I would ask my self, if my startup fails, can I find a similar job again? If so, why think about it?..
Is it crazy to quit a 6+ figure salaried job to do a startup right now?
21–30 of 85 posts
Re: Is it crazy to quit a 6+ figure salaried job to do a startup right now?
#22"We rarely regret the things we do in life, we almost always regret what we don't do in life." - my next door neighbor...he said this to me when I told him I was quiting my job to work on a personal project that was certain to fail. It doesn't matter how the project turned out, but he was right.
Re: Is it crazy to quit a 6+ figure salaried job to do a startup right now?
#23It's always been crazy to quit your job for a startup. But craziness and brilliance are only separated by success.
Re: Is it crazy to quit a 6+ figure salaried job to do a startup right now?
#24It'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.
"Fear, I've come to believe, keeps more people from starting businesses than any other single factor. You hear about other obstacles--lack of money, inadequate support, bad advice--but they pale in comparison with the fear most people have that their new venture will fail."
-Norm Brodsky http://www.inc.com/magazine/19991001/13574.html
Re: Is it crazy to quit a 6+ figure salaried job to do a startup right now?
#25I would advise on getting some traction before quitting your job. It can be arbitrary - a few thousand users or uniques/month. If the idea is good you should be able to manage that.
Although if you build something impressive enough it's worth it. Even if things don't pan out, you can use the experience to find a better job.
Re: Is it crazy to quit a 6+ figure salaried job to do a startup right now?
#26Do the startup but keep your dayjob. Work 80 hours per week. It's the American way!
Re: Is it crazy to quit a 6+ figure salaried job to do a startup right now?
#27I 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.
That's a great runway.. you have enough time to fail a couple of times!
Re: Is it crazy to quit a 6+ figure salaried job to do a startup right now?
#28I'm doing exactly that right now. Fortes fortuna adiuvat (fortune favours the brave)! Best of luck... :-)
Re: Is it crazy to quit a 6+ figure salaried job to do a startup right now?
#29Lots of costs, risks, benefits... to be weighed.
And certainly a lot of them are NOT about salary and security.
It's worth taking a look at Scott Shane's January 2008 “Illusions of Entrepreneurship: The Costly Myths that Entrepreneurs, Investors, and Policy Makers Live By” - or at least the discussions at Amazon reviews: http://www.amazon.com/isbn/dp/0300113315
It is a huge leap, and this will help you ask a lot of questions about whether you are suited for the startup world, temperamentally as well as otherwise.
Re: Is it crazy to quit a 6+ figure salaried job to do a startup right now?
#30I quit my job to do a startup the day I was promoted. It was awkward/hilarious. I haven't looked back since.
The most important question to ask yourself is: what do I have to lose? I didn't own a house or a car. I didn't have a wife and/or kids to support. So the answer for me was very little. Honestly assess what could go wrong and who will be impacted. But I have a feeling you've already done that.