Ms. Career Girl

Top Menu

  • Home
  • Media
  • About
    • Terms of Use
    • Privacy Policy
  • Advertise
  • Contact
    • PR and FTC Disclosure
  • Subscribe

Main Menu

  • Home
  • Careers
    • Productivity
    • Career Confessions
    • #SideHustle
    • Job Search Advice
    • Resume Optimization Tool
    • Job Board
  • Lifestyle
    • Life After College
    • Health & Beauty
    • Style
    • Money
    • Travel & Leisure
    • Product Reviews
  • Relationships
    • Dating
    • Marriage
    • Working Moms
  • Specials
    • Real Career Girls
    • Style Your Life
    • Book Club
    • Giveaways
  • Home
  • Media
  • About
    • Terms of Use
    • Privacy Policy
  • Advertise
  • Contact
    • PR and FTC Disclosure
  • Subscribe

logo

  • Home
  • Careers
    • Productivity
    • Career Confessions
    • #SideHustle
    • Job Search Advice
    • Resume Optimization Tool
    • Job Board
  • Lifestyle
    • Life After College
    • Health & Beauty
    • Style
    • Money
    • Travel & Leisure
    • Product Reviews
  • Relationships
    • Dating
    • Marriage
    • Working Moms
  • Specials
    • Real Career Girls
    • Style Your Life
    • Book Club
    • Giveaways
#SideHustleAsk MCG
Home›Work›#SideHustle›How Do I Quit My Own Startup or Side Hustle?

How Do I Quit My Own Startup or Side Hustle?

By Ms. Career Girl
Oct 1, 2019
13724
0
Share:
the great resignation

For some Founders, their “job” at their startup isn’t necessarily something they want to keep. There can be a ton of factors at play, whether it’s “I can’t afford to do this any longer” or “I’m more passionate about something else.”  No matter what the reason, it is in fact possible to quit our own startup. There are just some creative ways we need to approach it.


Today’s Advice Sponsored by Divvy

If I quit, who runs this thing?

Depending on the size of the company, there may be quite a few people who are interested in our jobs. For example, if it’s a 10 person company that’s doing OK (not great), our CEO job might be something we’re totally over but someone else in the company may find it as an incredible opportunity to be the CEO for once.

That same opportunity may come from the outside world, where someone else with fresh legs would jump at the chance to be the CEO. Remember, most people aren’t getting CEO opportunities daily, so this is a job search like any other.

I still need money. What happens there?

If we quit, we need to do so with the intention that we’re going to replace that income somewhere else. Which is often a job. If we own the whole company and there is enough money to pay a CEO salary AND a distribution back to us — wonderful. But that’s often not the case.

We have to be pragmatic in realizing that if we aren’t going to contribute to the company on a go-forward basis, the company probably can’t afford to pay us. In that case, we have to rely on the value of our equity as the payoff.

Can anyone prevent me from quitting?

Nope. We may have some investors that get really upset about it, but in fact, no one can prevent us from walking out the door. We may have some provisions in our contracts that create some monetary loss (like unvested stock) but beyond that, we’re an at-will employee like anyone else.

If it’s time to hand ourselves our walking papers, we can absolutely do it.   You CAN quit our own startup.  We just need to look at our role like an employment decision where one person steps out, and another person gets recruited back in.

Tagsquit our own startup
Previous Article

5 Ways to Make Money with a ...

Next Article

4 Important Health Benefits for Breastfed Babies

0
Shares
  • 0
  • +
  • 0
  • 0

Ms. Career Girl

Ms. Career Girl was started in 2008 to help ambitious young professional women figure out who they are, what they want and how to get it.

Related articles More from author

  • #SideHustleLife After CollegeSelfWork

    Get a Modern Day Career Path Dream Catcher

    Feb 7, 2014
    By Ms. Career Girl
  • #SideHustleSelfWork

    Get Your Creative Juices Flowing Today with a Creative Project

    Nov 15, 2013
    By Ms. Career Girl
  • #SideHustleWork

    Featured Lady Fridays: Melissa Alvarez, Founder of The Nanny Tree

    Nov 14, 2008
    By Ms. Career Girl
  • #SideHustleSelfWork

    Global Entrepreneurship Week

    Nov 19, 2008
    By Ms. Career Girl
  • #SideHustleDatingPlus OneSelfWork

    Thinking Like an Entrepreneur in Relationships

    Dec 12, 2008
    By Ms. Career Girl
  • #SideHustleWork

    Customer Service or No Customers.

    Dec 16, 2008
    By Ms. Career Girl

  • Career ConfessionsLife After CollegeSelfWork

    A Tale of High Achieving Career Ladies

  • work in sales
    Life After CollegeSelfWork

    Why an entry level sales job is a great way to kickoff your career

  • #SideHustleLife After CollegeSelfWork

    Get a Modern Day Career Path Dream Catcher

Subscribe

Job Search

As seen on

career advice blog badge oriel badge

Featured On

  • About
  • Contact
  • Advertise
  • Resume Optimization Tool
  • Privacy Policy
  • Terms and Conditions
© Copyright 2021 Ms Career Girl