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Ask HN: Should I quit my job and start up? Need Advice
I've almost decided to quit my Job and start something of my own. I currently make $48k a year and it's pretty good amount in India. I currently need to make at least $2k monthly to pay for my house mortgage and personal expenses.
What are the options to make decent side income? Should I take up a part time/consulting job? Can I find any remote jobs which can pay me $2k a month? Need suggestions. :)
- bgnm2000 11y agoI think the first question is how long will it theoretically take for your startup to generate $2K/month for you? What does that timeline look like? Its easier to make a plan when you have the details laid out. Can you save $x/month and give yourself some runway etc.?
- m_g_i 11y agoGenerating $2k a month might take anywhere between 6 months to a year. There's always some possibility to fail, but that's what starting up is all about. I currently have enough savings to keep me going for next 3 months. Paid most of my savings towards downpayment for my apartment.
- sharemywin 11y agoNo. work on something part time until you have at least enough revenue to determine Customer Acquisition Cost and Life Time Value of a customer. Then you can come up with a solid plan to get where you need to be.
- m_g_i 11y agoThis is was I was thinking.
- sharemywin 11y agoI would keep your job though. Until you have something firm on paper. I got laid off and thought I could get something bootstrapped in a couple months. A lot harder than it sounds. So, 3 months later I'm trying to play catch up in getting another job. should have focused on that first.