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How did you make your first jump? (alien.top)

submitted 10 months ago by StrateJ@alien.top to c/entrepreneur@indiehackers.space

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As the title says, You've got the money in the bank to start your idea or so you think. How do you tell yourself it's ok and to take the first jump knowing the potential risk of losing it all?

Share your experiences

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[–] marcelDanz@alien.top 1 points 10 months ago (3 children)

Congrats on the money!
You can ask yourself what is holding you back. It usually is some fears that are lingering inside you. You can do a fear-conquering exercise with these fears to make more objective decisions on them.

Write your fears down. The worst-case scenario that could happen when you make the jump.
Rate the impact on your life of this worst-case scenario on a scale of 1-10.
Specify the steps that you would need to take to get back up after this worst-case scenario struck.
Write down the other possible outcomes that are more likely than the worst-case scenario. And rate them on a scale of 1-10.
Write down what it costs you currently to not take the jump. In terms of money, and fulfillment of your other needs like passion, meaning, appreciation, etc.
Rate the current cost on a scale of 1-10.
Now review the data you collected. Chances are that the worst-case scenario isn't as bad as you imagined first, and you know how to fix it when it should occur. Is that impact worse than what it costs you right now to not make the jump?

This should help you make a bit more objective decision. If you'd like more input DM me, maybe I can help you with the experience I collected over the years.

[–] DonnaHuee@alien.top 1 points 10 months ago

I like this. Also, you don’t need to jump into it right away. Build out your business plan and do market research while you still have a job. That education over a few months will help you know how viable your idea is so you can ckimjoarjw mykmmj

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