Posts Tagged ‘determination’

Bootstrap Rule of Thumb

August 2nd, 2011

Never buy what you can rent

Never rent what you can barter for

Never barter for what you can borrow

Never borrow what you can get for free

Auditions

December 21st, 2009

 

I was reading through Paul Graham’s “18 Mistakes that Kill Start-ups” essay and found in note #13 an interesting idea and a possible answer to my previous post‘s quandry.

“[13] So how do you know whether you’re in the category of people who should quit their day job, or the presumably larger one who shouldn’t? I got to the point of saying that this was hard to judge for yourself and that you should seek outside advice, before realizing that that’s what we do. We think of ourselves as investors, but viewed from the other direction Y Combinator is a service for advising people whether or not to quit their day job. We could be mistaken, and no doubt often are, but we do at least bet money on our conclusions.”

For those that aren’t familiar with Y Combinator, it is a group that invests early in start-ups and puts them through a kind of boot camp to get them up to speed. Angel and early stage investors can offer an kind of audition of sorts for those of us trying to decide whether to do it full time or not.

 So write up a business plan and submit it to your nearest business plan competition-see if it goes anywhere. If it doesn’t get selected to win it all it doesn’t mean it is a bad idea and you won’t be successful but it can provide you with opposing pespectives that test your level of determination. Maybe even put a chip on your shoulder to prove some folks wrong.

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