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Quitting that 9to5 or not?

Discussion in 'Ideas, Needs, Concept Feedback' started by NicolasEmi, Mar 2, 2019.

  1. NicolasEmi
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    NicolasEmi New Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Hi guys, how are you?
    I joined this forum almost a month ago, and I have this question that I know you can answer so I'd love if you help me with this.

    So here's the thing. I'm creating a software product with a friend, but first I'm learning the needed languages for the product to work fine. The thing is that I sease every free time in learning that (and marketing and sales theory), but my 9to5 job is currently my primary income source and working there is draining my time. What do you think? Should I quit and keep learning even if I don't make money while doing it? Or should I keep my job and do what I'm currently doing so far? I know this is a common question, but I'm very doubtful about this and I need your help.

    I thank you in andvance!

    Nicolás
     
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  2. rwhyan
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    rwhyan Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    How would you support yourself if you did quit your job? How long could you last?

    In the case that the software does not plan out, what would you do then?

    Have you validated the need for your software? Got prospective buyers? Talked to potential customers?

    ---
    Just out of practicality, I'd say to really consider your finances before quitting your job. I'm all for quitting your job, dropping out of college, etc. but I believe you need to consider how you are going to get food on the table, and consider what you'd do in the worst-case scenarios.

    You can also wakeup at 5:00am and work on software until 8:30am, then go to your 9-5.

    Then work on software from 5:30pm to 9:00pm.

    That is a solid 5-7 hours a day that you would have to work on your software while maintaining your job so you have a stable income AND getting 8 hours of sleep.

    There is always enough time in the day.
     
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  3. srodrigo
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    srodrigo Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    It completely depends on your particular case, and you don't provide many details. What are your monthly expenses? For how long can you survive without a salary? Is that enough to finish and launch your product?

    As an example, if that helps, I did quit my job to work on my projects, but I had savings and moved back with my parents to keep the expenses to the minimum. If I had medium/high monthly expenses, I would have probably kept my day job, or I would have set a deadline before I looked for one in case I quit.
     
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  4. Yuriy Solomonov
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    Yuriy Solomonov New Contributor

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    This full time job is the same issue I have been experience for last few weeks. I have a business idea which meet the global obesity need to be resolve. I started with the business but it still on its very earlier stage etc ets.
    So, as a full time employee you and I are entitled to annual leave and my plan is to use this a couple of weeks to bust my own business.
     
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  5. NMdad
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    NMdad Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Quitting a job to work on a business idea is pretty risky if you don't have savings to pay your bills, and if you haven't done any validation to get customers.

    Like rwhyan mentioned, put in at least an hour daily into your side project while working your day job. Use your day job to fund your side business.

    You day job is your security while you build your business. Imagine NOT having the income from your day job, having no income from your business, and trying to talk to customers--the desperation will drive them away.
     
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  6. NicolasEmi
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    NicolasEmi New Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Hi @rwhyan!
    About the costumers, no I don't have references of potential buyers or so, because my product is a service that brings value to common people. I validated it with people I know and they think it's a very good product (I hope they say that not because they know me lol)

    I think the best option so far is to keep my job for now and work in my free time, because currently I just have money to survive some few months.. I could get a job as a waiter in summer (I live in southamerica) but I think the best option is to keep my current job.. thank you so much for your insight!
     
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  7. NicolasEmi
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    NicolasEmi New Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Hi @srodrigo!
    The expenses are few because for now I live with my parents (good thing is that I contribute with the house taxes)

    Without a salary I could live for 6 or 7 months, and then I could get a job that doesn't require that much time, but no, it isn't enough to finish my product because I have to learn some programming languages :(
     
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  8. NicolasEmi
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    NicolasEmi New Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    It is very true what you say @NMdad !
    The "salary safety" in this times keep me calm... until I have a MVP I'll keep the job
     
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  9. The Abundant Man
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    The Abundant Man Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    I would not quit the job right now. Find some time to work on your fastlane projects in the meantime.

    Also,, I would outsource the coding and software development. It will take a lot of time to learn the programming languages
     
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  10. NicolasEmi
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    NicolasEmi New Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Yed, I will do that, you guys convinced me that this is the best option for now :)
    The outsourcing is a good idea! At least for the most difficult languages I'll need. Thanks!
     
  11. NicolasEmi
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    NicolasEmi New Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    This question came to me though... Doesn't outsourcing violate the commandment of control?
     
    Last edited: Mar 2, 2019
  12. The Abundant Man
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    The Abundant Man Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    It does not.

    I say you're violating the Commandment of time by focusing on learning the programming languages.

    If it was me, I'd pay someone to make the software for you. While they're making the software, you should be out there getting customers.

    Without customers, there's no body buying your software. You don't have a business.

    Sean Marshall from the digital marketing thread explains how a person needs to switch from employee mindset to business owner mindset. A business owner should be focused on sales.

