[ehedberg]

1. Network extensively. Not just with fellow tech entrepreneurs -- you should also make friends with the local small business community in general. They've done this the hard way, they've been where you'll be, and they have useful friends.

2. Scratch an itch. If you can build a product yourself, you're in better shape then most of the funded startups out there. If there's something you want to do online, the odds are that you can both a) do it right, and b) find enough people on the the internet who also think that you're doing it right to make some money.

3) Figure out how to cut your expenses to the bone, now. Ideally, and this may be tough in LA, adjust your lifestyle down to the point that you and your family can live on your wife's salary. Sock the money away somewhere you won't touch it, but that there won't be tax consequences if you do.

4) Get laid off. Ok, that's a reach, but trust me, there's nothing quite like walking out the door with your finances already in order, your vacation paid out and severance in the bank, and still qualifying for unemployment to be able to bootstrap a startup.