I left my previous employer about 4 months ago after 10 years. I am currently employed permanently as a developer at a new company.
My previous employer has approached me and offered to help me with a startup and also help grow it. I would eventually have to employ my own developers and outsource to them at a rate lower than market value.
I've always wanted to start my own co. and this seems like a perfect opportunity but could be risky as they would be my only client initially.
Should I go for it and take the risk or be cautious?
All comments welcomed and appreciated :)
I guess the question boils down to your own personal risk appetite and your assessment of the opportunity. Would you prefer the security of a job, or do you believe you'd prefer to be an entrepreneur? If that doesn't work out, how easily could you get a job again (right now developers are in demand, so I'd imagine that you could)? Will this business do as well or better for you than your job? What are your personal goals and how will this opportunity intersect with those? Some people are very happy to be gainfully employed, others itch to do their own thing.
From my point of view, I'd generally suggest 'just go for it', but I have no idea about whether you have family responsibilities or other things to consider. Sounds like it could be a good opportunity, not many startups begin from day one with a paying client already -- but I don't think anyone can make that decision for you! If you are young and unattached, then you are probably better positioned than you might be later in life to take some risks.
There is never a better time than now. I try to weigh up the pros and the cons before I go head first into something like this. I made a decision three years ago to start a software company after being in the industry for about 10 years. Much like yourself. The only difference was it was during the 'recession', but I saw a gap in the market and decided I would never forgive myself if I didn't at least give it a chance.
Like Justin said, 'just go for it', or like Richard Branson says 'Screw it, let's do it'.
I'm leaning towards going for it... Don't wanna wake up in a few years asking myself why didn't I? :)
I agree, do it!
you can only grow and learn, you might fail but you'll be stronger for the next time if that happens