What I personally like about this approach is the uncomfortable feeling you get when you start eating into your start-up capital whether it be savings, Gucci Clutches handbags, borrowings or venture capital. This feeling has compelled many an entrepreneur to push forward rapidly and make breakthroughs that they would not have been able to achieve had they kept their job.
So which approach should you take?
This a question that only you can answer. Give deep consideration to how you feel about both approaches and determine which one is more suitable for you given your current circumstances. It is also important to consider the type of business that will satisfy your entrepreneurial needs. This may also impact upon your ultimate decision.
In setting up my own coaching business I decided to take the later of the two options. I gave up my ridiculously well paid corporate consulting job so I could dedicate all my energies into establishing a successful coaching business.
Damien Senn is a Life and Business Coach as well as a qualified Chartered Accountant. He helps people create compelling futures.
For your free download '101 things to do before you die' please click the following link: http://www.senn-sational.com/freeresources.htm
A disadvantage of taking this approach is the fact that it can put you under extreme financial pressure which can then impact upon the other areas of your life as well as the lives of any of your dependants. It could even mean depleting all you capital creating a need to return to paid employment.
He is the author of the 'Senn-Sational Success Journal' and has developed his own coaching model called the 'Senn-Sational Success System'.