Believe it or not you get over this. It’s kind of like the fear of going up on stage to give a presentation. Some people get an addictive rush, these are usually serial entrepreneurs who just love to be in charge because they have no problems with risk/stress tolerance (mostly). You get better at handling the stress as you get more comfortable with where your business lies and what value you offer, et cetera. Hiring/firing is hard for people but you have no choice and certainly you’re not beholden to give people jobs. People are there to work, do their best at the moment, your job is to ensure them they’re looked after adequately and your door is always open to them if they have to talk to you.
Everyone should attempt to start a small business or a side consulting gig. Failing that, you should strive to make it to VP-suite of your company where in most cases you’ll be tasked with running an arm of the business - the risks are there but it’s more of a simulated environment as well. The CEO will shit test you in almost everything you do and say and this is the grilling you will need, because they expect you to be capable of running things in their stead.
Some people, but not many people...
> Everyone should attempt to start a small business or a side consulting gig
Why?
> Failing that, you should strive to make it to VP-suite of your company
Why?
Why take time out of your day to tiger parent strangers on HN when you can just have your own children and damage them instead?
>Be kind. Don't be snarky. Converse curiously; don't cross-examine. Edit out swipes.
Utter horse shit. I want to earn enough to live without too many worries, and spend time with friends and family.
Being able to leave at 5 is irreplaceable
I do work late, and over my career have absolutely pulled all nighters and weekends and been on the redeye, but that’s when I stretch or flex, and it’s simply not sustainable.
Isn't socialism great?
I don't work for free and neither should you.
With an employer not offering remote, you can set your own rules around it. You can work from Bali, if you want and your customers are OK with it. But i agree , the small business route is certainly not for everyone.
More accurately, they have made enough money from a successful venture that they can afford to fail and their risk/stress is lowered. I know serial entrepreneurs who failed several times in a row. Without some form of safety net along the way (an exit, taking money off the table in a later round, simply nice cashflows they were able to bank for a few years), they all seem to burn out.
You can get over it if you dig the day-to-day of running a business. But not everyone digs it.
Everyone should attempt to start a small business or a side consulting gig.
No they shouldn't because as an endeavor it just doesn't appeal to lots of people.
The "everyone should try and become good at the stuff I think is fun" tone of this response is just weird, and grossly out of touch with observations of human nature.
If your business succeeds. But if your business doesn't, you either enter zombie mode or you find yourself in the bread line.
> Believe it or not you get over this.
This screams either a lack of experience or a lack of meaningful social relationships. Many people never get over this - it is incredibly risky and stressful being a solo founder.
> You get better at handling the stress as you get more comfortable with where your business lies and what value you offer, et cetera.
Again, not true. Some people can do this and others can’t. Fundamentally, it depends on actually providing value, being aware of the value you provide and being able to quantify that. Those are three difficult skills and many people cannot acquire them.
> Everyone should attempt to start a small business or a side consulting gig.
Absolutely no. Many people should not attempt this. In fact, I’ve been doing this for around thirty years and I think the majority of people should avoid it. People with young families, credit card debt and spending problems have no business going out on their own.
> Failing that, you should strive to make it to VP-suite of your company where in most cases you’ll be tasked with running an arm of the business - the risks are there but it’s more of a simulated environment as well.
No, people should strive to make a living, pay their bills and find something approaching happiness.
And there are plenty of examples (search on HN for them) of people running one person internet businesses and making a healthy living.
I suppose I should have qualified my comment by saying it's if your primary aim is to maximize income.
I guess you can say I could maximize further by switching to finance or starting my own business, but the amount of extra stress is just not worth it at the moment, personally.
> I get that...
> Sure, I get that...
I've done both. Working FAANG is way easier than running your own business. Orders of magnitude less stress. That's why some people can "rest and vest" at FAANG.
Your liability is. Worst case scenario is you don't get hired, or you get hired, and then get fired. That the worst that can happen. FAANG isn't gonna come after you for damages if you accidentally brick something in production or are just lazy and incompetent. As a business, your customers might.
Let's watch how the Crowdstrike scenario unfolds in the coming months, when they'll probably get lawsuits up the ass for the damages they caused. Get your popcorn ready.
>And there are plenty of examples (search on HN for them) of people running one person internet businesses and making a healthy living.
