should you quit your day job for your

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www.cynthiakocialski.com Should You Quit Your Day Job For Your Start-Up Business ?

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Post on 15-Aug-2015

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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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