Estimated Profit
Electrical
I am a 14 year PE in Power Systems for a major utility in the mid-west (shall not be named!). I manage a group of engineers and have very strong experience doing, training, and overseeing two major sectors in our industry. There is a need for engineering firms to take on the level work like I do. Ok, so here's the part I need help with:
My manager and leader for most all of my career is great at networking, leadership, building departments, and a strong engineering background. Also a PE. He and 2 other middle managers (also PE's) started looking into creating a business with the plans to split away from the major utility. They did. They have been setting up long term contracts and have been moonlighting to make some money on smaller contracts. They've even been paid upfront for some - probably $200k or more. The issue is that he has been putting the bug in my ear about coming over to help build the departments FOR those contacts and lead a sector. That would be for a salary and profit sharing of that sector. They haven't left their positions yet but it's all being done legally due to not competing or any conflicts of interest.
My hesitation is that, I believe my skills are critical for that business to take off. One of the sectors I believe to be the most lucrative would require me. They are all 33% owners. When I casually mentioned if I could invest and come a partner he said they weren't looking for investors but that I could bring him an idea and they'd consider. I don't want to be an employee of something that I want to build, and know I can. How do you negotiate something like this?
My manager and leader for most all of my career is great at networking, leadership, building departments, and a strong engineering background. Also a PE. He and 2 other middle managers (also PE's) started looking into creating a business with the plans to split away from the major utility. They did. They have been setting up long term contracts and have been moonlighting to make some money on smaller contracts. They've even been paid upfront for some - probably $200k or more. The issue is that he has been putting the bug in my ear about coming over to help build the departments FOR those contacts and lead a sector. That would be for a salary and profit sharing of that sector. They haven't left their positions yet but it's all being done legally due to not competing or any conflicts of interest.
My hesitation is that, I believe my skills are critical for that business to take off. One of the sectors I believe to be the most lucrative would require me. They are all 33% owners. When I casually mentioned if I could invest and come a partner he said they weren't looking for investors but that I could bring him an idea and they'd consider. I don't want to be an employee of something that I want to build, and know I can. How do you negotiate something like this?