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I think it depends if you can fund it yourself. If you're relying on external funding in the near future it might be hard. If you've got the cash to fund it y
by adamt 18y ago
I think it depends if you can fund it yourself.
If you're relying on external funding in the near future it might be hard.
If you've got the cash to fund it yourself, then there is a case that it's a great time to start a business.
- Skeletor 18y agoYes, me and my co-founder will be bootstrapping for at least the first year. But our plans are to become cash flow positive in 6 months. I can probably survive for 3-4 years with no job, my partner at least 1 year.
- DanielBMarkham 18y agoI've moved in and out of high-paying consulting jobs and startup work a few times. If you can afford to take 3-4 years to give yourself some runway, and you're willing to do that, then absolutely, go for it.
- adamt 18y agoIn that case you are well placed to give it a shot. There are few certainties in life, but you are not in a bad position. A few months ago I was in the same position as you, was procrastinating about quitting, and ended up getting made redundant as a complete suprise. Personally I haven't looked back. Nothing is guaranteed, you need to personally decide more which you will regret most: quitting now, taking the risk and going for it, or waiting till till later when the economy might be better, but then you're personal circumstances might have changed. At the end of the day - it has to be your decision, but if you do genuinely have 3-4 years of cash, then go for it!
- cmos 18y agoThat's a great runway.. you have enough time to fail a couple of times!
- potatolicious 18y agoThe above comment is inspiring to me - and I think epitomizes why Americans have been so wildly successful in the tech realm. Up here in Canada... well, a very wise entrepreneur in Toronto once told me: "Up here they ask you how many times you've succeeded. Down there they ask you how many times you've failed", and I think there's truth to it. Anyways, just something that struck me.
- delano 18y agoCanada is much more self-conscious than the US. Incidentally, that's probably one of the reasons why we excel at comedy.
- bprater 18y agoGo for it. And work like you have 3-4 months of savings. Getting comfortable is a very bad thing.
- calambrac 18y agoYou have 3-4 years socked away and you're wringing your hands over this decision? I think the answer is no, you shouldn't. That kind of runway should make the decision an absolute no-brainer if you really want to strike out on your own.
- delano 18y agoAre you advocating a one-sided view of big decisions?
- calambrac 18y agoNo, I'm advocating being realistic about your tolerance for risk. If 3-4 years of runway isn't obviously long enough, then you probably don't have the stomach for a startup.
- delano 18y agoYa that's fair, but it's reasonable for someone to ask a question without being judged.
- calambrac 18y agoWho's judging anyone? He asked if he should leave his job to do a startup, I said "probably not" based on the fact that he's hesitating even though he has a really long runway.
- delano 18y agoEveryone tries to be realistic about risk tolerance. I'm more concerned about people who don't hesitate over big decisions than those who do.
- calambrac 18y agoOkay, fine. I'm more concerned about people who have 3-4 years of runway and still aren't confident enough to jump into a startup without first consulting a website full of strangers. To each their own.
- bigbang 18y agoIf thats the case(sounds like a good runway), my opinion would be to go for it.