Many first time entrepreneurs treat the launch of a new business as an all-or-nothing proposition. They believe that they must be 100% committed to the startup. They quit their job and invest their life savings into the new endeavor. This is a mistake.
Technology startups are inherently risky. Even with the strongest team, the best market opportunity and the most differentiated and complete product, the odds against you are still quite high. Why risk your career, your entire financial position, and possibly your family to pursue such a risky undertaking?
There is another way.
Start slow and bootstrap. Work nights and weekends. Find a group of friends to share the workload. Talk to customers before you build your product. Create a minimum viable product and get feedback. Come to the ATDC Bootstrapping Circle to learn more.
Think of entrepreneurism as a dimmer switch. Gradually turn it up until it is bright indeed.
(As an entrepreneur, one of my heroes is Clark Howard. He inspired this post and coined the phrase “Entrepreneurism is a not light switch”.)