Jake Hare is the founder and CEO of Launchpeer.
Everyone’s heard the story. An ordinary person has an amazing business idea, quits their job to pursue it and succeeds beyond their wildest dreams. Swinging for the fences like that is what being an entrepreneur is all about, right?
Not so fast. I get the appeal of marching out of your cubicle and diving headfirst into your passion project. Still, that’s not always the best way to begin a startup. I think you’re much better off pursuing hybrid entrepreneurship—moonlighting or going part-time—until your new business is established enough to demand your full attention.
Quitting puts you on a countdown clock.
This is the most obvious reason not to ditch your day job. Without a regular paycheck, you can only work on your company until one of three things happens:
1. You start turning a profit.