Host: How much time is involved in starting a business?
David Krauskopf: You have to evaluate how much time you willing to commit to this business versus your other time commitments. This is very critical because compared to sort of regular job where your hours are more defined or set, we see that most entrepreneurs spend way more time than that regular job in getting their business going and you are the one who has to make that choice about how much time to put in.
In fact, many successful entrepreneurs spend almost all of their waking hours in the start up phase to make their business actually go and run. So you need to look at what are the time commitments in your life right now, family, other commitments and you need to evaluate that and discuss with those people what the impact might be if you are starting that business, on your time and it will help you a lot if you can get the other activities and people in your life aligned with this likely amount or huge amount of time for it that you are going to have to made to start your business. If you choose as much smaller amount of time, you will reduce the likelihood that you will do well with your new business.