How much more would you be delayed if did contract work 2 days a week? Would your startup be more at risk of failing if you freelanced those two days a week, or if you risked surviving without it?
Yeah. Contract work sucks. it takes much effort away from your primary goal. But you know what? I think that contract work is usually less distracting than debit.
Debit, I think, has a ongoing negative effect... you are committed to paying $x a month, even after you've spent the original loan on your initial bad idea. Now you've gotta come up with operating cash for the business, for yourself, /and/ the cash to make a payment.
I see debit as more of a "you have this one shot... if you fail, bankruptcy" kind of thing. Which can be okay for some things... but it's not how I work. See, usually I end up doing the wrong thing first. After that, I have a better idea of what the right thing is... but if I took out a loan and spent it on the wrong thing? now I'm stuck with a pretty big debit payment. Only spending the cash I can get my hands on through the fruits of my own labour puts an upper bound on how much money I can spend on bad ideas.
Now, for me, I ended up just spending a while contracting and paying off the debit that way... if I hadn't been an idiot to start with, I'd be a year ahead now.
Yes, we are transitioning to that just to extend the runway. Our 1st step to building that safety net is spiffing up the company website and taking in Facebook and Twitter application contract work + white labeling the product we are building.
