Why I Left My 6-Figure Private Equity Job... It's Not What You Think.

How could I? After all, it was such a rewarding experience managing so many aspects of a private equity shop. I made valuable connections, gained in-depth knowledge on numerous business areas, and made more money than most people ever do. It was an amazing company to work for, and the team is talented and beautiful, inside and out.

Not to mention I handled marketing, databases, modeling, origination, underwriting, presentations, portfolio management, and much more.

But some people have an entrepreneurial fire that burns progressively higher, until it starts to scorch at your insides, overriding your every thought. The question lingers stubbornly: What if? And then it metamorphoses impatiently to: Why not me?

If you find yourself asking this question, it’s time to move. People are never ready for their next step. Rather, moving to the next step forces you to adapt and grow as an individual. It's almost a Catch 22.

Eventually, a new question emerges...

After everything I had mastered, couldn’t I do this myself? Couldn’t I revolutionize the way people borrowed money for their real estate projects? I would be in control of my fate, and most meaningfully, that of those around me. Wouldn’t this obligation be so much more fulfilling? Studies have shown that people on their deathbeds regret what they didn’t do more than what they actually did. And that’s scary. Doesn't this scare you?

There are moments in this world when you know you’ve crossed a trying bridge. You tell yourself it was a rewarding path to take. And it was. You look back, but there’s no going back. Your old life is over.

People trade certainty—a steady paycheck—for sure mediocrity as it relates to financial gain. And mediocrity is certain failure for people with my personality. Starting a business has uncapped potential, albeit more risk. But this risk is overblown, in my opinion, and meant to deter competition. Wouldn’t you rather work for yourself 24/7 than to slave away for someone else for 40+ hours a week?

I’ve had a cornucopia of people tell me I should have started ICG10 on the side, let it take off, and then quit my private equity job. This way, you minimize your risk, so the logic goes. They are dead wrong, and don't let anybody tell you how to do things.

Starting a company doesn’t take 20 hours a week. Not even 40 hours. It is a full-time endeavor, and anything less is definite failure. I know, because I’ve done both and failed miserably. You need to breathe and live your business to become successful. And what better way to catalyze this than through time pressure? After all, you can’t live on your savings forever, so you better get the business up and running, fast. If not, that’s your next meal. Scared? People are rewarded for this risk much like equity positions outperform in the long-run.

It turned out ICG10 became a success. I’ve successfully provided superior financing to borrowers for fix-and-flip, bridge, rental, and real estate construction strategies. We did a deal yesterday that was $1.1MM, no sweat. I provide borrowers the best terms (interest rate, loan-to-value, etc.) for their business-purpose loans. Talk about a value-add, and all of this because I left my 6-figure job.

There are 6 basic human needs to fulfill. The first 4 are certainty, variety, love/connection, and significance. And while starting a business has perks in most of these needs, that is not where it exceeds expectations. Once those 4 needs are met, so it goes, you can go onto higher, more fulfilling needs: contribution to others and personal growth.

Some of you are thinking, "Oh, here we go again with one of those entrepreneurs that says to give back Tony Robbins style." Forget this need for a second, even though it is highly fulfilling but the subject of another future post.

Nothing will make you grow more than starting your own business. And don't you love to grow?

I'm self-taught at guitar, VBA, HTML, violin, Wordpress, and much more. Did I learn guitar because I was going to be the next Eric Clapton? The answer is a resounding no. But humans find it particularly fulfilling to get better at something. Oftentimes more fulfilling than making money.

So I must ask you: Are you the commander of your ship? Are you perpetually getting better? Do you feel fulfilled? If not, you know what to do.

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To learn more about ICG10, or to submit a deal for consideration, contact [email protected], or call 954.798.0726.

Programs:

• Fix-And-Flip (Bridge)
• 30-Year Rental Loans
• New Construction

And More!

Read our latest book on Amazon, The No-Nonsense Guide To Real Estate. Also available as an e-book here.