I have a list of concerns and questions as I am doing something similar. Would be interested to see what you make of it: What does your boss/supervisor think of your startup? How much do you talk about it at work? Are you worried that your full-time employer will think you're doing your work on their time? Are you worried that you may be technically doing your work on their computers (even by logging into Asana or a…
- Talk as little as possible. Even if you have a very transparent, honest relationship with you boss. If your boss might find detrimental you to have a startup, don't talk at all.
- Never use the company's computer to any kind of work on your startup. For emergencies (and you must really have a high treshold for emergencies) use your smartphone. But try to do everything out of work hour (before, after and during lunch).
- If you have a day-job you won't have an ideal startup management. Accept it. So forget about mentors, you won't be the co-founder doing the fundraise with investors (if all the co-founders have day-job, there would be no fundraising at all). You will try to prove the concept, maybe some traction. Only when you quit you start fundraise (if you need it). Meeting with clients, only on lunch. Meeting with co-founder, only in the evenings and weekends (if your co-founders can't do it, than you have a deeper problem here).
- Urgent emails only through smartphone. And be criterious about "urgency".
- If you are founding a startup with a day-job you must have already decided that, at the first time possible, you will quit your job to work full-time. There is no "consideration", it must be inherent to found a startup. And about the criteria to do it, I think the best one is enough revenue or funding to pay your own salary. But set a reasonable goal for your salary, don't expect to make the same as your day-job, calculate your minimum life cost possible and that's it. Funding is good, but if all co-founders have day-jobs, it will be just a illusion, so don't consider it.
If you start to manage better your risk-aversion, you may use the traction criteria. When you discover that you have a product people want, do some math with your reservers, calculate how many months you can go without income, if it is more than 6 months, go for it