Should you quit your day job for your
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Transcript of Should you quit your day job for your
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Should You Quit Your Day Job For Your Start-Up Business?
Many entrepreneurs don’t quit their
day job when starting a business.
They want to peace of mind of a
guaranteed income, yet they dream of
starting a new business – no risk
versus risk. Their strategy is often to
pursue both. They start their new
business as a side activity, which
consumes their leisure time. It is a
very viable approach, but it can
become a flawed one too.
Here’s an example. The founder of an online
advertising company started by working in the
evenings. His business idea took off quickly.
Within two years, his start-up had over $1.5
million in annualized revenue. As expected, he
quit his day job and focused on his start-up, which
continued to grow. In this case, the strategy
worked well.
This pattern continued on for more than a decade.
This particular entrepreneur became unhappy and
disillusioned on both fronts. He had gone to college
and graduate school. His day job was a professional
one, yet in never turned into a career. He was often
passed over for promotion because he wasn’t dedicated to succeeding at it. He was always looking
for the way out through his side business.
My point is many entrepreneurs keep their day jobs and start a new business because they are hedging their bets. If one avenue doesn’t succeed, they always have the second. However, as you can see by the second entrepreneur, his day job suffered and didn’t progress because of the start-up.
While starting a new business in
your off work hours is a viable
strategy, if it continues on for too
long, it may mean that neither the
start-up nor your day job will be
successful.
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KNOWLEDGE with world.
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