Will Lam.net

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Will Lam.net

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  • Advantages of being Asian and running a startup

    I love being Asian.  I mean, you get all these perks just because of your heritage!  Some other things that are automatically assumed when you’re Asian are:

    • That I’m smart (not really) because I’m Asian and wear glasses
    • That I’m to be underestimated (which I totally love)
    • Your parents unconditionally love you  and it’s cool if you’re nearing 30 and living in the basement.  It’s expected you live at home until you get married

    I’ve been able to keep my startup alive by keeping our burn rate really low.  What is it when I mention “burn rate” anyway?  Being able to pay for basic living expenses like rent, food, energy and um.. internet.  This is in addition to having an awesomely dedicated team and advisor all in part through moving back home to my parents and avoiding soul crushing debt. 

    Sure, it sucks at first moving back home, cramping your style, but in hindsight that advantage that you get sure outstrips having to fold your company, put it on hold or go back to working for “the man”.

    What is it when I mention “burn rate” anyway?  Being able to pay for basic living expenses like rent, food, energy and um.. internet.

    So what about other “meta-issues” like “saving face”?

    The guise of doing something that garners respect really does matter to parents.  Do something that brings in the money.  I try to keep it vague as possible because communicating in Chinglish about virality, k-factor and other metrics is pretty damn tough impossible.  

    I just show them any progress we have from time to time.  Other than that, my parents can say “Yes, our son is running his own company”.

    Other than I have to do some freelancing on the side to keep the cash flow coming in, so that I don’t have to mooch off my parents entirely.

    Food delicious food

    Besides not having to pay for rent, you get your meals are cooked for you.  If it isn’t hot meals, at least you get a fridge full of yummie leftovers that you can quickly heat up.

    Laundry done

    Now if you’re really a mamma’s boy, you’ll get the advantage of having your mom do your laundry.

    What does this all equate to, less time being spent on stuff that can be major stressors in your life and distracting your from making shit happen.  Win!

    Closing thoughts

    All joking aside (and swallowing some pride) at the end of the day, when all is said and done, blood is thicker than water - don’t forget to appreciate your family and do them proud by hustling for all your worth and turn your vision into reality.

    The point is to not be a burden on your parents, keep your impact as low as possible.  I’m not talking about taking money from them when they offer.  You should be at the very least be able to create some sort of residual cash flow to pay for basic expenses (mostly food). 

    GetDateIdeas.com is launching in Startup Festival in Montreal on July 13, 2011!  Sign up to get early access!

    Tagged: startups burn rate

    Posted on June 30, 2011 with 29 notes ()

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