Having taken a break in December, I now find that I can’t get back into working on any ideas I have on my list. Mostly because I’m realizing that they don’t solve a pressing need.
I still want to start something of my own, but I don’t know what to do next. Here are some of the things I’ve tried in the past:
- Switched careers (from sales to dev) to better prepare myself for starting a tech business. Realized that tech is the easy part.
- Looked for business cofounders. Everyone who was open to partnering wasn’t willing to validate their ideas; they just wanted me to build the whole thing in one go.
- Joined a startup accelerator. Found it’s like playing the lottery.
So here I am, asking for advice :)
I have spent more than 20 years working on side hustles. I love tech and enjoyed building various prototypes and games. Building is easy part.
Never fully understood rest of the business, had no sales.
A friend who had done same thing, decided to stop doing that. Instead he started an e-commerce store. Focused on market research, marketing, etc. After his first store took off, he created more stores. He doesn’t care about what he sells, he just cares about revenue.
He is making enough to quit his EM job. He plans to keep adding new stores in his portfolio.
Also maybe go along to local inventors' clubs, uni and business seminars, and other things that might set new thoughts running...
Stay receptive to interesting things, but try less hard for a while.
As for the next part, learning and talking to others. Go learn about things that interest you, new technologies and tools, problems people have, the competitive landscape to find gaps. I spent most of '24 in this mode and have settled on ATProtocol as the area I'm now focusing in. There are vast and open green fields and the opportunity to reshape how humans use social media and interact with each other through it.
Try to solve a small problem, rather than trying to boil the ocean, it may lead on to other things.
If you have any cash saved up, this would be a way to go because:
- cash flow - existing customer base to talk to - product - market fit has happened (hopefully)
You'll get a crash course in everything after the 0 to 1 phase of the business.
And you'll get some energy from talking to customers and building for them.
source: I'm doing that with https://www.fundedlist.com after many years of doing what you described.
I think it isn't obvious why it should be a desirable thing to do.
I am genuinely interested to know your answer - because there's so much startup culture but it isn't clear to me what the drive is...
The usual trite reasons of money or independence are not compelling enough. I think most founders know the probability is failure and $0. Having clients or VCs mean independence is not much more than a trade worker.
How can you have a sales career behind you and not been able to make any sales on your previous projects? It's not hard to make a business with good revenue. What's hard is making a decent profit from that.
- continue attending networking events
- start reading books on technical topics that I'm personally interested in
- look into e-commerce businesses
- write some blog posts about technical/business things I have strong opinions on
Appreciate all the comments!