| You haven’t really said much about your personal situation and in this scenario it’s very important. - Do you have a family or other dependents? - How much do you have in savings? - Could you fall back on e.g. moving in with parents in the very short term if things go horribly wrong? Entrepreneurship is a wonderful adventure but at a very base level you need to be able to put a roof over your head and eat. As long as you’re able to do that even if your business completely fails, go for it. If you don’t, take the safe option, build up savings, then go on your adventure. Also, to be blunt: is your idea any good? Do you have domain-specific knowledge you’re able to leverage in your market? I sometimes find people who are putting the idea of entrepreneurship ahead of any specific concept fail because they’re not actually passionate or well positioned, they just want success. Taking a job also isn’t wasted time. Going back to the criteria above, in my day job over the last few years I’ve identified a few SaaS concepts I know my employer would very gladly pay for, and I imagine others would too. I’m not in the situation to execute on any of it right now so I’m going to stay right where I am, but I hope to pull the trigger sometime in the not too distant future. |
And, if you are in the US: Does your spouse have health insurance and a salary that can help support the family? Do you have kids in high school getting ready to start college (runs about $30k-80k per year living on campus)?
Family finances aside: If the product has true potential - meaning customers not only say they like it, but they are ready to pay on the spot - then look for ways to keep it going.
FT job or consulting are potential solutions to the income problem. No shame in doing either, despite what VC crowd might say.