How can you leave your full-time job to become a full-time entrepreneur when you have a family to feed?

I am ready for a change of pace in life, career-wise that is. How can you leave your full-time job to become a full-time entrepreneur when you have a family to feed?

I saw my Uncle do this.

I actually interviewed him on an (Obscure) tv channel about it:

[I’m the ugly guy]

He had a mortgage. 3 kids (1 still dependent) and decided to start a company.

A few weeks into taking the leap. His house burnt down.

You’ll see in the video it’s pretty interesting. He went on to get bought out, buy back the company, buy out his original partner, employ around 15 people and do a couple million £ revenue.

It’s been running several years now and supported his whole family. Not bad for a man who had an arranged marriage and came to the UK as a 7 year old.

HOWEVER:

  • He had 20 years of experience already in advertising
  • Pre-children he’d already tried multiple businesses
  • He had a business partner and they split capital costs 50/50
  • They had 6 months of savings to support all to live from

With no presence of mitigating circumstances to PROTECT you from the downside.

You walk a very very rocky road.

The solution:

Saying ‘don’t do it’ isn’t an answer for you. You came all the way onto Quora to ask this question. So I’d say:

  • Start something on the side if you must
  • Minimal capital cost
  • Devote ‘outside hours to it’
  • MAKE MONEY. Before you quit

As to what you do that could do that?

Well. The internet is anyone’s playground my friend. Just be wary of the bullies and the fickleness of the crowds. As well as how busy the sellers at the bazaar already are.

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To see some things from my experience of business check out:

transcribed from becoming a full-time entrepreneur