I Want to Make Tons of Stuff, but I'm Not Sure I Want to Start Another Business...
So... A few of you who've read my other posts / comments may be aware that I had another (non-technical) business that failed. I ran it from 2008 - 2016. I learned a lot from the experience. I was in my early 20's when I started it and my early 30's when I wound it down. Since then I got a job as a web developer. I also went back to school and will be graduating this Saturday with a bachelor's in management.
I feel like most people here are asking "What do I do if I don't have an idea to get started?" I guess my position is unique... I have tons of ideas. I'm just not sure I want to start another business.
For the eight years I worked at my business I was relentless. Every waking moment was spent working on some aspect of it. I never took a vacation, never took a day off. I worked 16 hours a day (sometimes more) 7 days a week. I bled into it and, honestly, made a ton of progress. My business partner took tens of thousands of dollars out that she shouldn't have (long story) and I ultimately decided the easiest decision was to just walk away.
...And believe me. By the end my wheels were falling off anyway.
So what do I do? I get a ton of joy out of making stuff. It's also extremely gratifying to see people enjoy what I've made. I love coming up with ideas and making them happen...
...But that's only 1% of a business. The other 99% is marketing, accounting, sales, audience building, and the like.
I don't want to get a co-founder for obvious reasons. There were certain aspects of being my own boss that I loved. I just...
1.) Don't want to spend every waking moment working anymore and
2.) I'm not sure I have the energy anymore to put in the amount of massive action it takes to get a business off the ground.
I guess I'm not sure what I'm asking for here... I want to make stuff for the joy of making it, but to make many of my ideas matter it requires building a business. :\
You should start an 'idea digest' email newsletter or blog.
You could charge $5-10 a month for 1-2 ideas laid out in full detail every month. Exactly how you'd go about it.
People love (myself included) inspiration and ideas.
God... This comment is why I love IH!
Your idea for getting me past not wanting to start a business is to start a business. ;)
That's actually a really good idea though... I could point out the holes I see in the market, how I would approach solving the problems I see, and provide insight on how I would get started.
Thanks for the suggestion. I may kick it around. :)
Viperchill (a more or less famous and awesome online marketer/Seo) had a project like this where he pointed out ‚gaps in the market‘ called gaps.com ... I guess he went on and pivoted the project but maybe it’s an inspiration. Actually I loved this project.
I never heard of Viperchill. I'll have to check him out. :)
If you dont want it to be a business just drop the $5 fee and you're good to go ;-)
But honestly, just pick something you see value for you or others and which could be fun building. Launch it for free or for donations, whatever you feel Like.
You wont get kicked out of IH just because you dont make money from your side Project - you may get some weird looks from time to time but thats it. ;-)
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I was with you right up until you told me I wouldn't have a sex cult. Now I'm bummed out. j/k lol! ;)
I'm seriously going to consider it. I appreciate the feedback!
I've been here before. In many ways I am still where you are. So I'm keeping my ambitions small and keeping my consulting business on cruise control while I work on side projects.
Maybe take some additional time off and let your batteries recharge? I have, at times, completely wanted to shutdown my business and run as far in the other direction as possible. I don't mean going back to work as an employee software engineer, I mean I really just wanted to go work at a gas station or something. Burnout is real, and it doesn't necessarily resolve itself quickly.
Maybe just work on side projects and keep your ambition low? Just put in time when YOU feel like it, not when you feel like you SHOULD. Doing things because you feel that you must, when you are already burned out, is just going to amplify the burnout.
You may have hit the core of the issue actually... Maybe I do need to just take a step back and breathe for a while. I literally started working on my bachelor's as I was winding down the old business. I then took on a full time job and have been a full time student ever since.
I know the best time to start is always yesterday, but maybe I do need to just relax for a while... I've got a good job right now that I'm not miserable at. Maybe I need to just take a little while to breathe. Perhaps I'm still burned out from my last business. It only folded 1.5 years ago.
Hi Matthew,
Been there... I spent 12 years building a business. It was successful and sustainable, but a lot of 80 hour weeks. For various reasons, I sold it for about 1 years salary, a fire sale price.
I have been an employee ever since (12 years). I learned so much running my own business that the challenges of the day job are nothing. I do little side projects to scratch my own itches: A web development IDE, an interface to the Fossil SCM. I don't even bother open sourcing those projects, they are not polished enough but they work for me. So have no audience for my work.
I finally have a side project that I am going to launch on the world, but I still see it as a hobby project. I know what it takes to build a business and am not ready for that yet.
I would say, build something that will give you joy personally. I can't imagine doing PHP or ASP development in anything other than my personal IDE.
Work a full-time job and build stuffs FOR FUN on the side?
Then just do one thing, right.
I'd just build and share stuff you want to, when you want to and do it for free. Make a blog or a youtube channel or something and only do it when it's enjoyable.
You won't have any pressure like an actual business would give you, but you'll still be gaining experience, new friendships and goodwill. All of those could help in the future if you do decide to do another business and won't incur taxes or extreme time demands in the mean time.
That's a valid point. If I just make stuff for the fun of it, it's possible that I'll fall in to something that would be worthwhile as a business. Thanks. :)
Hey @MatthewJones517, I am Rich, maker of failory.com, a website where I weekly publish interviews with failed startup owners.
I read that you have failed to build some businesses in the past. I would love to hear more about your story.
Is there any way I can reach you? Or if you want, just send me an email to richclominson@gmail.com.
I am really looking forward to reading more about your failure story!
You gotta get your podcast on Overcast :)
Your podcast looks interesting! I'm not opposed to being interviewed. I'll shoot you an email. :)
I think it's possible to create a business that relies much more on the product than the 1% you mentioned. If you build a really great piece of software as a side project, and just give it time to grow organically, I think it will be possible to do without too much marketing.