Thanks for sharing those thoughts, Biswajit. Much appreciate your insights.

Sandeep – Believe me you are not alone. There are several wanna-preneurs who aspire to be successful entrepreneurs but are either afraid to give up the comfort of their day jobs or simply cannot do so owing to other social/personal (financial) commitments. So, yours is not a unique situation.

Also, I believe you DO know what you’ve to do as you answered most of your questions yourself. You clearly have two options:

1. Boostrap all the way until you get paying customers for your product while you hold on to your job. This might take more time but it would at-least help you validate your idea without foregoing your paycheck.

You can quit your job as and when you do get paying customers and generate decent revenue.

Pros: You’ll have your paycheck while you work towards validating your idea.
Cons: Could take more time. Also, would be tough to convince investors that you really believe in your idea while you hold onto your job.

2. Quit your job and bootstrap with funds from savings, friends or family.
This way you have a chance to take the product to the market much faster (time-to-market)

Pros: You can validate your idea much faster and be able to convince the investors more easily.
Cons: You lose the cushion provided by your job.

I know there is more to it but this is just to give you few ideas.