The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

Is now the time to go all in?

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

Should I go all in?

  • Total voters


Read Millionaire Fastlane
Mar 18, 2017
Hey guys and girls,
I'm writing here because I need advice from experienced entrepreneurs for a crucial decision. Let me just come straight to the point:
I left my old job 3 months ago to create my own business (shot #4 this time). Because of the risks and consequences of the Corona Virus and the impending economic meltdown, I'm now faced with the question:

Should I go back to my old employer to reduce the risks of both Corona and the economic crisis or should I go all in now with my business?

The details:
- I have four-figures saved + very low monthly costs (no debt)
- I can live off my savings for about 26 months and still have 1500€ as an emergency fund (but only if there are absolutely no additional costs. )
- start-up costs are not considered (I'll need to learn some skills in the beginning so this isn't absolutely crucial right now)

However, now there are considerable new risks that I didn't calculate for:
- If there are large medical bills, possible high food prices, etc. I might lose a lot of savings and therefore time. This might force me to get more money. Likelihood: 5/10
- If I would need to earn more money, I might not find a job anymore (my old employer might go bankrupt + everyone else will need jobs too). Likelihood: 7/10
- If things go south I might have no more safety net, because both of my parents are likely to lose their jobs soon. Likelihood 7/10
- Additionally, there might be new reoccurring costs that I might have to take over (medical bills, allowance for parents, etc.)

To sum up the situation:
I might lose the money I have. Quite soon I might have no access to more money and I might also have no safety net to catch me.

This means two things:
#1 These are ideal conditions for an All-In.
#2 The risks are far greater than before. If it doesn't work I might have to file for bankruptcy or worse.
(unlimited upside, possibly unlimited downside)

However, going back into employment has its own risks:
- I have a tendency to really like comfort, so I might just work on my job and not on my business
- I might just stay in my old job after the risks would be lower again
- I might never have this opportunity again for whatever reason (now I wish I was more serious when I was 18 so I would be in a better situation now. Who knows what happens when I'm 25 (in 4 years)).

My options:
#1 Go all in with the business.
#2 Go full time back to my old employer while also working full time on my business.
#3 Go half time to my old employer and work full time on my business.

Are there other options I don't see?
Am I over- or underrating any risks?
Did I forget any other important risks?

I appreciate every sound opinion. Thank you for helping me get a new perspective on this topic.

Greeting from Spain

Don't like ads? Remove them while supporting the forum. Subscribe.


Platinum Contributor
Speedway Pass
Nov 11, 2016
Canada (Vancouver)
if you have 2 years saved up this is a super dumb question, yes just go for it

Bruno Calisso

Read Millionaire Fastlane
Mar 26, 2019
Hola amigo,

if you are a little bit insecure about the future and being that you're financially safe for now I guess you should go with your 3# option and get a part-time.

You will get your basic expenses paid and still have some free time to hustle.


Legendary Contributor
Read Millionaire Fastlane
Speedway Pass
Dec 26, 2014
Chicago, IL
It depends on your business. If your business isn't affected by corona, then go all in. If it is significantly, then take a step back and get a job while looking for something else.

But you have 2 years of savings saved up. Just got for it.


Silver Contributor
Read Millionaire Fastlane
Speedway Pass
Mar 3, 2020
You can't predict what is going to happen, especially using "if". I think you should estimate your business' chances to survive in recession times. If you can make it work, by all means do so.


Read Millionaire Fastlane
Mar 18, 2017
You can't predict what is going to happen, especially using "if". I think you should estimate your business' chances to survive in recession times. If you can make it work, by all means do so.
Thanks for the pointer @mon_fi

I'll consider it


Gold Contributor
Speedway Pass
Mar 1, 2016
Could you do in half time what you would do going all in?
(Meaning, would you really need all the time you'd got when going full time?)
Last edited:

Sponsored Offers

  • Sticky
MARKETPLACE Fox Web School "Legend" Group Coaching Program 2020
I'm on the fence with joining. I've been job searching for about 2 months and I can't get hired...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
If you read the last message then you know I'm removing my courses from Udemy next month. You...
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
PS. what do you think about the idea of setting up live Busking experiences on Air BNB? I could...
  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
Hi Mj, I just bought it. And reading it. I think is a great idea to write using the stories to...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Just got off the phone with @LightHouse. Having just a 45 minute conversation with him has...
  • Sticky
MARKETPLACE Kill Bigger Incubator
@Kak Thanks for the reply. Whats interesting is that I have an idea that's been cooking which...

Forum Sponsor


New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom