Take a C-Level Position or Build my Company?

[SkullGuy]

That's the decision I am tasked with at the moment. I lost my job after 20+ years at a place. Lost everything in the process. I decided that I was going into business for myself. I have spent the last year and a half in hell building my company. Money has been and is tight. Things are finally starting to break though. I see light at the end of the tunnel once more.

I had a recruiter call and he wants me to take a C-Level position with a local company 100K +. I know what I want to do, I want to continue my efforts, I want to build my company. I'm not sure I could work for someone else.

Have any of you been in this position? I feel I have to follow my vision and dream, I also feel I have an obligation to my family to provide more than I have been. I have no one else to talk with this about. My in-laws are great but do not understand my business. They would kill me if they knew I was passing this job by. My wife is really awesome, she will stand by me no matter what. I guess I just need to get this out there. I'm not getting any younger, the safe thing seems... well safe. I am not and have never been the type of person to seek the "safe" solution though.

 

[LordCameltoe]

Do you see yourself making over 100k per year with your business in the foreseable future (1-2 years)? If not, go with the job and keep the company as a sideline.

Partner up or hire someone who can help you run it.

 

[Banned member 185991]

*cough* bullshit *cough*

 

[rafark]

Okay, I'll give you mi opinion on this.

I would personally go with funding your own company. I have actually been developing my company for 3 years now, without earning a single dollar. My proyect has grown and grown on pair with my level of ambition.


However, I still have support from my parents. You, on the other side, have a family and unfortunately cannot enjoy of this privilege. I'd say you take your job BUT keep developing your company in your free time, once your project is ready, you can launch your company and quit your job. The risks ate minimized but they still exist with such decision: what if your company never generates what you get from your job?

I would still take the risk, though.

 

[Capo Dei Capi]

Take the job and build your company on the side by outsourcing the work. You will have enough money to invest in a company if you are frugal and not going out partying etc.

 

[SkullGuy]

*cough* bullshit *cough*

Nice, Mr. Cynic.

 

[SkullGuy]

Do you see yourself making over 100k per year with your business in the foreseable future (1-2 years)? If not, go with the job and keep the company as a sideline.

Partner up or hire someone who can help you run it.

Not a bad plan. I can see my company becoming much larger than it is now though. I am at a crossroads with it. Finding a partner would be tough. I have my brother but he works with me maybe a couple hours per week. I don't see him grabbing the ball and running with it.

 

[Stitches and Burns]

Take the job and build your company on the side by outsourcing the work. You will have enough money to invest in a company if you are frugal and not going out partying etc.

You can't grow a company while having another job. It's doable, but extremely difficult. It requires your 100% commitment.

I mean, OP has been trying to grow his company full-time and he had a tough time doing so.

Either OP takes a leave from business and take the job OR he concentrates on his business.

 

[Stitches and Burns]

That's the decision I am tasked with at the moment. I lost my job after 20+ years at a place. Lost everything in the process. I decided that I was going into business for myself. I have spent the last year and a half in hell building my company. Money has been and is tight. Things are finally starting to break though. I see light at the end of the tunnel once more.

I had a recruiter call and he wants me to take a C-Level position with a local company 100K +. I know what I want to do, I want to continue my efforts, I want to build my company. I'm not sure I could work for someone else.

Have any of you been in this position? I feel I have to follow my vision and dream, I also feel I have an obligation to my family to provide more than I have been. I have no one else to talk with this about. My in-laws are great but do not understand my business. They would kill me if they knew I was passing this job by. My wife is really awesome, she will stand by me no matter what. I guess I just need to get this out there. I'm not getting any younger, the safe thing seems... well safe. I am not and have never been the type of person to seek the "safe" solution though.

If you have pressing needs, such as a growing family, then it's better to take the job.

This goes against the usual thinking like "follow your dreams no matter what" yada...yada... But if you have mouths to feed and you can't get a decent income from your business then it's better to accept the job and work on it until you're in a better position financially.

