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.

I always go back to that “Coffee is for Closers” scene in Glengarry Glen Ross and even in today’s business (especially in today’s business), it does take a lot of brass chutzpah to do well in business.

I know many other businessmen will be saying that there’s no need to dupe poor schmoes to sell. But one way or another, the population still consists of people of average and with a bit more guile and that killer instinct, you are bound to make money from them.

And it’s not just with the customers. There’s also the competition. We now see this in the form of big business stomping down mom and pop shops. How many local grocers have been shut down by those huge superstores?

So do you think you got the killer instinct? Can you sell to Average Joe for a premium even if you know he can get a better deal elsewhere? Can you shutdown or takeover competition?

Probably worked for good ol’ mom and dad or gradnma and grandpa but in today’s day and age of recession, inflation rates and consumerism, and your 401k might not give you a decent lifestyle after your decide to retire at 60. That means that you have to be able to save up more than you think you need at that point in your life right now.

Now quite a number of people would ask, “With a 9 to 5, what else can I do?” Some people take up second jobs but by experience and observation, it is tough and stressful to pick up another one. You need not kill yourself for that extra money. So what else can you do?

The key to extra money without killing yourself and still having the stability of a 9-5 is to earn passive income on top of your monthly wage. Passive income, according to the IRS, is money that comes from “trade or business activities in which you do not materially participate.”

This can come from a business that you don’t have a direct hand running or operating or rent from a property. However, if you’re not blessed with the capital or inheritance to have any of these, you can still explore ventures that could give you passive income.

Stuff like Internet advertising or royalties from writing a book. And you can always combine both. Web 2.0 has become a cottage industry of sorts, really. Put up a blog, gain some traffic, monetize, you might be earning an extra $100 a month with just an hour of extra work each day.