Well I just got a job and found out certain things that makes me uneasy about the company. It seems that there was a bit of smoke and mirrors during my hiring process.

I just found out that the funding for this start up is not fully funded. Basically 20Mil shy. The plan for growth basically was exagerated.

Since I am commission based this really does not affect me. However since I recruit, the people I recruit will be screwed if the company folds. I am not comfy with that.

So here is my dilema. If I quit now, I will not have unemployment. But I can not continue to recruit knowing what I know. Therefore I will not be making any money.

What would you do?

bring this up to the boss's attention.  let him know how you feel and that you have a moral dilemma and that the company exaggerated some numbers during your hiring.
if they fire you, can you still collect unemployment

Here's the thing.  Set your sites one rung lower on the ladder than you normally would for hiring and tell them up front that its a risk but that the potential rewards are there.  I would not however be looking for direct recruits from the competition.  Do not quit a job until you already have another one.  

Don't sweat it.  Keep working and recruiting.  Just advise every potential candidate to the point that you will make you feel honest.

Don't quit your day job!

Best of luck.

Hey that's an idea!!!


BTW I have more details. I'll post when I get home in a few hours.

Yeah seems my career as a trader has gone down the toilet since I moved to TX. I think I will start looking at selling cars again.

Have you seen the movie Boiler Room?

Risk+Work=Reward.  Just give it to 'em straight, LT.  A lot of folks are looking to get in on an opportunity on the ground floor.

Heck, I even got a few guys to enlist in the Corps, by TELLING THE TRUTH!!![shock]  If they know you're honest, your recruiting numbers may actually go up.

Damn LT, sorry to hear it.

I guess it's just your turn in the barrel...again.

Have meeting with the owner this afternoon. I'll see if he can ease my mind.

OK this all started when I got Ilikelegs an interview. I was trying to get an idea on the salary for the position he is interviewing as I am not the one recruiting for this. I never got an answer. They ended up telling him that he is overqualified and was paying around $22K for the position. (woh!!!)

So I dug a bit further into staffing.

We have a small back office now that will not stand the growth in sales reps that we are looking to bring on board. So I started to ask how much we are looking to pay these folks. Found out that they will be around 40% below industry norm.

In order to make this work we need experience people. They cost money. Money which I found out they do not have, YET.

They are looking for venture capital funding. In the tune of 20-30mil. Right now we are at a shoestring budget. Half a shoestring.

Its a catch 22 at this point.
I bring on reps to create revenue for me and the company.
However, having an inexperienced support staff will drive them away. I've seen it many times and also from personal experience. Nothing worse than making a big sale only to blow up in the back office cause they can't process it.  
But without funds we can't hire experienced support staff to keep the sales reps I hire on.


So I talk to the owner yesterday, and nothing set my mind at ease. I was under the impression that we had funding to last 2 years. Well it seems that 2yr time frame started 1yr 4mos ago. [:(] Hence the rush to expand the biz. Last ditch effort if you will.

I've decided to stick it out till the door closes or I get another job, or it takes off like planned.

I am really dis-heartened. TX really is not where my chosen industry thrives. Matter of fact no industry in TX is thriving at this point. Everything in my careeer points to CA or NY. I can't think of changing profession. I love the financial services industry. It is the only career I have chosen that keeps my interest. All others bore me. Except maybe being an FBI, which I have already applied for.

Well the job search continues. This time, as much as it pains me. I need to concentrate to either going back to CA or to NY to get back on my career track. I have succumb to smoke and mirrors tactics to achieve a fast track in my career. I need to focus on my career goals and not take short cuts.

I should've stayed with my previous job in CA. I would've been making 6 figure by now and a VP title. I would not have problems with women like I am now. "Grass is always greener..." has been a great lesson in my life. In the past 3 years I have not achieved any substantial goals I have set for myself. Not for the lack of trying but due to the bad choices I have made.    

Yet another lesson learned. [:(]