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How to go about evaluating leaving a 9-5 into your own business? (alien.top)

submitted 11 months ago by Efficient_Medicine57@alien.top to c/entrepreneur@indiehackers.space

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I am 23, graduated college and started a full time job. I realized fairly quick I really prefer working for my side business than my full time job. I’m not a fan of being “controlled” and hate not having control of my life in that aspect. Also grinding away for someone else’s gain.

Last year I mad 60k as a project coordinator in construction in NYC. I also made 40k pre tax on the side weekends and after work some days.

I think it’s in a position to replace my income with full time Effort but want to make sure I’m doing it right with as little bumps as possible.

Any advice?

My business would be handyman/ landscape projects. With time be a one stop shop home services company.

I plan to work part time with electrical/ plumbing/HVAC companies to learn more skills as I go.

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[–] YourAverageExecutive@alien.top 1 points 11 months ago

It really depends on your savings and risk tolerance. I’ve jumped into founding startups (different than what you’re doing but similar salary tradeoff) when I was 22/23. I had some savings as I worked a lot since I was in high school (and through college). Just have a backup to your backup plan. If your idea fails, what will you do? If it only succeeds 50% what will you do? What if it takes longer but you see traction (and not enough income), what do you do? etc. Basically, decision tree out what you want to do, what may happen, and what you realistically can do after. It doesn’t have to be crazy or complex… but it’s a super smart thing to do when evaluating risk and understanding your options today and tomorrow.

Good luck!

Source: serial entrepreneur who does a lot of corporate strategy and startup advisement/mentorship.