My wife and I have owned a plumbing business for about 4 years, and I have a computer science degree (graduated in 2019). We’re planning on selling the business in the next couple years, I just have no idea what I want to / can do next. I have no experience working in software development as I went straight to owning a business out of college, so I feel like the obvious path of software engineer is out of reach, and I have a lot of general skills from owning a successful business, but aside from entry level positions, most jobs that pay what I think I’m worth are specialist jobs that I don’t really qualify for.
This fear is causing us to delay and feel like we have to keep doing this until we have enough to retire on. I’d like to know what those of you who have sold or are planning to sell your business and get into something else are doing. Any advice is helpful, thanks.
Sounds like you need an operating/management team.
I own a service company that is plumbing adjacent. We are currently building a team to handle day to day operations so we can focus on growing new markets and a better work/life balance. This is my career, but hopefully not forever.
This will allow us to run the business relatively hands off, and it will allow us to eventually sell it as a turn key operation.
You have the business, you’ve done the hard work. Now scale and reap the benefits.
Go work for any company that does Franchising. They often have dedicated contacts for franchise owners. Previous small business owners make up about half that department at my current job.
Pays well too. Bonus if you’re in the same field.
Thanks for the response. Do you mean to look into companies that have franchises (i.e. McDonalds) but for corporate positions that manage regions, etc? Or something else?
My impression is that management often views entrepreneurs under a different light than someone that just graduated or wants to climb the ladder.
Sure, as successful business owner, you have valuable experience and skills. However, you have been calling the shots.
Even above entry level, you will most likely report to someone younger that knows a lot less about the real world than you do.
Are you going to be able to make that transition after being the go to person? Will you be a good fit with the corporate culture? Will you be happy?
I couldn’t do it.
Run a store, work outside, drive a vehicle, and then go work on the sixth floor in a cube environment. No thanks.