Confusion Reigns Supreme
Well...the last couple of weeks have been an insane blur of general confusion.
I'm going to cut-tag what could be a long and complex post, but if you have 10 minutes, I would appreciate your input.
It all started when the MD and I had a meeting about a week and a half ago. I haven't posted before now, as I wanted to make sure the stakeholders in this (my staff, family, key clients etc) were told properly and had the chance to let it sink in and give me chance to cover the awkward questions, like other peoples' job security and the direction of the company, before making it public.
The plan is to restructure the business, getting rid of all the stuff we do that isn't profitable, and refocussing on the key areas.
Unfortunately, this means that, by making this decision, we've effectively made me redundant, as without all these random odds and ends, there's not an awful lot to manage that isn't already covered by the team leaders. I've put procedures and plans in place that take the real creative thinking and strategic elements out of my job description - as it's all done.
I know that this state of affairs would cause a fair few people some problems, but I seem to be in the midst of an over-abundance of options.
Firstly, I have 3-4 months before I actually need to leave, although we've negotiated a deal whereby if I get a an offer I want to take, we'll both be flexible on how I go about taking it, so I'm not going to be on the dole next week.
My choices, as I see them, are as follows:
1) I get another job. Much as the world's going crazy about the increasing unemployment lines, in my sector and skill-area, I've found over 100 jobs in the last 2 days available in the local area alone. In that regard, there is a sliding scale of remuneration and how much of my soul and family life I'm prepared to compromise. At one end of the scale, there's the spiritually rewarding little projects that will earn around £25k a year with lots of free time, and at the other end, there's busting my arse 60 hours a week and living in airport lounges, but pulling £60k a year. Somewhere in the middle of these extremes, there's a fair few reasonable options.
2) Andy's told the boss of his intention not to renew his contract when it comes up at the end of December. He's going to be running his own electrical testing business, doing what he's trained to do in the last couple of years. He's already got a couple of customers lined up, so that will cover some of the living expenses.
3) The boss has offered us both part of the business that he would otherwise be closing. I've done the maths, and it would be worth accepting conceptually, although it won't pay the bills on it's own. It will involve a few hours per week, and will bring in a reasonable amount of part-time income. There's no outlay, as he'd be giving it to us gratis in exchange for servicing existing customers' tech support (mainly by email) and warranty issues. It isn't going to make us rich, but it is a gift horse, and it's a good deal. It'll solve a problem for him, and provide us with a little background security.
4) I considered interim management or more specifically, business consultancy. I've a CV with a strong track record of making companies money, and saving companies money, all with an ethical standpoint. Hell, I got so into it, I wrote a book on it! Here's where it gets complicated, but bear with me!
a) I spent last weekend flexing my Google-Fu and having a look at the consultancy market, and came to the conclusion that I couldn't write a quote for the figures these guys are charging with a straight face. On top of that, I'm questioning whether I can compete in the market in terms of the age, experience and gravitas that the age and time served brings.
b) I then spoke to a good friend who has experience of working with consultants and he got me really fired up to do it, pointing out that my track record is compelling and running me through a basic business concept - I offer companies a free consultation, where I take a look at the books and give them a proposal - how much I can save them, how long I think the consultancy will take and what it will cost them, keeping the estimates nice and conservative. I then tell them that if I don't make recommendations that will measureably provide them with that amount of cost savings, then they owe me nothing. If they want to go ahead, I deliver the recommendations in a report, and invoice them. They can then take the report and implement the action plan within it themselves, or sign the contract at the back of the report, giving me authorisation to project manage the recommended actions, at a lower daily rate than the consultancy. We came up with the idea of me offering a couple of 'dummy runs' for free to charities I'm involved with and companies that friends of mine own. They would then provide testamonials to show that what I'm offering works.
c) The next day, I took the idea to my boss for a bit of friendly careers advice. He spent the next half-hour trying to talk me out of it, saying that the market was hideously competitive and that it would be a real up-hiller. Then, at the end, he offered to propose me to the Institute of Directors (you need a sponsor to get a membership), and pay my first years' fees to help me network, introduce me to all the directors in his address book that I don't already know, and offered me a contract - project managing for him 1 day a week for 6 months, at over 40% more than my current daily rate. Way to confuse me even more!
I don't know what to do. At the moment, I'm working on all the ideas, and I'm leaning towards options 3 and 4, with a possible couple of sidelines into trying to sell some freelance articles into some magazines, and maybe even working on the invention I've had playing around in the back of my mind for a year or so - applying for an R&D grant or trying to sell it to a relevant company and then working with them on it. I can think of a few that might want it and might be happy to sign a non-disclosure agreement to facilitate some talking.
At the end of the day, I have no idea. I feel like Lucy, going through the wardrobe, and finding this whole other space with a wonderful sense of expectation, but lots of strange paths, the direction of each being an unknown quantity.
