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

4 points by m_g_i ↗ HN
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

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bgnm2000
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.?
m_g_i
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.
sharemywin
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.
m_g_i
This is was I was thinking.
sharemywin
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.