> I started my own business just over 1 year ago. The Lord has blessed me greatly! I love being a solo surveyor! I love the flexibility and control. It has been great so far!
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> I then get a call yesterday from a coleague of mine wanting me to do all of their surveying (it is an engineering and surveying company). It sounded as though I would just be subbing their surveying work.
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> I told them I would be in town tomorrow and we could discuss details. I get there today and then I get offered a partnership with a pretty large salary and fully paid insurance for not only myself but my family as well. The salary is enough that my wife could quit her job too. This is a huge decision to make and it has to be made by Monday. Not sure what to do.
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> Matt
If the decision has to be made so quickly I strongly recommend pumping the brakes, slow down, take time making this decision. If the offer still stands after you have taken the time that YOU need to sleep, pray, consult with others, meditate, etc, then fine, if not then fine too.
I stared my business in 1998. Had employees offices partners etc. Have been solo for about ten years.
I have taken a couple 'day jobs' in that time surveying for other employers. My experience has varied from good to bad.
I understand the temptation of the steady income, benefits, the flattery of being offered a partnership.
But if I were in your shoes now I would decline the offer. That is my short answer.
I would be very glad to discuss this in further detail with you on the phone if you want to.
My number is on my website (thanks to Wendell).
I didn't intentionally put my avatar upside down. iOS photos seem to post sideways and upside down on this forum, not sure why.
> I didn't intentionally put my avatar upside down. iOS photos seem to post sideways and upside down on this forum, not sure why.
I think that is totally appropriate though, given your recent conversation with our Lord. I have had similar chats.
I appreciate all of the comments!
Yellow Pad
Write out the Pros, Cons, Questions.
Consider the Pros and Cons on Sunday and talk with your family. Contact them with the questions on Monday.
Yellow Pad
I'm with Mr Spledeus on this. Give it time. Not everybody pulls the solo trigger unless they have due cause. So humble up and really look in the mirror.
Solo to partner seems the reverse order of most solo guys in our profession. Me, I'd sell out this afternoon, but I'm old and tired of the BS of being solo after 20 plus yrs. You just starting is a HUGE step. So what if wifey has to work, so do you. Ponder that in your mirror.
Best of luck to ya. Many of us have "been there, done that, got the tee shirt", so to speak.
Sounds Good, But Beware What A Partnership Means
> You could be liable for all his debts.
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> If he would not let me see his books, I walk away fast.
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> Paul in PA
Good point. More then seeing the books, pay someone such as an acountant to have a look at the books. Partnerships can be fairly risky agreements.
You have been solo for a year and you are happy about it. Keep going solo for a while and sub to them for the next year, get to know each other.
I'm not one of those seeing the over the weekend time span as a problem. You already know these guys. Which way will benefit your family the most? That health Insurance thing is going to become a bigger and bigger issue in the future. Which will benefit your family the most.
It's grand to be independent and your own boss, but does that warm fuzzy feeling serve your family best? You are working to provide for them, not to be able to have your name on your own business cards.
Before Partnering with ANYONE, you would need to see the last 5 years of tax returns for the company, a complete list of assets and valuation of both your firm and theirs. There is no timeframe for this decision. You can agree to an offer in principle and hire an attorney to handle the details. If the offer is truly a good one, it can stand scrutiny
Non Compete Clause
Very good point
