Quitting your day job

About an article discussing whether it's worth quitting your job to start a new venture:

[People] who kept their day jobs were 33 percent less likely to fail in their new venture.

Startup culture is really glorified in the US recently, but the truth is that most of it is not glorious and ends in failure, whether that be from lack of money or lack of a successful product/service. In fact, the proportion of startups that reach "unicorn" status is just a little over 1%. This inc.com article details numerous examples of people who have accumulated billions of dollars of wealth through their startups, but at the beginning of those companies they still worked their day jobs as well.

I believe there is something to be said about passion towards an idea, and having an oncoming financial fire (e.g. no income) below your feet to motivate you, but at the same time, I might actually say having an extremely low quality of life and constant stress could make one less productive and successful. Furthermore, quitting your day job to focus on the pre-birth stage of a startup is rash because the startup is so immature there is no way to actually tell if it could work. People could say the idea would work, and that they would use it, but their words are not binding enough for you to quit your job over.

As the article says, quitting your day job is a flashy action that is assumed to be typical of startups- but the flashy ideal startup, having meteoric, sustainable growth right from the beginning, is not common or realistic. Playing it slow and safe is the boring, but seemingly more successful way to go.

From Melanie Curtin