Deleted
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Post by Deleted on Nov 17, 2018 1:32:50 GMT
Good for you.
It is a lesson to learn that there needs to be a great deal more to life than work.
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Post by Humph on Nov 17, 2018 9:34:46 GMT
Configurating a Duster as we speak... 😉 It's the second job as a cleaner that's made the difference then....? Tarzanogram
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WDB
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A-levels
Nov 17, 2018 12:30:34 GMT
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Post by WDB on Nov 17, 2018 12:30:34 GMT
Aaaaah-aaaah-eeee-aaaaargh! 😱🙈
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Post by bromptonaut on Nov 17, 2018 13:37:42 GMT
My attitude to work was exactly the same as WDB's above - some people live to work, but it's a better quality of life if you work to live. I got to senior manager, but was never ambitious for the top level. When she was about 15, my younger daughter said 'Dad, I'm glad you never went for the top job - I'd never have seen you'. To me that matters more than ambition. As the only one of us (I think) who's got to that stage, I can thoroughly recommend semi-retirement. I still write and examine, which is enjoyable and supplements the pension, but nearly all of it can be done at home: and there's time for plenty of voluntary things to keep me sane - and to avoid gardening apart from mowing and pruning. Semi-retired is pretty much where I am. Was right place/right time to pass Civil Service Direct Entry to Executive Officer at age 18 - quite unusual at time. Started off ambitious and got to next grade after 5 years, again youngest on course. Got on a bit of a hold after (a) fluffing a an objective and (b) working for an industrial psychopath. Ended up with bad anxiety; contemplated jacking it it in and training to be an electrician. Recognising I was a much better technician than manager spoke to HR who said head of one of casework divisions for whom I'd previously been a service provider would welcome me with open arms. Took that up and too my slight surprise was quite good at it. Learned loads of stuff about benefits, running litigation and dealing with people - particularly on the telephone. Then kids came along and steady 9-5 was a great boon. Incremental salary plus annual revlorisations of pay scale AND John Major's Citizens Charter sending year on year cost of rail season downwards we managed fine financialy Eventually after highly critical report from National Audit and a stinging Quinquennial review set up for us to fail the work was outsourced. A spell as technical advisor to the outsourcing project eventually ended. Applied for job in Quango and came second by a fag paper's width but got a post anyway. Stayed there, on temporary promotion that was eventually made permanent until abolition was announced in 2010 and eventually achieved in 2013. At that point they paid me off with unreduced pension based on 35 years service. Took a few months fully retired then started volunteering it Citizens Advice. That developed into paid employment and I'm now working 2 or 3 days plus one volunteering. Nearly all telephone advice/assessment. Draw heavily on skills I gained as a caseworker but plenty of insights gained at Quango too. Absolutely love doing it. Pay is a bonus!! Sixty in just over a year and might review commitments then or when Mrs B finishes her PhD.
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Post by Deleted on Nov 17, 2018 22:53:08 GMT
Made a momentous decision a few days ago. I have been slogging my guts out to keep a growing firm profitable. Could never quite understand why we made less money than we should have done. Clearly down to too high expenses so we have started on the road of redundancies and cost-cutting. Its starting to work, but.... it's stressful and some staff just don't understand that there is no money tree (much like my children...).
Out of the blue I got an invitation to lunch from the MD of one of our competitiors. I know him well, but not well enough for lunch. Eh Up! I thought - what's all this about? But the answer was obvious. Are we up for a merger?? In reality a take-over. Some discussions about money are in progress but the main points are that they want me, my professional staff and our clients. Some admin staff will eventually depart with pay-offs but the professional staff will be better off in a larger company. Relocation to city centre which is no bad thing as it will cut my communiting distance by half, if not the time. They are even happy to give me a long term contract, some shares and directorship to take me through to 60.
The real benefit is that at 54, I see an exit. Current staff not really in a position to consider buying me out now or even in a couple of years time. This gives me a release from all the business admin stuff I am terrible at (or get too involved in), and I can concentrate on my professional work and winning business in that area. Espadrille happy which is important.
Just need to bottom out the financials. Think we are reasonably close.
Its dawning on me that retirement is closer than ever and I might have another 30+ years. I enjoy surveying, so carrying on till 60 is not daunting as long as the quality of work is there. But I do want to stop at some point.
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Avant
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Post by Avant on Nov 17, 2018 23:24:41 GMT
Congratulations Espada, and I hope it all goes through OK. You've done what I never had the oomph to do - build up a successful business on your own *and* keep up to date professionally *and* service clients. You've proved you can do all that, but I suppose now there's nothing left to prove that you haven't proved already. Sounds like exactly the right thing to do at this stage: you can carry on doing what you enjoy doing for now with less of the hassle and the risks that you'll have had on your own. Best of luck.
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Rob
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Post by Rob on Nov 18, 2018 0:37:55 GMT
Sounds good Espada. If the financials are right maybe you can stop before you are 60 full-time and do some part-time work.
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Deleted
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Post by Deleted on Nov 18, 2018 8:52:10 GMT
Thanks both.
Moving to a part-time role as I get closer to 60 certainly is in my mind but I will cross that bridge once I have had a couple of years with the new company.
The only downside is that my elder son who is studying real estate at university will not have a family business to go into. However given that I did not want him to train with us anyway and in the long term he wants to be in London I am not overly concerned.
