People often come to Florida looking to retire or start a new career. Among those individuals who relocate to Tampa are retirees who had successful careers in the north and want to enter the Tampa job market. It’s natural to expect to land a C-level position similar to the one you left. Unfortunately, unlike other major markets, there are not a lot of large companies in the Tampa market. While ours is a vibrant market, it is largely compromised of family owned middle- market businesses.
Failing to find a C-level position comparable to the one left behind, many turn to the next logical step: finding a senior role in a medium-sized private business. There are two drawbacks to this plan. First, it requires networking, which can cost a lot in terms of time. Second, many private businesses already have a succession plan in place, and that succession plan usually involves a family member.
Stop Spinning in Circles
Because of the dynamics of our market, many relocating executives struggle to see an opportunity in the Tampa job market, but there is an alternative. Instead of spinning in circles going after the same scant C-level positions everyone else is vying for, you would be better off applying the practices and procedures from your years of experience and buy your own business.
Think back to all of those times you wished you were fully in control of your company so you could make the improvements you knew were needed. There’s no reason why you can’t take your experience and your skills to make money for yourself rather than someone else. You were previously part of a successful team and in many cases created the success; this time get paid for your contributions.
Related topic: Financing A Business Purchase Without An SBA Loan
Financing a Business Acquisition
Buying your own business is often considered an enterprise better suited to millennials. However, the reality is that as a relocating executive, you bring a lot to the table. Now you don’t have to worry about sacrificing family time since your children are grown and on their own. You are skilled in your field and have years, if not decades, of experience recognizing trends and business cycles. Having come from a C-level position, management experience and leadership ability are two other invaluable traits you bring to the table when buying a business.
What You Bring to the Table
If you have the interest to own a business after years of working for others, don’t be discouraged by the thought of financing a business acquisition. Buying a business doesn’t have to be a gamble. With the help of the financial experts at Links Financial, you can turn your venture into a well-thought-out, sound business decision. Links Financial can assist you with financing a business acquisition, minimizing the risks associated with purchasing a business and structuring a financial arrangement that benefits you. We’ll help you put your experience and knowledge to work on your behalf and help you attain the satisfaction that comes with being your own boss.
