Quote:
Originally Posted by evanevery
Well, I've been the CEO/owner of a company which is the global leader in a very specific type of computer technology since I founded it in 1998. I started doing software development in 1976 (you read that correctly) and continue write code and do PCB Hardware development til this very day. Microsoft has globally licensed some of the software I have personally developed. So yeah, Software Developer, Hardware Engineer, and CEO...
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Mine is a sad tale of four software developers with the nucleus of leading software (at the time in 1996); putting in all our money to develop and create a business; deciding to go venture capital and in that finding a "bad actor". Whilst we made some money, it definitely wasn't a lot and in the process ruined friendships, broke away least one marriage (not mine, thankfully), but a good experience of what was required to succeed. However, I was in my early 40s with mortgage and children starting high school, so I went back to consulting where I've been successful.
My advice for anyone brave enough to go down this path is to be exceptionally profitable BEFORE venture capital (or better, avoid them); start young so if it goes TU you've time to try again; and never sign away any IP. Finally, money spent in due diligence beforehand is worthwhile. Oh, and particularly if you go into business with friends as partners have contracts beforehand on what's expected and exit plans (plus what happens to non performers).
Oh yes. And a contract is only as good as the willpower and funds to defend it.
Not that I'm bitter....
... and correct assessment on the HUD.