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Should an Entrepreneur Take a Traditional Job

Part of me hates to write this post. However, this question keeps coming up so I thought we should address it.

Over the years, many of my entrepreneurial friends and clients have been offered jobs in the traditional workplace. Some have accepted the positions and some decided to continue building their businesses. A few weeks ago, the same thing happened to another friend. He is in his Sophomore year of being a solopreneur and was offered a job. It is a lucrative, pays-much-more-than-he’s-making-right-now job.

Here are 4 things I asked him to consider:

1 – How Are Your Finances?

Start by taking a hard look at your financials. In case you missed it, here’s the Don’t Be a Small Business Moron post. It basically says if you can’t pay your bills – get a job; any job that will help you pay bills and build up your savings.

Let’s say you’re not financially desperate but you do need more money. Then what? Consider taking a part-time job to supplement your income. If that job is in your same industry, even better. (See #2 below.)

If you are in great shape financially and you love your small business, keep doing it.

2 – Will The Job Help You Grow Your Business?

One of the next things to consider is whether or not this job will help you build your: a) credibility and b) exposure.

In the case of my client, he was offered a high-paying sales position in his same industry. Taking the job would help him:

Establish contacts and build relationships with wholesalers.
Gain exposure to new product lines.
Offer his current clients discounts on products.

Those are all wins for him. Potential wins for you might be:

Expanding your visibility through high-profile work or speaking opportunities.
Opportunities to educate yourself about new technologies, science and trends.

If temporarily taking this job will help you achieve your long-term goals for your business, and you are willing to sacrifice some of the autonomy you currently have, do it.

3 – Would You Love the Job?

If you would, take it. If not, don’t – unless the Moron Rule applies.

4 – Set Aside Your Pride

Invariably in these situations I hear something like, “People will think I failed,” or “People will see this as a sign of weakness.”

My response? Who gives a crap what other people think.

The good book says, “Pride goes before a fall.” Don’t let your pride or even your insecurity get in the way of doing what is best for you, your business and your family. This is your life, not anyone else’s. You get to define success for yourself.

(This article from Under 30 CEO has good advice for those of you who are currently working in the traditional workforce AND running a small business.)

Disagree? Agree? I’d love to hear your thoughts.

Shut the front door! There are more posts like this? Yes!