The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

Welcome to The Fastlane Entrepreneur Forum.

Register Log in
  • The forum software will be upgraded on Sunday May 26th and may not look normal during the transition. Some functionality may be offline. This is TEMPORARY and is expected to last up to 48 hours.

My Dilemma: Stay at Current Job/Or Take New Job at Startup

Jav100

Contributor
I've Read UNSCRIPTED
Jun 20, 2016
53
29
56
Hello Aspiring Fastlaners,

I have a small dilemma. I have a cozy comfortable sales job at a tech/software company (one of the big ones), making decent money (6fig - it was really good last year, but it has slowed down a bit - half my comp is based on performance of accounts.) The company creates solutions for medicine research and is a player, but is getting beat up by competitors currently.

Some of the pros of my job: work remotely, security of larger company, have known the boss for a while who got me the job, amount of work is usually not too bad, have the ability to work on other things or take care of errands as needed. Infrequent travel. My current company is working on new tech that could improve things in the future and they are well funded.

Cons: Comp has gone down (noted before), I will probably be down $40-$60k from last year, some of the work is very unimpressive and given the company is huge there are a lot of politics and overlap leading to people fighting to do work, even if the work is menial. My boss is a poor manager -- severely disorganized, (gives multiple people the same project - then we find out we are all doing each other's jobs), forgets things (boss might have a form amnesia - no joke!) and is quite scattered/incompetent in the thinking process. Many persons are frustrated with the boss, even those in other groups. How this person has remained in the role, is beyond me (I have concluded their boss(es) may be equally incompetent or some special relationship is going on).

Anyway, a few weeks ago I received an email from a recruiter about a job with a small company (a startup actually with 30-40 employees) in a somewhat related space. The job will pay a base salary more than what I made in the last year (which was a good year) + plus a bonus + plus equity.

I would report to the CEO who is a serial entrepreneur. I see this as a possible great learning experience and the ability to work on more engaging work (I imagine the company is very lean) and wear more hats.

The startup seems promising but creates a technology that is a nice to have not a need to have like my current job.

My thoughts are that I would probably work my a$$ off though, and would have even less creative time to work on my own pursuits (to be honest, I am not making a lot of progress on my current entrepreneurial pursuits with the current job though, due to my own fault of procrastination. The startup job will require travel to offices regularly it seems, so a commute is probable (a big deal breaker me - I can't stand sitting in traffic!).

I sense staying with the current job is the smarter choice if I want to keep positioning myself for the FASTLANE, because of the lower stress and time flexibility. But I wonder about the experience with working on a entrepreneur who has built, managed and sold companies several times and sold them for 50-700 million a piece roughly.

My ultimate, top level goal is to have my own business and be out of the corporate world.

Thoughts?
 

Patrickg

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Nov 20, 2016
95
103
130
Hello Aspiring Fastlaners,

I have a small dilemma. I have a cozy comfortable sales job at a tech/software company (one of the big ones), making decent money (6fig - it was really good last year, but it has slowed down a bit - half my comp is based on performance of accounts.) The company creates solutions for medicine research and is a player, but is getting beat up by competitors currently.

Some of the pros of my job: work remotely, security of larger company, have known the boss for a while who got me the job, amount of work is usually not too bad, have the ability to work on other things or take care of errands as needed. Infrequent travel. My current company is working on new tech that could improve things in the future and they are well funded.

Cons: Comp has gone down (noted before), I will probably be down $40-$60k from last year, some of the work is very unimpressive and given the company is huge there are a lot of politics and overlap leading to people fighting to do work, even if the work is menial. My boss is a poor manager -- severely disorganized, (gives multiple people the same project - then we find out we are all doing each other's jobs), forgets things (boss might have a form amnesia - no joke!) and is quite scattered/incompetent in the thinking process. Many persons are frustrated with the boss, even those in other groups. How this person has remained in the role, is beyond me (I have concluded their boss(es) may be equally incompetent or some special relationship is going on).

Anyway, a few weeks ago I received an email from a recruiter about a job with a small company (a startup actually with 30-40 employees) in a somewhat related space. The job will pay a base salary more than what I made in the last year (which was a good year) + plus a bonus + plus equity.

I would report to the CEO who is a serial entrepreneur. I see this as a possible great learning experience and the ability to work on more engaging work (I imagine the company is very lean) and wear more hats.

The startup seems promising but creates a technology that is a nice to have not a need to have like my current job.

My thoughts are that I would probably work my a$$ off though, and would have even less creative time to work on my own pursuits (to be honest, I am not making a lot of progress on my current entrepreneurial pursuits with the current job though, due to my own fault of procrastination. The startup job will require travel to offices regularly it seems, so a commute is probable (a big deal breaker me - I can't stand sitting in traffic!).

