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Something that doesn’t get talked about enough is how much money do you need to become an Indiehacker?
Well here’s what my own finances looked like when I went all-in…
A thread 1/n
Well here’s what my own finances looked like when I went all-in…
A thread 1/n
2/n
Kudos to @jrleonr for sharing a vulnerable post on IH.
Personally I don’t think $12,000 is enough financial cushion to go all-in, start an idea from scratch and get to ramen-profitability. It’s just too short of a runway. https://www.indiehackers.com/post/after-losing-38676-as-an-indie-hacker-i-cant-do-it-anymore-i-quit-8673223598
Kudos to @jrleonr for sharing a vulnerable post on IH.
Personally I don’t think $12,000 is enough financial cushion to go all-in, start an idea from scratch and get to ramen-profitability. It’s just too short of a runway. https://www.indiehackers.com/post/after-losing-38676-as-an-indie-hacker-i-cant-do-it-anymore-i-quit-8673223598
3/n
Here’s how much money I saved up over years of corporate work in order to take the plunge and go indie: $200,000
For context, I’m 40, single and had worked my way into quite senior positions by the tail end of my employment.
Here’s how much money I saved up over years of corporate work in order to take the plunge and go indie: $200,000
For context, I’m 40, single and had worked my way into quite senior positions by the tail end of my employment.
4/n
$200,000 was enough cushion for me to work on my own projects for years without drastically changing my lifestyle too much. In retrospect, I think I gave myself too much of a cushion. I basically played around for a year before getting really serious...
$200,000 was enough cushion for me to work on my own projects for years without drastically changing my lifestyle too much. In retrospect, I think I gave myself too much of a cushion. I basically played around for a year before getting really serious...
5/n
...but on the other hand, trying to stretch too small amount a money to the point where it drastically downgrades your lifestyle, affects the people you love and creates a constant atmosphere of anxiety is also counter-productive.
...but on the other hand, trying to stretch too small amount a money to the point where it drastically downgrades your lifestyle, affects the people you love and creates a constant atmosphere of anxiety is also counter-productive.
6/n
You can’t put a number on the “right” amount as it will depend on personal circumstances and living costs in your country etc
The answer is ambiguous: you need more than would cause you stress, and less than would trigger Parkinson’s law and make you waste time.
You can’t put a number on the “right” amount as it will depend on personal circumstances and living costs in your country etc
The answer is ambiguous: you need more than would cause you stress, and less than would trigger Parkinson’s law and make you waste time.
7/n
Going indie is not a linear experience.
You don’t just launch then grow predictably month after month.
You need time to launch, fail, pivot - where a financial cushion helps.
Then you need to commit and double down on something - where a financial ceiling helps.
Going indie is not a linear experience.
You don’t just launch then grow predictably month after month.
You need time to launch, fail, pivot - where a financial cushion helps.
Then you need to commit and double down on something - where a financial ceiling helps.
8/n
If I had to define it more clearly, I think you need at least a year of *comfortable* runway to give it a proper shot.
You won’t do your best work if you are waking up in the morning worried about money from day 1.
If I had to define it more clearly, I think you need at least a year of *comfortable* runway to give it a proper shot.
You won’t do your best work if you are waking up in the morning worried about money from day 1.
9/n
If you don't have that, why not just wait? Do more freelance work. Join a startup and discover problems you are passionate about. Join a big boring company and save up a war chest.
If you don't have that, why not just wait? Do more freelance work. Join a startup and discover problems you are passionate about. Join a big boring company and save up a war chest.
10/10
Or start lower-risk. Build something small alongside your employment or freelance work. You don't have to go all-in like I did, it's just one way to get started. But if you do choose that path, I hope this thread gave you a more realistic idea of the finances needed!
Or start lower-risk. Build something small alongside your employment or freelance work. You don't have to go all-in like I did, it's just one way to get started. But if you do choose that path, I hope this thread gave you a more realistic idea of the finances needed!
