From :The Ultimate Cheat Sheet to Starting and Running Your Own Business - Altucher Confidential
3a) Should I go for venture capital money and then quit my job?
No, turns out many successful businesses were started by people who did not quickly quit their jobs.
Starting a business is not about taking risks. It’s 100% about risk mitigation.
Don’t risk your livelihood. Larry Page stayed in graduate school for an entire year or so after he started Google.
Steve Wozniak stayed at Hewlett-Packard because he didn’t want to give up his safe job.
I am not Larry Page or Steve Wozniak, but my first successful business sold for $15 million. I stayed at my full-time job for 18 months before leaving for my business.
By the time I joined my own business full-time, we had about 12 employees and were completely funded out of profits.
That’s when you can start thinking about raising money.
But first friends and family money, then angel investor money, then VC money.
Don’t be an amateur.
3a) Should I go for venture capital money and then quit my job?
No, turns out many successful businesses were started by people who did not quickly quit their jobs.
Starting a business is not about taking risks. It’s 100% about risk mitigation.
Don’t risk your livelihood. Larry Page stayed in graduate school for an entire year or so after he started Google.
Steve Wozniak stayed at Hewlett-Packard because he didn’t want to give up his safe job.
I am not Larry Page or Steve Wozniak, but my first successful business sold for $15 million. I stayed at my full-time job for 18 months before leaving for my business.
By the time I joined my own business full-time, we had about 12 employees and were completely funded out of profits.
That’s when you can start thinking about raising money.
But first friends and family money, then angel investor money, then VC money.
Don’t be an amateur.