Poll: What was your financial situation when you started your startup?
Simple question. I want to get a sense for whether people are really starting from a position of destitution or if they already secured something before they start (or if they have a cushion)
Note: the last few options (starting with "Side project+: You have an existing job and are continuing either full time or part time while you start the business") were added between 10 minutes and an hour after the poll started ("Live on social welfare programs (social security, unemployment checks)" was added after more than 300 votes were cast) , so some of the results will be skewed
- 45 points
Family provided an explicit cushion (e.g. trust frund)
- 72 points
Family didn't give an explicit cushion but could provide one (e.g. extra mortgage to give you 10-25K if you really desperately needed it)
- 162 points
Family can't give you funds but can let you live in basement if the startup blows up and you need to find the next thing
- 341 points
You personally saved up a small runway and minimized costs during the time (forbearance on loans etc) so that, even if things blew over you could survive a few months.
- 330 points
You have enough saved up so that even if things blew up you could last a year or more
- 19 points
You have friends you could lean on for support
- 113 points
Nothing. No one could help me out, and I would be forced to declare bankruptcy or go into prostitution if I didn't make money in a month.
- 386 points
Side project+: You have an existing job and are continuing either full time or part time while you start the business
- 72 points
Earning Spouse: Someone else in your direct household earning enough money
- 32 points
Live on social welfare programs (social security, unemployment checks)
- 5 points
Personal Asset Sale (added 3 hours later): Selling your home or any other asset that would give you at least six months runway
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