Entrepreneurs @ Heart

BeefCake 15

BeefCake 15

macrumors 68020
Going to work everyday to a place that doesn't appreciate you or your work?

Any Entrepreneurs here who are seriously looking to dump corporate world to do what they love and start their own start-up? or did already?

Post some inspiring stories or wish of what you wanna do. Maybe this will be a place to find your future business partner!
 
I'm in the middle of a startup now. The plan is slow and steady so that my partner and I can transition in as we're ready to retire from our current jobs.

We've had amazing mentoring, and work with a cohort of other similar startups so that we can compare progress and learn from each other's mistakes and triumphs. It's been a great experience so far.
 
AlliFlowers said:
I'm in the middle of a startup now. The plan is slow and steady so that my partner and I can transition in as we're ready to retire from our current jobs.

We've had amazing mentoring, and work with a cohort of other similar startups so that we can compare progress and learn from each other's mistakes and triumphs. It's been a great experience so far.
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One huge gating item to going at this is the survival cash (enough money to live) to cover Entrepreneurs for innovation. is your current job related or beneficial to the development of your start-up?
 
BeefCake 15 said:
One huge gating item to going at this is the survival cash (enough money to live) to cover Entrepreneurs for innovation. is your current job related or beneficial to the development of your start-up?
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Very much so. I'm a full time teacher and my partner is on our central office staff in the IT department. We are building an edtech incubator.
 
AlliFlowers said:
I'm in the middle of a startup now. The plan is slow and steady so that my partner and I can transition in as we're ready to retire from our current jobs.

We've had amazing mentoring, and work with a cohort of other similar startups so that we can compare progress and learn from each other's mistakes and triumphs. It's been a great experience so far.
Click to expand...

AlliFlowers said:
Very much so. I'm a full time teacher and my partner is on our central office staff in the IT department. We are building an edtech incubator.
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What is that?
 
I have been doing it since I was 20-something. Indie contractor, my own companies, involved in a number of startups (< dislike that term...), etc.

Currently back with a long time friend (a previous company we were engaged in together, was acquired back in 2000), we've converged a few times, this time it may be the next-big-thing. Bouncing back and forth between coasts :)

Huntn said:
What is that?
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I'm sure Alli will respond as well, but in general, incubators (as you may know) are organizations that help to facilitate, manage, coordinate investment, mentor, support, provide infrastructure to startups (agh, I said it again!), OK, let's say early stage companies :D

Generally they're domain specific, so it sounds like it's in the space for developing technology solutions for the educational market.
 
D.T. said:
I have been doing it since I was 20-something. Indie contractor, my own companies, involved in a number of startups (< dislike that term...), etc.

Currently back with a long time friend (a previous company we were engaged in together, was acquired back in 2000), we've converged a few times, this time it may be the next-big-thing. Bouncing back and forth between coasts :)



I'm sure Alli will respond as well, but in general, incubators (as you may know) are organizations that help to facilitate, manage, coordinate investment, mentor, support, provide infrastructure to startups (agh, I said it again!), OK, let's say early stage companies :D

Generally they're domain specific, so it sounds like it's in the space for developing technology solutions for the educational market.
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I was not familiar with the term, but understand what you are describing. Thanks.
 
Huntn said:
I was not familiar with the term, but understand what you are describing. Thanks.
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FWIW, there's been a touch of distinction between an incubator as taking people/companies with skills/motivation/experience and some core concepts and creating ideas/products/companies, and in cases where there's a fully formed product that just needs assistance more in funding/management, dropping them into what's called an accelerator. Not really any formal definition, I've seen them used interchangeably, and quite often using an accelerator as a type of incubator. (a difference in the time involved and types of services).
 
@D.T. Those side projects or early stage companies is what keeps me motivated so I don't fully feel like I "sold my soul to the company store"
 
Huntn said:
What is that?
Click to expand...

