Loved the article. Ambivalent about the office advice. There's a false dichotomy here between "basement" and "vanity offices". A couple hundred a month will get you a couple rooms and an Internet connection. Having a single place for everyone to work that is an office, and not your house, has advantages. We find that they're worth it (and I dragged my feet for over a year on this, forcing my team to work out of the library).
Agreed. Some people can work just fine at a home office or basement. Others (like me) find that a strict separation between work and home makes both go more smoothly.
"Not Using Open Source" - I wish more small businesses would realize they don't need a full custom website when they shell out 5K for a site that I could do with a custom wordpress theme for a few hundred.
There's nothing wrong with raising money before you have customers at all. A lot of great businesses started out that way. You just have to be adaptable.
If you're in business with friends, either the friendship or the business needs to come first, and everyone should clearly know what that is. Are you willing to harm your friendship for the sake of the business? Or are you willing to let your business suffer for the sake of the friendship?
If you're in business with strangers, the decision is easier.
I don't know, it sounds like a sweet gig if Nos. 3,4 & 5 are the problem. I'd say start saving and keep the resume polished though. Oh, and steal your chair on the day it ends. :)
Mixing isn't the right word. Its more losing track of who owns what and who owes what. Then when they ask you to prove something such as if it was your business taking the deduction, or if it was your business receiving the income, not you, then you can't. And then they get you.
I wouldn't even recommend going into business with a friend.
But if the friend has a complimentary skill set, and clear expectations are set from each person, the startup with a friend as a co-founder has the highest chance of being successful.
