Here are seven trade-offs for leaving a high-paying corporate job to start your own business:

First, it is important to understand that everyone is unique and has their own gifts, talents, and challenges. This is not intended to sway or sell you in any direction. I am sharing my experience, specifically graduating from college, climbing the corporate ladder, and leaving a high-paying corporate job to launch my own business.

Trade-off 1: Control

Substitute the word control with responsibility. As a business owner, you are responsible for all aspects of your business, from operations and finances to marketing and customer service. This can be overwhelming! Unlike in a corporate job, where you may have a team or department to handle specific tasks, as a business owner, you must wear multiple hats and make decisions that can impact the success or failure of your business. Starting your own business gives you control, but you only realize what support is once you get outside your support system.

A company rollout will need someone's approval which is great if you like to collaborate. To some, the checks and balances are miserable. How can you do your best if your hands are tied? I get that. However, when you're running your own business, if you get an idea, who do you have around you to check your blind spots? I don't care if I try something and fail; I can live with that. What I care about is trying something that accidentally violates rules, which opens me up to legal trouble.

Trade-off 2: Legal Risks

Disclaimer: This is not legal advice. I am not a lawyer. The viewer should not rely on the following information as legal advice because that can only be given by a lawyer or some other professional who is licensed to practice in your state.

See what I mean! When I launched my business, there were these legal platforms that I could use, and they were pretty inexpensive. However, I felt better about finding a lawyer I could talk to and trust.

As a corporate employee, I thought that starting my own thing was just risking financial setbacks if I failed. I didn't understand how many things could happen which could lead to financial ruin! Lawsuits can arise from various sources, such as customers, employees, or partners, which can be costly and damage your business's reputation. I hired my lawyer and even read one of his books on small business law. Reading that book almost made me quit because all the things that can go wrong even if you are a good person with good intentions and do your best to mitigate risks.

As a corporate employee, the legal stuff was never a worry because they paid for their lawyers, I received compliance training, and I advocated for following company policies and procedures.

As a business owner, If I have a question, I get to call my lawyer, who charges $400 an hour.


Trade-off 3: Risk of Failure

Starting a business always comes with the risk of failure, regardless of how well you plan and execute your strategy. There is no guarantee that your business will succeed, and failure can result in financial loss, damage to your reputation, and the emotional toll of seeing your dreams and hard work not come to fruition. But that is the trade-off of leaving your corporate job. Failure for me was never trying.

Ask for advice from people you love and trust and know that there will be responses that don't align with your dreams. By reaching out to family, I learned that my late uncle, who was very successful, had a saying, "Life is full of risks and rewards. How do you know the rewards if you never take the risks?" - Mark Kirby

I've been very aware of life's fragility from a young age. There are no guarantees that I will live a long life, but I imagined myself being old, looking back and knowing that if I never tried, I would always regret it or wonder what if. The trade-off now is getting that old, and wondering what if I never left my corporate job. I'm OK with that because I'm proud of what I've done since then. I've learned so much and gained new skills I might never have if I had stayed.

I look back at the first decade of my career with fond memories. Even though I eventually ended up leaving, I look back and feel lucky to have had an opportunity to learn, grow, and make money without much risk.

Trade-off 4: Collaboration

As a corporate employee, some people in your company have different expertise than you. Since you are all on the same team, you can lean on those people when needed. That's one thing I loved about my previous job. I loved that the business development team would ask me about sales metrics so they could get a better understanding before going into a proposal for a new business. I loved being able to ask different departments questions so that I could fine-tune my classes and help with the alignment of the company.

When I started my own business and had questions, I was thankful for the network I've built through the years. I've been able to lean on several people when I've had questions. However, when I'm unsure of something and need to find the answer myself, it's like, OK, are you willing to put in the time to learn all this stuff so that you can know enough to be dangerous? If not, I have to rely on third-party experts who charge money. One problem with that is there are a lot of people offering services and many people providing services that probably shouldn't.

As a business owner, you may need to hire third-party services such as marketing agencies, accountants, and lawyers to help you run your business. However, hiring the wrong service provider can have negative consequences, such as wasted time, money, and effort. Additionally, a third-party provider providing subpar services can negatively impact your business's reputation.

Don't get me wrong, there are people in every company who think they have all the correct answers, but they do not. 

Trade-off 5: Lack of Structure

When starting your business, you may have to create your organizational structure, including roles and responsibilities for yourself and any employees you hire. A lack of structure can lead to confusion, duplication of effort, and inefficiencies in your operations.

If you are a person who is more of a visionary than an integrator, you might need help here, but there is also a lot of growth opportunity. You will have to develop your abilities to execute your ideas. You may not enjoy your company's policies or procedures; no company is perfect.

You only realize how much you appreciate the structure, even imperfect structure, once you start your own business and you have none.

Trade-off 6: Work-Life Balance

This is a topic that brings a lot of opinions. For me, perspective is key.
Starting your business requires significant time and effort, especially in the early stages. This period feels just like it did when I first started my career.

I was poor, hungry, and desperate when I started my sales career. I had to sacrifice a lot of time and skip a lot of fun trips or parties because I wanted to grow. It helped that I had a schedule that was not optional. It helped that I needed the approval to take time off. Those micromanagers forced me to excel so I could shut them up!

As an owner of your business, you have to decide your schedule. You have to determine how late you're going to work. You choose your days off and have to plan your days, weeks, and months. You might shake the micro-manager in your corporate life, but you must develop a good relationship with the miniature micro-manager who lives in your head. Fortunately, this micro manager constantly reminds you of your goals when you decided to risk everything.

Trade-off 7: Perspective of Income

One thing I gained since leaving my corporate job was a perspective on income and value.

I'm going to use my corporate job as an example. I had a salary, benefits, 21 to 26 paid days off, paternity leave, volunteer days, a yearly bonus potential, quarterly awards with a financial bonus, and yearly awards with a company trip. I had 401K match, annual merit raises, and opportunities for promotions with raises.

I look back and realize, "Hey. That was a pretty good deal." A lot of math went into my decision to leave all that, but there is one question I would go back in time and whisper in my ear.

How much revenue does your business need to generate for you to NET everything you NET today as a corporate employee?

If you cannot answer that and are considering launching your own business, I encourage you to do the math independently.

There are so many variables and overhead will look different for everyone. Some examples include but are not limited to taxes, benefits, costs to recruit onboard, training, and other perks to the job. I didn't consider everything that went into my pay.

Leaving a high-paying corporate job means giving up regular paychecks and some financial stability. Starting a business requires significant upfront investment and may take months or even years to become profitable. As a business owner, your income may be uncertain and fluctuates depending on your business's success. Initially, your business may generate little revenue, and you may need to reinvest most of your profits back into the business. It can take time for your business to generate steady and substantial earnings, which can be challenging and stressful for many business owners.

Finally, the work falls on you if you can't afford to hire someone, leading us back to control. How much control and responsibility do you want?


My name is Joe Kirby, Owner of Revhawk Collaborative Services LLC
I specialize in Multifamily Property Management but will be sharing updates for people who are in the pattern of dreaming but settling.