Well, that's life this week on planet Downey. Anyone got any sage advice, by any chance?
I'm going to cut-tag what could be a long and complex post, but if you have 10 minutes, I would appreciate your input.
It all started when the MD and I had a meeting about a week and a half ago. I haven't posted before now, as I wanted to make sure the stakeholders in this (my staff, family, key clients etc) were told properly and had the chance to let it sink in and give me chance to cover the awkward questions, like other peoples' job security and the direction of the company, before making it public.
The plan is to restructure the business, getting rid of all the stuff we do that isn't profitable, and refocussing on the key areas.
Unfortunately, this means that, by making this decision, we've effectively made me redundant, as without all these random odds and ends, there's not an awful lot to manage that isn't already covered by the team leaders. I've put procedures and plans in place that take the real creative thinking and strategic elements out of my job description - as it's all done.
I know that this state of affairs would cause a fair few people some problems, but I seem to be in the midst of an over-abundance of options.
Firstly, I have 3-4 months before I actually need to leave, although we've negotiated a deal whereby if I get a an offer I want to take, we'll both be flexible on how I go about taking it, so I'm not going to be on the dole next week.
My choices, as I see them, are as follows:
1) I get another job. Much as the world's going crazy about the increasing unemployment lines, in my sector and skill-area, I've found over 100 jobs in the last 2 days available in the local area alone. In that regard, there is a sliding scale of remuneration and how much of my soul and family life I'm prepared to compromise. At one end of the scale, there's the spiritually rewarding little projects that will earn around £25k a year with lots of free time, and at the other end, there's busting my arse 60 hours a week and living in airport lounges, but pulling £60k a year. Somewhere in the middle of these extremes, there's a fair few reasonable options.
2) Andy's told the boss of his intention not to renew his contract when it comes up at the end of December. He's going to be running his own electrical testing business, doing what he's trained to do in the last couple of years. He's already got a couple of customers lined up, so that will cover some of the living expenses.
3) The boss has offered us both part of the business that he would otherwise be closing. I've done the maths, and it would be worth accepting conceptually, although it won't pay the bills on it's own. It will involve a few hours per week, and will bring in a reasonable amount of part-time income. There's no outlay, as he'd be giving it to us gratis in exchange for servicing existing customers' tech support (mainly by email) and warranty issues. It isn't going to make us rich, but it is a gift horse, and it's a good deal. It'll solve a problem for him, and provide us with a little background security.
4) I considered interim management or more specifically, business consultancy. I've a CV with a strong track record of making companies money, and saving companies money, all with an ethical standpoint. Hell, I got so into it, I wrote a book on it! Here's where it gets complicated, but bear with me!
a) I spent last weekend flexing my Google-Fu and having a look at the consultancy market, and came to the conclusion that I couldn't write a quote for the figures these guys are charging with a straight face. On top of that, I'm questioning whether I can compete in the market in terms of the age, experience and gravitas that the age and time served brings.
b) I then spoke to a good friend who has experience of working with consultants and he got me really fired up to do it, pointing out that my track record is compelling and running me through a basic business concept - I offer companies a free consultation, where I take a look at the books and give them a proposal - how much I can save them, how long I think the consultancy will take and what it will cost them, keeping the estimates nice and conservative. I then tell them that if I don't make recommendations that will measureably provide them with that amount of cost savings, then they owe me nothing. If they want to go ahead, I deliver the recommendations in a report, and invoice them. They can then take the report and implement the action plan within it themselves, or sign the contract at the back of the report, giving me authorisation to project manage the recommended actions, at a lower daily rate than the consultancy. We came up with the idea of me offering a couple of 'dummy runs' for free to charities I'm involved with and companies that friends of mine own. They would then provide testamonials to show that what I'm offering works.
c) The next day, I took the idea to my boss for a bit of friendly careers advice. He spent the next half-hour trying to talk me out of it, saying that the market was hideously competitive and that it would be a real up-hiller. Then, at the end, he offered to propose me to the Institute of Directors (you need a sponsor to get a membership), and pay my first years' fees to help me network, introduce me to all the directors in his address book that I don't already know, and offered me a contract - project managing for him 1 day a week for 6 months, at over 40% more than my current daily rate. Way to confuse me even more!
I don't know what to do. At the moment, I'm working on all the ideas, and I'm leaning towards options 3 and 4, with a possible couple of sidelines into trying to sell some freelance articles into some magazines, and maybe even working on the invention I've had playing around in the back of my mind for a year or so - applying for an R&D grant or trying to sell it to a relevant company and then working with them on it. I can think of a few that might want it and might be happy to sign a non-disclosure agreement to facilitate some talking.
At the end of the day, I have no idea. I feel like Lucy, going through the wardrobe, and finding this whole other space with a wonderful sense of expectation, but lots of strange paths, the direction of each being an unknown quantity.
Well, that's life this week on planet Downey. Anyone got any sage advice, by any chance?