Mark, the method David says, purely bootstrapped, keep your day job until its profitable, no outside investors even family.... is the safer road and avoids many of the pitfalls you outline. Of course, you still have to worry about the market changing, losing a client, your cost structure vs your competitors, and the like. All the things that your current boss worries about, you get to inherit.
But also the VC, angel, or other investor method gives you cash up front to put off some worries on day 1, but as Mark says, when you hire someone, you have to look them in the face knowing you only have 6 months cash in the bank.
With the bootstrap method, you only have 1 week cash in the bank.
Both can be stressful. I guess having other people depending on you besides yourself is less stressful in some ways, but also less (0) chance of a home run exit.
Mark, the method David says, purely bootstrapped, keep your day job until its profitable, no outside investors even family.... is the safer road and avoids many of the pitfalls you outline. Of course, you still have to worry about the market changing, losing a client, your cost structure vs your competitors, and the like. All the things that your current boss worries about, you get to inherit.
But also the VC, angel, or other investor method gives you cash up front to put off some worries on day 1, but as Mark says, when you hire someone, you have to look them in the face knowing you only have 6 months cash in the bank.
With the bootstrap method, you only have 1 week cash in the bank.
Both can be stressful. I guess having other people depending on you besides yourself is less stressful in some ways, but also less (0) chance of a home run exit.