Jumping off Corporate Hamster Wheel
Discussion
Hi.
a little story which will likely bore many but might interest some who they themselves may be standing at a career cross-roads.
After 25 years 'working for the man', I have decided to go it alone. Something I never thought I would do but a recent epiphany (involving a close mate and his health) has convinced me it is now or never.
I am leaving the relative security of a senior role within a Plc (and all the trappings it entails) and will virtually reset my lifestyle and expectations to get this new venture off the ground. It is about 3 weeks since I made the decision and I have been rushing around getting stuff ready and have felt invigorated in a way that I haven't felt for years.
The new venture is a software business specifically created to take 3 ideas to market. These are ideas that I have carried around for the last 10 years or so (but seem as relevant now as they did back then) and whilst I don't expect to rival Facebook I believe I can create a comfortable living from their development.
Part of what I intend doing is to create a journal / diary of the transition from a corporate employee to an entrepreneur. From a role where I was surrounded by a massive infra-structure to a new life where I am everything from MD to chief bottle washer. It has been a fair while since I was at the 'coal face' and I can honestly save that I am really looking forward to leaving the suit behind and getting my hands dirty again and actually being able to see and touch a good day's work.
Bizarrely, I am finding the 'downgrading' process strangely cathartic. For the last 5 years, I have spent 4 nights a week away from home, away from family and away from all the toys that I bought that I thought would make it worthwhile. Seems like I have finally learnt a lesson in what is actually important and it isn't the next car upgrade.
So, there we go, I have rolled the dice, let's hope it lands on the right number !
a little story which will likely bore many but might interest some who they themselves may be standing at a career cross-roads.
After 25 years 'working for the man', I have decided to go it alone. Something I never thought I would do but a recent epiphany (involving a close mate and his health) has convinced me it is now or never.
I am leaving the relative security of a senior role within a Plc (and all the trappings it entails) and will virtually reset my lifestyle and expectations to get this new venture off the ground. It is about 3 weeks since I made the decision and I have been rushing around getting stuff ready and have felt invigorated in a way that I haven't felt for years.
The new venture is a software business specifically created to take 3 ideas to market. These are ideas that I have carried around for the last 10 years or so (but seem as relevant now as they did back then) and whilst I don't expect to rival Facebook I believe I can create a comfortable living from their development.
Part of what I intend doing is to create a journal / diary of the transition from a corporate employee to an entrepreneur. From a role where I was surrounded by a massive infra-structure to a new life where I am everything from MD to chief bottle washer. It has been a fair while since I was at the 'coal face' and I can honestly save that I am really looking forward to leaving the suit behind and getting my hands dirty again and actually being able to see and touch a good day's work.
Bizarrely, I am finding the 'downgrading' process strangely cathartic. For the last 5 years, I have spent 4 nights a week away from home, away from family and away from all the toys that I bought that I thought would make it worthwhile. Seems like I have finally learnt a lesson in what is actually important and it isn't the next car upgrade.
So, there we go, I have rolled the dice, let's hope it lands on the right number !
CptSlow, thank you. At this stage it doesn't feel like courage, it just feels like the right thing to do. I know it won't be plain sailing, not least of all because I am losing the monthly pay cheque but I have mentally come to terms with that and have spent time thinking about the worst case scenario and once I came to terms with that, it feels a lot less risky.
Good luck with it! Have employed myself for past 8 years or so - I am so much a better employer of me than those big businesses! I just could not imagine dancing to another's tune now :-) Although the hours are longer not shorter...well you are doing it for your family not the boss's...
rdj001 said:
Hi.
a little story which will likely bore many but might interest some who they themselves may be standing at a career cross-roads.
After 25 years 'working for the man', I have decided to go it alone. Something I never thought I would do but a recent epiphany (involving a close mate and his health) has convinced me it is now or never.
I am leaving the relative security of a senior role within a Plc (and all the trappings it entails) and will virtually reset my lifestyle and expectations to get this new venture off the ground. It is about 3 weeks since I made the decision and I have been rushing around getting stuff ready and have felt invigorated in a way that I haven't felt for years.
The new venture is a software business specifically created to take 3 ideas to market. These are ideas that I have carried around for the last 10 years or so (but seem as relevant now as they did back then) and whilst I don't expect to rival Facebook I believe I can create a comfortable living from their development.
Part of what I intend doing is to create a journal / diary of the transition from a corporate employee to an entrepreneur. From a role where I was surrounded by a massive infra-structure to a new life where I am everything from MD to chief bottle washer. It has been a fair while since I was at the 'coal face' and I can honestly save that I am really looking forward to leaving the suit behind and getting my hands dirty again and actually being able to see and touch a good day's work.
Bizarrely, I am finding the 'downgrading' process strangely cathartic. For the last 5 years, I have spent 4 nights a week away from home, away from family and away from all the toys that I bought that I thought would make it worthwhile. Seems like I have finally learnt a lesson in what is actually important and it isn't the next car upgrade.
So, there we go, I have rolled the dice, let's hope it lands on the right number !
You're mad! Don't do it!!!a little story which will likely bore many but might interest some who they themselves may be standing at a career cross-roads.
After 25 years 'working for the man', I have decided to go it alone. Something I never thought I would do but a recent epiphany (involving a close mate and his health) has convinced me it is now or never.
