104 karma · joined July 24, 2010
But if you can overcome these obstacles using proper time management, project scheduling and keeping fixed costs to a minimum, you'll end up with significantly greater equity and fewer fingers in your proverbial pie, in contrast to giving up equity and answering to your investors, however useful their input may be.
Bootstrapping a startup requires you have a real-world business model which actually generates revenue, which is more than many investor-backed companies can say. However, a profitable model is not necessarily a sustainable one. You could fill your schedule with client-contracted work and pay the monthly overhead and maybe yourselves too, but it's not the most sustainable long-term business strategy (unless you really want to be doing this forever.)
So you contract/consult to pay the bills, at the same time devoting a reasonable portion of your time to building your own products and looking for your "homerun."
The fact is, you can always go back to college if you fail, and you can always do a startup later in life, but you'll never get your youth back. So you need to choose the path into which you'll be pouring those precious years.
Starting a company is a great alternative to college, but don't expect it to be an "easier" path. You're going to have to learn just as much, and on your own to boot.
The rewards are there, if you work hard. But the final decision is yours, and is largely dependent on what you want to do.
I have experience with both Rails and Django. After careful deliberation, we chose to use Django over Rails in part because of Python and its extremely diverse community. Ruby on Rails is a cutting-edge framework, but the Python community was what really convinced us to use Django.
If you're looking to separate a specific app from your company, whether to branch it out as a second company, to separate assets or to sell it off entirely, I would incorporate the app and trademark under that entity.
The advantage of the first is its simplicity. A disadvantage would be, like chc said, if you're sued, all of your eggs are in one basket of liability.
The advantage of the second would be legally separated liability. The disadvantage is paperwork and fees.