Partners, do any of you regret not starting your own business?

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Sure. I left as a fairly new partner. Started a business building a tech solution for a specific use case. Very niche. I had a couple co founders from industry and academia. We sold to a publicly traded company. I had to work at the company for 18 months to help them integrate. After that, they made me an offer to stay but I decided to take a year off and figure out what I wanted to do. Honestly I had been going non stop for years and struggled with the down time :) within a few months I was having lunch with folks trying to figure out my next move. Ended up back in consulting. With a different firm.

I really liked the start up. But it was really stressful and I constantly worried that I didn’t know what I was doing. We were wasting our time, we weren’t building the tech to scale, we were paying too much for office space, we didn’t have the right incentives for our employees and they were going to leave, etc etc. It was like just living on the edge and never feeling like you had anything under control. You can’t take a vacation. Ever. My wife and kids never saw me. Even when I committed to things at home, i would often have to bail. It was a lot. But looking back, I really loved the work.

As a partner, you really are running a business. But you have a ton of support operationally, you have to find and groom your staff, but it’s so easy. You have to find clients, but the brand and marketing make it easy. You have your partners that are generally willing to help and support you. And there’s a fairly reliable comp plan with a pension. You’re not going to get rich being a partner, but it’s a very nice and stable life. And I have a lot more time for my family. Which is important now as my kids are about to enter high school and soon enough they will be out of the house!

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This is an amazing reply. Thank you for this.

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I left consulting to start my own business, sold it, and returned to consulting. Starting your own business is similar and different to being a partner at a firm. In either case you are responsible for your people, clients, and product/brand.

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Do you feel like you gained significant skills that helped you when you returned? How long was the gap? TIA!

I left consulting and went to a startup - not as a founder though . I was very successful in that role but somehow I ended up back in consulting with a whole new appreciation for the blessings that come with it . My current thinking is that I am not wired to be a founder - but I have the skills and experience to be a good angel investor . So my satisfaction is now about helping entrepreneurs with their startups

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i’d be really interested in some good input on this. have been analyzing the skills and experience of people who have their own businesses and srsly thinking about how they might have the upper leg on a lot of skills and just knowledge

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