Setting up myself

splanagan22

not sure if this is the correct form

Outline is

I’ve been employeed with the same company for the last 11 years, it’s a small plumbing and heating business, company does ok and there is 6 employees including the boss, I’ve grown tired of the same stuff and the money isn’t enough for what I do, I’ve got 3 payrises of €50 in 11 years, we have talked numerous times of promotions and profit share new business opportunities over the years but nothing changes, I feel like the boss would just like to keep me doing what I’m doing and keep the head down but it’s not in me anymore, I want more, I’ve put a lot of effort in the jobs over the years and I’ve strengthened all existing relationship with contracts and so on but I’ve nothing to show for it, I’ve always thought I want to try it myself but I always backed down and just told myself to keep the head down but it keeps creeping back up

I would love my own financial independence and the chance to make something for myself and this time I said sod it im going it, I got the website done and the business cards made and made contact with the accountant and made contacts with some contacts I’ve made over the tests and was all set to do it,

I told the boss and now he really trying to change my mind, he wants to know what will it take for me to stay, is it more money, more responsibility, more flexibility, I know I can do this job, I’ve proven it time and time again but I’ve never really made anything decent for myself

So the question I have is do I stay and take his offer or possible partnership, maybe buying into the company and really pushing for profit share, I’m worried that it still won’t change and the excuses will be “ ah were busy at the minute wait till things quite down or we need to keep the head down and keep working or you need to try and drum up some extra business etc etc I’m also worried that when the dynamic changes and I move from being the trusted employee to the partner will our relationship change and will he resent having someone else involved in his already established business

Gloomtastic!

You’ll have learnt an awful lot about a business in 11 years.

Do it, review it, change it. But you’ll only know by doing it.

splanagan22

do it as in take the partnership or do it as in go my own way and make it work at whatever cost

Gloomtastic!

Go your own way. Your boss will always be a pain.
Yes, you have to make it work. Plan your exit carefully. What information is currently available to you that would be useful for your new business?

Mrs OBumble

You boss will be all talk now: if he meant it, he would have looked after you all along. He didn't. As soon as you change your mind, deregister the website, etc - his offers will wither.

Go for it while you have the spark

Keep his approach in mind if you get big enough to have staff yourself - and don't copy it.

And as for business partnership, do you really want to be in partnership with someone who treats people the way he's treated you?

Maxface

Sounds like the time is right to go out on your own, sounds like the 'boss' won't really change his ways regardless. Better to start afresh and use your energy to build your business rather than build a new working relationship with your 'boss'.

splanagan22

some insightful thoughts

I suppose people will say the offer of more money surely couldn’t be ignored but then for every pay rise in the past it was always a big push to get it.

But money won’t fix the real want for something more in the back of my head, it’s the independence, respect and joy of building my own thing that will keep me motivated, there is a family to support behind all of this also so I need to be mindful of that but now is the time

I will never look back and be disappointed for trying it but im absolutely positive I will look back and be disappointed for not trying it

Thanks

dave3t

It sounds like you’re at a crucial crossroads. Here are some key points to consider:

1. Evaluate Your Current Job: If your boss is willing to offer more money, responsibility, or a partnership, consider whether these changes align with your long-term goals. Reflect on whether you truly believe things will change or if it feels like a temporary fix.
2. Assess the Partnership: Becoming a partner could provide financial rewards and a say in the business, but it also brings risks. Relationships can change, and you might face challenges in decision-making or profit sharing.
3. Your Desire for Independence: If financial independence and building something for yourself are your main goals, starting your own business may be the better path. You've already taken steps toward that, which is significant.
4. Risks vs. Rewards: Weigh the potential benefits of staying against the risks of remaining in a situation where you feel undervalued. If you choose to stay, set clear terms for any new agreement to protect your interests.

Ultimately, trust your instincts. If you feel strongly about starting your own venture, it might be time to take that leap.