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Hello, Hi, Greetings and the rest! Canadian on a mission :D

ALSL

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Curiosity killed the cat. Thank goodness it had 8 other lives!

That's the way I'm hoping my foray into the entrepreneur's path will go. Well, no, I don't hope that I'll fail the first time, but at least if I do I'll be able to figure out why and have more chances to succeed!

Need
Entry
Control
Scale
Time

As long as I follow these commandments I shouldn't be too far off, right guys? Haha!

I'm going to assume a wall of text isn't going to help me make friends here, so if you guys feel the inclination to find out a little bit more about this new guy, please feel free to shoot me a PM.

A little bit about my current situation: TL;DR: Boss wants me to stay to mentor me. I need to stay an extra year to do so. If I stay though, I will not be able to give my full focus to my business. It is a great opportunity to learn more about store management and also business development (franchising), but it also delays my business plans. Do you believe I will be learning many things that will help my entrepreneurial desire, and do you think it will be worth delaying my business plans by 1 year?

My best friend and I have been going through some business ideas and running them through CENTS. We feel that we've come up with a few solid ones and are going to pick one to run with.

The problem? I have a full time job that requires me to be fully immersed in it to be effective. This is not just a request from my superior but also how I feel. I feel that if I were to half-a$$ my job, or split my attention between it and my business, that it will be unfair to my place of employ.

Here's the thing though: I am being trained in business development. In essence, I am being paid to fill my knowledge gap about this sort of thing, and I'm doing so while risking only someone else's company, not mine.

My superior believes I have incredible potential and finds it a shame that I may be leaving to pursue my own path.

My question for those of you who have ever been in my position: what is your advice?

Should I stay on for another year, learn everything about expanding a franchise, learn about critiquing expansion ideas and marketing efforts, first? Or should I simply thank him for all of his teachings and patience up to this point and resign to try to tackle this with my own business?

I admit, I have a serious lack of knowledge, but I am also a very quick learner, which is why he wants me to stay so badly. He feels he can mentor me into someone with executive-level management skills.

If I were a slowlane-thinker, this would be an easy decision, but I'm not. Or, I'm trying not to be.

So, help me out fastlaners!

Many Thanks!
Alfred Leung
 
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futhey

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Tough call. If you feel you have something to learn, you're learning on someone else's money, not yours, which is a plus...

Except you're not making any money. Obviously your boss sees some potential if he's asking you to stay.
 

ALSL

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Thanks for replying futhey!

Tough call is right :( I've never taken a job for just the money before. They've all been stepping stones to greater learning. However, I'm 23 turning 24 next month, and I'm thinking unless I absolutely love my job (which I don't; I like it, but it's not like I'm passionate about it) that I should be spending that time, brain power, and energy developing my own business.

However, I think I'm reaching out for more people that have had to make this tough call and what they had to consider before making their decision.

Fastlane Millionare Community, Please Help!
 

ZackLogan

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Maybe use the Weighted Average Decision Matrix detailed in TMF ?

I'm in a similar position right now (also turning 24 soon!) and decided to ask my boss to go part-time. Now I can make enough to survive (barely) keep learning, and have two extra free days/week. This may not be a viable option for you, but think outside the box and hopefully you can come up with something that wont completely cut off your cash-flow (and learning, but that should not be considered because if you're passionate, you will learn more on your own than working for somebody).

Best of luck in this exciting time!
 
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Amail

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If holding off for a year of mentoring wont' derail your business, and if you think you'll gain some good value from the mentoring, then do that. If you're taking the mentoring just because you're flattered with the offer, move on.
 

The-J

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You're getting paid to learn. And if it's an 8 hour a day job, you can put at least some focus into your business.

Truth is, you don't actually start working 10, 12, 16 hour days until you get customers. But by that time, you're already motivated to do so. And if you stay for an extra year, you may be making enough to hire help early.
 

ALSL

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Thanks everyone for your great replies. Before this, I think I was ready to leave.

However, after your advice, I think I may just suck it up, continue working for a year and just learn to sharpen my focus and develop my business after work.

If anyone else has advice on this issue, please don't hesitate to voice them!

Thank you:
ZackLogan, Amail and The-J!
 
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InMotion

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At your age....I would stay if I were you.
 

ALSL

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At your age....I would stay if I were you.

Are you saying I should stay simply because I'm young? Is there any other justification behind your answer besides youth? Have you been in my situation before and have stayed in a job to absorb useful knowledge instead of pursuing a business venture and reaped rewards from it? Please tell me your story so that I may take it into consideration!

Thank you InMotion!
 

InMotion

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Are you saying I should stay simply because I'm young? Is there any other justification behind your answer besides youth? Have you been in my situation before and have stayed in a job to absorb useful knowledge instead of pursuing a business venture and reaped rewards from it? Please tell me your story so that I may take it into consideration!

Have you read the book? Your boss is offering to mentor you in a powerful Fast-lane model. Assuming your boss knows his stuff why wouldn't you? If your boss said hey ill mentor you in a powerful Slowlane business I would say hit the road.

I admit, I have a serious lack of knowledge

Another reason why I would stay...Do you have an actual business that's off the ground? Most people work while they develop their business initially.
 

ALSL

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Have you read the book? Your boss is offering to mentor you in a powerful Fast-lane model. Assuming your boss knows his stuff why wouldn't you? If your boss said hey ill mentor you in a powerful Slowlane business I would say hit the road.



Another reason why I would stay...Do you have an actual business that's off the ground? Most people work while they develop their business initially.



All your advice makes sense. Thank you.
I'm not sure if what he's doing is fast-lane is what I'm trying to get at.
Our department is a restaurant group in a large umbrella company. However, very few of the franchises are actually doing that well, which is why we need to begin business development and some such. Regardless, it's still the food industry and I do not plan to pursue it. As MJ mentioned in a post I read before, why pursue a restaurant when it's one of the hardest ways to become fastlane?

Also, I wouldn't just quit and go full time on the business right away. I would just switch to a job where I do not have to worry about working after hours. Something near brainless so that I can just draw in a source of income while I focus on developing my business.

If I were to stay, the job would require I spend time OUTSIDE of the 8hrs/day expectation.

The struggle here, is that even if he mentors me in developing food franchises, it would not only be not interesting to me, it doesn't seem to be relevant either!

However, PLEASE correct me if I'm wrong and just tell me to suck it up. If learning about business deveopment in the food industry will translate to internet-marketing and developing an internet-based business, then I'll just suck it up and soldier on. If not, I plan to just get a sales job that's commission-based, earn income while sharpening my persuasive/sales skills, and build my business on the side.

Thanks InMotion!
 
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InMotion

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Well...spend a while on the forum and ask around. Use the search function and see what you find, questions like yours are asked all the time. The decision will come to you.
 

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