Some people dream of the day when they can leave their 9-to-5 job and embrace their startups full-time. It's a common success story of many entrepreneurs. They eventually left their job to fully embrace their business, and then they had incredible success.
However, not everyone who left their job ended up with successful companies. Some people left jobs they hated only to be back looking for a job because their startups didn't pan out. That's why one entrepreneur in their mid 20s turned to Reddit for advice.
The individual wants to quit their 9-to-5 job to put more time into the startup. However, the startup does not have any revenue. It only has some users and feedback. Furthermore, the Redditor has enough cash for six months of expenses.
Don't Miss:
- Would You Have Invested in eBay or Uber Early? The Same Backers Are Betting on This Vacation Home Platform
- They Sold Their Last Real Estate Company for Nearly $1B — Now They're Building the Future of U.S. Industrial Growth
Keep It As A Side Project For Now
Most Redditors told the original poster to keep the startup as a side project for now. The main problem with taking the entrepreneurial leap is that the startup is unproven. It's not generating any revenue, and the original poster may lose excitement for it after a few months. The company is still in its early innings, and the Redditor should grind extra hard now to determine if the company still excites the Redditor in the future.
"Keep the job from 9 to 5, work from 5 to 9 on the side project, once it creates enough revenue every month to keep you alive for at least three months. Don't quit," a commenter said.
The commenter also mentioned that it's a grueling schedule, but it's even worse to have no income, burn through your savings, and then have to look for a new job while working on the side project.
Trending: 7 Million Gamers Already Trust Gameflip With Their Digital Assets — Now You Can Own a Stake in the Platform
It's More Difficult To Get A Job
Some Redditors mentioned that it is more difficult to get a job than it was in the past. One entrepreneur explained that they were considering a job after the business didn't grow right away. However, a difficult job market forced the entrepreneur to double down on their startup.
"Getting a job afterwards was proving difficult, so I doubled down on my own business," the commenter said. "For me, I say I am doing alright, I’m getting clients, I still get scared some days because I’m unsure of the next bills. But these are lessons I am excited, eager, and willing to learn and take on in my 20s. For me, this is success, the ability to do this, to enjoy the journey and become what I must become."
While the commenter had a happy ending, not everyone is that lucky. If you need income urgently because you burned through your savings, it can feel nerve-racking to get regular emails about your job applications being rejected. Then, you may be forced to make very uncomfortable financial decisions because you left your job too early.
See Also: Kevin O'Leary Says Real Estate's Been a Smart Bet for 200 Years — This Platform Lets Anyone Tap Into It
Fortunes Can Change
Although jobs do not offer as much flexibility and freedom as a successful business, they provide a steady paycheck. Those wages make it easier to predict your income and create a reliable budget.
Entrepreneurship is more volatile, and even successful companies can go out of business within one year. One Redditor found themselves in that situation and shared their cautionary tale with the original poster.
"Kind of did that. [I] left my corp job to go full-time on my side business that had revenue and was growing. Tariffs and [a] slowdown in the economy pretty much destroyed that. [Are] you hiring?" the commenter asked.
Proving the startup's concept and having revenue makes it easier to take the leap. However, it doesn't make as much sense to leave a job to fully embrace a pre-revenue company.
Read Next: Bill Gates Says Climate Change ‘Needs to Be Solved' — This Award-Winning Building Material Is Tackling It Head-On
Image: Shutterstock
