Why you should keep your day job!
We are young and furious to start something new, a new startup, to win over the world and we want to move fast, very fast, to realize our dreams. But the reality is not similar to dreams, it has practical obstacles and many things which are not in our control, realizing a dream takes a lot of time and money.
Quitting job surely gives you more time to work on your startup and you can do so many amazing stuff in less time but in practical, things are not so simple. The startup is full of unknowns, nothing is sure, we are not sure about target customers, we are not sure about funding, we are not sure about product/market fit, we are not sure when we would be able to launch and along this all unsure and uncertain time, you need at least few things certain and one could be your paycheck. You need to pay your bills and you need some minimal amount of money to spend on your startup operations also. At this stage nobody is going to give you money, at least until you prove your idea is worth it and investors can make 10x out of it, until then you have to survive your own and if you don’t have enough savings, which can feed you for months, its the best option to keep your day job.
When we start a startup, the startup is not the idea, the idea may change. The startup is the team which is assembled to search for viable, repeatable and scalable business model, we create some hypothesis and test them through customer interviews, if hypothesis proved to be wrong we change business model quickly to align to new found facts. Based on customer interviews, you may have to abandon your current idea and need some time off to think about a new idea and start a fresh, in such scenario your job would support you and prevent you from freaking out.
To build something new and amazing you need a lot of time and with full time and demanding job you cannot spend much time on building your startup. So what could you do, one solution is to find another job which is less demanding, you may have to take a little pay cut but it is better than having no income. You have to align your new job with your startup, so that you can spend more time on building something amazing and at the same time you can pay your and your startup’s bill.