Hello all,
I have something that I'd like to run by the collective to see what some of your thoughts are about taking an opportunity that carries a bit(!) of risk and also involves quite a bit of travel. I realize that there never is a "right" answer to questions like this other than what's right for me that only I can determine but I would still really value any thoughts, insights, or experiences from you all.
Last year, I had an opportunity to leave a position in an organization I've been with for 25 years to take a more (semi) entrepreneurial path and join a friend that needed help managing a well established, well capitalized business with the opportunity to earn more money, take on new challenges, etc. My job with 25 year employer was very (let's say 95%+) stable and secure, well compensated, and relatively stress free. The new opportunity certainly carried more risk but the upside was potentially an order of magnitude and also provided a much needed challenge and chance to feel like I was making a more direct impact. It seemed then, and seems now, like a no brainer! However, for reasons that are now practically impossible for me to articulate, I stayed with my current employer. What I feared (knew) would happen, has happened. I've regretted not leaving ever since.
Without getting to the question yet, another important thing to consider is when I decided to stay with my current employer I agreed to relocate about an hour and a half direct flight away from where I was located. There were some good reasons for doing this if staying with current employer, both professionally and personally (closer to adult son and daughter).
So now to the question at hand. My friend and I have continued to talk and we've reopened discussions about me joining his company. With the regret I've had over the last year of not taking the leap, I'm very interested to continue talking and frankly grateful that it's still a possibility. The rub is that it's really not practical for me to uproot again and move back to where we were. What we have been talking about is the feasibility of commuting to his office to work - flying in each week and spending 3 days in office with other two days remote at home.
To put the opportunity in context financially, without getting into details it could be an effective 1.5x - 2.0x+ of annual comp. with a potential (not highly likely but possible) kicker upon a sale. Of course this is not without risk. As I mentioned the company is well established and well capitalized BUT in a very volatile industry - not unheard of that revenues can drop 50%+ in down cycles.
Again, I realize there's so much personal to this kind of decision but I really always enjoy reading what this group has to share as there's such a wide spectrum of experiences and wisdom from the community.
Thanks!
Gutragious
I have something that I'd like to run by the collective to see what some of your thoughts are about taking an opportunity that carries a bit(!) of risk and also involves quite a bit of travel. I realize that there never is a "right" answer to questions like this other than what's right for me that only I can determine but I would still really value any thoughts, insights, or experiences from you all.
Last year, I had an opportunity to leave a position in an organization I've been with for 25 years to take a more (semi) entrepreneurial path and join a friend that needed help managing a well established, well capitalized business with the opportunity to earn more money, take on new challenges, etc. My job with 25 year employer was very (let's say 95%+) stable and secure, well compensated, and relatively stress free. The new opportunity certainly carried more risk but the upside was potentially an order of magnitude and also provided a much needed challenge and chance to feel like I was making a more direct impact. It seemed then, and seems now, like a no brainer! However, for reasons that are now practically impossible for me to articulate, I stayed with my current employer. What I feared (knew) would happen, has happened. I've regretted not leaving ever since.
Without getting to the question yet, another important thing to consider is when I decided to stay with my current employer I agreed to relocate about an hour and a half direct flight away from where I was located. There were some good reasons for doing this if staying with current employer, both professionally and personally (closer to adult son and daughter).
So now to the question at hand. My friend and I have continued to talk and we've reopened discussions about me joining his company. With the regret I've had over the last year of not taking the leap, I'm very interested to continue talking and frankly grateful that it's still a possibility. The rub is that it's really not practical for me to uproot again and move back to where we were. What we have been talking about is the feasibility of commuting to his office to work - flying in each week and spending 3 days in office with other two days remote at home.
To put the opportunity in context financially, without getting into details it could be an effective 1.5x - 2.0x+ of annual comp. with a potential (not highly likely but possible) kicker upon a sale. Of course this is not without risk. As I mentioned the company is well established and well capitalized BUT in a very volatile industry - not unheard of that revenues can drop 50%+ in down cycles.
Again, I realize there's so much personal to this kind of decision but I really always enjoy reading what this group has to share as there's such a wide spectrum of experiences and wisdom from the community.
Thanks!
Gutragious
Statistics: Posted by gutrageous — Sun Sep 01, 2024 8:37 pm — Replies 0 — Views 30