You can always restart the business or start another one in the future. But your family is the only one you have, and should be top priority.

 

[davidhemming81]

consider the new job as a side business mate. Fuel your existing business with fresh funds from the job and see if it cracks the upper ceiling...
Wish you the best of luck!

 

[SkullGuy]

I have my first big client. I can't serve 2 masters. I think I already had my mind made up. Like I said, I am right on the cusp of this thing breaking wide open. I put a lot of work into building relationships and building this company. It is starting to pay off. I have a ways to go but I think it was meant to be. I appreciate the feedback and sounding board. I will keep you guys updated as to what transpires.

 

[Banned member 185991]

This isn't real. Please stop talking shit.

 

[tziahs]

Go with the company and possibly find a partner to split costs, at least until you reach a comfortable spot. I would never be able to go back to a normal job...
Good luck!

 

[Baros]

We had a similar experience after being laid off, we went to work online fulltime. Never looked back. It's hard to compete with freedom.. depending if you've found that online. However if you have funds from an offline job, it can go a long way for investing online. In one years salary, you can build an empire if you stick to your guns and actually build your business instead of playing. Online is the key for me. Here's a fun book you might enjoy, it was enlightening to those of us who have owned companies offline prior to online.
"The E-Myth Revisited: Why Most Small Businesses Don't Work".

 

[SkullGuy]

This isn't real. Please stop talking shit.

Hey how about you go fuck yourself. What is my incentive to lie about this exactly? Do you want to know my background and experience? I will share that with you in PM if you like. I think your time on BHW has jaded you a bit. I gain nothing by posting this thread except maybe a little conversation from people in my line of work.

 

[Jobdollarr]

You must have a job offline, then IM as a side job.

The real problem, IM definitely got the money, but the flow is sometimes fast, sometimes slow, and sometimes do not earn at all

 

[Anonymously]

What is your online business if I may ask? I just wonder what it takes to for a middle-aged person with a family to pass on a 100K, secure job? Was the job the same as what you were doing for the last 20 years?

Not here to scrutinize, just curious. I admire your determination, even it means passing on good options.

 

[SkullGuy]

What is your online business if I may ask? I just wonder what it takes to for a middle-aged person with a family to pass on a 100K, secure job? Was the job the same as what you were doing for the last 20 years?

Not here to scrutinize, just curious. I admire your determination, even it means passing on good options.

My brother and I started a jewelry and clothing business. The company I worked for previously, I was actually one of the co-founders. I was an idiot, a drunk and drug addict. I lost my shares. But, I got sober 5 years ago. I did SEO, SEM and eventually social media for my old company. The company was sold and they decided not to keep the majority of people around. The clothing and jewelry store my brother and I started was actually an offshoot of a marketing company. We still do marketing and I guess the jewelry and clothing store was more of a proof of concept, it's growing rather well though. But now, I have the opportunity to do online marketing, SEO, social, etc. for a big client. This client could potentially turn into many more big clients. I do have business experience and one thing I have learned along the way and mainly in my sobriety is not to give up 5 minutes before the miracle happens.

 

[christianbed]

This is essentially an opportunity cost problem. You're going to either trade time for money (if you take the job) or money for time (if you build your biz).

My feeling is that with the money you'll earn in the new job, you can hire someone to do the mundane tasks involved in building your biz. Then you can spend a couple hours/day working on the more important tasks. If the biz starts taking off, you can always hire another person...they should more than pay for themselves.

Of all the really successful business owners I know, 90% of them focus on building systems and hiring employees rather than trying to do everything. I'd like to think the new job could bankroll the staff whilst also allowing you the luxury of spoiling your family a bit for being so supportive all these years.

Congrats on your sobriety, too, mate...that's really good to hear.

 

[dhia27]

Do it, start your company !
Loosing your job is meant to be as well as the new offer, It is life challenges. Challenge yourself !