{ "media_type": "text", "post_content": "Am I crazy for wanting to quit my job and start a company? Like full on move into my parents basement, live off my savings and just build? I am on track to make 200k per year at my current role but nothing excites me more than inventing things.", "post_id": "61b3819e310db70026269406", "reply_count": 69, "vote_count": 71, "bowl_id": "5b0ec788cf11a800139f9490", "bowl_name": "Startups and Entrepreneurship", "feed_type": "bowl" }
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Am I crazy for wanting to quit my job and start a company? Like full on move into my parents basement, live off my savings and just build? I am on track to make 200k per year at my current role but nothing excites me more than inventing things.

likeupliftingsmart
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I took a new job a few months ago for a good (but not eye watering) increase that I knew would probably not take up all of my time and energy during the week. I've started to build a very bare bones mvp with one of my friends and once we feel like there's enough there, probably quit our jobs to commit to it full time. Imo that's the safest route to make sure when you do quit, you have a clear starting point so you're not wasting time.

Starting your own business that gets some traction will have a way better career ROI than getting an M7 MBA. So committing a year or two if you think you have a solid idea is a no brainer if you were willing to spend on an MBA in the first place.

I realized that not much else would get me truly excited career wise anymore. Unless I worked for some god-tier product/engineering leader that invented some revolutionary technology, I'd rather learn from my own mistakes. Even joining FAANG, you'd likely be working for a good but still "ordinary" manager now that there's so many layers. Getting standard raises to buy incrementally nicer material things is also boring now. I want to own a company, even if it's just a small one

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Do it! But be prepared… started 6 years ago more or less with a little one and one on the way… it was now or never… received no support or empathy for the struggles i was facing from nobody really nobody, i was scared and many nights i was considering just dropping everything and go back to my safe space. everybody just assumed i was nuts for leaving a good paid job having kids and would be back at my engineering position within 6 months. All this fueled my persistance and discipline to make it work… this took me over 2 years to have a minimum amount of success living from paycheck to paycheck, dropping all my vices, stressing my wife out, being chronically grumpy but if you believe in your service, invention or whatever it is go for it.
Best thing ive done was asking one of the past directors i worked with to be a mentor from time to time… i mainly used his soft-skills to learn from and on how to approach certain situations with employees and customer… have no people skills i just fix things so this was a must have skill i needed to learn.

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Go for it, sounds like you’ll regret not trying

likeuplifting

This is coming from someone who started their own thing about 6 weeks ago. Still have my day job for the time being but I’m thinking of switching to a new role that requires less out of me

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I’ve read 10% entrepreneur and I understand it’s probably safest to do this route. I know start ups fail all the time. But for the past 2 years I have wanted nothing else. The feeling has never went away.

I work in tech M&A and I see companies being sold all the time. I think this is why I have been itching to try it out

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You really won’t lose anything by trying. If you succeed, you’ll fulfill your dreams and desires. If you fail, you’ll gain experience and can go back to your $200k job

likeuplifting

I left my 9-5 2 weeks ago and working on my practice. Look, it took me years to decide but I was burning inside wanting to do this but was always scare like you feel today. My word to you is this : would you like to get old and think "I wanted to build that company but never did cause I was afraid to fail". Or You rather be this : " I wanted to build a company, I had a career before making good money but I felt miserably because I wanted to run my own show. One day I resigned and started working on my business. I didn't make it at the end, but with my credentials I was able to get employed again and reinvented myself for another try".

Decide who you want to be: Who tried and failed. Or who never tried, didn't get to know if it was going to work and now is too late? MAKE IT HAPPEN! You can always find a job again until you want to try a business again. Wish you the best 👏🏽 bud

likeuplifting

You’re totally sane! If you don’t have a bunch of responsibilities, go for it. My entrepreneurial dreams have been deferred a little, and I have much more responsibilities (a family) now. So while I intend to do the same one day, sounds like you are in a position RIGHT NOW to chase your dream. Don’t let this window of time pass by. Good luck whatever you decide!

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My husband and I did this. Instead of parents basement we bought a travel trailer and big truck to pull it. He is the inventor, we saved up 5 years of living expenses, and now we work fully remote and travel around to various state/federal parks. We were making around 250-300k pre quitting, and now we are making about half that but I’ve never been happier

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Spend as much time laying the groundwork for your business (during nights/weekend) at your current employer. Having extra runway for the start up helps quite a bit

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Do it now while you have the luxury to fail hard. Not saying you will, but externalities will pile up and the more you make the harder it will be to walk away (especially if you end up with dependants).

Or, think of it this way: what will 10-years-from-now-you think about you not doing it now?

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DO IT! I grew my agency over 800% this year and it has only been open 10 months.

I graduated with my masters in advertising from SCAD Atlanta in May of 2020. I was terrified and scrambling to find a job. After months of searching, building new portfolios to attract, applying, and interviewing, I never landed what I was aiming for. Decided to do my own thing because of the headache.

It was the best decision I’ve ever made! My agency is multi award winning, and now I’m on track to make $500,000 next year. (That’s the small number BTW as I have contracts that yield more in the pipeline).

Bottom line? FOLLOW YOUR DREAM. I’m living proof not only can it happen, you can absolutely succeed. 💯❤️💐

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Na you aren’t crazy. Doing what you’re passionate about > working for a paycheck and not enjoying life...

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You won’t regret it. Until you do. But then you will have learned so much and will do it again. So do what you love.

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What type of company do you want to start?

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If you've done research and actually determine your product market fit then yes!

Keep your day job. Work on your business as a side at night. Once you feel like you can take off, then quit. We had a lawyer who started another business on the side, it didn't went through, but he was still with us, so everything was good.

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There's something to be said about betting everything in your business, there's also a lot of stress associated with it. It all depends on the confidence you have on the new business and how much risk you're willing to take

Do it! Do it before you have kids….

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If I were you, I would take a remote job that might or might not result in a pay cut. Then move back home and put your income into the development of a product. I was a founder that left PE. If I went back in time I would have switched to a more relaxing job with flexibility and poured my salary into accelerating development / overcoming mistakes.

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…I read what you’re doing - I’d love to try it

For web/affiliate sales, I recommend making it a side gig till you have traction. Here’s how:
1- hire a solid offshore web developer to build your site, they work while you sleep, and it’s inexpensive
2 - once the site is working well and you like it, hire SEO and marketers to promote the site
3- start producing your own content, like videos etc, build a community
4- if after a few months affiliate commissions aren’t enough to cover you (they may not - it’s harder than it seems) consider white labeling your own beauty brand. It’s easier than you might guess and you’ll want to sell a product that has higher margins. If you don’t want to do fulfillment you can get someone else to do that

Sound like a great technology. It’s just a biz that I think can be easily launched on the side and there is risk that it won’t grow quickly enough to support you - which can lead to frustration, financial stress and quitting too soon.

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Do not second guess. You can always be a good employee later. I tried not to get confirmation from my successful employee friends. Find sone entrepreneurs to talk to. If you become successful $200k, would be nothing. Now whether you quit your job today or few days later, you need to figure that out. Every Entrepreneur had to figure that out based on the type of venture and need. You have to see what you have and what you need. May be you do not need to quit today.

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Do it !!!! 💪

likesmart

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