    If you want free time, you need other people to do the work. As good as Fox is with making insanely awesome websites, he still outsources some of the work to others.

    A favorite Youtuber that I watch is Matti. His Youtube channel is all about making videos. He makes the majority of the videos that he puts on Youtube but on a recent video he explained that he hired a video editor so that he can make more content.

    If you want to scale, you need to eventually outsource.
     
  13. NicolasEmi
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    You're right! I had not thought of it that way. I will certainly do more research about outsourcing. Thank you so much!
     
  14. Yzn
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    Yzn Bronze Contributor

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    Many people will tell you hunger will drive your motivation and make you do things you wouldn't usually do. In many ways, that might be true. BUT I've been through this from personal experience, when I had money covering my and family's expenses every month, I was able to flourish in my side-business in a great way. However when that income was reduced and was not enough for our monthly expenses, I couldn't focus one bit on the business. My brain full energy and focus was on how can I make more money, where I was like screw giving value to people I just need money NOW - looking for a job was the best option even if it isn't in my field of study.

    So I thought I should share that with you to better help you make a decision.
     
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  15. NicolasEmi
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    NicolasEmi New Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    It's true what you say, because when we don't focus in value giving, we can not thrive. Thank you @Yzn for sharing that experience! It is much valuable for all of us who read this thread!
     
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  16. Kevin88660
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    Kevin88660 Bronze Contributor I've Read UNSCRIPTED

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    In shark tank they say start a side hustle and keep your job, until it becauses obvious that it is worthwhile quitting your job.

    I agree with that.
     
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  17. Envision
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    Envision Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

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    Dont quit your job until:

    1. Your business can support itself
    2. Your business can support you
    3. You business can grow itself.

    If it cant do those 3 things - I literally don't know why people would quit. The longer you can keep your money in the business and live off an external income stream the faster and quicker you can grow.
     
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  18. NicolasEmi
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    NicolasEmi New Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    It
    It is true! Thanks for sharing that insight, I really appreciate that!
     
  19. NicolasEmi
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    NicolasEmi New Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Thanks for your advice @Envision , I'll follow it!
     
  20. Mark Fobo
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    I think you should aim at quitting it but take educated risks and always have a plan B. Give yourself deadline and make sure you assessed every aspect of the situation.
     
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  21. astr0
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    Think carefully before learning programming and quitting your job.
    As a programmer myself, I assure that programming is much more than learning a programming language.
    You would also need to figure out: best practices, tools, libraries, testing, hosting, security, system administration (backups at least), design/UX, etc. In fact, many good programmers learn and switch languages from project to project, it doesn't take a lot of time when you have other skills.

    Also, it's not the best to validate ideas only with people that know you. You mentioned that it would help common people, so grab some paper, draw some mockup and run into random strangers asking their opinion. I highly doubt anyone would steal your idea.

    Supporting outsourcing with your daily job is an option. Another one would be to partner with a programmer, offering him some equity. It shouldn't be too hard to find a programmer who's willing to work on a good idea. And you could focus on other business tasks.
     
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  22. NicolasEmi
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    NicolasEmi New Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Hi @astr0, you're right about sharing this idea.. I always was afraid that people would "steal" this idea from me, but then I realized that people are living as slowlaners and they wouldn't turn ideas into products (although I know I'm still a little concerned about sharing)

    As far as the partnership with a programmer, I'm working with a web designer, but he (like me) doesn't know that much of the languages we'll use, so now we're learning together... However I'm considering either the partnership with another programmer or outsourcing the development of the product.

    Thanks for your point of view! I really appreciate it
     
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  23. Roli
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    Roli Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    This is the worst type of validation, anyone you know will tell you it's great because they don't want to hurt your feelings, especially if you asked them in a public forum like Facebook.

    It's funny because yesterday a friend of mine asked for feedback on his showreel, everyone told him how great it was, I told him the truth. Today I will be editing a new version for him.

    Seek validation from strangers or brutally honest friends.
     
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  24. astr0
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    It takes much more than just the idea. An idea alone is almost useless. Don't get me wrong - there's definitely good ones and bad ones. But a good execution can make something even out of a not great idea while bad execution will screw up even good one. Vision is also more than just an idea.

    If not against the rules I would recommend a book "Lean Startup" by Eric Ries. It has almost a blueprint for the early startup stage that helps to validate everything and avoid doing a lot of non-important things.
    The main takeaways for me:
    • Don't assume what market want's. Always validate by putting it to the market as cheaply and fast as possible.
    • 80-20 principle
    • Don't build a final product at once, build small MVP with key feature(s) and give it to early adopters.
    • Build -> measure feedback -> learn -> pivot or persevere -> iterate
    It also has some tips on finding early adopters and validating the idea without an MVP.
     
  25. NicolasEmi
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    Yes, I've thought about the type of validation I'd get from people I know but before creating this thread I didn't know how to validate this type of idea with people I didn't know (now I know, so thank you all!)
     
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