Sure, but not everyone can get there, the same how not everyone can become a successful football player despite so many successful examples. There's too many variables. Usually, the right connections are your most valuable asset as one man company, and not everyone has them.
A better example is simply having your business evaporate overnight while you have a building/offices to pay for, employees to pay, etc. Which happened to someone I know back in the early days of Windows NT: his servers and desktops that he built, worked under NT but then a service pack for NT 3.51 broke everything; overnight his contract with a large local hospital went away; that a few months later the next service pack fixed the issues, meant nothing to his former customers. He went from making the equivalent of $250K today to approximately zero.
Im not saying any of this is obvious, but if you are applying to work at a FAANG, I will assume you are both smart enough and ambitious enough to do a bit of research.
First, you don't really know whether that'll hold up in court until it happens.
Second, by the time you're done with the court case, you'll have spent a tremendous amount of time and energy. Not only is that stressful by itself, it's also a big distraction from running the business, and every day you are busy with the court case you'll wish you were spending time working your business. The smaller you are, the more impactful distractions are.
There are two types of people who sue:
- rational actors who have acted in good faith, exhausted all avenues of recourse, and feel like the courts are their only hope for some sort of resolution.
- irrational actors who sue for weird personal reasons, can’t be reasoned with, refuse all attempts to come to a reasonable settlement, etc.
You definitely want the first type of person as a customer.
Again, nothing is stopping anyone from suing you personally right now.
The likelihood of a one-person SAAS getting sued into oblivion is pretty low, especially if you aren't providing something as fundamental as security services to banks and airlines.
So? Worst case, the business folds and you start it again.
This is like being worried about being fired, and people telling horror stories about so-and-so who got fired. They’re fine. You’ll be fine.
The whole point of an LLC is to prevent people from going after the corporation’s owner. They have to go after the corporation itself. It’s in the name: limited liability corporation. And sure, if you end up harming someone physically then they might have a case against you, but most of us don’t run into that problem.
Must be great having infinite ideas and capital.
Nobody but scammers is this chill about their company going bankrupt.
The most you'll ever make at a job is based on one conversation you had months or even years ago. Your income will only ever increase at steps every 6 - 12 months and, in the best case, linearly and in the worst case never increasing beyond inflation.
With a business, yes your income may be stagnant or slower, but your income isn't capped, can change rapidly, and can change on a dime rather than waiting on the next review cycle or whatever.
If you have the stomach for it, a business will long-term always give better returns for your work than a job.
Precisely.
Add to that that as a regular 9-5 worker you have one role.
As a solo business owner you have several roles (engineer, marketer, customer service, designer, etc...).
Working for a big company in the US is massively underrated. Over time, most people working in these companies will be much better off financially and with less stress/health issues.
The silicon valley/tech bubble over-romanticizes entrepreneurship without realizing its NOT for everyone.
For every 1 success story you hear about entrepreneurship, there are 50-100 that fail. The stress and anxiety is not something everyone can or should take if they have the opportunity to coast at FAANG and make $500K+.
How many businesses make $500K in revenue in the US? Not many? [1]
I am paraphrasing here, but I really agree with how Scott Galloway put it: The US corporation is the greatest wealth creating vehicle in history. Way safer and easier to build wealth working at Google.
Giving "StArt a BusZineaSs BRO" as a blanket advice is very disingenuous.
[1] In 2018, 9% of small businesses made more than $1 million. https://www.smallbizgenius.net/by-the-numbers/small-business...
Note: Many statistics online say the number is actually fewer than 5%!
Guy running an email SaaS clearly says working full time would make him more money.
Because the stress and risks of running a small business as a solo inexperienced first time business owner are insane compared to a regular 9-5.
Especially if you start hiring other people, your liability then increases 10 fold as now anything can happen with them (sick leave, absenteism, low performance, sabotage, etc) but you're still bound to the same deadlines you agreed with your customers or you'll get sued for damages by them.
As an employee you have some basic rights and protections from the state on the limits your employer can squeeze from you, more or less, depending on where you live. As a contractor or company however, you don't, and can be fully liable in court for your failures to deliver regardless of your personal circumstances. Unless you know what you're getting into and have the know-how, experience, or mentorship, it's not worth it in most cases.