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Do not make this about quitting you job that is not what we are talking about here. Lots of wannabe spend their time trashing jobs and work. That is not what I am saying. Work is not the enemy. Doing stuff you hate, spending lot of your time away from the people and things you love is what we are fighting against.
Having worked a day job for over twenty years and run multiple bonuses for over a decade, I can definitely say that running your own business carries far less financial risk in the long run. I know that sounds crazy but it is true. Whereas you can lose 100 percent of your income overnight with a job you will rarely experience the same outcome with your own business even in your worst year. The most likely scenario in the event that you fail is that your business will decline gradually, giving you amply time to plan ahead and find other sources of employment.
Quitting your day job is often viewed as the end goal for entrepreneurs but the truth is that a better goal is waking up every day to a life you can appreciate and enjoy. If that induces a day job, great. Again, the objective is freedom and happiness not bragging to your friends about quitting a dead end job. If you are in a job you hate that is your fault not the job. Seek fulfillment in your work instead of chasing after the next best thing. Each new job will always bring more work than you expect and quitting cold turnkey to start a business places undue stress on the fledgling business that often requires years to succeed. Look for ways to maximize your own happiness wherever you can and you will never feel like a failure, no matter what you do for work. Just know that working a day job will rarely result in life changing money but it can provide the stability you need to get started as an entrepreneur.