I am typing this post to ask for opinions on what I should do. I am currently involved in a very large project. I am overseeing the development for a new social network, marketing, and everything else. The project is expensive, complex, and I will need to do a lot of leg work to get the name out there.
Now here is the issue. I thought of another idea. The idea is extremely simple. I thought of a way to turn the iphone and other smart phones (eventually) into a tool that can produce the the user at least 3K per year by using my product. My profit projections for a stable year appear to be well over 50 million. It will cost me around 12k to develop the web interface, API, and application. This idea should be fairly easy to implement and I would imagine that it will sort of take off on its own. In addition, I would be outsourcing the work, so all I need to do is tell the developers what to do, aside from some administrative leg work.
the problem is that I still need to give up time to make it happen and get the money. And even though the potential for success is huge and easy, I don't want to put my main project to the side at such a critical period. But then again, I am the type of person who likes to do a ton of stuff at once, so maybe I can do it..
So is there anybody out there who has been successful with two start-ups at once? I think that the answer to my question is a simple no. If I think economically about it, then I should know that I can't be in two places at once. And I will be foregoing money that my main start-up needs. However, the unrealistic side of me keeps saying to do it.
Any opinions?
Now here is the issue. I thought of another idea. The idea is extremely simple. I thought of a way to turn the iphone and other smart phones (eventually) into a tool that can produce the the user at least 3K per year by using my product. My profit projections for a stable year appear to be well over 50 million. It will cost me around 12k to develop the web interface, API, and application. This idea should be fairly easy to implement and I would imagine that it will sort of take off on its own. In addition, I would be outsourcing the work, so all I need to do is tell the developers what to do, aside from some administrative leg work.
the problem is that I still need to give up time to make it happen and get the money. And even though the potential for success is huge and easy, I don't want to put my main project to the side at such a critical period. But then again, I am the type of person who likes to do a ton of stuff at once, so maybe I can do it..
So is there anybody out there who has been successful with two start-ups at once? I think that the answer to my question is a simple no. If I think economically about it, then I should know that I can't be in two places at once. And I will be foregoing money that my main start-up needs. However, the unrealistic side of me keeps saying to do it.
Any opinions?
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