"If you have an income right now, don’t give it up until you are at least 90percent sure that your side hustle can pay all the bills"
Have patience and realize that things take time to build. I also tell people to go as far as they can before they need to take investments. By the time you involve investors, you want to be able to negotiate with your best foot forward. In the late ’90s and early 2000s, any good idea could get funding. Today, people want to see some sort of success before they’re willing to invest in you.
And unless you’re a young whippersnapper right out of yeshivah with no family to look after, don’t quit your day job right away either. The idea of quitting so you can go all in may sound hunky-dory — until the electricity in your house gets shut off. Your number-one priority should be paying the bills and taking care of your family, and you can’t quit your job until you know that you can replace that income.
I know because I’ve made this mistake in the past. At the time I didn’t have another job, but I still had the pressure of paying the mortgage and bills, so I couldn’t focus on my business. If you have an income right now, don’t give it up until you are at least 90 percent sure that your side hustle can pay all the bills.
—Nachum Kligman, CEO of Book Like a Boss
Create a free account to keep reading.
