Home – New Forums Starting your journey Fork In The Road?

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  • #1238814
    James Millar
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    Something that may resonate with many here so I thought it worth posting up.

    There is a common problem / opportunity that many ambitious individuals face at some point in their career or employment journey. It generally presents when someone is in their mid 30’s and hits a fork in the road with their work and the existing employer.

    The juncture produces two main options. Do you go either (a) upwards with your employer to become an owner of that business or (b) or outwards to start you own business and deploy those skills?

    I’m wondering how many visitors here fall into the (a) upwards or (b) outwards paths.

    Different risks and challenges with each. Would love to hear some stories particularly anyone here that has taken path (a) upwards to take ownership in their employers business (either partially or completely).

    Helping build better businesses and better lives with expert financial and taxation advice. info@360partners.com.au www.360partners.com.au 03 9005 4900
    #1238830
    Paul – FS Concierge
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    Hi James,

    It is an interesting question but one that isn’t relevant to the overwhelming majority of the workforce as they no pathway to ownership of their employers business.

    I wish I had the option when I was last employed.

    I took over a poor performing site in a network of about 80. My site was ranked about 78th of 80 and was still making about $350K on the strength of a strong contract that guaranteed some profit almost no matter how poorly we executed it. 2 years in for me, and profit ballooned to $1M+ each and every year for the next 8.

    3 Years after I left, the site closed.

    Those were the days haha.

    #1238834
    James Millar
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    Perhaps the minority that have the opportunity of buying out their bosses business (although there are a lot of Australians employed by / in small business), but certainly a much larger cohort could relate to the path of potentially going out on their own and applying their trade in a startup.

    The thing is Paul. With the right support, management buy out deals can be put together to facilitate to this. If you had taken ownership of that part of the business who knows where it would be now.

    Helping build better businesses and better lives with expert financial and taxation advice. info@360partners.com.au www.360partners.com.au 03 9005 4900
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