Founders who continue to work initially can have the same commitment issues and take on all of the same risks you are talking about... if they are serious.

I am in this situation and let me give you my scorecard:

Commitment is missing dinner with your family. Do this.

Commitment is working on holidays. Do this.

Commitment is not seeing your friends again. Do this.

Commitment is letting your golf clubs rust. (don't play golf but I don't participate any more in other events of  a similar nature that I used to).

You're going to risk your job (I risk this already.  I can lose my job over running my company.)

You're going to risk not making your mortgage payment. (I risk this because I invest in my company all of my spare $$ and can lose the job that does)!

You're going to risk spending your kid's college fund.  (What fund.  It's gone.)

You're going to risk blowing through your retirement account.  (Retirement account is on it's way!)

So true Wil!  I must say thank you for writing about this.  My friends and family members would constantly ask me, why I couldn't do what I'm doing and work part-time to have some income.  It just can't happen that way!  You explained it perfectly!  I'm totally out of cash and my debt is way beyond manageable, but that's what it's all about.  I do agree with Elad's comment however that us founders don't only do this for the financial return, but for the chance to create something and hopefully make a difference in the world.

Thanks again Wil. 

P.S. your blog is so interesting to me and spot on with my experiences, i'm going to purchase your book.  I look forward to reading it. 

Cheers,
Andre
http://abuddingentrepreneur.blogspot.com

@ Augustus - the Chuck Norris point was from chucknorrisfacts.com - it's sort of an inside joke.

Regarding your "calculated risks" idea, you may want to read "Founders at Work" from Jessica Livingston.  She interviews about two dozen startup company founders about the formative years of their companies.

I'd like to see you cite on example of these founders having taken a "calculated risk" that paid off.  In almost every case they had no idea what risk lie ahead of them and pressed on anyhow.

Good article. As a small (entrepreneurial) business coach and consultant who works with the exact kinds of people you are discussing I agree one one invest wholeheartedly into a passion to enable the focus required for success.

However, I also believe most entrepreneurs head off into such a venture woefully underprepared, adding greatly to the challenge of building a profitable business.

I have an article on a squidoo page http://www.squidoo.com/best-home-business-for-you/ laying out three steps to take before jumping out to start any business. (I don't want to copy it here - too long!)

On my blog last night I talked about Why We Work. I find too many folks work for the wrong reasons which in the end does not supply the energy and drive to break through the sometimes overwhelming challenges we face as entrepreneurs.

Again thanks for the post!

Miami
www.miamiphillips.com

Great article Wil!

Although it is too late to show these facts stated, to the two wives that did not care to understand the sacrifices, did not care to live the nightmares of the entrepreneur and took the EZ route!
When $$$ goes out the window...Love walks out the door! :)

Thanks,

Tony

www.nopieinthesky.net

In addition the facts mentioned above your forgot about, the magic act called hair folliclessnessitis, no love life (whats that) family members who think you're crazy, fear and of course the illlusion of security that permeates most of our lives, what the hell if you're going down you may as well go down hard and go down swinging, don't worry its not nearly as bad as you think, just fail better success is when luck meets opportunity, you might not have to be perfect in your endeavor you just have to be there!!

Commitment is missing dinner with your family. [No]

From time to time, but at the end of the day it doesn't make sense to put your company ahead of your family. Does this mean eating alone? Or having business dinners. Staying late at the office on a regular basis is a bad idea.

Commitment is working on holidays. [Yes]

Some holidays certainly, but no one can work without a break.

Commitment is not seeing your friends again. [No]

I would be very careful of this one. You need help staying anchored to what's real. Good friends can help keep you calibrated.

Commitment is letting your golf clubs rust. [No, if you mean exercise]

There is an old aphorism "He who cannot find time for exercise will have to find time for illness." If by golf you mean goofing off, then some of that is needed. If by golf you mean exercise, regular exercise is essential to maintaining your health and energy level.

You're going to risk your job. [Yes]

I agree that you have to give up the job you have to build the company you want.

You're going to risk not making your mortgage payment. [Yes if you mean lowering your credit rating by missing a payment, No if you mean losing your house because you a too stubborn to admit defeat and get a job]

The problem here is that there are other passengers in your race car. Going bankrupt in pursuit of wealth seems to me to be shortsighted. Maybe you need to give up on this idea and take another job for a while.

You're going to risk spending your kid's college fund. [No, this is not your money]

This is not your money to piss away, this is your obligation to your children.

You're going to risk blowing through your retirement account. [Yes]

Sure, as long as you understand the consequences. And your wife gets to place a different bet.