If you're thinking about starting a business, you might not want to give up your day job just yet
By SARAH E. NEEDLEMANIn May 2008, Savneet Singh began building a business with a friend while working full time at a large New York hedge fund. Though the moonlighting gig ate up most of his free time, he says he didn't want to quit his day job until he was sure the venture would pan out.
Four months later, Mr. Singh's start-up, Stiki Digital Inc., received its first round of venture-capital funding. The timing couldn't have been better. Within weeks, Mr. Singh's employer let him go, and he became one of the nearly two million workers who lost their jobs in 2008.
"I felt really lucky," says 25-year-old Mr. Singh, whose business provides the technology behind an Internet-promotions strategy in which customers type in codes to get free downloads of videogames and other things. Trying to build a start-up after a layoff adds pressure because you're "feeling such an urge to make money, you don't have to time to build out an idea," he says.
If you're anticipating a pink slip and thinking about starting a business, consider this: Many entrepreneurs say they first tested out ideas for new ventures while working full-time jobs, resigning only after becoming confident that their companies were headed toward success.
Click here to read more...
Online Request for SBDC Counseling
No comments:
Post a Comment