I sense staying with the current job is the smarter choice if I want to keep positioning myself for the FASTLANE, because of the lower stress and time flexibility. But I wonder about the experience with working on a entrepreneur who has built, managed and sold companies several times and sold them for 50-700 million a piece roughly.

My ultimate, top level goal is to have my own business and be out of the corporate world.

Thoughts?

You literally have the answer to your question at the end. And sounds like your minds made up and you need validation.

Time is important so stick where you are and quiet focusing on this shit, and build that amazing fastlane business.

I know it's tempting but the startup sounds terrible for your goal of fastlane. Except possibly learning from the CEO.

hope that helps.
 

Jav100

Contributor
I've Read UNSCRIPTED
Jun 20, 2016
53
29
56
You literally have the answer to your question at the end. And sounds like your minds made up and you need validation.

Time is important so stick where you are and quiet focusing on this sh*t, and build that amazing fastlane business.

I know it's tempting but the startup sounds terrible for your goal of fastlane. Except possibly learning from the CEO.

hope that helps.
Thanks Patrick it does. I know a less stressful and demanding job will be best.

But the new job might end up paying me double the way things are going , plus the possibility of a equity and a big Check could be useful too.

Anyone have experience working at startups/small companies?

I definitely don’t want to work 80 hours a week for someone else thought.


Sent from my iPhone using Tapatalk
 

Late Bloomer

Gold Contributor
Read Millionaire Fastlane
Speedway Pass
Apr 17, 2018
952
1,289
362
After several experiences of crushed expectations, I changed my own rule in life to evaluate a job by what it definitely offers right now, not by what seems like the potential of some better future.

My ultimate, top level goal is to have my own business and be out of the corporate world.
I'll give you my thoughts from that point of view.

Current job:
  • Report to a forgetful jerk who everyone hates, but he likes you, in a politics-infested environment.
  • Pay is down for now.
  • Company is well funded and might do very well with the new products currently under development.
  • WORK FROM HOME WITH A LIGHT AND FLEXIBLE SCHEDULE.
  • Potential worst case scenario: as current competitors smash the company's current product line, your boss is forced out by the circling sharks, and as you're considered his golden boy, you're taken down as collateral damage.
  • Potential best case scenario: new product is a giant hit and you personally sell a zillion of them, mostly from home.
  • Most likely scenario: company muddles along until the new product line has its chance in the marketplace.

New job:
  • Boss is a successful business builder, but would you realistically be able to get mentoring from him, or look closely at what he does? Or would your role be to get your own work done, without much more insight into his work than if you didn't also work there?
  • You'd have to be present onsite, plus a commute you know you won't like. How much time and energy would you realistically have left over to try to do your own thing?
  • You'd be a busy, hectic multitasker helping the CEO build his own vision. Is this the kind of position you could really leave behind you at 5 pm? Or would stay late for meetings, and have to catch up on paperwork and technology from home in the evenings? How much would you definitely get paid for helping with the CEO's vision, compared to the potential to you of your own Fastlane where you have 100% equity and control of smaller pie?
  • Technology is "a nice to have," so who knows if the bonus and equity will be worth anything in a few years? Have you seen the marketing plan?
  • Potential worst case scenario: After you run around like the headless chicken for a while, the product line's irrelevant me-too status sends the company into a financial tailspin that includes cutting your job.
  • Potential best case scenario: You're way to busy to do anything on your own venture, but your help is so crucial to the ceo's next massive success, that you walk way with a giant payday in the IPO within a few years.
  • Most likely scenario: You are busy and hectic at a job that pays well, and after a few years have nothing to show for it beyond a nice line on your resume.
Given what you said is your priority, I think you should keep your current job and make a proposal letter to the CEO at NewCorp, asking if you could arrange a part-time freelance consulting gig with him, for a tiny bit of pay and a lot of contingent bonus and equity payment. You might have to pay off the recruiter, but if your pay is contingent so would be the payoff you'd have to make. If NewCorp CEO says no, then do your own thing on the side, glad that at least you don't have to drive in to the political lion's den on a daily basis.
 

Gunther Herzog

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Apr 22, 2018
41
108
132
Switzerland, at the lake of Lucerne
Dear Jav100

Thank you very much for sharing. I really understand your dilemma.

My thought on your question are the following:

How old are you? Your Intro sadly doesn't help me out there. But still, going through all the things you listed I think you are over 30 years.

If you are under 25: Go in this Startup. Try to suck everything that your boss does, into you. As he knows very well what he is doing, you can learn a lot from him. LEARN. As much as you can. Probably you will not be able to get into a Mentor relationship with him, but still you can absorb a lot from him through osmosis.

If you are older than 25 Years:
Start! No more excuses! Hustle on your Fastlane Business while trying to reduce your time spent working for the man.
No more procrastination. Go. It will be worth it. You don't need more money, time, knowledge or whatever excuse you came up with. You need more Action!

