HI - I think an important question that many entrepreneurs have are trying to balance the demands of the home & the demands of their exciting new enterprise. If an individual has large demands at home e.g. (little kids, wife, university, and a part-time job) is it feasible to dedicate the necessary requisite time to achieve success in his dreams of building his idea into a real enterprise? Especially nowadays when it seems that the "New" billionaires were single, 20-somethings dedicating every moment of every hour to their idea without stop until they achieved their goals. When a person has that entrepreneurial bug & limited cash, but believes that he has a viable business model that can really take off & generate REAL revenues, what should he do? Should he believe the hype of the DropBox & Facebooks of the world or is there another road to success albeit on a different path? Thanks!

Hi, I started a multimillion dollar company in my 30s while I was working a full-time job.

I think it's important to realize that the media picks up on and echoes stereotypes that are very exciting, but aren't necessarily reflective of most people. My experience has been that for every one Facebook and drop box formed by a young 20 something with no obligations, there are hundreds of other successful sites that were created by people in completely different situations. There are many paths to success.

However, creating a company from scratch does require a significant investment of time... either from yourself or others. If you don't have a lot of free time to spend per week, you have a few options
a) take your time to slowly develop it over a few years
b) Convince others of your vision, give them equity and get them to spend time on it.
And once you have a little traction and can demonstrate a working revenue model, you can take that to investors. And at that point, then you can hire other people to spend time on it.

If you have any follow-up questions, just give me a call here on Clarity and I'll be happy to answer more.

Answered 7 years ago

Unlock Startups Unlimited

Access 20,000+ Startup Experts, 650+ masterclass videos, 1,000+ in-depth guides, and all the software tools you need to launch and grow quickly.

Already a member? Sign in

Copyright © 2021 LLC. All rights reserved.