D.T. said:
I'm sure Alli will respond as well, but in general, incubators (as you may know) are organizations that help to facilitate, manage, coordinate investment, mentor, support, provide infrastructure to startups (agh, I said it again!), OK, let's say early stage companies :D
Click to expand...

Could not have put it better myself. I may even quote you! Sure sounds better than saying "a startup that helps other startups."
 
I just got involved in a startup in toward the end of 2015, in addition to my normal job. I am 1 out of 5 partners. A couple of them just kinda suck, primarily the two guys who combine hold the majority stake. My original plan was to invest and develop the program, policies and procedures. Now I find myself involved with the day to day BS which is very time consuming, stressful, and not really worth it. At least I know good decisions are being made. Business is great though and I'll have my relatively small initial investment paid off in a year or less. From there I'll just be earning extra income, possibly expanding or maybe just selling out. Way too soon to tell though. Things are great as of present, revenue above and spending below initial projections, but we're still new and of course nothing in life is certain.
 
A.Goldberg said:
I just got involved in a startup in toward the end of 2015, in addition to my normal job. I am 1 out of 5 partners. A couple of them just kinda suck, primarily the two guys who combine hold the majority stake. My original plan was to invest and develop the program, policies and procedures. Now I find myself involved with the day to day BS which is very time consuming, stressful, and not really worth it. At least I know good decisions are being made. Business is great though and I'll have my relatively small initial investment paid off in a year or less. From there I'll just be earning extra income, possibly expanding or maybe just selling out. Way too soon to tell though. Things are great as of present, revenue above and spending below initial projections, but we're still new and of course nothing in life is certain.
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How did you go about finding your initial investors?
 
A.Goldberg said:
I just got involved in a startup in toward the end of 2015, in addition to my normal job. I am 1 out of 5 partners. A couple of them just kinda suck, primarily the two guys who combine hold the majority stake. My original plan was to invest and develop the program, policies and procedures. Now I find myself involved with the day to day BS which is very time consuming, stressful, and not really worth it. At least I know good decisions are being made. Business is great though and I'll have my relatively small initial investment paid off in a year or less. From there I'll just be earning extra income, possibly expanding or maybe just selling out. Way too soon to tell though. Things are great as of present, revenue above and spending below initial projections, but we're still new and of course nothing in life is certain.
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What industry are you in?
 
AlliFlowers said:
Just got back from an extremely successful meeting where we have secured fiscal sponsorship, and have almost tripled our network.

Watch out world!
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Congrats! That's awesome.

We had an event a couple weeks ago that was very successful- it really feels good to see interest in your business.

The biggest problem I have with my partners is that me and 2 others (the minority) have a healthcare background. The other 2 with the majority have a business background- so we don't always see eye to eye. It makes for interesting debates, but I suppose it's good to have the balance and expertise of both sides.
 
A.Goldberg said:
Congrats! That's awesome.

We had an event a couple weeks ago that was very successful- it really feels good to see interest in your business.

The biggest problem I have with my partners is that me and 2 others (the minority) have a healthcare background. The other 2 with the majority have a business background- so we don't always see eye to eye. It makes for interesting debates, but I suppose it's good to have the balance and expertise of both sides.
Click to expand...

Having someone with a business background is essential. That's why we are so fortunate to have fiscal sponsorship. My partner and I are educators. Period. We are clueless as to things like business plans, financials, partnerships, incorporation, etc.
 
I think I'll be very happy if I can figure out a way to make a good income off of living on MacRumors and testing new technologies that come out! Probably a fantasy but hey :)
 
The problem with entrepreneurs is we fit like a square peg in a company circles.

We work hard with the mind frame of learning and knowing as much as we can about different disciplines in life to run our own business/organization etc. and be able to work and manage people from different walks of life. This lends itself into a problem when you have to figure a way to put on a specialist camouflage for job interviews to appease their needs.

Few thoughts I had and needed to get them out :).

Any feedback and/or comments are welcome!
 
I've attempted it twice in the past. If I were to pursue some idea in the future, in all likelihood I'll be doing it alone.
 
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