Owners looking to slow down: would you take on a partner to run the business side?
I grew up with a tradie dad. He was a builder, so I know the early starts, the long days, and how much the paperwork drags on after them.
Then I went a different way. I spent over a decade at a big tech company. Towards the end I felt unfulfilled, so I left to start my own business building AI automations for all sorts of businesses, trades included. I'm very good at building software and automations with AI. But it's a crowded market, and I'm considering a bigger shift: getting into a trade business.
The obvious route is getting qualified. My problem is time. I've got a Sydney mortgage and big financial commitments, so I can't spend years on apprentice wages.
So here's the idea. I partner with an owner who's been on the tools for decades and is starting to think about slowing down. They keep doing the work they want to do. I take over everything else: quoting, invoicing, scheduling, chasing payments, compliance, marketing, and the tech to run it all.
As they step back, I'd build up my share and take on more of the running of the business. They get to ease out on their own terms instead of selling to a stranger or shutting the doors. I get into a trade business without spending years getting qualified.
To be upfront, I'm not putting cash in. I'm bringing my time and skills.
My questions for owners:
Would you give equity for that, or would you rather just pay someone?
If you're thinking about slowing down, would this appeal more than selling or winding down?
What would you need to see before saying yes?
Am I kidding myself?