I wrote 2 posts so far about my startup journey. The first one was the contract between my wife and I and the second one was about funding my startup. Basically one is about family and the other about money. There is a third vertex to this triangle – Time. Time to actually put into my startup to move it forward.
I still have my day job but I have worked on my startup every single day for the past 30 or so days. Basically my schedule has been: gym (every other day) > day job (8 hours) > fishbowl (4 hours) > home (2 hours) > sleep (8 hours). I take Friday night and only put in a few hours on Saturday.
Or in other words my schedule is: money > time > family – not in order of priority of course :)
Money, Time and Family – the early startup triangle of death.
To move my startup forward, I need to put in a lot of time to get the prototype up and running and build the foundation for a great company and product.
I need money to pay my bills and fund my startup. Whatever that source of the money is – be it investors or consulting work, it will take time to acquire.
I can probably have more time AND money but then I will have to give up spending time with my wife, family and friends. This is something I will never compromise on. I would rather fail and be broke than compromise on this aspect of my life. That’s a price, I will never pay and will always be an easy decision to make.
Choice #1: Put time into startup, spend time with family but have no money
Choice #2: Get money, spend time with family and have no time to work on my startup – this is probably the most common choice and is the reason a lot of people have jobs and only dream of one day starting their own thing.
Choice #3: Get money, work on startup and in the process lose your friends, family and probably soul too. This is a no-go choice for me.
I choose #1 because I am passionate about my startup and love my family and I don’t know how or why or where or when but I have the sense that money will somehow be provided. God, the universe, luck (or perhaps a bank heist) or something and/or someone else will provide.
Risk it all because it ALL means nothing. Like someone said in the startup playbook, if you live in a first-world country, you owe it to yourself to take risks. In the grand scheme of things NONE of these risks are life threatening. Losing/downsizing your house, damaging your credit score, losing your car, inability to buy organic food, inability to take luxurious vacations and so on are NOT LIFE threatening, they are merely inconvenient. You will live through all of them.