I have an old childhood friend who messaged me via social network wanting to meet up with me to discuss business, reminding me that “No one got rich by being an employee.”
Haven’t gotten around to message him back, perhaps, it’s because I don’t believe in what he said. Heck, I was able to manage to build my emergency fund on a paycheck to paycheck basis so I refuse to believe that one has to quit one’s day job to get rich.
The sway of quitting to focus on a start up is always a gamble. If you have enough capitalization and you think your business plan is solid then sure, you might be able to quit your day job in favor of going into business full time.
However, the reality is, many small business owners would sometimes resort to taking on projects and clients to be able to create additional capital. What better way to help build capital and sustain yourself if you have regular income?
My take is if you can manage to start a business on the side while keeping the steady paycheck, then do so until you’re able to test the waters.
If business is picking up and you’re confident that giving focus on it will be for the best, then prepare for your transition to being a full-time entrepreneur.
Mind you that a month of good sales or a single project isn’t exactly an indicator that your business will soar but if you’re willing to take the gamble, then take it with your best informed judgment.
