2012-08-21

Entrepreneurship: Full-time or Part-time?

Someone asked the following question on LinkedIn: "Is it possible to successfully start-up a company while working on a full-time job?"

Here's what I said - what do you think?

"Although we have this mythology built up about "all in" startups that raise venture capital and work 20+ hour days, most "successful" startups (that is, those which ultimately become large businesses) actually began as side projects while the founder(s) continued working on something less risky full-time. This allowed the founder(s) to develop the venture to the point of market validation, prototype milestone, or some other inflection point to reduce the risk (or perceived risk) of taking the entrepreneurial plunge.

Even so, I advise potential entrepreneurs to take the plunge immediately if they believe in the opportunity. By "burning the boats behind you," you create a strong motivation (one that can't be procrastinated around or delayed due to higher priorities) to advance the startup and, even if you fail spectacularly, it really isn't hard to return to the safety net of a full-time job."

6 comments:

Jordan Elpern-Waxman said...

It depends how you define "start." Everyone germinates and researches their ideas while working on something else, but at a certain point - definitely by the time you start to raise capital - you have to take the plunge.

Jordan Elpern-Waxman said...

Does anyone still answer questions on LinkedIn

Bryan Hassin said...

Well obviously I do! Ironically my recent increase in quora activity motivated me to revisit LinkedIn Answers for the first time in years. People are still asking and answering questions there. I like that I can set up RSS feeds for specific topics, which I don't believe I can do with quora.

Veronica Rae Saron said...

Hmmm... I like that thought of burning the boats behind me... kinda pushes me into an absolute no fail zone -- gotta sink or swim.

Veronica Rae Saron said...

Hmmm... I like that thought of burning the boats behind me... kinda pushes me into an absolute no fail zone -- gotta sink or swim.

Veronica Rae Saron said...

Hmmm... I like that thought of burning the boats behind me... kinda pushes me into an absolute no fail zone -- gotta sink or swim.