Excerpted from the book on mindful business management, Business Black Belt.
You never know what you can deal with until you have to.
~ DeAnna Sodoma, champion wheelchair racer
You may not need to venture out on your own when you could do the equivalent just as easily within your present job.
Should you jump ship or start a new business within your present company? It’s called intrapreneurship. It makes a lot of sense, and many people do it. You keep your job, maintain your income, benefits, and job security, plus you harness your company’s resources: customers, accounting, marketing, good-will, reputation, name recognition, and finances. After all, your present company’s management knows you and you know them. It can be a perfect environment for incubating your new company.
Think about it for a moment from management’s point of view. It would be expensive to hire and train someone to replace you. Or worse, they could lose you to or have you become a competitor. They’re better off if they support you. Plus, you’d be expanding the company and adding to its profits. If you structure your deal so you get a percentage of the action (increased profits), you can do as well as any independent business owner, but with the “safety net” of continuing income, less risk, and fewer sleepless nights!
Obviously, this may not work if your business idea is completely outside the scope of the company’s business, you can’t stand the management, or you have other reasons for not wanting to have them involved. But, I can’t help but urge you to consider this option before giving up a good job with a good company.
Another option would be to go to another company and propose that they invest in your project.
Management is always looking for good ideas and opportunities for profits, AND they need motivated people to make these ideas happen. More and more companies are promising to put the inventor in charge of the new business. Consider this option before you jump ship. Remember, with a comprehensive business plan in hand, if they don’t go for your idea, you’re already prepared to set sail on your own!
Business Black Belt Notes
- Is it absolutely necessary to leave your job?
- Could you launch your business concept within your present company?
- You could structure your deal so you could make as much money as if you went on your own.
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