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Post by Humph on Nov 18, 2018 10:38:22 GMT
Hmmm, think long and hard about it. I spent the first part of my working life climbing various corporate ladders until I found myself as the marketing director of a large well known company. With that came all the benefits you'd imagine, and some of the downsides you might not immediately think of. Eventually, I decided that I'd chance going it alone, and ran my own, much smaller operation for a number of years. Some of those years were challenging, while others resulted in good success.
The main thing for me though, was that I was much more the master of my own destiny for a while, but I was in due course approached by a larger, wealthier company with a proposal which involved me working for them on a good package in return for me bringing my customer portfolio to their company. I accepted that offer and here I am today as sales director of that business.
By and large it works for me I suppose, however, there's a small, but significant part of me that regrets giving up my "freedom", and while most of the time I'm able to do things as I see fit, occasionally, the strategy I'm asked and required to follow, is in conflict with my opinion as to what we should be doing, and I find that quite hard sometimes.
Be sure you could live with being told what to do by someone you might occasionally think is making the wrong decision.
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Post by Deleted on Nov 18, 2018 11:52:22 GMT
I know how you feel. I have done corporate at the beginning of my career and I coped. With this company they are not much bigger than us, so far less corporate. It's not for ever and is my exit, so it will be fine.
They are the sort of firm who understand freedom. I have told them about my visits to Israel and other its which mean I probably have about eight weeks a year out of the office. They weren't bothered, especially wht my FD advised them that I am usually at my laptop at least once a day for an hour each day I am away.
Strategy is one point we could differ on, but its early days and I get the imporession they want me for what strategy I can bring rather than the other way round. We'll see. It may not happen; if it does, its on my terms.
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Deleted
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Post by Deleted on Nov 18, 2018 14:28:59 GMT
>>Hmmm, think long and hard about it.
Let me repeat that, several times. Most of the time such arrangements as this do not go well. Not down to anybody trying to screw each other, just how things work.
You will not have ultimate authority. You are entering a world where you can be told what to do. Even on little annoying things that you might not think important, or on big stuff which you think is critical.
It's all in your mindset and preparation.
You need to move your mind to a place where this is just a job, and the future of the company is not important to you. You have to understand and believe that you have no responsibility for your ex-employees beyond trying to make sure they are treated fairly.
And you need a planned exit, with a "get out in 6 months" option.
You need to have a financial agreement and a contractual agreement which enables you to walk with comfort after 6 months. Otherwise if it is unbearable you will find yourself in the horrendous position of having to work for money and contract.
You need to understand what they are buying from you, why they want it, and why they believe it is a better decision to buy it than grow it. And there may be ulterior or obscure reasons.
Do not make this decision out of tiredness or frustration. Don't be too quick to grab it, or to slow to negotiate for more.
Without knowing anything factual, my gut feel says you're going into this without enough consideration or safety net and without defence against change.
e.g. They are the sort of firm who understand freedom
And the CEO dies of a heart attack and some rabid 35 year old takes over?
And you should not be under the impression that they want you for the strategy, you should know. And probably that is not it. Strategies can be bought/developed for less than a company. More likely it is to do with competitive advantage and fast achievement of critical mass. Perhaps even solving a financial or portfolio imbalance in their own company.
I may be entirely wrong, but if you think I can help / advise / discuss / add value in any way, please do not hesitate to contact me and I will help how I can. No charge, of course.
Call me or not, let me say in the strongest terms - I do not believe that you have thought this through sufficiently calmly and objectively with a clear head. Company transactions are the purview of the suspicious and the cynical. That's why we're good at it rather than nice.
Having said all that, if you're sure it is what you want, and if you are sure that it is the right direction for you, then my heartfelt congratulations and I wish you the very best with it.
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Post by Deleted on Nov 18, 2018 14:39:07 GMT
p.s. that kind of sounds like I am rudely sticking my nose into someone else's business uninvited, I apologise if it came across like that.
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Post by lygonos on Nov 18, 2018 16:51:22 GMT
I'm always impressed that a guy who would likely charge ~£2000 a day in the corporate world is happy to help relative strangers from a website pro bono.
Presumably a combination of educating others/handing on acquired knowledge, and seeing a new challenge to have a go at?
Doctor comes from the latin meaning "teacher" and the successful transmission of knowledge is certainly a big part of the job satisfaction, as well as solving the problem brought to you.
Maybe it's the same for all professions.
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Avant
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Post by Avant on Nov 18, 2018 17:03:49 GMT
Otto, both you and I have been 'virtual friends' with Espada for some years now, and my strong impression is that he will already have thought this through 'long and hard'. I suspect he wouldn't have gone into this if the buyer was a large corporation, who would be much more likely to do as you're suggesting than a business which is only slightly bigger than Espada's.
And at his age he has enough expertise, and presumably money if the financials all work out, to get out if things don't suit him, and set up a consultancy.
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Deleted
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Post by Deleted on Nov 18, 2018 17:13:35 GMT
Avant, no doubt you are correct, but it's probably better to offer when it is not needed than to fail to offer when it is.
And, talking about no one person in particular, it is an unusual person who can look at their own business and life objectively. People can be deceived by what they want to be true and their optimism about the future. I also think that after so many years of fixing failed transactions, it is amazing what people don't see coming when it is entirely obvious and predictable to me.
I suspect that is true of all of us in our chosen professions. This just happens to be mine.
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