Garrett Dimon, on building a business:
Whenever people talk about starting businesses, one of the most common deterrents people bring up is having a family to support. While being cautious and making sure not to put your family at risk is important, this fear assumes that there are only downsides. That couldn’t be further from the truth. I’m in my mid-thirties, married, and we have a two and a half year old daughter and a mortgage. We’re also a single-income family as my wife takes care of our daughter full-time….
The biggest hurdle here is to stop thinking of launching a business as binary and imagining quitting your job on a whim one day. With that approach, your fears are entirely justified unless you have a huge savings account that you can afford to risk.
The wrong way is by taking out credit, quitting your day job prematurely, spending other people’s money, leveraging your family’s future, and jeopardizing your mental/emotional well being.
The right way is by creating a system that is robust; a job to pay the bills, allocating some amount of free time to working on the business, focusing on sustainability, refusal to take shortcuts, spending your own money (when it’s needed) and not being in such a fricken hurry to get somewhere.
You do it properly by slowly gaining mastery in your business until when the time comes you’ve EARNED the right to quit your day job and go full time for yourself.
And that’s precisely the path I’ve followed with Authentic Jobs. Eight years later, and only the latter half of those years being full-time, I’m pretty happy with how things have turned out.