> and why it's important to keep costs low (maybe wait until after you sell the startup), is because when you are profitable, then you are in control of your time and get to set your own schedule
This presupposes that you can get to high marketshare profitability while keeping costs low. That's not always realistic. A more growth-minded competitor can push you out of the market entirely by willing to execute where you won't.
It hadn't yet crystalized in
my mind but to clarify my advice
is keep your personal cost of living
low as a rule of thumb. Optimize
for free time over more money.
For business, spending money
is essential. Ideally try to
spend other people's money.
This presupposes that you can get to high marketshare profitability while keeping costs low. That's not always realistic. A more growth-minded competitor can push you out of the market entirely by willing to execute where you won't.