Take some vacation time to work on the startup and see how it goes.
Is it crazy to quit a 6+ figure salaried job to do a startup right now?
11–20 of 85 posts
Re: Is it crazy to quit a 6+ figure salaried job to do a startup right now?
#12it depends on the state of your startup. can you get it to cash flow positive before you have to quit your job? etc..
either way, its not crazy. its just a question of what your personal situation and values.
Re: Is it crazy to quit a 6+ figure salaried job to do a startup right now?
#13I think it depends if you can fund it yourself. If you're relying on external funding in the near future it might be hard. If you've got the cash to fund it yourself, then there is a case that it's a great time to start a business.
Yes, me and my co-founder will be bootstrapping for at least the first year. But our plans are to become cash flow positive in 6 months. I can probably survive for 3-4 years with no job, my partner at least 1 year.
I've moved in and out of high-paying consulting jobs and startup work a few times.
If you can afford to take 3-4 years to give yourself some runway, and you're willing to do that, then absolutely, go for it.
Re: Is it crazy to quit a 6+ figure salaried job to do a startup right now?
#14Depends on your savings.
Re: Is it crazy to quit a 6+ figure salaried job to do a startup right now?
#15It's so easy to rationalize not doing it but actually, sooner is always better than later when it comes to making yourself happier - life is short and unpredictable and what we think of as security is often a big joke at our own expense.
My thoughts exactly, this is what I truly believe. It is only Fear Uncertainty and Doubt that make me worry about it.
I was in your position two years ago but in my case I had a serious health problem. I was scared shitless. I didn't want to give up my job because I needed the health insurance. But my job was making my health worse. I quit and second guessed myself for a long time afterwards. But two years later I am fighting fit again. Thinking back, my only question is, why did I wait so long to do what was in my best interest? Most people who knew me thought I had the best job in the world. But I was miserable. For several years (!) I listened to them instead of myself and made my health even worse. Complete and utter irrationality combined with a lack of self-confidence. In the end I only did it because I had to, not because I am a shining example of courage. I really thought I was throwing everything away and yet I was so wrong. Let my stupidity be your guide. Oh, and the company went under after I quit. So much for throwing away my security. The question is really much simpler than you think.
Re: Is it crazy to quit a 6+ figure salaried job to do a startup right now?
#16Re: Is it crazy to quit a 6+ figure salaried job to do a startup right now?
#17I think it depends if you can fund it yourself. If you're relying on external funding in the near future it might be hard. If you've got the cash to fund it yourself, then there is a case that it's a great time to start a business.
Yes, me and my co-founder will be bootstrapping for at least the first year. But our plans are to become cash flow positive in 6 months. I can probably survive for 3-4 years with no job, my partner at least 1 year.
In that case you are well placed to give it a shot. There are few certainties in life, but you are not in a bad position.
A few months ago I was in the same position as you, was procrastinating about quitting, and ended up getting made redundant as a complete suprise. Personally I haven't looked back. Nothing is guaranteed, you need to personally decide more which you will regret most: quitting now, taking the risk and going for it, or waiting till till later when the economy might be better, but then you're personal circumstances might have changed. At the end of the day - it has to be your decision, but if you do genuinely have 3-4 years of cash, then go for it!
Re: Is it crazy to quit a 6+ figure salaried job to do a startup right now?
#18Is it possible to build a proof of concept in your spare time? If so, that might be better than outright quitting. Then again, it depends on what kind of person you are. For some, having the fear of failure makes them more motivated...
Re: Is it crazy to quit a 6+ figure salaried job to do a startup right now?
#19My cofounder did it. We shall see :-/
To be honest, the ideal would have been to keep the six figure job and use it to fund us, but Midway games was/is going down like a sinking ship.
Re: Is it crazy to quit a 6+ figure salaried job to do a startup right now?
#20The startup would be a two person company me and a friend are co-founding.
You're lucky that:
a) You have enough runway to do this;
b) You have a co-founder.
I'm struggling with the same choice, but I have neither a nor b.