Get your own $20k

If you want to start a company, there are worse ways to start than consulting.  Let’s do some grossly over-simplified math:

40-60 hours a week @ $50 – $125 / hr

=

~ $2000-$3000 / $5000-$7500 a week

=

~ $8000-$12000 / $20,000-$30,000 a month

And that’s really working yourself 40-60 hours a week.  What if you sliced it in half and only worked 20, using the other hours to work on your startup?

If you have an idea that “only needs $15-20k” to get up and running, you could have that consulting and not have to give up any of your company.   Besides access to quality, QUALITY mentors, I never really understood the need for ultra small scale funding needs that have entrepreneurs looking to firms for $15-25k. Apparently, neither has Gabriel Weinberg:

Symptom: you just need 10-25K in investment.

Cure: get your own 10-25K. Do consulting. Maybe convince friends and family. If you can’t raise that much from yourself and your existing circle, you aren’t going to be able to raise more from strangers. I did consulting for a few years, max 4hr a day, so I could focus the rest of time on my startups.

Read the rest of the post.  It’s spot on.