When is it time to quit my day job? | Hacker News Reader

When is it time to quit my day job?

4 pointsbeachgeek7 comments

Hello all,

I had written this earlier: http://news.ycombinator.com/item?id=3011961

My site is ready and mostly bug-free now. I'm getting decent traction (non-friends and family!), and even got a fairly decent write-up in a tech blog.

There are 2 other sites that got funded (one angel, one VC) that actually started way after me. We've been working part-time though, so they're in some ways ahead of us...but we're different enough from them to compete etc. etc. In a way having some competition is a good thing because it validates your idea.

I'm thinking I should cut loose from my day job and focus on this project full-time. I ran my finances very carefully yesterday and if I juggle things around a little I can support myself via consulting for 2-3 days a week. Market the site etc for the remaining part of the week, get more traction and maybe even funding.

But I'm a little nervous, and wanted to know what everyone thought. Note that I have a mortgage etc. I can't move back in with my parents :)

I've just taken the plunge. Its been 30 days so far.

My plan is to consult 2/3 days a week and work on my startup the rest of the time.

So far I've had so much consulting work I've been working 6 days a week on that!

I'm not sure how this is all going to go, but what I do know is that I'm much happier not working for 'the man' anymore.

Many people have had the experience of trying to mix consulting and startup activities and neither succeeding.

Risk aversion varies greatly for people, from my perspective it would appear you don't have enough runway to take-off and fly this startup yet. How long before you could build sufficient reserves to not need to do consulting?

Great point. I'm definitely going to need some funding to make money. The only thing consulting will buy me is additional time to market the site/hack and get more users.

You could hire someone to market the site for you which would allow you to keep your job, give you more time to develop the site, and you'd take less risk.

Risk vs. reward. It's hard for us to determine what the correct answer is without having the necessary information and numbers.

But good luck!

Funny, that's what my wife said too. I noticed from your other post that's what you do. Are you open to a phone call? :-)

"In a way having some competition is a good thing because it validates your idea."

No, it doesn't. Many people can be wrong about the existence of a market/problem. But to answer your question, "when you earn from your startup as much as you do from your job" is quite a safe point.

Oooooooooooo brother. Don't sign mortgages! Stay footloose. Because of that mortgage, you're going to have to tread carefully. Otherwise, I'd tell you to drop that job like a bag of dirt!

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