Would I be crazy to quit my job now ?

Cambodia
January 21, 2008 5:58pm CST
I'm so sure I will succeed in my online venture because I have so many ideas of not yet taken niches and web innovations that I feel like I wanna quit right now a very good IT job in Europe. Would I be crazy to do so :)
5 people like this
8 responses
@omupas (1243)
• United States
22 Jan 08
I don't think quitting your current job is a crazy idea if you are doing it to pursue your entrepreneurial career. However, there are a few things to consider before making the leap. First you want to make sure you have at least a 3-6 month reserve of current expenses. Be sure you account for all of your expenses for 1 month. Multiply that number by 3-6 months. I suggest 6 months depending on how much outside income you already have coming in. By having a reserve, you can account for all of your bills while establishing your business. The last thing you want to happen is that you run out of money, and have to go and find another job. When you have a strong financial backup and you also know that you can no longer do any more for your business in the time you have outside of the job, then it's time to make the move and start up your venture. Hope this helps.
1 person likes this
• Cambodia
22 Jan 08
Very good insights, thanks a lot !
1 person likes this
@omupas (1243)
• United States
22 Jan 08
No problem. I left a very good position that I had with a company a little over a year ago to start a company myself, so I know what it's like to be torn in this decision. In the end, only you will be able to answer your question, but follow your gut instinct along with using your common sense and everything will fall into place :) Working for myself has been a dream come true for me.
1 person likes this
• Cambodia
22 Jan 08
Congrats to you that you did have the gut to do so because I don't have it yet as long as I can't find some assurance or help :)
1 person likes this
@stephcjh (32327)
• United States
22 Jan 08
I say to go for it if you feel that confident about it. I would do it myself if I was very sure i could make it work. Good luck.
• Cambodia
22 Jan 08
Well what I want to do is buy a big established websites around 10000$ each so It's not a small venture. I can't really do that on my own if I must keep both jobs.
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@stephcjh (32327)
• United States
22 Jan 08
Right. I would do what you feel is best for you and that you know will indeed work and satisfy you. I would definitely choose to work at home rather than to pull the 9-5 for someone else.
• Cambodia
22 Jan 08
Happily it's not 9-5 but 7-5 in my european country :)
1 person likes this
• United States
22 Jan 08
Yes you would be out of your mind to quit your job now. My advice is start your ideas up and when and only when the money you make from your web ventures exceeds the money you get in your paycheck is it ok to quit your job.
• Cambodia
22 Jan 08
Well my paycheck is very high so I have estimated that it would take me 5 to 10 years to reach the equivalent of it if I keep doing both because of lack of time, dedication etc. If I quit it now I would have more time ... but sure that having no more a stable salary is a risk :) So If I want to keep both, I have to find a solution? I'm thinking about looking for business partners : do anyone know some sites or forums for that ? I'm on sitepoint at the moment.
1 person likes this
@omupas (1243)
• United States
22 Jan 08
You can also try startupnation.com They are a forum filled with people who are starting up new companies, both online and offline. There is a large resource of tips and advice available there as well.
• Cambodia
22 Jan 08
Wow didn't knew this website, just look at it seems great place for me thanks again !
1 person likes this
@carmelanirel (20979)
• United States
22 Jan 08
I wouldn't quit unless you have something to fall back on, but then again some have throw all to the wind and it was good.. It depends on what you have on the back burner to keep you going until your business strengthens..
• Cambodia
22 Jan 08
Normally in my firm one can quit for one year and then come back if one didn't suceed but you must have worked at least six year there and I've been only there for 2.5 years :(. Maybe they can make an exception but I don't dare to negotiate with them because they could get afraid of the idea of me quitting and they would look to recruit someone else to replace me.
1 person likes this
• United States
22 Jan 08
Yeah, if I were you I would wait. but if you do end up with something that is successful, then I would quit..
@JanMags (726)
• Philippines
22 Jan 08
you wouldn't really be crazy. there have been people in the same situation who have succeeded but in my opinion you should be careful. i also quit a very good job for online work. unfortunately things didn't work out for me. you should at least try to work your two jobs at the same time for now. quit your IT job if you have already achieved some success with your online ventures. be careful. best of luck. cheers
• Cambodia
22 Jan 08
Well I've already been in true business in the past with a company I founded so I know what business risk is about. So I know I must be carefull but I know myself: when I'm sure of something It's because I already know WHAT and HOW I would do things so It's not just I wanna be rich :) As I said above I may be looking for partners, maybe you could be interested ?
@JanMags (726)
• Philippines
22 Jan 08
yeah i was thinking that you knew what you were doing when i read your post. after all, you are in IT. that means you have more than average knowledge about stuff that go on online. well, i don't know, maybe we can see if i can be of use to you or something. i'm an online writer right now. i've been writing website articles for a local company but they haven't been paying very well. send me a message if you think i can do your business some good. :)
• United States
22 Jan 08
I am in the same dilema. Only, I don't want to quit, only take a leave. I think I have decided not to though. I really like having a paycheck come in on a certain date. I can depend on that. I have bad luck it seems so I would probably lose everything if I quit.
• Cambodia
22 Jan 08
Yeah I really understand you. Well do like try to find business partners :)
• United States
22 Jan 08
I just dropped out of College in my final year of schooling to pursue my online ventures because I am downright absolutely determined and positive that they will pay off. People call me crazy, but I say let them think whatever they want. I know many people go their whole life never following their dreams because of fear, doubt or because they let other people or society rule their lives. I say that if you have carefully thought about this decision, and think you'll have enough money to get by until you begin seeing profits from your online ventures, I say you wouldn't be crazy. If you are sure that you will succeed and determined, I believe you will!
• United States
22 Jan 08
What is an IT job. if your able to care for yourself and your household bills? I would not think you would be crazy. You must have some scene of how your going to manage.
• Cambodia
22 Jan 08
IT = Information Technology :) Thanks for advice, that's true.