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Have You Started a Company with Zero Dollars? How Did You Do It?

July 29th, 2008 • Related • Filed Under

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I am very seriously considering the process of starting my own web company. There are several challenges I face in the process of making the right steps to do so.  Here is a quick run-down:

I have a spectacular idea, but I have several barriers to make this happen:

  1. I lack the current programming skills to start on my own
  2. I have a family and a lifestyle to support and maintain
  3. I have little to no start-up capitol
  4. I have never started my own web company before and I never thought of my self as an entrepreneur

I see these obstacles as things that can be overcome and I intend to seek solutions. I would love to hear from our readers and listeners to see if there are other entrepreneur out there who faced the same challenges and how they overcame them. 

If you have a story, let us know: email us at social@wordscause.com or post a comment.

~DK

There Are 2 Responses So Far. »

  1. Comment by Tara Kelly on 3 August 2008:

    Dean, you need founding partners. :)
    A startup is like a child in the embryonic state - there may only be 2-3 actual cells, but all the entire living being must grow from them. The raw material for *everything* must be there already, or there will be complications.

    A startup needs:
    * Someone with the vision
    * Someone to build the product
    * Someone to tell the world about the product

    Two people can cover these roles if they have the know-how and time to do so (tons of both). Otherwise you’ll need at least three people. Don’t even think about trying to hire these people. They must be founders.

    If things take off, that’s when the company will need money - not before. Then add a fourth role to your list:

    * Someone who can find and manage money

    Finding money can be via investors, or sales, or bank loans - doesn’t matter. But once you find the money, you’ll need:

    * Someone who can run a company (this is not the same as managing the money), hire production staff, manage investors, deal with the bankers, lawyers, build partnerships, etc.

    But remember, these are roles. If the founders can cover these roles for the first year or so, you’ve got a fighting chance. Once there is promising growth, and enough cash in the bank to do so, you can start hiring people to take some of the load off the founders.

    Rinse and repeat.

    On the upside, I do know of ONE founder who’s kids still recognize him - so it’s not impossible.

    Let me know if I can help out at all - and good luck!

    Tara

  2. Comment by Dean on 18 August 2008:

    Tara

    Thanks for the comment to my posting. It was extremely helpful and was in alignment to what I have been reading from Kawasaki and others who are well known in the start-up world. So, I am now in a search for a technical partner and I will let you know how that goes.

    Dean

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