CLOSED

Budgeting & frugal-living app opened · CLOSED after 2 yr 4 mo

Liao Cheng-han, 35 · 2 yr 4 mo

“Worst month: lost NT$47.3K. I still remember that month.”

I closed after 2 years and 4 months. What remained was NT$419,240 in debt and 430 customers.

On the last day, you posted the shutdown notice and turned off the servers. Cash -NT$23,604, debt NT$419,240, 0 employees, 430 customers. You settled the last bills and closed the laptop. The business failed, but that time did not disappear.

How it went

1. 2026 · preparing to openLiao Cheng-han, 33. You have decided to try starting a company in Taipei. No idea, no product yet. Savings NT$978,479, employed (NT$50,292 a month).
2. 5/2026: what now?Start a business: «Budgeting & frugal-living app» — You are going with «Budgeting & frugal-living app». Still no company, no product. Now find out whether the idea is real.
3. 2026 · year 1 beginsUS Rates Rose Again
4. 5/26 · Your mentorYour mentor sent a link to an article. “This sounded like you.”
5. 6/2026: what now?Interview 20 people — 6 of 20 said they would pay. 6 only said it would be "nice to have".
6. 6/14 · The exchange rate pushed up import billsThe TWD/USD rate rose to 33.5. Servers and subscriptions billed in dollars cost more.
7. 7/2026: what now?Decide to build it — You decided to build. Validation ends here.
8. 7/21 · A competitor movedA big company bolted a similar feature onto its product, free. More customers now ask, “How are you different?”
9. 7/25 · Funding costs rose againThe US 10-year yield rose to 5.61%. Investors recalculated valuations, and the bank asked for more collateral.
10. 8/2026: what now?Build it with no-code tools — You picked a template. By lunch there was a login screen.
11. 8/6 · Down sickA sore throat and a fever. You got through the day in a mask.
12. 9/2026: what now?Quit your job — You quit. The next morning, not having to go to work felt strange.
13. 10/2026: what now?Keep building — You crossed three lines off the list. Two new ones appeared.
14. 11/2026: what now?Keep building — Another month the same way. Progress crept up.
15. 11/12 · Your mentorYour mentor sent a link to an article. “This sounded like you.”
16. 12/2026: what now?Keep building — What you built today, you fixed tomorrow. Progress still went up.
17. 1/2027: what now?Launch — You pressed launch. 192 sign-ups on day one. You refreshed ten times.
18. 1/12 · Funding costs rose againThe US 10-year yield rose to 5.61%. Investors recalculated valuations, and the bank asked for more collateral.
19. Financing approvedsmall-scale business Youth startup and startup capital loan NT$200,000 · 2.2%/yr · 84 months
20. You are short of moneyApply for the Youth startup and startup capital loan — You rewrote the business plan. The officer at SMESA spent longer on cash flow and repayment than on revenue. The answer arrives by post. small-scale business Youth startup and startup capital loan NT$200,000 approved.
21. 2/26 · Server bill spikeTraffic grew, and the server bill came in far above what you expected.
22. 3/2027: what now?Spread the word through communities and content — 39 new customers this month. A post drew questions, and the questions turned into sign-ups.
23. 3/14 · Selected for a grant programSelected for a government support program. The grant arrives next month; the reporting starts this week.
24. 3/30 · The exchange rate pushed up import billsThe TWD/USD rate rose to 33.5. Servers and subscriptions billed in dollars cost more.
25. 4/2027: what now?Keep going — Spread the word through communities and content — 16 new customers this month. Among the new names were people last month’s customers had sent.
26. 4/25 · Covered in an articleAn industry outlet wrote about the product. Sign-up inquiries rose a little.
27. Time to hire?Not this time — You never posted the job ad.
28. US Rates Rose AgainSignals of Fed tightening strengthened the dollar, and this country's funding rates followed. When the TWD/USD rate jumped, costing got complicated again for anyone buying imported ingredients or parts.
29. Year 1 closeRevenue NT$18,622, loss NT$324,249. Cash NT$414,512.
30. 2027 · year 2 beginsYou Found a Mentor · Security Incident
31. 5/10 · Down sickYou came down with something. You took medicine and pushed through, but could not concentrate.
32. 5/25 · An investor showed interestAn investor asked for a meeting next week. “I want a closer look at who is building this,” they said.
33. Financing approvedBorrow from family NT$400,000 · 0.0%/yr · 36 months
34. 6/2027: what now?Apply: Borrow from family — You waited for the Borrow from family decision. Borrow from family NT$400,000 approved.
35. 6/15 · FamilyAt dinner nobody brought up work. You understood that was a kindness.
36. 6/29 · A competitor movedA company solving the same problem announced a funding round. Nobody in the comments mentioned you.
37. 7/2027: what now?Run ads (NT$47,000) — 133 new customers this month. While the number climbs, it looks like a company.
38. 7/26 · Demo dayYou presented at demo day. The questions were sharp, but the applause sounded genuine.
39. Financing declinedThe Bank working-capital loan application was declined.
40. You are short of moneyBank credit line — You walked into the bank with documents and proof of income. They said your trading history is short. Now you wait for underwriting. But underwriting declined it. Credit and cash flow need another look.
41. 8/3 · Server bill spikeA test server you forgot to switch off had been running all month.
42. 8/8 · Churn roseCancellations this week were double the usual. Many customers abandoned the payment page.
