5 Reasons Why I Quit My Own Business to Work for Someone Else

Another interesting story about running your own business vs being employed. I haven't written this article I just came across it and found it interesting enough to share it in our community.

I was 26 years old when I “retired” from a terrible desk job at a  local bank and set out to become self-employed. As with most modern  entrepreneurs, I had read The 4-Hour Workweek and was convinced I could create a lifestyle business on my own that could pay my bills while I enjoyed a life of freedom.Between  my rental properties and my growing real estate investing blog, I had  built up enough semi-passive cash flow to pay the bills. I was  financially free.Only … it wasn’t free.Within a year I quit the real estate investing blog and jumped back into a day job as vice president of growth at Biggerpockets and although it was agonizing to make, it was perhaps the best decision I’ve ever made.Here’s why.

1. Paid education

When I look back at the year I spent trying to build my own online business, I laugh.I had no idea what I was doing. Sure, I got the basics: start a blog, build an email list, monetize that list. But I knew nothing.When  I joined BiggerPockets.com, a niche-dominating startup in the real  estate education space, my knowledge on growing a company grew at an  astonishing rate. In fact, to this day I probably spend 50 percent of my  time just learning and testing new ideas, and I get paid for every  minute of it.Yes, I could have figured this stuff out on my own,  but it would have been a much slower process, and I would have paid  dearly to learn it. I would have had to focus on trying to do 50  different tasks at once rather than learning the things that are going  to benefit me the most.I don’t have to deal with bookkeeping. I  don’t have to deal with hiring and firing. I just to focus on growth,  both personal and business.

2. Accountability

While working under a boss, I am held accountable for making progress.I  am paid to drive the company forward (and incentivized well for doing  so), and as such, I am not tempted to simply relax and “take the day  off” as I did during my self-employment time. Instead, I am able to  produce incredible results.People often ask me how BiggerPockets  is able to accomplish so much with so few people in the company (I was  the very first employee, and we are now up to around 10).The answer is simple: accountability.Sure,  we all hate having a boss. But having a leader consistently drive you  to be the best you can be is not a liability -- it’s an incredible  asset.

3. Play a bigger game

Deciding to take a job again  was one of the most difficult decisions of my life. The internal  argument that finally won me over, however, was this: I could play a  much bigger game.When I was growing my own business, I could work  for days to create some incredible new lead magnet to attract more  subscribers, but in the end, the results were hard to see. After all, if  I’m converting 10 percent of my readers into email subscribers and I'm  able to move that needle to a 15 percent  conversion rate, it’s not all  that impressive to the bottom line when I have only a few hundred unique  visitors.However, by jumping on board a larger company, I'm able  to leverage myself into a much larger sandbox and have a lot more fun  with the results. A conversion increase of a few percentage points could  result in thousands of dollars (or hundreds of thousands) in new  revenue. The results of a split test could be seen in days rather than  weeks. Writing a blog post can help tens of thousands of people, rather than just a few.To emphasize this point, in the past year I’ve published a book, spoken at Google, maintained one of the most popular business podcasts on iTunes, and am having serious conversations about creating a television show about my life.I simply couldn’t play that game on my own -- at least not this quickly.Related: Before You Quit Your Job, Do These 10 Things

4. Meaningful relationships

Let’s be honest: being self employed can be lonely at the start.Working  in my pajamas at the kitchen table seems like the ideal life for those  stuck in a cubicle, but it’s not the answer I was seeking.By  working with a company, I am able to build meaningful relationships that  help both personally and professionally. I am able to learn from an  incredible serial entrepreneur (my boss, Joshua Dorkin) who bootstrapped  a real estate forum into a 250,000-member niche social network. I am  able to brainstorm new ideas with my coworkers for hours and work  together to achieve something great. I am able to sit down with major  influencers in the business world as equals, not as a super fan.The relationships I’m building today will extend much farther than just my current job.They’ll positively impact my life forever.

5. More disposable income

Finally, it would be a lie not to mention one of the greatest reasons for having this job: stable income.But not in the way you might think.Buying  stuff is nice, but at the end of the day, it doesn’t get you any closer  to financial freedom. Wealth is built over time collecting assets such  as real estate, stocks or businesses.By working a day job, I am  able to substantially increase the amount of income, but at the same  time keep my expenses constant at “pre-job” levels.Translation: I have a lot more disposable income.While  most of the world would simply buy a larger house, a nicer car and  better wardrobe, I’ve been sinking this cash into several other more  productive avenues, including more real estate investments, paying off  debt and going on some relaxing vacations.Simply put: I’m leveraging this job to create even greater wealth in my future.

Conclusion

I’m a lifelong entrepreneur, and that will never change.However,  just because I’m an entrepreneur, it doesn’t mean the highest and best  use of my time right now is building my own business.During this  period of my life I am gaining an incredible volume of knowledge from  incredibly intelligent people. I’m moving the needle forward in a  business that’s helping millions of people. I’m increasing my net worth  and designing a lifestyle that allows for both work and play.And I’m having a blast while doing it.