I am a serial entrepreneur, and ultimately built a multimillion dollar business. However, it took me several tries before I got my 1st business that would support me without working another job. My 1st recommendation is the opposite of what most people are told these days. Many people believe that a real entrepreneur trusts their vision so much, that they quit their job to work on a full-time. Personally, I feel that is too risky. To be frank, the odds are that your very 1st try will not be successful, and even if it is, you're probably going to have to pivot numerous times to make it successful. If you don't have a source of income, you're going to put an enormous amount of pressure on yourself that you don't need. You will already have the enormous pressure of making the business survive, and you don't need more.The way I did was I worked my full-time job for 40 hours and then I worked my 2nd job on my business for another 30 to 40. I realize this doesn't work for everyone… I was fortunate because I didn't have a family or significant other. If that's your case, then I recommend taking on a 25 hour a week job. (another person posted similar advice, but I strongly disagree with their suggestion to pick a job that so horrible it forces you to get your business to succeed. You will already have plenty of pressure. The key is to pick something that you would be fine doing for a while… And then if you are fortunate enough to have traction, then you'll be doing great. And if not, it will give you lots of room to explore different options.) Another option is to work freelance jobs (although this is a better option if you are in an emerging economy, rather than a mature economy where the relative pay is not as hot). If you'd like some specific advice for your situation, give me a call here on Clarity.

Answered 7 years ago

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