43. 9/2027: what now?Take a job and run it on the side — You rewrote your CV. The interviewer found the startup story interesting.
44. 9/3 · Selected for a grant programSelected for a government support program. The grant arrives next month; the reporting starts this week.
45. 9/28 · Loan payment dayLoan payment day. NT$11,111 in principal and interest left the account. The balance is NT$569,305.
46. Chih-han says they are leavingLet them go — Chih-han left. You had not known the flat could be this quiet.
47. 10/2027: what now?Spread the word through communities and content — 33 new customers this month. While the number climbs, it looks like a company.
48. 10/20 · Covered in an articleAn industry outlet wrote about the product. Sign-up inquiries rose a little.
49. 10/26 · Patent warning letterA certified letter arrived claiming possible patent infringement. A lawyer needs to review it.
50. AI redrew the marketIgnore it — You did not buy the tools. Six months later, a competitor offered the same service at half the price.
51. 11/21 · Service outageAn alert at 3 a.m.: the disk was full. Fixed before morning; nobody noticed.
52. 12/2027: what now?Keep going — Spread the word through communities and content — 9 new customers this month. A post drew questions, and the questions turned into sign-ups.
53. 12/22 · The bank asked for documentsThe loan extension paperwork arrived: financial statements and copies of the business tax returns, please.
54. 1/2028: what now?Keep going — Spread the word through communities and content — 35 new customers this month. Among the new names were people last month’s customers had sent.
55. 1/22 · An investor showed interestAn investor asked for a meeting next week. “I want a closer look at who is building this,” they said.
56. You are short of moneyHold on — You closed the loan papers. Instead you cancelled subscriptions, cut what you could do without and pushed the next payment date. Holding on is also a decision.
57. 2/3 · Security vulnerabilityAn outside researcher reported a vulnerability. You have to check whether personal data leaked.
58. 2/27 · The exchange rate pushed up import billsThe TWD/USD rate rose to 34.5. Servers and subscriptions billed in dollars cost more.
59. 3/2028: what now?Keep going — Spread the word through communities and content — 36 new customers this month. While the number climbs, it looks like a company.
60. 3/4 · A competitor movedA big company bolted a similar feature onto its product, free. More customers now ask, “How are you different?”
61. 4/2028: what now?Keep going — Spread the word through communities and content — 7 new customers this month. A post drew questions, and the questions turned into sign-ups.
62. 4/3 · Global growth forecasts fellWith the IMF and World Bank forecasts diverging, global growth came down to 2.2%. Replies to overseas inquiries got slower.
63. You are short of moneyHold on — Instead of a loan you opened the household budget. No more eating out; repairs that could wait, waited. Holding on needed a plan too.
64. You Found a MentorAn industry senior offered to buy coffee. He told you, "I went under back then because I did not know this." Advice is free, but listening takes humility.
65. Security IncidentA report came in that customer data had been exposed. The cause was an API built in a hurry three years ago. Trust takes three years to build and three hours to lose.
66. Year 2 closeRevenue NT$94,153, loss NT$219,233. Cash NT$40,572.
67. 2028 · year 3 beginsA Competitor Copied You
68. 5/27 · Patent warning letterA certified letter arrived claiming possible patent infringement. A lawyer needs to review it.
69. AI redrew the marketAI tools changed the industry’s cost and speed. Companies that adopted them move cheap and fast; the rest pay twice for the same customer.
70. 6/2028: what now?Keep going — Spread the word through communities and content — 35 new customers this month. Among the new names were people last month’s customers had sent.
71. 6/4 · Demo dayYou presented at demo day. The questions were sharp, but the applause sounded genuine.
72. 6/17 · Your mentorYour mentor sent a link to an article. “This sounded like you.”
73. 7/2028: what now?Keep going — Spread the word through communities and content — 28 new customers this month. While the number climbs, it looks like a company.
74. 7/20 · Rate hike newsThe news said the policy rate went up. You reread the terms on the existing loan.
75. 7/23 · Down sickDay three of a cold that will not lift. No time to see a doctor.
76. 7/31 · The tax went unpaidOn the due date the account was empty. NT$210 went into arrears with a late penalty. It has to be paid as soon as money comes in.
77. 7/17 · A loan payment bouncedThe loan payment did not go through. One text from the bank, and your credit grade dropped a notch.
78. You are short of moneyHold on — Instead of the bank you called suppliers and asked for a month’s grace. Two said yes, one said no.
79. 8/3 · The bank asked for documentsThe loan extension paperwork arrived: financial statements and copies of the business tax returns, please.
80. 8/30 · The exchange rate pushed up import billsThe TWD/USD rate rose to 34.24. Servers and subscriptions billed in dollars cost more.
81. 8/7 · Collection callsA number you did not know. It was about the overdue loan. Your family heard every word.
82. A text offering moneyDon’t borrow — You deleted the text. This month’s bills need another way.
83. A year back at workWind it down and focus on the job — You sent the shutdown notice. One customer replied, “Thanks for everything.”

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