My point on the age is not that when you are 24, you have to go to the startup.
I want to assure that you have made enough domain experiences to find a great idea, that follows the C-E-N-T-S . If you didn't, then just go work at this startup. You will learn you a lot.
 

Jav100

Contributor
I've Read UNSCRIPTED
Jun 20, 2016
53
29
56
After several experiences of crushed expectations, I changed my own rule in life to evaluate a job by what it definitely offers right now, not by what seems like the potential of some better future.



I'll give you my thoughts from that point of view.

Current job:
  • Report to a forgetful jerk who everyone hates, but he likes you, in a politics-infested environment.
  • Pay is down for now.
  • Company is well funded and might do very well with the new products currently under development.
  • WORK FROM HOME WITH A LIGHT AND FLEXIBLE SCHEDULE.
  • Potential worst case scenario: as current competitors smash the company's current product line, your boss is forced out by the circling sharks, and as you're considered his golden boy, you're taken down as collateral damage.
  • Potential best case scenario: new product is a giant hit and you personally sell a zillion of them, mostly from home.
  • Most likely scenario: company muddles along until the new product line has its chance in the marketplace.

New job:
  • Boss is a successful business builder, but would you realistically be able to get mentoring from him, or look closely at what he does? Or would your role be to get your own work done, without much more insight into his work than if you didn't also work there?
  • You'd have to be present onsite, plus a commute you know you won't like. How much time and energy would you realistically have left over to try to do your own thing?
  • You'd be a busy, hectic multitasker helping the CEO build his own vision. Is this the kind of position you could really leave behind you at 5 pm? Or would stay late for meetings, and have to catch up on paperwork and technology from home in the evenings? How much would you definitely get paid for helping with the CEO's vision, compared to the potential to you of your own Fastlane where you have 100% equity and control of smaller pie?
  • Technology is "a nice to have," so who knows if the bonus and equity will be worth anything in a few years? Have you seen the marketing plan?
  • Potential worst case scenario: After you run around like the headless chicken for a while, the product line's irrelevant me-too status sends the company into a financial tailspin that includes cutting your job.
  • Potential best case scenario: You're way to busy to do anything on your own venture, but your help is so crucial to the ceo's next massive success, that you walk way with a giant payday in the IPO within a few years.
  • Most likely scenario: You are busy and hectic at a job that pays well, and after a few years have nothing to show for it beyond a nice line on your resume.
Given what you said is your priority, I think you should keep your current job and make a proposal letter to the CEO at NewCorp, asking if you could arrange a part-time freelance consulting gig with him, for a tiny bit of pay and a lot of contingent bonus and equity payment. You might have to pay off the recruiter, but if your pay is contingent so would be the payoff you'd have to make. If NewCorp CEO says no, then do your own thing on the side, glad that at least you don't have to drive in to the political lion's den on a daily basis.
The way you laid out the pros and cons of each is very helpful.

I am fairly sure I am going to stay at my current gig.

I wouldn’t even be thinking of moving if not for the drop of pay and associated risk of job loss. One thing I didn’t mention before is that I started to NOT ignore/ reject recruiters messages because I thought they could be getting rid of people and didn’t want to be job less. But as I write this, I realize that is how some people really get focused on Fastlane too.

I am almost hoping they say they definitely want people to commute every day to their office (1.5-2hrs each way, 2-4 times a week) so I get this out of my head.


Sent from my iPhone using Tapatalk
 

Jav100

Contributor
I've Read UNSCRIPTED
Jun 20, 2016
53
29
56
Dear Jav100

Thank you very much for sharing. I really understand your dilemma.

My thought on your question are the following:

How old are you? Your Intro sadly doesn't help me out there. But still, going through all the things you listed I think you are over 30 years.

If you are under 25: Go in this Startup. Try to suck everything that your boss does, into you. As he knows very well what he is doing, you can learn a lot from him. LEARN. As much as you can. Probably you will not be able to get into a Mentor relationship with him, but still you can absorb a lot from him through osmosis.

If you are older than 25 Years:
Start! No more excuses! Hustle on your Fastlane Business while trying to reduce your time spent working for the man.
No more procrastination. Go. It will be worth it. You don't need more money, time, knowledge or whatever excuse you came up with. You need more Action!

My point on the age is not that when you are 24, you have to go to the startup.
I want to assure that you have made enough domain experiences to find a great idea, that follows the C-E-N-T-S . If you didn't, then just go work at this startup. You will learn you a lot.
I am 36 going on 37! I feel old.

You are completely right. I need action.

I have made moves in the past in my 20s - but didn’t give my 100%. Add partying and hormones and I sadly missed out on the wave of easier website development and monetizing.

