Leaving your company to create your own with the right exit strategy

Leaving your company to create your own

Leaving your company to create your own

The entrepreneurial desire can come to you for more independence, maneuver margin, creativity, satisfaction or increase of revenues. For some it could be a great sense of accomplishment, professionally or personally.

May be, it is about your feeling to have fully explored what a function or a company can offer, or that dealing with a hierarchy is heavier to you by the day, or a certain will to better control your life or simply because you just can’t find the right employee job for you, are some of the dynamics that can lead you to create or buy your own company.

As a start it is key for you to have the necessary financial means to walk into that project with a serine mind and therefore leave your current post in good financial conditions.

There are a number of mistakes you would be well advised to avoid:

  • I am going to talk to my boss about my project, he’ll be proud of me.
  • Better play it cards on the table.

Coaching for leaving your job to start your own business

Let’s overlook these 2 aspects in the context of this article.

I am going to talk to my boss about my project, he’ll be proud of me.

No! Even if your boss is a serial entrepreneur why would you want him to be pleased by your project to leave the company since you’re a good element and that you might well reuse some of the processes or techniques the company has paid dear money for? And if your new activity would compete with your current company on top of that …

Even if this is overall a positive evolution for you keep your project secret as long as you are in the company otherwise, chances are you’d be cut off from clients, decisions or any valuable information until you leave particularly if you become a competitor!

It would then be easy for your boss to put you aside and wait for you to resign if you knew about your project as he would have no interest to give you a Mutually-Agreed contract Break-up or fire you. May be a bonus but yet much less than what you could have had otherwise.

Yet, some available savings are necessary as you would probably not grant you a salary and some investments will have to be made.

So, it is important to lay a favorable ground for a negotiation. The target is that the company sees an interest to let you go and not the other way around.A good way to lead to a discussion is to point malfunctions, dissatisfactions, oversized ambitions. Otherwise, your boss will just wait for you to leave, this would cost him nothing.

Better play it cards on the table.

Si you felt compelled to be totally honest or if you had the idea of making some future business with him, you could be tempted to tell him beforehand that you’re about to create your own company.

You might even register your new company before leaving and think it is very unlikely that your boss knows about it. Well, this is very risky. This a small world and you never know how this information may find its way to him, either as a rumor or through looking official registers on the web. Your decreasing motivation can even alert him or HR …

So, you really had to register the new company before leaving the current one, have one of you associates do the registration under his name.

Also, the perspective (or promise) to do business with him in the future light be a lure (except if they originated the idea) as they can always see your project as a act of defiance or the inception of a new competitor.

Conclusion

You really have nothing to gain from divulging your project. Your departure in good financial conditions will lean on other elements and it will be adequate to protect yourself from the risk of your image and reputation being damaged by your company in your new field of operations.

To know more on the topic of leaving your company to create your own and negotiate your departure, please use the enclosed contact form.

 

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