Quitting a "career" to join a small startup
Discussion
At the moment it seems to be the maddest thing I can imagine, but for some reason I still seem to be considering it:
My career so far can only be described as quite successful - I joined a graduate scheme at a bank to go into IT infrastructure and have spend the last 9 years solving some quite interesting problems. My salary is good, my progression up the greasy pole has been good, the feedback on my performance is good and my boss is directing me towards a management type role.
I expect if I stick it out, in another 5 years I'll be a director with significant budget and at least a small team.
For some reason I'm considering joining a very small firm (about 5 people, not all FTEs) which is a media/web consultancy with some pretty decent internet startup ideas that they want to get off the ground. There's stable income from the consultancy which provides a good base from which to do the risky startup stuff.
It's going to mean a pay cut (initially, at least) and a massive increase in risk, for potentially much more engaging work and zero corporate bulls
t. And for some reason that seems to be quite attractive to me.
I'm looking for someone to try and talk me out of it, or to recount their tales of doing something similar. Although I'm not sure how many people would have actually done such a retarded thing. My job is the dream job for a lot of people who post on here about trying to break into IT, and I'm thinking about throwing it all away
My career so far can only be described as quite successful - I joined a graduate scheme at a bank to go into IT infrastructure and have spend the last 9 years solving some quite interesting problems. My salary is good, my progression up the greasy pole has been good, the feedback on my performance is good and my boss is directing me towards a management type role.
I expect if I stick it out, in another 5 years I'll be a director with significant budget and at least a small team.
For some reason I'm considering joining a very small firm (about 5 people, not all FTEs) which is a media/web consultancy with some pretty decent internet startup ideas that they want to get off the ground. There's stable income from the consultancy which provides a good base from which to do the risky startup stuff.
It's going to mean a pay cut (initially, at least) and a massive increase in risk, for potentially much more engaging work and zero corporate bulls
t. And for some reason that seems to be quite attractive to me.I'm looking for someone to try and talk me out of it, or to recount their tales of doing something similar. Although I'm not sure how many people would have actually done such a retarded thing. My job is the dream job for a lot of people who post on here about trying to break into IT, and I'm thinking about throwing it all away
Siscar said:
Any equity involvement?
Splitting all the profit from the consultancy equally (equity has no value - the clients will follow the ceo), and with 1/3 equity of any startup's which are going to be spun off into separate companies. So a damn good deal.The startup ideas are not facebook scale, but they're good ideas and they have the potential (if successful) to provide a decent ongoing cash flow.
CEO is a very good friend of mine, if that makes any difference. He needs someone to help him do this and it's me specifically he wants.
Edited by BMWBen on Friday 14th March 18:58
That's the trickiest thing - I know I'm good at it and that I would succeed at climbing the pole further. I don't feel that it's really me, but it's a known quantity. I have no idea about the other option.
If I knew that getting back on the treadmill after 2 years out would be simple then I wouldn't even question giving this a go. A part of me worries that it might not be so easy to change back however. Lame reason not to do it though
If I knew that getting back on the treadmill after 2 years out would be simple then I wouldn't even question giving this a go. A part of me worries that it might not be so easy to change back however. Lame reason not to do it though
BMWBen said:
That's the trickiest thing - I know I'm good at it and that I would succeed at climbing the pole further. I don't feel that it's really me, but it's a known quantity. I have no idea about the other option.
If I knew that getting back on the treadmill after 2 years out would be simple then I wouldn't even question giving this a go. A part of me worries that it might not be so easy to change back however. Lame reason not to do it though
Well no it isn't, for me it would be easy because it would be moving to an environment I'm comfortable in. I work for a company I own, it's natural for me to be in that environment. But there is nothing wrong with where you are and if it suits you more then you should stick with it, sorry, I know that's no help.If I knew that getting back on the treadmill after 2 years out would be simple then I wouldn't even question giving this a go. A part of me worries that it might not be so easy to change back however. Lame reason not to do it though
A hard call, but one for you, very hard for anyone to make it or advise you on it,
Just an observation ... over a decade ago, I worked for a hugely successful software house, from their inception, until a bit of financial shenanigans meant they made thousands, including me, redundant. I went freelance and never really looked back, but at the time it was a massive kick in the balls. It didn't matter what had gone on career-wise before, it was abruptly over.
The missus currently works for a company who, on the face of it, are untouchable (<1500 employees; >$1 billion turnover; the chances are that everyone on this thread uses their financial service daily) and it'll be all over the news within a few days that even they're making redundancies.
My rather oblique point is; you can make your own choices and live with them, or you can wait for someone else to do it on your behalf and then work it out on the fly.
The missus currently works for a company who, on the face of it, are untouchable (<1500 employees; >$1 billion turnover; the chances are that everyone on this thread uses their financial service daily) and it'll be all over the news within a few days that even they're making redundancies.
My rather oblique point is; you can make your own choices and live with them, or you can wait for someone else to do it on your behalf and then work it out on the fly.
BMWBen said:
My job is the dream job for a lot of people who post on here about trying to break into IT, and I'm thinking about throwing it all away
It is indeed for me. Been trying to break in banking sector IT but have no chance 
However the grass is always greener and all that jazz. This really depends on your age, personal circumstances etc - personally as tempting as how startups seems I would stick to working in corporate environment especially given the excellent career progression chance. Working with a close friend isn't always a good idea...
I did it and would never go back.
A few thoughts:
- there will be corporate BS but it will be your clients and not your own.
- make sure you are 100% sure of the details of any equity deals on the companies that will be part of the "spinoff's"
- make sure you understand how the consultancy profit split works. You say equity has no value so how then will profits be distributed? Without equity you won't be getting it through divi's (I am assuming it is not a partnership in the legal sense). If your CEO wants you in and is committed to you then he will give some up equity. Failure to do this would speak volumes and for me would make it a non-starter.
Good luck!
A few thoughts:
- there will be corporate BS but it will be your clients and not your own.
- make sure you are 100% sure of the details of any equity deals on the companies that will be part of the "spinoff's"
- make sure you understand how the consultancy profit split works. You say equity has no value so how then will profits be distributed? Without equity you won't be getting it through divi's (I am assuming it is not a partnership in the legal sense). If your CEO wants you in and is committed to you then he will give some up equity. Failure to do this would speak volumes and for me would make it a non-starter.
Good luck!
Can be a good way to lose a friend and a career, but it can also be a once in a lifetime opportunity.
I wouldn't worry too much about the long term career impact - the treadmill will still be there in a year or two.
If your personal circumstances justify a gamble then it could be worth a go. What I would be thinking hardest about is your relationship with your friend. Knowing someone socially is very different to working with someone.
I wouldn't worry too much about the long term career impact - the treadmill will still be there in a year or two.
If your personal circumstances justify a gamble then it could be worth a go. What I would be thinking hardest about is your relationship with your friend. Knowing someone socially is very different to working with someone.
Siscar said:
johnfm said:
Wife? Kids? Or is it just you to worry about?
That can make quite a difference.
It can, I'd recommend a wife and no kids. That was my situation when starting my business, my wife earned enough for us to live on meaning that if necessary I didn't need to earn anything. That can make quite a difference.
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