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Alexx | 12 years ago

Having read through all the answers here, I really think that HN is possibly not the best place to ask such a question.

   Solve a problem
Seems to be the largest response. Solving problems is hard. If you want to earn $100k this year, don't solve a problem, don't do a startup[1].

Startups deal with problems, are capital intensive, risky, and high reward. If you want to potentially make a lot more than $100k in the next few years then, sure, go find a problem.

If you simply want to make $100k this year, then my choice would be to start a simple service business. No need to build anything new or solve a complex problem. The majority of SME businesses fit this mould really, everything from software agencies to recruitment companies.

Pick an area you have some knowledge in, start on your own, and execute to the best of your abilities. The main challenges are usually managing cash flow and the day to day realities of running a small business. But if you end up with 4-5 employees and stable cash flow, you now have your own earning power plus around 20% of the people below you typically.

That or review your CV, and plan the most aggressive route towards a position in a financial / high yield company, adding $100k to your salary as an employee could be feasible depending on your background.

Either way, the people who just stumble upon money are outliers. So the really short answer is just work harder and accept more risk in you decisions.

[1]http://www.paulgraham.com/growth.html

discuss

order

pdevr|12 years ago

If he is already working as a PHP/mySQL developer, it will be hard to build a service based business on the side. YMMV.

Edit: Those who downvoted, please provide the reason also. Happy to have a discussion. I wrote the above based on my personal experiences.

Alexx|12 years ago

I didn't down vote you - but the way I always see it is a sliding scale:

[Lowest payout] Totally guaranteed money - [Highest payout] Risky very unlikely money

On the left you have a salaried job. On the right a shoot for the moon VC startup. In between you have the entire range from trying to build products for 'passive income' on the side, to going alone starting a small cash-positive business, or freelancing. Your level of risk is entirely up to you, and the reward will usually be fairly linear, within your own earning capacity and skill set (money is fairly efficient in that sense!).

Working more hours or quitting your job fits into that scale along with all the other factors. If your appetite for risk is on the lower end such you won't quit, then you will have a harder time competing with people who've positioned themselves with more risk.

There will always be the outliers who just break the model though.

ChuckMcM|12 years ago

You make an assumption that the PHP/mySQL role consumes all of his time. That isn't necessarily true, he may be in a position where he's just tweaking scripts occasionally.

ye|12 years ago

Because side projects never ever ever become successful?

geldedus|12 years ago

Nope. Solve a problem worth solving