Need career advice

[ace e]

An opportunity has come up and i thought who better to ask than you guys and get some opinions and ideas.
Just so you know i have consulted the wife and other family members but it dosnt hurt to ask around.

I work in finance (up at 6.30am and home at 6.30pm) and have been doing so for 11 yrs. I am currently unhappy with the current job i am at because of a few factors but in particular the fact that they are hiring a person who is less experienced than me but will be earning the same if not more than me. I didnt get a pay rise last yr and i have asked for a pay rise but got nowhere (i didnt tell them i know the new guy will earn more than me). Anyway my brother in law has offered to sell part of his business to me, its a Delivery business which will involve being up at 3am and finishing anywhere from 11am to 2pm. There will be outlay costs but i will be earning twice what i earning, the question i ask is do i put my career on hold/end and do my own business?
Take into account:

I probably wont earn that sort of money for another 5-10yrs in finance.
The business will be quite solitary and dosnt involve much thinking.
I will never become a stockbroker (my career goal when i left high school)
I can go back to finance if i chose but only as a manager/team leader.
No more trains.
3am starts (i dont mind atm - but it might change).
They will sell me the business for quite cheap.
No sick/holiday leave.
Cant bludge and surf ebay and ozcards all day.
Will have to go to bed at 8pm.
To further grow in finance i have to move to another company as there is no growth opportunities where i am at.
I have been looking for a new job for 2-3 months with no luck.

The list is endless.

 

[mattyj]

3am starts are killer...they sound ok, but once you start doing them for a while, they really hurt...i work at a dairy and know all about stupid working hours...

 

[Dr. Curlytek]

Although "Cant bludge and surf ebay and ozcards all day." is a really big negative, it sounds like a positive move. Especially if you know FOR SURE that the business is sound and that buying into it is not going to end up costing you in the long run.

On the other hand, if you think that you have the chance to become a stockbroker by staying on your current career path, and that is your dream, then maybe you should stick to it. 3am starts sound like a real killer to me, though the 11am finishes sound like a treat!

 

[ace e]

3am starts are killer...they sound ok, but once you start doing them for a while, they really hurt...i work at a dairy and know all about stupid working hours...

i know but i am a bit of a night owl, i can survive on 6-7hrs of sleep, the driving a truck in North sydney is the worrying part for me.

 

[ace e]

Although "Cant bludge and surf ebay and ozcards all day." is a really big negative, it sounds like a positive move. Especially if you know FOR SURE that the business is sound and that buying into it is not going to end up costing you in the long run.

On the other hand, if you think that you have the chance to become a stockbroker by staying on your current career path, and that is your dream, then maybe you should stick to it. 3am starts sound like a real killer to me, though the 11am finishes sound like a treat!

Thx Doc, i am torn but the money seems to be swinging me (the business is sound and i will make sure before i get into debt for it but it should pay itself off in 3-5yrs (5yrs only because of the house mortgage).

I am really torn.

 

[yellows2k]

u sound like the legions of disgruntled middle managers/accountants/ finance guys/ it guys/ lawyers that i see everyday. dime a dozen.
the corporate life does that to u, sucks the life right out of u.

r u degree qualified? do u have a masters? perhaps that is stopping ur progression. i know that when i was doing my mba, i saw so many middle aged guys, middle managers that NEEDED to get that piece of paper to move up. it was quite sad really. thats one of the reason i never went that way.

im lucky that our family has a few businesses, and we work for ourselves. i see it everyday, people always think the grass is greener, sometimes it is.
they see being a courier driver or owning a cafe as the way out of their rut. it could be a nice change, who knows. just do what u feel is right for u. where r ur priorities. is it financial, or r u one of them hippy tree-huggers that feels u need to make a difference, or u want to pursue a fulfilling career, please.

anyway, no one can really make ur mind up except u, but we can offer input. mine is, ask urself what u want, if its financial, then i guess the business is the way to go, if its a sound business

 

[yellows2k]

oh, and why would being a stockbroker be a dream?? its a highly stressful job, and ur just a glorified salesman, trying to get more clients.

unless ur talking a stock analyst?? whereby u actually follow the market. but those guys r like the 1%'s, really switched on

 

[wall4ace]

i use to do 1-3am starts years ago,finished at 9am,was driving a truck,i loved it,but that was me

goodluck in ya choice mate


cheers

 

[ace e]

u sound like the legions of disgruntled middle managers/accountants/ finance guys/ it guys/ lawyers that i see everyday. dime a dozen.
the corporate life does that to u, sucks the life right out of u.

r u degree qualified? do u have a masters? perhaps that is stopping ur progression. i know that when i was doing my mba, i saw so many middle aged guys, middle managers that NEEDED to get that piece of paper to move up. it was quite sad really. thats one of the reason i never went that way.

