I have a great high paying job which I have been in ages, but I have been approached - twice - in the same fortnight to set up my own company in partnership with peopel I get on weel with and respect in a high growth area.
I'm really flattered and tempted. Advice - tips?
2006-10-26 02:37:19 · 18 answers · asked by Anonymous in Business & Finance ➔ Careers & Employment
determine what % of the profits will be yours, what role in the new company you will have and who gets to make the decisions.
This will help you decide if it's a risk worth taking.
Plus think about how much more time and effort you will have to plough into a start up venture.
Good Luck!
2006-10-26 02:41:05 · answer #1 · answered by Heather 5 · 0⤊ 0⤋
This chance may not come again. If you feel you can really trust these people and are excited at the idea of going out on your own, go for it. Make sure any partnership is legally tight. If things don't work out at least you've tried and you could always return to being an employee again. Both my husband and I have run our own (different) businesses for several years now. There are some highs and lows but neither of us would ever work for someone else again. There's nothing like being your own boss!
2006-10-26 09:50:33 · answer #2 · answered by crosbie 4 · 0⤊ 0⤋
The big question is... are you a risk taker?? If you are willing to take a chance on whether this new venture will work out then go for it, however if you want the security of a job, or you have doubts about your ability to work for yourself then stay well clear. Why does it have to be one or the other, surely you should do some work exploring the options, maybe go part time and see how things pan out!!!
2006-10-26 09:48:04 · answer #3 · answered by JULIE C 1 · 0⤊ 0⤋
If you are happy in your job, stay. Okay, you say you get on well with the people who have asked you but relationships may change if you work in partnership. I used to run my own business and it was stressful, very hard work (used to have to carry on overnight sometimes) and made me short-tempered with my husband and children. It's easier to work for someone else but in the end, it is your decision. I do hope you make the correct one. Good luck.
2006-10-26 10:18:42 · answer #4 · answered by Sandee 5 · 0⤊ 0⤋
Yes you should leave your current job, the chance to set up your own compaany is a great opportunity and you should never pass up a great opportunity. You could be a millionaire this time next year so GO FOR IT and good luck
2006-10-26 09:47:07 · answer #5 · answered by Muffin 2 · 0⤊ 0⤋
Life is all about risking, take a chance but if that partnership flops after leaving your job do becareful you have somewhere to fall back on. Good luck
2006-10-26 09:53:21 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Well, given the amount of info you gave us, I can say there's not enough information. However keep in mind one saying I heard from an old professor of mine: "in a partnership, he who brings money in, gets experience. He who brings experience in, GETS THE MONEY". So you'd better start by determining if you're the one who will contribute with money or experience. If only with money, then I'd advise you not to go for it.
2006-10-26 09:51:22 · answer #7 · answered by _______-------_______ 3 · 0⤊ 0⤋
Do you have enough reserve cash to last you 2 years? That's how long it may take your business to get up and running. The main problems why businesses fail are due to lack of sustainance. Capital runs out, and managment cannot support the load.
Peter.
2006-10-26 09:40:39 · answer #8 · answered by pbuchta 3 · 0⤊ 0⤋
Depends on how secure the rest of your life is.
If you are paying a morgage or have debts then NO.
If you are financally secure to carry you for a bit then whats stopping you.
2006-10-26 09:40:14 · answer #9 · answered by sam 1 · 0⤊ 0⤋
Do you like your job or start to feel bored? If you love your job at present, there is nothing wrong with keeping it, especially if you have other financial commitments. If not, well, no risk no gain... Go for it!
2006-10-26 09:47:56 · answer #10 · answered by Cool Gal 2 · 0⤊ 0⤋