Do You Go Back To A Job?: What to do when you have to make hard decisions on your business
At some point you may have to make the decision – keep your business or go back to a job.
In this video I look at some key considerations you might have on whether to keep your business or start a job.
Join host Our Shawn McBride on the Future Done Right(TM) YouTube Channel. Make sure you subscribe.
#job #careers #backtowork #business #businessowner #joboffer #entrepreneurship
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The Our Shawn: Hey everyone, are Sean McBride with you here. Maybe you’re facing a tough decision. As a business owner and that is whether you go back to a job.
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The Our Shawn: Where do you keep building and growing your business. This is probably a more common situation that what we hear have recently had a business owner, I like and respect. Call me and they were asking about
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The Our Shawn: You know, should I take a job or should I continue building the business, which I’ve built. And so that led us to do kind of analysis and a thought.
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The Our Shawn: And work through the process together. And at the end, they said.
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The Our Shawn: I think I know my direction but you know there’s not a lot of materials out on this. So I thought I’d take a minute and record a video here on the future done right YouTube channel.
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The Our Shawn: And talk about, really, what do you do if you are that business owner that business leader and you get this opportunity.
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The Our Shawn: To go work for somebody else. And I think there’s a lot of options out there. And so I wanted to kind of give us a framework that we can work through it, just like I work through with that business owner
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The Our Shawn: First, I think you need to do a realistic assessment of where you are, where what is your business doing
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The Our Shawn: And this has to be more than just dollars and cents right is the growth trajectory of your business. It’s your positioning
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The Our Shawn: It’s the work and effort, you’ve put into the business, right. How is the business developing. So I think it’s very critical, we know where we are. We also need to know what the job offer is
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The Our Shawn: If it’s like most job offers, you’re probably being offered a position with a salary, maybe a salary, plus some incentives.
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The Our Shawn: But that typically means you’re going to get paid. And then you’ll go back to being an at will employee and many of us have at different points in our careers been an at will and toy.
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The Our Shawn: That can be terminated by our employer at any time, which puts us in a very risky position right. We don’t know when the employers going to say enough is enough.
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The Our Shawn: And cut us from the business. So we need to be very cognizant of that fact. So where are we now,
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The Our Shawn: Where’s our business headed. What are we building to and it’s very important that we look at that future because going to be a very different future than being an employee.
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The Our Shawn: And we’re going to look at what we’re being offered as an employee. I had been through this several times. I’ve had clients approached me
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The Our Shawn: And asked me about removing me for my law firm and having the work for them. And every time it’s been a non starter because
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The Our Shawn: I have a lot of equity in terms of brand within my law firm people know who I am, people down there, my speaking business people pick up the phone and call me.
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The Our Shawn: And it’s self perpetuates to some extent I keep building on that. But if I would be an employee, I would leave all that behind. So I need to know what I have right now.
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The Our Shawn: And so we work through this analysis with this business or where they have now and where they really had it.
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The Our Shawn: The other thing we need to look at is what’s truly being offered for the employment if it’s just a salary, what is that good for right, many of us know some of the downsides of working for somebody else.
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The Our Shawn: Which is we can come and go with their will, will be holding to their decisions, whatever they decide is best for the business will really drive
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The Our Shawn: Where we go right, we are not in the driver’s seat as far as determining our future and our fate. So that’s really a big issue for a lot of us that might be considering leaving entrepreneurship for a job is now we’re back.
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The Our Shawn: And also a big factor of that is the reset realistically if you work for somebody else you’re probably not gonna be able to develop your brand.
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The Our Shawn: And that equity within it, you’re going to be locked into their branding and their positioning
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The Our Shawn: Which means you’re not going to be able to fully develop. So there’s really a lot of considerations here. If you’re a business owner, a business leader.
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The Our Shawn: And you really need to think about what you’re leaving on the table versus what you’re getting.
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The Our Shawn: I think for most of you that are thinking of that you’re probably a tough period, you’re probably struggling
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The Our Shawn: I think you need to think about the equity in your business. What you’ve built and what it’s worth.
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The Our Shawn: Not from a dollars and cents sell it to somebody standpoint, but from a future capitalization standpoint, from building that exponential growth.
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The Our Shawn: That we’ve talked about. There’s a prior video here on the future done right channel go search it where it talks about
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The Our Shawn: Building on your past. So think about those types of things and then make a real decision, I would imagine, for most business owners that have a business that’s
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The Our Shawn: That steady and showing signs of growth, it’s rarely going to make sense to give up all that
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The Our Shawn: Work and all that ability to go work for somebody else. However, if the offer is so attractive. You can’t refuse. And it has a nice signing bonus. Right. You’re going to want a signing bonus because your son, you know, the moment you sign with somebody
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The Our Shawn: You’re giving up a lot of your business. So if you get a nice signing bonus and very nice package that protects you going for it might be worth considering.
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The Our Shawn: And somewhere in the middle is to joint venture or to work with the person who wants you to work with them right come up with some way to collaborate between your existing business in them.
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The Our Shawn: So they can get the benefit of your skills, without having you to cause the shutdown your business and lose your other clients really affect intensive analysis.
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The Our Shawn: Something work through would love your comments. Obviously don’t drop anything confidential. But let me know what you’re facing here on the future done right YouTube channel.
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The Our Shawn: Of course, make sure you subscribe to bring you more videos in the future. All right, folks. Mr. Sean I’m signing off looking forward to talking to you again very soon.