Research shows that successful Entrepreneurs who kept their day jobs had 33 percent higher odds of success than those who quit.
In other words, launch your idea while doing your day job and then leave when you’ve reduced the risk to the point it can sustain you and your family (or will do soon).
It’s what I did.
So did Phil Knight who founded Nike. He started in 1964 but kept working as an accountant until 1969.
Larry Page and Sergey Brin, who figured out how to dramatically improve internet searches in 1996, didn’t leave their PhD studies until 1998.
Brian May joined Queen mid-way through his doctoral studies into astrophysics but didn’t drop out for several years – soon afterwards he wrote “We Will Rock You.”
All these Entrepreneurs balanced risk across their daily activities having many low risk activities (which, for example, brought in the cash) while having only one high risk activity. The ability to effectively balance risk is a sign of a good Entrepreneur.
Being all in too early is not necessarily the best thing to do – it’s generally not balancing risks.
So, think carefully before you leap.