Job Mastery Can Lead to Boredom Even After Millions Earned

I got a call from great friend and superior networker Jay Pendarvis.   We discussed next steps after his inevitable liquidity event (i.e. Ca$h Me Out) which is essentially every entrepreneur's dream. I watched Jay's life transform literally overnight. We worked for the same firm several years ago as W-2 employees. He boldly and correctly calculated that not only could he do the same work for himself but also that he could begin building an empire. Adding to his brilliance, he created a think tank and sent top billing invoices to his clients under the aptly noted name Cerebral Solutions.   Over the years, his staff, presence and revenues have grown substantially. That's worthy of celebration in itself but the trouble is when you experience that type of growth, you may become a moving target or even worse, and unthinkable as it may seem, bored with success.

Many government clients in the Washington region are very difficult to penetrate. Cerebral Solution's lucrative client base has proven that which incidentally hasn't gone unnoticed by competing firms. They may find it easier to pierce the armor on an M-1 Abrams tank than break through certain government doors.   It is for this reason that they target guys like Jay and ask him to sell his company. Such an acquisition provides instantaneous access. His employees remain employed while the acquiring company instantly gains sought after contracts. CEO's are paid based off incoming revenues and one way to boost revenues is to buy existing businesses. The acquiring company may offer the targeted company several times their annual earnings or EBIT (Earnings Before Interest and Taxes) which can lead to millions of dollars in offerings and a seven figure net payday for someone like Jay.

From CEO to DJ (Desk Junky)

Normally after the dust settles and Jay is wired his millions, the acquiring company will ask him to come on board as a consultant. They may offer a salary of a few hundred thousand dollars a year or it could be millions depending on the revenue size. The problem is now you're back on the W-2 bandwagon and boredom can quickly set in. Remember, Jay didn't gain this level of business acumen by being an employee. Due to his sale, he can't reenter the same line of business for a defined period, usually a year or two, due to noncompeting agreements.   So now he's either in an office or a cube next to people who couldn't care less that his company was acquired or that he's the new resident expert.  

In the interim, his home life goes from affluent to fabulous with new shoes for the whole family. His wife flies to Hollywood to get her signature Christian Louboutin's personally autographed. His kids outbid all the other kids on Ebay for the new Air Jordan's Spike Lee gave to President Obama and Jay gets what every other guy wants...a new car! So he dawns his former BMW license plate that literally meant M5 BEAST, calls BMW of Sterling, VA owner Thomas Moorehead and asks what's in his new inventory.   With a family of smiles, everybody's cool right? Well, sort of.  It's not that Jay's not happy, but he didn't exactly call to celebrate so now what?

The "And Then What? Factor

I hung my shingle out for investment consultancy so I normally work on fundamental or technical analysis of real estate or equity investments. People usually want me to go into how much money they can make from this investment or that one or they want advice on starting a business. I respond with a series of "and then what?" questions for a couple of reasons. One, it ensures they are passionate about whatever it is they are trying to do.   Two, it eliminates unnecessary steps. Three, it helps determine if you can do what you ultimately want to do tomorrow, today.

Passion

At Jay's level and any of our levels for that matter, if you're not passionate about what you're doing, it will probably never work. In my case, just sending a monthly newsletter occasionally jerks me out of bed at 3 a.m. even if I'm scheduled to wake at 4:30. Sometimes, I don't even want to wait until the next month but because I'm busily drafting other things, I keep my Fleetwood passions from cluttering your inbox. I mentioned Thomas Moorehead for a reason and that is because he is partial owner of a Marriott Hotel at Washington D.C.'s National Harbor. That means even though he is a hugely successful automotive dealer, he too may be experiencing some of Jay's success woes by getting an early head start towards something else. I didn't personally ask him so I'm not 100% sure. Telecom billionaire John Caudwell admits, "Business [success] gives you a massive high...It's very addictive. But it doesn't last long."

Eliminating Steps

I built three personal residences and invested in countless others before I accepted the fact that I was only trying to build my dream home. Look at the monetary missteps behind those decisions. Whether it's an item you want to buy or a new career path, the same rules apply when you know what you want. If you can figure out your destination's direction now and be excited about it, chances are you can eliminate steps towards making that dream come alive.  

Ultimately Happy Doing Tomorrow, Today

A new career direction is likely a treacherous cut in pay unless you're lucky. One way to eliminate that decision is by volunteering in the desired field and attending networking events. This gives you instant inside access to what your new life may be like. In addition, you may be able to do it part time for limited pay now which can lead to full time pay later, especially after retirement. Studies show you live longer when your mind is actively engaged. I know people in their 70's who live very vibrant lives and make the most of doing what they love so it never feels like work. It's nice to not need that bloated, pre-tax retirement account at age 701/2 when the government forces you to take it.

I was asked in a White House interview what was my favorite song. I could have said, "I'm Proud to be an American", but my answer was Maybach Music's own Rick Ross and Nicki Minaj's "You The Boss"! Perhaps I'll summon Jay and Ross to join me in South Florida for ownership conversations. It's there where we discuss hotels and Class A real estate amongst the sophisticates which are my tomorrows and the things that keep me happy today. For now, Jay's the boss so let's ensure he happily stays that way.