I am leaving the relative security of a senior role within a Plc (and all the trappings it entails) and will virtually reset my lifestyle and expectations to get this new venture off the ground. It is about 3 weeks since I made the decision and I have been rushing around getting stuff ready and have felt invigorated in a way that I haven't felt for years.
The new venture is a software business specifically created to take 3 ideas to market. These are ideas that I have carried around for the last 10 years or so (but seem as relevant now as they did back then) and whilst I don't expect to rival Facebook I believe I can create a comfortable living from their development.
Part of what I intend doing is to create a journal / diary of the transition from a corporate employee to an entrepreneur. From a role where I was surrounded by a massive infra-structure to a new life where I am everything from MD to chief bottle washer. It has been a fair while since I was at the 'coal face' and I can honestly save that I am really looking forward to leaving the suit behind and getting my hands dirty again and actually being able to see and touch a good day's work.
Bizarrely, I am finding the 'downgrading' process strangely cathartic. For the last 5 years, I have spent 4 nights a week away from home, away from family and away from all the toys that I bought that I thought would make it worthwhile. Seems like I have finally learnt a lesson in what is actually important and it isn't the next car upgrade.
So, there we go, I have rolled the dice, let's hope it lands on the right number !
Oh wait. Software company. I thought you said you'd bought a pub for a minute
#bitteraboutmyownchoicesBest of luck, mate.
After 24 years working for 'Big' plc I did similar - and that was 19 years ago. After a few precarious months I started to bring some money in and, whilst it took a couple of years to get back to where I was in terms of earnings, and a few years after that to get ahead it was the second best thing I ever did (ranking only after getting hooked up with she who is Mrs B!). I've only very rarely had to put in more than 2/3 of the hours I did and usually many fewer and, in recent years I've been earning double what I would have had I stayed in the corporate world. As for quality of life and work/life balance, it's streets ahead.
It's far more stimulating and, as you allude to, you become a great expert at many aspects of business life you never thought you'd need to - legal, HR, marketing, accounting etc - it's all down to you.
Good luck and I hope it works for you.
It's far more stimulating and, as you allude to, you become a great expert at many aspects of business life you never thought you'd need to - legal, HR, marketing, accounting etc - it's all down to you.
Good luck and I hope it works for you.
I did exactly the same 20 years ago, walked out of a senior position at a FTSE100 company, good salary, car, share options etc, with no job to go to.
Started my own business which was very successful and sold it last year. I am now retired living off the pension pot I acquired from my previous employment and couldn't be happier.
Best thing I ever did career wise. I got more satisfaction building up my very small business and making a good living from it than I ever did working for a large plc and all it offered financially.
As long as you can afford to live a modest lifestyle you don't need all the latest consumer goods and brand new cars. Well that's my take on it.
Good luck OP, if you want it to succeed it will.
Started my own business which was very successful and sold it last year. I am now retired living off the pension pot I acquired from my previous employment and couldn't be happier.
Best thing I ever did career wise. I got more satisfaction building up my very small business and making a good living from it than I ever did working for a large plc and all it offered financially.
As long as you can afford to live a modest lifestyle you don't need all the latest consumer goods and brand new cars. Well that's my take on it.
Good luck OP, if you want it to succeed it will.
You have not talked about the most important thing- the finances!
Does your partner have an income, mortgage free/low mortgage/lots of savings or are we talking 3 months savings and the need for the new venture to deliver sharpish??
Also are you hands on programming these software products and will be coding in your bedroom or planning to lead the company and employ staff, is so how much funding do you have/need//where its coming from etc.
Does your partner have an income, mortgage free/low mortgage/lots of savings or are we talking 3 months savings and the need for the new venture to deliver sharpish??
Also are you hands on programming these software products and will be coding in your bedroom or planning to lead the company and employ staff, is so how much funding do you have/need//where its coming from etc.
Hi,
in answer to Hyphen's specific questions.
I am funding the venture myself. I have a decent sized mortgage which will still need to be paid but I have done the numbers and figure I can both fund the new business and my (reduced) lifestyle from savings for up to a year. The new business will employ 2 full time staff in addition to me (and yes, I can code if needed although my focus will be on marketing what we produce).
I briefly considered trying to go it totally alone which would obviously reduce my cash burn rate but it would also dramatically extend the time to market and lose the benefits of collaboration and fresh thinking.
If after a year (and there will be other milestones along the way), I decide that it has run its course, then I have a contingency pot which will last a further 3 months during which time I will made a number of decisions (take equity from proper to continue or jump back into corporate life).
Cheers.
in answer to Hyphen's specific questions.
I am funding the venture myself. I have a decent sized mortgage which will still need to be paid but I have done the numbers and figure I can both fund the new business and my (reduced) lifestyle from savings for up to a year. The new business will employ 2 full time staff in addition to me (and yes, I can code if needed although my focus will be on marketing what we produce).
I briefly considered trying to go it totally alone which would obviously reduce my cash burn rate but it would also dramatically extend the time to market and lose the benefits of collaboration and fresh thinking.
If after a year (and there will be other milestones along the way), I decide that it has run its course, then I have a contingency pot which will last a further 3 months during which time I will made a number of decisions (take equity from proper to continue or jump back into corporate life).
Cheers.
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