During a reflection session, I was talking to a fellow Acumen Fellow. He has a great paying job, with a high impact on society, but he wanted to become an entrepreneur and build something even much bigger, but he was afraid to quit his day job and focus completely on his entrepreneurial journey.
This was my advice to him:
“Earn while you build, so don’t quit your day job, just yet. Building a successful startup company is a process, and it happens in stages. So, gradually transition from being an employee to being an entrepreneur. It’s completely okay to act with caution.”
“It may take some time to start earning a steady income as an entrepreneur, and your new business will need a lot of company to take off from the ground. So, keep your 9-to-5 job and work on your business during your off-hours. This helps you to earn during the tough, first stages of your business.”
“Once you have a constant and healthy cash inflow from your startup company, then you can quit your day job and tackle your business full time.”