The First Law of Wingwalking:
Barnstorming Aerial Stunts from the 1920s, www.friendsreunited.co.uk |
"Don’t let go of what you’ve got
until you’ve got a firm grip on something else.”
The first point to be made when starting a new business is to not let go of what you've got until you've got a firm on something else. In simplest terms, do not quit your job until you know exactly where you are going and how you are going to get there.
A variety of research reports on new business formation point out that most entrepreneurs
- continue to work fulltime during the early formation days of their business,
- often work part-time after that, and
- invest from six months to a year preparing to start their business before they make the "big jump." (refer to the picture above.)
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