Interesting Opportunity
I am an unlicensed electrical engineer currently working at a small EE firm. I have around three years of experience and plan to get my PE once I am eligible. Overall, I like the flexibility of working at a smaller firm, and based on conversations with the owner, there is a path toward partial ownership in the not-too-distant future once I get my PE.
Here is the dilemma I’m in: I recently received a call from an older engineer who I have some connections to and who owns a small EE firm in the defense industry. In that industry, he has typically been contracted by larger companies as a consultant. Business has been slow recently, as many of the larger players have been keeping more work in-house. As a result, he is looking for ways to diversify his business and wants to get into the MEP industry.
He reached out to me because he wants me to help him start an MEP-focused EE firm. He has some experience in the industry from decades ago and would get caught back up on current codes and practices. He believes that my experience with project management and design could help get the business off the ground, and the idea is that we would operate the firm together. We haven’t worked out all of the specifics yet, but it sounds like the company could eventually become 100% mine.
I’m honestly not really sure where I stand on this at the moment. On one hand, I’m very aware of how difficult it can be to get a small firm off the ground, especially at my age and with my level of experience. I feel pretty confident in my design skills and have good business acumen, but I also know there is still plenty for me to learn. I’m also pretty happy where I’m at currently. I get to work on some very cool projects and work under a principal who I believe is extremely knowledgeable. That’s not to say my current situation is perfect, but overall, it’s a pretty good situation.
On the other hand, this is a pretty unique opportunity. The idea of essentially running the day-to-day operations and building something from the ground up is very appealing. I just wonder if, years from now, I would look back and wish I had taken the opportunity if I passed on it now.
One last thing: I am currently under a non-compete agreement that could make this complicated if I decided to pursue the opportunity.
I’m certainly not asking anyone to make the decision for me, but I’d really appreciate hearing other people’s opinions and experiences.