I’m attempting to do it now and, so far, doing both my contract work and product development are fitting well together.
I’ve taken time off and built a successful business before, but I’ve also raised money to build a business that ultimately failed, and tried to run a development shop to bootstrap a product, which ultimately failed as well. It’s tough, and I think the best way for most of us is to keep working while building a product.
I have two kids and, in the past, have attempted to do the no sleep thing. Not anymore.
Somebody mentioned it in this forum before, but I think you should be carving out your most valuable time for your own product. For me, that’s early in the morning, before the kids get up, or on the weekends (especially if it is raining out), or sometimes all night if I’m stoked about working on something and can make good use of my time.
The next thing is to try to get a fitness routine in there too