Hi All,
I have a question regarding working on a business idea while also working a 9-5 job. Is it best to work on the business idea 'slow and steady' by working on it during evenings and weekends or to take time off from the 9-5 and work on it full-time for a few weeks to a month?
I've tried to frame this as a general question but I guess it also is specific to my situation. I have been working for the same organisation for the last 5 years and have saved up around 5 weeks paid leave. I have currently arranged to use this leave to have every Friday off giving me a 4 day working week for the next 6 months or so. I'm using the Fridays to read business books and work on creating my web application idea. (Still very early stages)
Alternatively I could take the full 4-5 weeks off in a chunk and use the time to work full-time on the web application idea.
So which is better?
Here are some of my thoughts:
Slow and Steady Pros
Looking at it like this my 'safe bet' instinct is to continue with the slow and steady course with occasional weekend sprints of effort when I have the time.
However part of me wants to go all out and really pursue this idea. I really want to be free of my 9-5 as I think I have much more to give than what the 9-5 gives me the opportunity to.
So what do you think? Slow and Steady or an all out sprint? Perhaps a hybrid of the 2?
Cheers
Gabriel
I have a question regarding working on a business idea while also working a 9-5 job. Is it best to work on the business idea 'slow and steady' by working on it during evenings and weekends or to take time off from the 9-5 and work on it full-time for a few weeks to a month?
I've tried to frame this as a general question but I guess it also is specific to my situation. I have been working for the same organisation for the last 5 years and have saved up around 5 weeks paid leave. I have currently arranged to use this leave to have every Friday off giving me a 4 day working week for the next 6 months or so. I'm using the Fridays to read business books and work on creating my web application idea. (Still very early stages)
Alternatively I could take the full 4-5 weeks off in a chunk and use the time to work full-time on the web application idea.
So which is better?
Here are some of my thoughts:
Slow and Steady Pros
- It's a process which means it'll help create long term habits
- Being over a greater length of time it will allow me to learn topics thoroughly which could help improve the quality of my product
- I will be able to respond to customer feedback and adjust the product as it is built
- If the product fails I won't have used all my leave and so I can focus on something else with the rest of the time
- It's slow! By definition it will take longer
- By the time the product is complete it could be irrelevant or there could be competitors out there
- Competitors will be able to respond to the market faster
- The product will be completed and taken to market faster
- This could result in being financially able to leave the 9-5 work sooner in order to work full-time on the product (assuming it is successful)
- It allows me to get it out there and get customer feedback sooner which will help determine the viability and direction of the product
- Single point of focus. I'd be putting all my effort and resources behind a single project/idea which should provide a higher chance of success.
- Risk that the product fails and I've used all my leave making future work more difficult
- Basically throwing all my eggs in the one basket. I'd be putting all my effort and resources which while improving the odds of success also increases the cost of failure
Looking at it like this my 'safe bet' instinct is to continue with the slow and steady course with occasional weekend sprints of effort when I have the time.
However part of me wants to go all out and really pursue this idea. I really want to be free of my 9-5 as I think I have much more to give than what the 9-5 gives me the opportunity to.
So what do you think? Slow and Steady or an all out sprint? Perhaps a hybrid of the 2?
Cheers
Gabriel
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