I got struck by entreprenurial lighting last week at Startup Weekend Cairo and decided to do something about it...
There are so many things I want to talk about and share, but I will start with the one question I got asked a lot at the event.
"I have this idea that I want to pursue, and it has so much potential but I don't have money. Should I leave my job and do it?"
Well, for starters there is no easy answer or a 100% right answer. Is there a risk that if you leave your job and work on your startup that you will fail YES. Are you more financially secure if you stay in your current job YES.
Best advice I can give is based on my personal experience and what I have seen other entrepreneurs do and go through. At the end of the day what you decide to do is up to you.
Ok so here it goes:
Having done a couple of startups and helped on some others I believe that if you want it, are passionate about, and have a proof of concept you should go out and do it, and that if you can secure your first customer before jumping ship to start your venture, you have a much better chance of succeeding. Finally, failing is a good thing not a bad thing. It is the fastest way to learn and the experience of falling and picking yourself up again, is the only reason you will find that most entrepreneurs have started many business. Its like there is some kind of barrier that once broken sets you free and makes you fearless in front of failure.
I read somewhere that VCs prefer entrepreneurs that have at least one failure under their belt, and that statistically you have a much higher chance of succeeding in your second venture than you are your first. Simply you learn from your mistakes and make better decisions, and become a better manager the second time around
very true. I'm stuck in the same dilemma as well. However, I would think securing the first 2-3 customers is more conservative and safe before thinking of leaving your job (at least one them could a cash cow in case you fail grabbing more customers). It's just my humble opinion anyway :))
ReplyDeleteAlso thanks for your great support during #SWcairo #mediaisland
The more customers the merrier agreed 100% if you are able to secure them and service them wile still keeping your current job. Anytime on the support it is very rewarding for me to see these ideas come to life.
ReplyDeleteGood Luck and tell me if you need anything on the #mediaisland front.
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