You have neglected to provide enough information. How many months of living expenses do you have saved up? Can you go 2 years without making a profit? If you can't, I don't think this is a +EV decision.
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Living expenses will be covered, zero profit for 2 years though would limit my ability to grow crypto portfolio.
Wow, well done. I think you're doing better than most business start-ups in that category. 2 years is a nice buffer. Congrats.
Starting any business is risky. Is there anyway for you to combine some of the advantages of both options? Could you begin your business on nights and weekends, or scale back your hours at work, so you continue to have some income coming in for some time, guaranteed? That would extend the period you could go without profit. Even if you only got a few extra months of expenses out of it, it may be worthwhile. It's a high stress option, but starting most businesses is much higher stress (and hours) than having a delegated task and paycheck.
I advised a friend to do this who was starting a personal training gig. She wasn't going to have a full-time job's worth of clients to begin with, and she could work on some aspects of the marketing at night while taking initial clients during evenings and weekends. As a result, she still has the option to bail on either choice (keep job / quit to go solo) and is testing both for feasibility.
Another friend of mine stayed in med school until his company reached a certain pre-defined level of profitability, proving his concept, then he quit around the middle of year 2, if I recall correctly.
Ultimately, it all depends on what you'd be doing. If you were doing freelance web design, you could probably do that at night. You couldn't run a coffee shop from 7pm-1am though.
I would be hesitant to advise you in either a positive or negative direction without being able to research things like the rate of failure in the business you are going into (for example, restaurants are very risky); neither would I request any of this information as it's up to you how much you want to tell us.
Good luck with whatever you decide.
PS - I won't deny that sometimes, certain projects and opportunities demand throwing yourself at them 100%. This is a personal judgment call that should be based on a number of factors, like estimated profitability, etc. We may not all agree on what those factors should be. I'd want a lot of research, but some people just go for it. You hear a lot more about the successes than the failures though, and I think the former are far outnumbered by the latter.
Wow, thank you for your counsel @lexiconical. Definitely something to think about. I'm sure glad steemit has a lot of experienced individuals taking the time to help out :)
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