How do you get over the fear of quitting your job to start a startup?

Besides, choosing a cheap country to live in means you have more runway to bootstrap. Here in Vietnam, I spend less than $700 / month, so I have almost no money concerns.

I've written about it here: http://gregschlom.com/post/2300487726/geographic-arbitrage-h...

I dropped out of college during my last year because I couldn't handle the thought of not putting 100% of my chips down on my idea. After all, the university will always be there to collect tuition.

It has taken me over 3 years of blood, sweat, tears, missed payroll, busted relationships and credit card debt to get to the awesome place I am now: great salary, 13 employees, two awesome VCs backing me and the team.

It's been one hell of an experience, but i encourage anyone able to take the risk to do it. I've learned 10x what any MBA student would in just a few years.

1. Launching a startup is a big deal. It's a great thing to do, but it's not for everyone and it shouldn't be taken lightly. If you're young and considering doing this, try working in one first. Start with one that has already raised capital and can pay you reasonably well-- no, you won't make the $85-100k available in corporate jobs in take-home cash; although if the company's successful, you'll do a bit better than that-- and learn on someone else's dime and risk. This means you won't get all the glory if the startup's a home run. It does give you a chance to learn what startups are about. If you can't find a startup you like, find a larger corporation and become an "intrapreneur".

2. Network and learn in your 20s. Zuckerberg is the exception, not the rule. Most successful startup entrepreneurs are going to be in their 30s; and most of those people spent their 20s diligently (and invisibly) working hard to learn about technology and also about people. Meet venture capitalists and see how they think. Meet (and become one of) the smart programmers you'll want to hire and see how they see the world. You're going to need a strong network if you want to do a startup because (a) you'll need meetings with investors and clients, and (b) you'll need a safety net if the startup doesn't work out.

3. Remember that startups aren't that much riskier than corporate jobs. The five-year survival rate of new companies isn't the infamous 10%, at least not when discussing serious technology companies with tech-savvy, full-time founders. It's actually about 50%. Now consider a corporate job: a lot of people end up "pigeonholed" with low visibility and minimal chances of advancement (once new people are being hired into the spots you deserve, this has happened to you) in corporate jobs. They fall off the "fast track" and will never get back on. This has more to do with political luck than skill or work ethic, and what are the odds of it happening? About fifty-fifty, after 5 years. So it seems to be a constant that any time you take a new job, there's about a 50% chance that you'll either lose that job, or it won't be worth it to come in to work, 5 years later. When you're young, the half-life of a job is probably less than that. In this light, startups aren't actually that dangerous. If you're 22 right now, there's over a 90 percent chance that you will lose a job involuntarily (layoffs, health problems, political misfortune, business failures) in the next 40 years. It turns out not to be such a big deal.

Moving on to a startup as an employee, esp. an early one, is also a great experience and usually gives you experience outside of your specific discipline (e.g. developer). Everyone wears multiple hats, you operate in a small environment, and you'll be privy to VC meetings/ pitch decks/ cap tables/ board meetings/ etc.

Networking throughout those experiences will serve you well when the time comes to start your own.