It's relatively common for an entrepreneur to start working on a new venture while still employed by another company. As a result, a few entrepreneurs have asked me if it’s acceptable to start raising a seed round while still keeping a day job.

The answer to this varies by firm, investor and startup.  In general, this is a strike against the entrepreneur as it signals to investors that the entrepreneur is not extremely confident about the prospects of the endeavor.  However, investors understand that you might have a mortgage to pay and kids to feed and therefore don’t always hold it against you.

While VCs see these situations often, a good excuse is usually helpful.  Be prepared to offer a strong explanation for why you haven’t made the leap to going full-time.  You should also emphasize that you and your team will become full-time upon receiving an investment.

If you need to maintain a job while you start your company, do it.  At the end of the day, if you can work double time, make progress and demonstrate your competency while collecting paychecks, you should still be positioned to raise your initial capital.