Hobby vs Startup
I'm the kind of person that often has "good ideas" for a product or company to fill a gap in the market (or a perceived gap in the market) and in my head, I imagine cracking out my IDE, knocking up a web application and selling it as a product without too much work.
This is a hobby. It might work but unless you actually create a proper company, you are likely to lack any decent bandwidth and otherwise might well lose all of your market to a larger more serious competitor.
A startup is different. It is a company. It needs a good team of at least 2 people but often 4 to cover technical, sales, marketing and administration. It is hard. It requires HR skills, people skills, recruiting skills, marketing skills, sales skills, technical skills, business sense, knowing when to hold on, knowing when to let go, knowing when you have a good fit, knowing when to pivot, knowing when to add another product when to augment an existing one, knowing when to sunset something that didn't really work.
Startups are hard.
They require a commitment that hobbies don't. They usually require significant investment and most of us don't have this in savings unless we have been successful before.
Some people do OK with a hobby that they can dip into in their spare time. They might make enough to pay themselves or maybe even enough to pay themselves very well but in most situations, a hobby will not make you rich whereas a Startup easily can.
Why am I going on about this anyway? Because if you want to create something to be rich, you have to understand that there is a lot of risk, 99.999% of people cannot grow from hobby to decent business without taking risks along the way. If you want to make money, think very seriously about whether you will be able to commit what it takes in order to succeed.
If not, get a normal hobby ;-)
This is a hobby. It might work but unless you actually create a proper company, you are likely to lack any decent bandwidth and otherwise might well lose all of your market to a larger more serious competitor.
A startup is different. It is a company. It needs a good team of at least 2 people but often 4 to cover technical, sales, marketing and administration. It is hard. It requires HR skills, people skills, recruiting skills, marketing skills, sales skills, technical skills, business sense, knowing when to hold on, knowing when to let go, knowing when you have a good fit, knowing when to pivot, knowing when to add another product when to augment an existing one, knowing when to sunset something that didn't really work.
Startups are hard.
They require a commitment that hobbies don't. They usually require significant investment and most of us don't have this in savings unless we have been successful before.
Some people do OK with a hobby that they can dip into in their spare time. They might make enough to pay themselves or maybe even enough to pay themselves very well but in most situations, a hobby will not make you rich whereas a Startup easily can.
Why am I going on about this anyway? Because if you want to create something to be rich, you have to understand that there is a lot of risk, 99.999% of people cannot grow from hobby to decent business without taking risks along the way. If you want to make money, think very seriously about whether you will be able to commit what it takes in order to succeed.
If not, get a normal hobby ;-)