I’m not your personal advisor. I’m just another entrepreneur making an observation. If your company was built on sand, don’t expect it to survive a sandstorm. When things start to crumble, it will already be too late to protect yourself. Some better-prepared employees may fare better than others but collectively when the ship starts to sink, everyone runs for the lifeboats.
Take Immediate Action
You may not get the answers you hoped for but it doesn’t hurt to ask. First, make an honest assessment of your company’s chances to survive and thrive if it experiences a serious problem or setback… in a weak economy. Second, make an evaluation of your market and competitive environment. Is your market growing or contracting? Is there a potential for disruption? Are your competitors stronger or weaker than you are? And, do you possess the skills, experience, track record and personality to make you an attractive candidate to another company?
Take Time for the Tough Questions
If the worst does happen, will you be among the first group of people to be let go? Do you know the terms your management made in successive funding rounds since you were hired and how those terms may affect you? If they do, are you valuable enough to your company to renegotiate your employment agreement? BTW, do you even know what’s in that agreement? Have you shown it to an attorney? Maybe now’s the time to do so because if you procrastinate, the time and money you didn’t spend then or now will definitely come back to haunt you in the future.
The Smartest Moves are Sometimes the Hardest Moves
After you make a dispassionate assessment of your situation you may realize both your company and your job are at risk and the risk is substantial. You are now faced with an unenviable decision, whether to stay and roll the dice or leave and head into another situation that may be better but could also be worse.
Your answer will be based on your tolerance for risk, the marketplace in general, the new position you are applying for and a wide variety of outside factors, many of which you will have little or no control over, such as the ability to sell your home and be able to buy another one of equal or higher value; leaving the friends you’ve made; disrupting your family (particularly your children); going through the hassle of finding a new doctor, dentist, mechanic, making new friends, finding an acceptable school and dealing with a new set of neighbors, etc.
It won’t be an easy decision and it may also turn out to be a bad decision but life doesn’t come with a guarantee so one way or the other, eventually you’ll have to make a choice and the best time to make that choice is before all your options disappear. All I can do is point out some of the obstacles and wish you the best of luck in navigating the potholes on your road to success.