Jack of more than one trade?

I was reading this post this morning by Seth Godin wherein he talks about wearing more than one hat.

I have been thinking a lot about this recently for myself personally, particularly around the idea of an entrepreneur being only an entrepreneur. Can you be both an employee and an entrepreneur? Or does it have to be one or the other?

I was reading a book by Hugh MacLeod a few months ago, author of Ignore Everybody. In the book, Hugh talks about how he started his current business while working for others, and that it allowed him to really find his niche without the pressure of having to make a living at it. It also allowed him the time to figure out if it was something he could do for a living and not hate it. One of his 39 keys to creativity in fact was that you NOT quit your full time job if you have one. By the way, if you have not seen Hugh’s artwork or read his book, I highly recommend it.

I have seen it be successful both ways. I know serial entrepreneurs that swear by the fact that you have to dive in and be 100% committed or it will never work. I also know people that have started out tinkering with something and grown it to the point where it was enough for them to step into it full time ( see Hugh MacLeod ).

It seems to me that there is the right answer, but its not the same for every person. Based on your ability to take on risk either financially or emotionally, there is probably some sort of scale.

What are your thoughts?