I'm a chemical engineer with 9 years experience. Should I leave my job so I can start my own engineering firm?

I am:

Tired of my boss who micromanages me
Beginning to lose some passion in my work due to backstabbing colleagues, high-pressure company culture
Decently paid, but feel I could earn more as an owner-engineer
A decent salesman (IMO) with good relationships with my current clients, who I feel will follow me if I start my own engineering consulting firm
Quite frugal, and have enough savings to last my family and me the next 24 months even if I don't draw a salary

I have the following commitments:

$2,500/month in cash expenses to pay (mortgage, food, utilities, childcare, transport etc.). This is my share of the total household expenses
A 3-year old baby to take care of
$800/month as coffee money for parents, but they have their own nest egg and good insurance plans so not too worried here

Would you take the plunge?

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Zack Tee

Edited 04 Dec 2021

Not sure if trying to keep a business afloat, worrying about income would give you less pressure than taking a salary with the pressure to meet "this years' growth target".

But anyway, assuming there is no way this can be a side hustle to validate your business viability, and that you have to completely quit the current job, the question is how confident are you to get a job of similar income 1 year later if you fail your business?

If getting a job is not a problem, take the plunge. You can still look for a job in the future if you failed.

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Brendan Aw

04 Dec 2021

Procurement Manager at Taiwan Leolight Lighting Co., Ltd.

Do it as a side hustle first to validate your idea. Its not wise to jump into it before you get product market fit. Talk to your existing clients to see if they would be willing to work with you should you leave. You don't want to be stuck with no clients at the start while stressing with finding new ones.

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Calvin Yo

04 Dec 2021

Start your own company for the right reasons, not to run away from current environment. Can just swi...

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