Ask HN: Should I quit my job and start up? Need Advice

Posted by m_g_i on Monday March 07, 2016 @02:30PM
from the ask-hn dept.

I've almost decided to quit my Job and start something of my own. I currently make $48k a year and it's pretty good amount in India. I currently need to make at least $2k monthly to pay for my house mortgage and personal expenses.

What are the options to make decent side income? Should I take up a part time/consulting job? Can I find any remote jobs which can pay me $2k a month? Need suggestions. :)

( 5 comments | 4 points | on HN )

Re:Ask HN: Should I quit my job and start up? Need Advice by bgnm2000 on Monday March 07, 2016 @02:42PM (#11241055)

I think the first question is how long will it theoretically take for your startup to generate $2K/month for you? What does that timeline look like? Its easier to make a plan when you have the details laid out. Can you save $x/month and give yourself some runway etc.?

[ Parent | on HN ]

Re:Ask HN: Should I quit my job and start up? Need Advice by m_g_i on Monday March 07, 2016 @02:50PM (#11241126)

Generating $2k a month might take anywhere between 6 months to a year. There's always some possibility to fail, but that's what starting up is all about. I currently have enough savings to keep me going for next 3 months. Paid most of my savings towards downpayment for my apartment.

[ Parent | on HN ]

Re:Ask HN: Should I quit my job and start up? Need Advice by sharemywin on Monday March 07, 2016 @04:15PM (#11241741)

No. work on something part time until you have at least enough revenue to determine Customer Acquisition Cost and Life Time Value of a customer. Then you can come up with a solid plan to get where you need to be.

[ Parent | on HN ]

Re:Ask HN: Should I quit my job and start up? Need Advice by sharemywin on Tuesday March 08, 2016 @10:47AM (#11245918)

I would keep your job though. Until you have something firm on paper. I got laid off and thought I could get something bootstrapped in a couple months. A lot harder than it sounds. So, 3 months later I'm trying to play catch up in getting another job. should have focused on that first.

[ Parent | on HN ]

Re:Ask HN: Should I quit my job and start up? Need Advice by m_g_i on Tuesday March 08, 2016 @04:18AM (#11244266)

This is was I was thinking.

[ Parent | on HN ]