im lucky that our family has a few businesses, and we work for ourselves. i see it everyday, people always think the grass is greener, sometimes it is.
they see being a courier driver or owning a cafe as the way out of their rut. it could be a nice change, who knows. just do what u feel is right for u. where r ur priorities. is it financial, or r u one of them hippy tree-huggers that feels u need to make a difference, or u want to pursue a fulfilling career, please.

anyway, no one can really make ur mind up except u, but we can offer input. mine is, ask urself what u want, if its financial, then i guess the business is the way to go, if its a sound business

Thanks for the advice yellows2k (lol at the tree hugging hippy part), i dont have a degree but i have a few college diploma's. It does suck the life out of you but the major problem i have is that its not what you know its who you know and who you go out drinking with all night every night. Most of the guys in the industry are divorced because of it (and for screwing around), that is not my scene, i like to come home to my family. In saying that i may be throwing away a career for $$.

 

[ace e]

oh, and why would being a stockbroker be a dream?? its a highly stressful job, and ur just a glorified salesman, trying to get more clients.

unless ur talking a stock analyst?? whereby u actually follow the market. but those guys r like the 1%'s, really switched on

Stockbroker was the general term, House trader is the more correct word.
Either way its tough to get into without contacts.

 

[DGCollectables]

Running your own business should be your goal. And if the opportunity comes knocking, waking up early should be worth it and being your own boss and seeing the results and know that everything you do is for the business is rewarding.

 

[adhunt99]

I think that if you want to give the delivery thing a go, then just do it, as long as you are able to get out of it if you don't like it. I don't know how much you are getting paid but if it's half what you get for doing deliveries and you hate it, doesn't sound worth it to me. And if you wanna move up that corporate ladder, do some finance or economics at uni part time and then by the time you've got your degree your delivery thing might be running itself and you'll be laughing...

Nothing's worse than being stuck in a rut, I was last year, then my missus got a job in canberra in november, i made the tuff choice and tagged along, a month later i had a job paying twice before and have been promoted once already. Not trying to blow my trumpet, but a change'll do wonders for your motivation too - just make sure your new opportunity is secure.

 

[HBM]

There is nothing better than being your own boss. Take that for what it's worth.

 

[lockymac]

As HBM and some others have said, there are a lot of advantages to running your own business.
After 11 years working as an employee I started my own business in January, and it's been one of the best decisions I've ever made.
Good luck in whatever path you choose to follow.

 

[Klattsy]

i know but i am a bit of a night owl, i can survive on 6-7hrs of sleep, the driving a truck in North sydney is the worrying part for me.

Hi Ace e,

I accepted a job for a delivery/salesman which involved driving a Truck last year. It was through-out Brisbane suburbs (no CBD). Starts where 4:30AM and because I was so new at routes and processes I was getting home around 7PM.

I went on a trial and thought "I can do this"...it was fine when I had an experienced driver next to me, but when I was on my own I struggled badly. Nothing was sinking in and to top it off i failed my truck license 3 times (mainly thanks to Nazi instructors)

I lasted 1 day after my trial finished. I though it would be good, they told me "you'll finish at 2pm-3pm" but I never did. It was hot and cramped it the truck and it really wasn't for me.

Initially, I was so desperate to leave my previous job that I took the position.

It wouldn't be the sleep, it would be the hours you're NOT at home. I mean you may already have a MR licence and be fine with your area. I know I struggled though. Now i'm back at a desk job and much happier.

Just my 2c

Mark.

 

[Wilson]

Anyway my brother in law has offered to sell part of his business to me, its a Delivery business which will involve being up at 3am and finishing anywhere from 11am to 2pm. There will be outlay costs but i will be earning twice what i earning, the question i ask is do i put my career on hold/end and do my own business?
Take into account:

Hey Ace,

You should also ask (although you may know the answer already) why is your brother in law selling part of the business? Sick of the hours, maybe the business isn't running so well?? Who knows.

Just a few questions to consider.

Wilson

 

[ace e]

First of all , huge thanks for the replies - they are exactly what i am after.

The reason for my brother in law selling this part of his business is that he got given this run on top of his current run. He built it up and has decided to sell because he needs to focus on his main business. I know for sure he is not selling a dud part and will do all the financial investigation/analysis before i do anything. I will do a couple of trial runs with him and best yet i can always rely on them for help and support.

 

[adhunt99]

trial runs are a great idea, dont jump ship before you know the other one's not leaking too

 

[yellows2k]

i know plenty of fastway drivers, toll drivers, and independents. its a cruisy lifestyle, besides the hours. if u have a good run, and a good truck, then u can clear in hand $1500-2k each week for about 50 odd hours work. not bad

 

[adhunt99]

yeah my boss' former boss used to be very high powered, now has semi-retired to become a delivery driver and apparently loves it