So I quit my job today. It was a spur-of-the-moment decision preceded by a lot of vacillating. I'm glad I did it---I was doing grunt work in Visual Basic at the whim of insurance agents.
Me: Perfect SAT, kicked out of college for not attending class. 23 years old, $1200 in the bank, paying $157 a month for rent, but it'll go up to $300 or so in a few months. Bay Area native, but I'm currently in Provo, UT. I live with five roommates, of whom I'm close w/three.
Questions: Should I move back to the Bay w/my parents? It would mean: free food and rent, possibly easier access to funding, and better weather, but it would also mean: being subject to odd jobs from the parents, not being around a university environment (I've set up my "office" in the bottom floor of the library here), a worse work environment, etc.
Also, any other tips would be HUGELY appreciated. I've been wanting to do this for a while, have a business plan, have some plans to look for funding, etc...but I'm still scared to death.
Why not find a better job, or one working a startup? Why not go back to college? Why not start your own business on the side while you work? You say "I've been wanting to do this for awhile" but it sounds to me like you got fed up with people telling you what to do and gave up, instead of fighting for something better.
A business plan is worth nothing. A drop-out with no execution skills, no prototype and no team is not going to get funding.
You put yourself out there with this post and exposed your fear and that's commendable. I would say: step 1 of 100,000 in the right direction.
1.) Get over how smart you are.
I'm sure people told you how much potential you had as a kid, but that's over now. In the adult world, potential doesn't count for shit. The guy who got a 950 is kicking your ass right now because he got up and did something. (Just FYI, I had to do this too, it's humbling but necessary)
2) Go get a job NOW to pay the bills
Living with your parents is for kids. At least your expenses are low so there's no reason you can't make enough money to support yourself AND build your business (assuming that's what you want to do). Go hussle up a job that can pay your bills. Mow lawns, wait tables, build websites, WHATEVER. By staying on your own you're increasing your odds for success and, you know, being a grown-up.
3) Build something SOON
Bootstrap a very small niche business that can bring in $100 a month. And do it in the next month. There are a zillion resources out there to hold your hand through doing that. If this is unpleasant for you or if you can't make that happen, DON'T start your own full-fledged startup or waste time looking for funding because that is a million times harder.
4) If you're interested in the startup scene but aren't ready to start your own, get a job with a startup. With your history it might be that all you can get is an equity-only position. So you work there and work on the side to support yourself.
5) Hussle. Rinse. Repeat.