can also be awkward to explain in the inevitable "what do you do" DC conversations... DW has taken to implying (but not actually saying) that I work for DARPA and simply can't talk about what I do- around here, people leave you alone once they *think* that you are high security.