Future career/business advice
Discussion
Hi all,
Having recently started a new job I am unsure of what direction I want my future to go and thought here would be a good place to get some opinions…
A bit of background first – I graduated from university in 2015 with a First class degree in Economics. My intention had always been to then get a graduate role in London working in finance or insurance – I had quite extensive work experience in both of these areas. During sixth-form I got a retail job to earn a bit of cash but disliked the repetitive nature so started doing some gardening and handyman work in my local area after putting an advert up – I made good money from this and always had plenty of work from word of mouth recommendations. I carried this work on during university holidays and whilst applying for graduate schemes after university as I enjoyed it (and it provided money!). I have always been practical (as a result of helping my dad with all sorts of large DIY/renovation projects whilst growing up) so could turn my hand to most maintenance/handyman tasks and enjoyed ‘being my own boss’. I did everything from weeding to decorating with plenty in between!
Then, 9 months after graduating I got a trainee insurance underwriting job (not in London) at a large insurance company in the SME sector. This was telephone based but I had plenty of responsibility and learnt a lot – I think I could have progressed quite quickly. A month after joining I got an offer for a graduate scheme for a London speciality insurance syndicate which I accepted as my original goal had been to get a job in London. This job looked idea with a good salary in an exciting area of insurance and excellent future progression.
I have now been there for over 3 months and I don’t enjoy it at all
! I have a fairly long commute (slightly over an hour) which isn’t too bad but means I like to try and leave fairly on time – though I do get in early. I also just find the work a bit dull – I have little responsibility and I find it hard to be enthusiastic. I know responsibility needs to be earned and I don’t expect anything, however there are colleagues doing a similar role to me who have been there for several years. Additionally when I look at my most senior colleagues who have a lot of responsibility I have no desire to get to that point… I just don’t find the work interesting or motivating. Additionally I hate spending all day at a desk with all the office politics that come with it. I also (perhaps foolishly) didn’t realise how sociable this industry/company is – I am not unsociable but with a long commute would rather go home and have dinner/relax with my other half than go out drinking with work colleagues when I need to be on the train again the next morning at 8am for work. However there is a lot of pressure to go out after work regularly (ie more than once a week!).
So now I am pondering what to do and I keep thinking back to my handyman/maintenance work as that is something I really enjoyed. I have done some basic figures in Excel and it seems like it could be quite profitable IF I was able to establish a company doing small (less than a couple of days work per job maximum but also 30 minute/1 hour jobs charged at a premium) handyman/property maintenance jobs. With a few employees doing the same my calculations show it could be very profitable! In the area I would look to set this up there seems to be little competition (according to Google) so I think there could be an opportunity.
However I don’t know if this is mad? Leaving a respected graduate scheme with good earning potential in the future? I like the idea of establishing a business that is mine and hopefully achieving a good work life balance in the long term – I know it would be hard work but it excites me compared to my current role which doesn’t. The potential to make good money by scaling up also is appealing.
Lastly I have a bit of freedom with regards to finances – I rent with my long term girlfriend but have £75k put away. Some of this could be used to establish a business and live until it is profitable – I cant afford to throw it away though as it will form my house deposit eventually!
Sorry that is a bit of a ramble but its already helped typing it out and any advice is welcome and appreciated
Having recently started a new job I am unsure of what direction I want my future to go and thought here would be a good place to get some opinions…
A bit of background first – I graduated from university in 2015 with a First class degree in Economics. My intention had always been to then get a graduate role in London working in finance or insurance – I had quite extensive work experience in both of these areas. During sixth-form I got a retail job to earn a bit of cash but disliked the repetitive nature so started doing some gardening and handyman work in my local area after putting an advert up – I made good money from this and always had plenty of work from word of mouth recommendations. I carried this work on during university holidays and whilst applying for graduate schemes after university as I enjoyed it (and it provided money!). I have always been practical (as a result of helping my dad with all sorts of large DIY/renovation projects whilst growing up) so could turn my hand to most maintenance/handyman tasks and enjoyed ‘being my own boss’. I did everything from weeding to decorating with plenty in between!
Then, 9 months after graduating I got a trainee insurance underwriting job (not in London) at a large insurance company in the SME sector. This was telephone based but I had plenty of responsibility and learnt a lot – I think I could have progressed quite quickly. A month after joining I got an offer for a graduate scheme for a London speciality insurance syndicate which I accepted as my original goal had been to get a job in London. This job looked idea with a good salary in an exciting area of insurance and excellent future progression.
