Which option is better?

[WolfHerring]

Hi, I'm at a pretty big crossroad in my life.

First some background:
I'm almost 23 years old, I have around 8k usd in my bank and I have plenty of software development experience.

I finally finished the long mandatory millitary service we have here in Israel and am now a free citizen considering my next move.

My options are:
1. Go work full time as a software developer for around 65k usd a year after taxes (Israeli taxes are painful), with potential for more if I work my a$$ off.
2. Start my own business.

I thought about going with 1 for a year or two to save up some money to fuel a business, but the mere thought of being a keyboard slave for more than a year makes me feel ill.

Going with 2 won't be too bad as my country has a very big startup community with pretty generous funders that I can reach using my networks, but I'd be pretty short on personal cash.

Is there anything I'm not considering that could make this decision easier?
What would you guys do?

 

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[Wiezel]

Pick one and don't look back, you will never know the alternative.

 

[Kybalion]

I would pick the second option, but then again I am a bit insane.

Also... You should check out this post:

GOLD! - Sorry, But MJ (or the forum) Can't Make Your Life Decisions For You!!

I'm starting to receive a lot of emails, and even messages on this forum that request advice on major, life-changing decisions ... as if, I, and the forum, holds some type of crystal ball that knows the right decision for your life, your family, and your happiness. Do I quit my job? Do I move...

www.thefastlaneforum.com

 

[Kyle Nakhul]

The first option will give you all the experience and skills necessary to start your own successful business. Most great leaders always advice to work in the cooperate world first before starting a business.

 

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[richstone.io]

I am in almost the exact same situation and I thought this one through many many times, which resulted in the following algorithm:

11. If you plan on doing business anyway, then you'll learn the most about doing business by doing business!

22. If you can afford to be "short on cash" and won't suffer from it in anyway at least for a year, then be short on cash until you start generating cash and pick OPTION 2 - Your Own Business.

33. If you start to suffer from your cash situation, go back to OPTION 1 - Your Bill Payment Machine - and continue your business endeavours on the side until you generate enough passive cash or enough cash to live off for another year. Then start at STEP 22. again.

 

[richstone.io]

The first option will give you all the experience and skills necessary to start your own successful business. Most great leaders always advice to work in the cooperate world first before starting a business.

The time won't be wasted completely (from an optimists point of view) but there is no guarantee it will be worth much for the exact business that OP is going to do at some point in time.

 

[Boychamp]

I'd go second option, for what it's worth (I'm a random 23 year old on an internet forum sooo...)

My reasoning though? The WORST that happens is your business fails, you make no money, and you're forced to... go back to option 1. Oh no, back at square 1. Additionally, i feel the amount you'd learn from trying to start your own business and (potentially) failing, would be extremely helpful in your NEXT adventure after you go back to option 1 and save some cash up again. With such a strong skillset that pays well, you're kind of fine regardless.

Lastly, you also have a third option in my opinion. Work on your business and have a part time gig. This could be a flexible, low stress job (personally, I bartend on the side although I have a business & econ degree) or you could even do freelancing, contracting, etc to make a little extra on the side.

Best of luck

 

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[msufan]

Hi, I'm at a pretty big crossroad in my life.

First some background:
I'm almost 23 years old, I have around 8k usd in my bank and I have plenty of software development experience.

I finally finished the long mandatory millitary service we have here in Israel and am now a free citizen considering my next move.

My options are:
1. Go work full time as a software developer for around 65k usd a year after taxes (Israeli taxes are painful), with potential for more if I work my a$$ off.
2. Start my own business.

I thought about going with 1 for a year or two to save up some money to fuel a business, but the mere thought of being a keyboard slave for more than a year makes me feel ill.

Going with 2 won't be too bad as my country has a very big startup community with pretty generous funders that I can reach using my networks, but I'd be pretty short on personal cash.

Is there anything I'm not considering that could make this decision easier?
What would you guys do?

Here's the only question you need to consider: What customer needs or problems would your business solve?