New York SBDC Research Network

From Bplans : For many, the hardest part of starting a business isn’t coming up with the idea or choosing the right name. Deciding when the time is right to start a business is often the biggest challenge. How do you know when to take the plunge? Should you go all in, all at once—or take it more slowly? This can be an extremely difficult question to answer, and doing so involves a careful assessment of your own strengths and weaknesses, your position in life, and (of course) your financial situation. Generally speaking, it comes down to a decision between “jump right in,” and “slow and steady.” That is to say, some feel it’s better to quit your job and start your business right away, while others will advocate for a more measured approach, involving building up your new business on the side before transitioning into the role of full-time entrepreneurship.

Millennials tend to stay at a job for a shorter period than the average worker, according to data from the Bureau of Labor Statistics. The Wall Street Journal highlighted these numbers  in a story this week, also raising the question of whether all the movement in the workforce is a problem or opportunity. According to the BLS, the median time in a job for workers 20-24 was less than 16 months, and it was three years for those 25-34,  according to the story .  The median time in a job for all workers 25 and up was 5.5 years. More from AIER .