Why Do Most Programmers Who Start Companies Fail?

If you're a programmer tired of the corporate grind, and thinking about starting a software company - watch out. I tried this twice and failed, but the third time went much better. Here are some practical tips to avoid pitfalls as a software engineer if you want to start a software company - and be successful!

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CHAPTER MARKERS

0:00 Introduction
1:05 8 Mistakes Programmers Make Starting Companies
1:19 1. Picking a Product That's Fun To Build
3:54 2. Choosing a Viral Business Model
6:26 3. Overengineering
9:00 4. Having a Fixed Mindset
12:59 5. Spend Too Much Time Building The Product
15:14 6. Poor Financial Management
18:27 7. Failing To Build Networks of Help
21:18 8. Low Self-Confidence

#programming #startup #career

[HealthyDev]

Are you thinking of starting a solo software product venture to escape from the corporate grind? What resistance are you facing? How do you feel about the points in the video? What else are you worried about? Let's talk about it.

[troymann]

This video is huge. Several of my friends are going through this right now, having been laid off or quit and started their own businesses. Developers are often not prepared for the world of business.

[orlovskyconsultinggbr]

Running a company is not the same as writing code, you deal on constant base with people and the psycology and with finance and if you have 0 luck and time to postpone difficult business decision, programmers not just aware of that, they think creating a good product is 100% gurantee of success, but here is flash news there is no gurantee as business go up and down, what make sense a strategy and backup plans and taking and receiving favors from anyone who can help.

[rajatsx]

You were so right about #5. I personally struggle with this a lot.

As a developer, I obsess about every single detail on the product side. On the other hand, I pay very less attention to the business side.

[robertmazurowski]

Build an MVP, that will make money and is written as quickly as possible, if it makes money you get investors, and/or other coding cofounders then you can just rebuild proprerly.

Don't write high quality code for potentially a throaway MVP.

[jemmrich]

Something I see in engineering a lot is that engineers will fall back to what they know when things get hard or when they are out of their comfort zone. An engineer moving over to the manager track falling back into code-neglecting their new position, a new cto focusing on engineering tasks rather than leading or processes, or a motivated engineer starting a business yet ends up not able to get out of the engineering thought process and never releasing the product. It's hard but you gotta step back. Once in awhile and ask, are you doing what you need to at this moment to reach the goal?

[khkxenl]

This is some serious wisdom...as someone that's spent 8 months working on my own project now.

[rommellagera]

There are only 2 skills you need to be able to survive as a freelance or startup software company

1. Top skill is not coding, but abiility to collect payment

2. See number 1 😅

[neanda]

you playing guitar as the outro is such a cool touch, it's like a soundtrack to reading the comments :)

[RyanSimon]

Some really fantastic advice here! Just launched an early version of my product to customers for testing and its taken me 2 years to get here. I can relate to everything you've said.

[realogsus]

Smart advice. Sometimes we go for fun & static ideas. Great businesses are made from solving real-world problems, which can evolve over time.

[KineticCode]

this week's groove was especially groovy

[spectr__]

Thank you for this, I'm just starting to plan something

[jaymanxlife]

Thank you for all the good tips. I've just finished the paperwork I need to get my sole proprietary business registered last week, and I'm encouraged to keep going. No product in mind yet but I want to hone in on my business strategy first.

[tonylangworthy]

Wow, this hit me right in the heart! I’m so guilty of over engineering and rewriting a certain project over and over. Great for learning, but it’s horrible for business. Thanks for making this. Instant subscriber here!

[Orkari]

Thank you for making this video! Very few people are discussing solo software development entrepreneurship. Please keep this discussion going! ❤

[ByronBennett]

Thanks, dude! I'm 54, working corporate, building my app on the side. Been working on it for a couple of years. It's not a simple product, so...strike 2! (Strike 1, I'm 54). Really appreciate your encouragement.

[rolandfisher]

It's about as shocking as an MBA trying to build great software and failing. It's almost as if these two skill sets are different from each other or something.

[kodekorp]

That advice in the beginning of the video… I swear is one of the most basic advices I’ve heard over and over growing up as a kid.

You cater your product to customers, yes you definitely listen to feedback.

[Langeta-kun]

Being in so many coding communities, and seeing the owners reply to feedback basically saying no youre wrong in a friendly manner. Like okay man, keep making a product only you like I guess