It takes lot of inertia for you to start your own venture. Not just on idea or, finding a co-founder even personal situations need to be thought through before you start. After i jumped-on i get asked by lot of friends- What should be the right time or stage to jump full time on a startup idea.
I wanted to share my thoughts and experiences. Once again like my one of the previous posts, my thoughts are very much applicable to a particular group, the group i defined here. But after starting up I’ve very young friends, some almost half of my age. So i want to address the question for both groups. So lets tackle the easier one first…
a. who has recently graduated (<2 years),
b. who doesn't work for big multinational such as google, microsoft etc (not that i hate them but with such nice environment, luxurious offices, and excellent employee benefits) you are spoiled kid for a startup!
c. whose family (parents) is ready to help you sustain for next 2 years.
If you have you got 2 out of 3 ‘YES” — then my suggestion is you must give it a hard try as soon as possible. Find a mentor, team up with a friend, clean-up your disk & get rid of all previous seasons of game of thrones- Welcome to the Startup World. Your risk is very very low and there is no need to do it as side-project. You got 40–50 years of professional career, so spend next few years on your start-up with laser sharp focus.
II. Again as i discussed in a past post, if you have spend more than a decade in a settled job, and have direct family responsibility then it is lot more complex to quit day-job to pursue your startup idea. The simplest is that if you got your finances (apart from exigencies) in place, idea and co-founder are figured out, then you don’t need to worry, you are almost like the first group with just few years of lag.
But if you are still undecided on many things then you have lot more variables to handle, here is a 7-point plan for people like us before quitting the day job:
And in the end i want you to know that some of the great products such as Craig-list, Buffer, and GitHub were built as side-project. SO it is possible to build your startup that way, you need planning, execution and right timing to jump-on full time and hopefully things will fall in place.
Would like to leave you with 3 small quotes as well
Things which you hate to do make you a better person — Discipline, Hardwork and exercise are just few examples
What doesn't kill you makes you strong
Be a Dreamer
To read more startup stories please visit here https://medium.com/me/stories/public