Should I quit my job to start a business? I'm so conflicted.
I'm 30, I have $15K in savings, no debt, and a stable job paying $65K/year. I have a business idea that I've been researching for a year. I think it could work but I'm terrified of failing and losing everything. My wife supports me but she's also scared. Should I quit or should I start the business on the side first?
1 Answer(s)
With $15K in savings and no debt, you're in a much better position than most people who ask this question. Here's my honest take:
Don't quit yet. Start on the side. You don't need to choose between your job and your business. Give yourself 6 months of evenings and weekends. If you can get even 10 paying customers in that time, you have proof of concept. If you can't get 10 customers working nights and weekends, imagine doing it full-time with all the distractions.
The math: $15K in savings gives you about 6 months of runway at minimum expenses. That's enough to test, but not enough to survive a slow launch. You need at least 12 months of runway to quit safely.
My recommended plan: Keep your job. Build the business for 6 months. If you hit $3-5K/month in revenue, THEN quit. Your wife will feel a lot better too.
The biggest regret people state on their deathbed isn't failing at business — it's never trying. But \"trying\" doesn't mean quitting your job tomorrow. It means starting tonight.