I have now been there for over 3 months and I don’t enjoy it at all
! I have a fairly long commute (slightly over an hour) which isn’t too bad but means I like to try and leave fairly on time – though I do get in early. I also just find the work a bit dull – I have little responsibility and I find it hard to be enthusiastic. I know responsibility needs to be earned and I don’t expect anything, however there are colleagues doing a similar role to me who have been there for several years. Additionally when I look at my most senior colleagues who have a lot of responsibility I have no desire to get to that point… I just don’t find the work interesting or motivating. Additionally I hate spending all day at a desk with all the office politics that come with it. I also (perhaps foolishly) didn’t realise how sociable this industry/company is – I am not unsociable but with a long commute would rather go home and have dinner/relax with my other half than go out drinking with work colleagues when I need to be on the train again the next morning at 8am for work. However there is a lot of pressure to go out after work regularly (ie more than once a week!).So now I am pondering what to do and I keep thinking back to my handyman/maintenance work as that is something I really enjoyed. I have done some basic figures in Excel and it seems like it could be quite profitable IF I was able to establish a company doing small (less than a couple of days work per job maximum but also 30 minute/1 hour jobs charged at a premium) handyman/property maintenance jobs. With a few employees doing the same my calculations show it could be very profitable! In the area I would look to set this up there seems to be little competition (according to Google) so I think there could be an opportunity.
However I don’t know if this is mad? Leaving a respected graduate scheme with good earning potential in the future? I like the idea of establishing a business that is mine and hopefully achieving a good work life balance in the long term – I know it would be hard work but it excites me compared to my current role which doesn’t. The potential to make good money by scaling up also is appealing.
Lastly I have a bit of freedom with regards to finances – I rent with my long term girlfriend but have £75k put away. Some of this could be used to establish a business and live until it is profitable – I cant afford to throw it away though as it will form my house deposit eventually!
Sorry that is a bit of a ramble but its already helped typing it out and any advice is welcome and appreciated
It's fairly normal to feel a bit disheartened early on - I know I did on a graduate program with a large firm and almost all of my peers felt the same at one point. I'm glad I powered through and that was ultimately the right choice for me.
That said the business you have sounds fun so a good option there too.
That said the business you have sounds fun so a good option there too.
Thanks all for the replies
@ akirk - Yes that's what I'm wondering - whether that itch to start my own business will mean I'm never happy where I am now!
@ CrouchingWayne - That's good to hear that you also had doubts during the early stages of a graduate scheme, other people have said that so I wonder if I should stick with it for a few more months.
@ desolate - I would be interested in starting something in the SME insurance sector however I don't think I have the necessary knowledge and experience so my business would be in the property maintenance/handyman sector.
It's just difficult (as with lots of businesses) to know if it's viable? Also plucking up the courage to do it is difficult when you have a safe job elsewhere! I might do some more calculations later..
@ akirk - Yes that's what I'm wondering - whether that itch to start my own business will mean I'm never happy where I am now!
@ CrouchingWayne - That's good to hear that you also had doubts during the early stages of a graduate scheme, other people have said that so I wonder if I should stick with it for a few more months.
@ desolate - I would be interested in starting something in the SME insurance sector however I don't think I have the necessary knowledge and experience so my business would be in the property maintenance/handyman sector.
It's just difficult (as with lots of businesses) to know if it's viable? Also plucking up the courage to do it is difficult when you have a safe job elsewhere! I might do some more calculations later..
Sounds like you have the necessary skills to at least do the grunt work on a property refurb, and the background to get some jobs to use as working capital.
Not easy to get into, and there's some risk (always is) but sounds like you're not going to be happy grinding away in an office for someone else - at least until you have tried going it alone.
Likely to be a couple of years of seriously hard work and long, long hours .... but the rewards are there.
You have the education to fall back on, I'd go for it!
Not easy to get into, and there's some risk (always is) but sounds like you're not going to be happy grinding away in an office for someone else - at least until you have tried going it alone.
Likely to be a couple of years of seriously hard work and long, long hours .... but the rewards are there.
You have the education to fall back on, I'd go for it!
Similar sort of situation, worked for a global company in IT, started as a trainee at 18 on the Service Desk and by 21 was in a 3rd line role, but I was growing really tired of office politics and felt really within my comfort zone.
I decided at 22 to chuck it all in and set up self employed as a consultant/contractor - It was a big jump considering most people in the market have years more experience, but personality/confidence/charisma also play a huge part in it all. I've not been out of work since and i'm now looking into buying my own house and a buy to let, it's more than a lot of 23 year old's and I will never regret it!
Having a vision to do something is half the battle, just do it and ignore everyone else that says you can't.
"He who is not courageous enough to take risks will accomplish nothing in life." Good old M Ali!
I decided at 22 to chuck it all in and set up self employed as a consultant/contractor - It was a big jump considering most people in the market have years more experience, but personality/confidence/charisma also play a huge part in it all. I've not been out of work since and i'm now looking into buying my own house and a buy to let, it's more than a lot of 23 year old's and I will never regret it!
Having a vision to do something is half the battle, just do it and ignore everyone else that says you can't.
"He who is not courageous enough to take risks will accomplish nothing in life." Good old M Ali!
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