Recently I talked to a sharp entrepreneur with tons of energy. Over the past year he’s been working part-time on a startup with a couple friends that had already been at it for a year before he joined. Product launch is right around the corner and exemplifies the challenge of working on startup part-time: taking two years of working part-time to launch a mobile app is a recipe for a slow death. I hope they succeed, I truly do. It’s just that products need oxygen (users) and founders need faster iterations to figure out what works and doesn’t work.
Most tech startups fail, that’s a fact. With high risk (and reward) comes a high likelihood of failure. Most startups fail with entrepreneurs working full-time on them, so how much more difficult is it to be successful working part-time on one? Another big challenge working part-time on an idea is that you don’t make enough progress either way. A major progress milestone is when you realize an idea isn’t going to work and it’s time to shut it down — that’s much better than taking three times as long to get there working part-time on it. Ideally, the startup does work out and you figure out what works as fast as possible, helping to reserve stamina for the long haul (it’s a marathon, not a sprint).
What else? What are your thoughts on working part-time vs full-time on a startup?