"Also, the type of business I am starting would definately be a conflict of interest with my current employer"
I can apprecite your desire for entreprenuership and all the advice that has been given. My only issue is that nobody has addressed the "conflict of interest" issue.
Maybe I`m to big on ethical behavior, But In my humble opinion the very first question that should be answered is the conflict of interest Issue.
It may be the case because I feel that "what goes around, comes around" and if you think it is acceptable to take a paycheck from your employer all the time you are developing a business that will compete with your current employer, you may also feel you can do other things that may be perceived as unethical like establishing you client base up or even illegal before you make the brake.
I do not believe that is the case yet because you had added it to your post and it was important enough to ask for advice. Its a tough call.
I`ll just give you two questions.
- How would you feel if someone did that to you?
- Regarding the conflict of interest issue "Stay for as long as you can and still be able to sleep at night"
I hope I wasn`t to hard. I`m just trying to give you something to think about and possibly a different perspective.
Good luck and I wish you the best,
BTW you didn`t mention anything about the business specifics, so I`ll assume that you are indeed very confident about your business plan, but if there is anything I can contribute to help you out I am looking forward to it. My way of establishing myself in the area in which I am best at.