Hi all, i would like to get some advice and opinions here. First, i live in Sydney, Australia and I have been trying to start a company for 3 times while i was in grad school and now working full-time. Each of those time, I found it really hard to start something while working as full timer. I found myself and the team totally burnt out and things are just not moving as fast as we want. And, as a result, the idea just never become reality. I still learn something out of those fail-times though.
But now, i am really determined want to make it happen. I am thinking of quitting my day job by the end of this year and take the plunge even though i haven't got a clear sense on what i wanna do and whether the idea might works or not. Somehow, i have the funny feeling that i would be able to survive. Well..the scary feeling is still there. :P
Another thing, regarding co-founders, of all those 3 attempts to start a company, i always had partner (not necessarily motivated one!). But, if i take the plunge to start-something up, most of my friends are not ready to take that risk yet either financially or commitment wise. So, i'm thinking i might just do it by myself.
The business is not necessarily web-start-ups that might take few months to develop and takes time to attract users. If i quit, i definitely need business that is more revenue-driven to survive as i only have 6 months saving.
Now, the question is, what should I do to improve my chance of success despite the situations (sole founder and inexperience)?
Thanks!
I spend the majority of my time working for clients, still, but I get to charge a lot more than as an employee, which means if I keep the same lifestyle, I can support weeks without any work - or in this case, working on my own startup ideas. It's not technically a 'startup', because I don't want to take the plunge and go all-or-nothing, but being freelance definitely gives me a -lot- more flexibility to work on my own project.
This might be a good solution for you in the interim until you can jump straight into another full-time business venture?