Ask HN: I don't want to be a founder anymore
11–20 of 527 posts
Re: Ask HN: I don't want to be a founder anymore
#12For 1 week, write down everything that you do for your company, and then group the like tasks in order to figure out how many/what type of person(people) to hire/train. Start looking for that person, while writing down everything that you do the 2nd week. Rinse and repeat as you go through the month/quarter, and you should develop a better idea of what it will take to replace you.
The LOI writers know that you are doing the job of multiple people, and that you are indispensable, and that's why they want to require you to stay. Make yourself replaceable, and then there would be no need for you to stay. Work from a beach if you want, but take action now to permanently lessen your stress.
Feel free to reach out if you want to talk (or just vent) privately. You can find me through info in my HN profile.
Re: Ask HN: I don't want to be a founder anymore
#13First of all it sounds a lot to me like you are suffering from burnout. You need to see someone about this (not necessarily a health professional, perhaps a mentor or confidant, someone accessible, whose opinions you respect)
You have come a long way and achieved something that is not trivial. You are entitled to cash out. I am however wary of the terms you hint at. I would NEVER do a deal where a significant portion of my compensation is dependent on future income from the business I am selling. NEVER. Once the acquirer takes over, decisions are out of your hands and it is his/her prerogative to grow the business or run it down. Why should you tie yourself to such an uncertain future ? My reading of your situation is that you should try to get a deal where you stay on only long enough to transfer your knowledge to your replacement. 1 year is sufficient for that; 4 years essentially makes you a bonded servant. Have you retained the services of a professional to help with the acquisition? If 'No', do so asap.
I mention these points because although your intention is not to stir up a debate about terms of purchase, I think they stand out as potentially significant stressors.
Every field looks green when you are in burn-out-land but resist the temptation to think that dish-washing, bar tending or whatever menial task you presently romanticize, represents a step up from your present condition. I agree with @bsvalley. His answer is on point.
I would talk to the missus. That's what she's there for - moral support; but its difficult to give support to a person who hasn't asked for it.
Finally. I will say congratulations! You are on the last lap of a very difficult race. Not many people get to this point. Don't falter here. The reward for all your effort and sacrifice will be financial freedom, time for leisure and a sense of accomplishment - and maybe opportunity (on much better terms) to become a bartender after all :)
Re: Ask HN: I don't want to be a founder anymore
#14There is a huge misunderstanding from people in tech regarding blue collar jobs. You guys are way too naive about what it entails to work at a grocery store or on a construction site. I've done it a few times during summer while studying CS to pay for my bills. They do shifts from 4am-12pm, or 12pm-8pm, or even night shift... They treat you like a bad kid, you get humiliated 24h/7 by who ever is higher in the "hierar…
Re: Ask HN: I don't want to be a founder anymore
#15You're right: 1 person can't replace you. Can 3? Can 5? You must reorganize, if merely to save your sanity. Hire 1 person and start training them, then hire the next. For 1 week, write down everything that you do for your company, and then group the like tasks in order to figure out how many/what type of person(people) to hire/train. Start looking for that person, while writing down everything that you do the 2nd wee…
Re: Ask HN: I don't want to be a founder anymore
#16Re: Ask HN: I don't want to be a founder anymore
#17There is a huge misunderstanding from people in tech regarding blue collar jobs. You guys are way too naive about what it entails to work at a grocery store or on a construction site. I've done it a few times during summer while studying CS to pay for my bills. They do shifts from 4am-12pm, or 12pm-8pm, or even night shift... They treat you like a bad kid, you get humiliated 24h/7 by who ever is higher in the "hierar…
That is not unheard of even in programming gigs. I've seen it around me, coming from bad management. I've been exposed to it but I've been good enough (at least compared my workplace) and managed gathering enough respect from both my coworkers and my superiors that I've been shielded from it. But it happens, they feel you're new, they feel they have an ounce of authority above you and they go crazy with every mistake(and mistakes happen).
Re: Ask HN: I don't want to be a founder anymore
#18May be a stupid question but: can you suck it up until the acquisition goes through, take the money, leave, and try bagging stuff at a grocery store for a few months? Does the acquisition involves you signing a contract and being forced to stick around for a few years?
> Does the acquisition involves you signing a contract and being forced to stick around for a few years? Yes they range from 3 to 5 years, with much of the compensation coming from future earnings.
Seems to me that if you want to cut the earnout to 1 year in exchange for a smaller total package, that should be something they would entertain.
Another option is to forget the acquisitions for the moment and bring in someone else to run the business, technical enough that they can pick up the details quickly. Bring them in as a co-founder; offer them maybe 20% of the company (with 4-year vesting that accelerates on acquisition) and explain that you want to turn over the day-to-day to them. Once they're comfortable running the business, you can resume trying to sell it, or just sit on a beach and sip mai-tais.
Re: Ask HN: I don't want to be a founder anymore
#19CEO's, Hedgefund Managers, Sport Stars, they all talk to psychologists. Give it a try.
Re: Ask HN: I don't want to be a founder anymore
#20Hit me up - email is on profile.