You are also right about domain experience - in my 20s I had little experience compared to now, was relatively poor. My career thus far has been focused on sales and marketing - and I have worked for some very successful people including one who reported to Steve Jobs. I have a generalist understanding of all marketing with pockets of deeper experience with online marketing, sales and relationship management.

I don’t have kids yet , though the gf is pushing hard for them. So I know once they come along - it will be even harder to build a business or at least a profitable product.

As for procrastination - this is the book on my desk now. [emoji4]




Sent from my iPhone using Tapatalk
 
Last edited:

Late Bloomer

Gold Contributor
Read Millionaire Fastlane
Speedway Pass
Apr 17, 2018
952
1,289
362
The way you laid out the pros and cons of each is very helpful
Glad I could help.

I am fairly sure I am going to stay at my current gig
Sounds good and I look forward to your posts about how you'll use your flexible time to start your own thing!

One thing I didn’t mention before is that I started to NOT ignore/ reject recruiters messages because I thought they could be getting rid of people and didn’t want to be job less.
It never hurts to tell the recruiter, "Hmm that might work. I don't know for sure if it would be a great job for me until I get to talk to them, so sure, go ahead and set up a conversation." Even if you don't take a job, each of these companies you meet might become a new friend of your business, a potential supplier, distributor, role model, inspiration... or even a warning of what not to do! If a recruiter eventually drops you from their list because you never take a job through them, that's their loss, not yours.

I am almost hoping they say they definitely want people to commute every day to their office (1.5-2hrs each way, 2-4 times a week) so I get this out of my head.
As soon as you know, don't leave them hanging and don't wait around for them. Reach out. "I'm so glad we got to talk. I could see myself loving the chance to be your right hand man and learn from you. Unfortunately I realized you need someone onsite while things are moving so fast, the commute to your location just won't work for me and I'm not in a position to relocate. I'm going to keep the current job. And since the schedule is pretty light for that, I'm going to start my own little business on the side, using you as my inspirational role model. I'd love to stay on your mailing list and learn how things go for you. Thanks again for the great conversation."

Worst case is Mr. SuperCEO says, "okay whatever, have a nice life."

Best case is he says, "Hey that's really classy of you, and very polite. Feel free to take me to lunch a few times a year so I can give you some advice on your new business. If it goes well, maybe I'll offer to buy your company and let you run it from your side of town!"
 

Gunther Herzog

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Apr 22, 2018
41
108
132
Switzerland, at the lake of Lucerne
Dear Jav 100,

Thank you for your feedback and I am glad that I could help you.

As for procrastination - this is the book on my desk now.
Please just watch this amazing TED talk!

I love it and it really sums up my own procrastination habits!
I am 36 going on 37! I feel old.
Your not old. You have the perfect age now! You have a lot of experience and knowledge that your younger self hadn't had.

Now is always the perfect time!

I need action.
Great statement! And you need it now.

I have made moves in the past in my 20s - but didn’t give my 100%. Add partying and hormones and I sadly missed out on the wave of easier website development and monetizing.
Well then now it's time to go hard on your dreams!

I don’t have kids yet , though the gf is pushing hard for them. So I know once they come along - it will be even harder to build a business or at least a profitable product.
Another great reason to start now. Do it for your future children. Do it for your future wife. You want to have time with them and you want to be able to support them, or not?
Do it for your family!
But if not now, then it's never.


To sum up my answer:
Move now, move reflected, and move fast!
 

Jav100

Contributor
I've Read UNSCRIPTED
Jun 20, 2016
53
29
56
Dear Jav 100,

Thank you for your feedback and I am glad that I could help you.


Please just watch this amazing TED talk!

I love it and it really sums up my own procrastination habits!

Your not old. You have the perfect age now! You have a lot of experience and knowledge that your younger self hadn't had.

Now is always the perfect time!


Great statement! And you need it now.


Well then now it's time to go hard on your dreams!


Another great reason to start now. Do it for your future children. Do it for your future wife. You want to have time with them and you want to be able to support them, or not?
Do it for your family!
But if not now, then it's never.


To sum up my answer:
Move now, move reflected, and move fast!
Thank you everyone. I’ll keep you posted!


Sent from my iPhone using Tapatalk
 

Jav100

Contributor
I've Read UNSCRIPTED
Jun 20, 2016
53
29
56
Thanks, I'll check this one too!

I need all the help I can get with decision making.

My girlfriend says I'm naturally indecisive because of my birthsign! (Libra!). I think that's a great excuse.

MJs website, was surely mentioned in his first book? That is another thing that scares me, I feel I read plenty of books but do not retain all the information. I guess I need to start taking notes. Amazon Kindle has a great built in highlighter which lets you review notes later.

There's another decision-making tool you might try, called WRAP. There's a whole book about it, but here's the cheat sheet.
 

Online statistics

Members online
51
Guests online
255
Total visitors
306

Search Forum

Top