Bootstrapping a Startup while having a full-time job

I have a full-time job, 40 hours a week. I make good money that helps me have a secure life and leaves me some money for savings + about $200 to fund for my project. Basically I can do both the programming, UI and Graphic design. Also I can do the general admin tasks such as setting up environment, backing up data and etc.

I was wondering if I can launch this project as a side project and maintain it alone without having a co-founder. I am fully capable of implementing the whole thing end to end, the only problem is, one person can only work on one thing at a time. Anyone has done this, starting a start-up while working a full-time job ?

Working full time and starting a new business can be done. I did it with my current brick & mortar business. While it's not easy, I think this is the true test of an entrepreneur - how much are you willing to work for it? My first venture was the typical drop-out-of-college pipe dream...and it didn't last long. Going all or nothing by quitting your job is a dangerous game plan when most start-ups fail within the first 3 years. Instead, work your butt off in your spare time and build a product/service that generates revenue to the point it forces you to leave your day job. No one says it's going to be easy, but if you're looking for an easy buck, starting and building a business is not the path to take.

A great reference for a place to start is a book by Dan Miller that I've read called 48 Days To the Work You Love. I like his recommendation to use your most creative hours (first thing in the morning before you put in 8-10 hours working for someone else and come home mentally drained) working for yourself. Bringing in a co-founder will complicate things for you. You'll have to decide if the costs (time, energy, ownership) outweigh the benefits. Best of luck!

Since i am software developer, i know how much you have to concentrate on a problem and how draining it can be.
I may be one of those guys you are talking about. The only difference is i am the founder of just a small website.

To be frank if you are still intending to work and manage a company on your own- It would not be impossible but would be really difficult.
I have good designing skills. I am a developer working full time in a reputed software company and also manages a team of 7 dot net developers in the company.

Still, my site is growing day by day only because of a partner and a close friend who is also in the same situation like me.

From what i can get about what you have written is, i am talking to a clone of mine. May be a bit more talented clone :)

Don't be afraid of having partners unless you don't trust them.
An extra hand would always help.

Weighing in #3 - I started a company with a co-founder a year ago. We were both working FT. The company was going to require quite a bit of labor intensity, so depending upon what the business is this may/may not be possible. There are a lot of things to consider that aren't readily apparent so expect to spend more time than you imagine. That said, we started both working, added a 3rd partner then I quit my job after 6 months when we knew we had a good infrastructure. My biggest concern for you is $200...