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If you have ever considered launching a startup, you may feel that it requires an all-in, 100%percent focus, which would mean leaving a full-time job.A new book by Patrick McGinnis, venture capitalist and founder of Dirigo Advisors, argues that all you need is 10% of your spare time to become an entrepreneur.Patrick stopped by the Knowledge@Wharton Show on Sirius XM channel 111 to talk about the book: The 10% Entrepreneur.

Knowledge@Wharon: How did you arrive at 10%?

Patrick McGinnis: I did this myself. I was the guy bumbling around in the dark room looking for the light switch in my own life. I came out of this experience where my career went into upheave, and I was looking for diversification. I started thinking, “What’s an appropriate amount of time to spend on things outside of my day job that is meaningful but achievable?” I started at 20%. I thought, that feels like a lot — let me get down to 10%. Over time I found out that the average angel investor invests 10% of their net worth in side ventures.

Knowledge@Wharon: How many potential entrepreneurs do you think are scared away because they feel like they are sticking their neck out there, that they have to go 100% or they can’t go at all?

McGinnis: It’s a substantial number of people. They look at that and say, “It’s great, but I have a good job. I’m doing something that I always wanted to do. I am not going to give all that up for the roller coaster that is entrepreneurship.” I think it is actually quite pervasive. As I’ve talked to people about the book, I’ve been shocked at how many people throughout society are struggling with this dilemma.

6. Who is the author of the 10% Entrepreneur?

A. McGinnis B. Dirigo C. Wharton D. Sirius

7. Why 10% is valid according to Patrick?

A. 10% symbolize a small percentage. It is not a specific number

B. 10% sounds very cool. The book sells letter this way

C.Patrick himself proved 10% to be plausible

D. Only 10% can be called part-time

8. What does “pervasive” mean?

A. Harmful B. Wide-spread C. Surprising D. Preconditioned

9. What does “I was the guy bumbling around in the dark room looking for the light switch in my own life” imply?

A. I like to live in dark room so that I can look for light

B. I got used to the feeling of falling down in the dark room but haven’t surrender yet

C. I but bulb to light up the dark room all the times

D. I have gone through hard times during which I look for hope against all odds

10. What is Not the reason that deter people from starting up their own business?

A. They are somewhat satisfied with their jobs

B. Starting up business is too risky

C. 10% is a lot of effort to begin with

D. The opportunity cost is high