Self-fund your pet projects

After a long hiatus I am back to blogging. I know no one missed me in the blog world :-).

Many of us have had situations during our careers – regardless of the number of years in to one’s career – when we had an idea for the business we work for and couldn’t really work on it due to lack of time and more precisely due to lack of  funds. Many organizations does not have the kind of money required to experiment on out-of-the-box ideas. Companies like Google allows 20% of their work week to be spent on personal projects or special projects (, 2011). However the same cannot be said about companies which are trying to grow or in the middle of growth. There is hardly any leeway for pet projects to be discussed let alone executed in their busy and usually trying environments. To be fair on these organizations, it is not something they do not want to attempt. The time for such projects is just not included in to their cost structure and it is not seen feasible by them either to do so. Although there are obvious advantages and enough proofs for such projects being successful, there are misses too. GOOGLE WAVE started off on the similar lines or so I hear but got shelved with in a year of its existence. Incidentally it was launched on this very day on the 30th of September two years back (Parr, 2009). Nevertheless, there are enough success stories that could inspire one to try the "20 percent time program" if it wasn’t for the lack of time, and funds.

If one could spare some time, could one fund their own special projects? What if one could reserve a small part of one’s income to fund these projects at their workplace itself? Few may ask why do that, if one can fund their projects why work for some one else? Right! Point well taken, but try this angle too.

Let us say a part of the project funding will be done by you and the rest will be done by the company thereby reducing the company’s burden. You as an individual would take the responsibility of the delivery with a stipulated deadline.  I have not heard this being tried, I am sure there will be complexities and problems later in the future once the project is successful, there could arise legal tangles for instance. If some one is actually reading this; I will cover this bit more clearly in the next post:-).

References:

Strickland, J. (2011) How the Googleplex Works [Internet]. Available: http://computer.howstuffworks.com/googleplex.htm [Accessed 30 September 2011]

Parr, B. (2009) Google Wave: A Complete Guide [Internet]. Available:  http://mashable.com/2009/05/28/google-wave-guide/ [Accessed 30 September 2011]

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