FT Professional-PT entrepreneur vs FT professional

I was having a discussion about this with a friend, and decided to extend it to WSO - Say you have an idea that you used to work on while at college, and hoped to convert into a recognizable business. You're faced with the choice of spending a good chunk of your free time on it, or dropping it for a year or two to get comfortable with your new job. Assume Full-time entrepreneur is not an option.

What would you do and why? Has anyone done this (I know Patrick has) while working more than 70hrs/week (If so, share your experience)?

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