So I'm 28 with my first kid due this week. I dont have a college degree but have been managing for an oilfield company for 7 years. I'm talking 60 hour weeks and 35-50 employees throughout that time. I know I want to be in northeast Texas and already bought a house and commercial building there. I've about hit my boiling point with the stress and demand of this job and wanting to leave Feb-April next year.

The town I'll be moving to is about 17,000 people and I can't for the life of me figure out what I want to do or business I want to start. 401k is set and I'll have around 150k saved when we leave.

I'm just looking for advice for people who may have gone through quitting a career to start something on your own... TIA

Off the top of my head:

How long can you go before you make a profit? Generate positive cash flow?
What do you want to do?
What are you good at?
Who is going to do the selling?
What are you going to do if it doesn't work out? i.e. What's Plan B?

My father was in construction and made a pile of cash working in Saudi Arabia. My 10th Grade Year we moved to my dad's hometown and he had some ideas about what he wanted to do but he really wound up doing essentially nothing for 3 years. Then, after trying several ideas, he went back to construction where he worked until retirement.

Personally, I'm about 2-3 years away from moving to a rural property, 30 minutes away from a small airport that would allow me to have an easier pace of life and travel for work as necessary.

But, I'm 20 years older than you and I'm less than two years from having the youngest out of College.

HollywoodBQ said:

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Off the top of my head:

How long can you go before you make a profit? Generate positive cash flow?
What do you want to do?
What are you good at?
Who is going to do the selling?
What are you going to do if it doesn't work out? i.e. What's Plan B?

My father was in construction and made a pile of cash working in Saudi Arabia. My 10th Grade Year we moved to my dad's hometown and he had some ideas about what he wanted to do but he really wound up doing essentially nothing for 3 years. Then, after trying several ideas, he went back to construction where he worked until retirement.

Personally, I'm about 2-3 years away from moving to a rural property, 30 minutes away from a small airport that would allow me to have an easier pace of life and travel for work as necessary.

But, I'm 20 years older than you and I'm less than two years from having the youngest out of College.

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I can go a while without making a profit and work ethic isn't an issue at all. I'm really good with and managing people. I'm driven and motivated but bogged down in this job and can't ever get away from it enough to figure out what I want to do (if that makes sense). I don't come from any money or entrepreneurial parents nor does my wife so asking for advice from parents isn't much of an option.

I've thought about real estate or some sort of production based business but can't put my finger on what. The thing is I've done this job since 21 so I don't have much experience in anything else. I'm really good at what I do but the stress of it and lack of corporate support has just pushed it to the point of no return. I don't have to get rich. Really just want a good honest living for my family and something I can be proud of starting on my own. I would even be willing to work for another company in that area for a few years but those jobs are few and far between in rural northeast Texas.

Thanks for your story and advice.

You've done very well so far. Consider the possibility that your inability to detach from the stress is more about you than the job. Do you have a leadership structure in place that allows you to delegate? Are you willing to delegate and release some control? Based on your summary, your ownership would likely compromise to help manage the stress and keep you onboard. Why start from scratch unless there is a clear opportunity to add breadth to your career?

RAB87 said:

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You've done very well so far. Consider the possibility that your inability to detach from the stress is more about you than the job. Do you have a leadership structure in place that allows you to delegate? Are you willing to delegate and release some control? Based on your summary, your ownership would likely compromise to help manage the stress and keep you onboard. Why start from scratch unless there is a clear opportunity to add breadth to your career?

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One of the corporate issues I have is exactly that. I'm actually limited on what I can delegate and control. For instance, I'm 100% on call and not allowed to pass that off to foreman (even if I'm on vacation). My foreman himself was picked for me by corporate with my input not taken into consideration at all. My job title states 55 hour work week in office minimum. Basically they make it as difficult as possible and say "that's why we pay you so much". There's several other things similar to this that I won't get into but normal businesses with 50 employees have multiple levels and duties to help with delegation. I'm not allowed to do that at all. I'm the H/R manager, customer relations, employee relations, operations, safety, quality and production manager all at the same time.

Pest control

HVAC repair

Commercial cleaning

Liquor store

Hardware store

Sporting goods

Taxidermy

Home building

Can you start the type of business you currently run on your own? Service East Texas, stay much smaller and more manageable so you only take the jobs you want and not HAVE to take jobs you don't? Eventually find a number 2 so they can split the call with you. That's what I would consider. You sound like you are good at what you do. More likely then not, you will probably gravitate back towards it anyway.

BO297 said:

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Can you start the type of business you currently run on your own? Service East Texas, stay much smaller and more manageable so you only take the jobs you want and not HAVE to take jobs you don't? Eventually find a number 2 so they can split the call with you. That's what I would consider. You sound like you are good at what you do. More likely then not, you will probably gravitate back towards it anyway.

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Yea this is something I considered. It's an expensive business to start but I already have a building.

Everyone always needs a plumber and HVaC in Texas

And congrats on the baby!

Crude hauling?

Ogre09 said:

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Pest control

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Funny you should mention that. Last year (May 2017), my wife and I drove from LA to B/CS and we spent the night in Tucson, AZ. I just booked like whatever the Marriott brand hotel was that had a cheap rate.

The next morning, we go down for breakfast and it's nothing but USAF and Pest Control franchisees. Turns out our hotel was close to Davis-Monthan AFB and in the same parking lot as Truly-Nolen Pest Control. The Pest Control folks were there for some kind of required franchisee training courses.

I don't know if you'd be able to support a franchise in your desired part of Texas but, it did seem like a legitimate business that didn't appear to have too many barriers to entry and would have a steady stream of repeat customers.

I hadn't put much thought or considered this but it does seem like a good idea. I actually hired the only pest service in town to spray our house up there. It's supposed to be in a quarterly bases and I literally have to call each quarter to remind them.

pest control and pair it with a lawn spray service (similar to a TruGreen). Use your building as an office, warehouse, and place to park a company truck or two.