by: Jim Price, Michigan Ross faculty & ZLI entrepreneur-in-residence
Many startup businesses begin as something the founders pursue in their spare time, while still working a full-time job. If your dream is to turn such a side hustle into your livelihood, how do you know when the time has come to make that leap?
My latest book has the answer to that question- as well as 19 other key considerations for any would-be entrepreneur. I have been directly involved in several startups, taught entrepreneurship at Michigan Ross for 16 years, and I’m an entrepreneur in residence at the Zell Lurie Institute. Now, I’ve gathered the lessons I’ve learned along the way in a book, The Launch Lens: 20 Questions Every Entrepreneur Should Ask, published by the University of Michigan Press.
Of course, not everyone with a startup on the side wants to take it full-time. However, I have noticed an increase in the number of people who launch a side enterprise thinking maybe someday it might become their main source of income- largely because this is such a great time to start a business.
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