We speak with so many brilliant folks across dozens of industries and when those folks happen to be working for someone else, sometimes we can’t help but wonder why they aren’t working for themselves. How do folks decide between joining a firm or starting their own? We posed the question to the community and have shared some of their responses below.
Joanna Perry
I was a 22 year old college graduate with 7 years of sales experience working at CitiFinancial as a personal and real estate loan officer. This was an hourly position with company benefits and a lucrative commission/bonus structure. After the housing crash in 2008, many of the branches began to close and loans began to default. I was able to keep my branch profitable and one-by-one they began closing down all the other branches around me and sending their files into my branch. Within a 60 day time period, I had acquired the largest portfolio in California and was helping the clients who were past due get caught up. I was mitigating expenses, funding new loans, and adjusting terms for clients who were in a hardship on payments. In 2010, I won “The Biggest Company Impact Award” for the entire United States and was presented a wonderful trophy and speech opportunity at a conference in Dallas. It was during my years as a micro-managed loan employee that I realized how difficult politics were with respect to getting ahead. There were times were ethics and company goals were not congruent. I also began to gain insight and understanding surrounding discrimination in lending. I am bilingual and spoke with many clients who simply did not understand the terms of their home loans. They had been lied to and deceived by their sales person. This led me to desire a position as a fully secured mortgage loan originator versus being a personal loan agent with real estate loans on the side. One Day, Dean Adams from Wells Fargo Home Mortgage called me. It was a headhunting call. At the time, I thought my salary and title was really good for my age, and here was this Wells Fargo guy wanting to speak to me about a 100% commission job. I thought he’d lost his mind, but I agreed to one interview. Looking back on how silly my ego was at that age, I could have never imagined that the opportunity would change my life and the lives of over 3,000 future clients for many years to come. I had a knowing that I was supposed to take this new Wells Fargo Loan Originator position. It sounded crazy, but I chose to have faith in my higher power and trust the voice inside. I accepted the position. Six months later, I bought my family our first home. 6. Months. Wells Fargo taught me every aspect of the home loan process and how to handle every single department. After 6 years with their firm, I was ready to try a life without the Stage Coach emblem, and just rely on the name Joanna Perry. It was very disheartening when the same men who hired me and “loved” me told me, “You are only successful because of the company name recognition and consumer confidence. They want the brand, they do not want you. If you leave here Jojo, you will be on to the next employer and then another employer and we do not want that for you. You are too passionate to go out on your own. You will fail.” That really stung. I cried incredibly hard…for weeks. However, I chose myself and decided to wager my full bet on ME. I quit WF and went out on my own accord. And guess what…… Read more>>
Kametria Davis
When I first started out, I joined a firm. Originally I didn’t know what I wanted to do for a career. As I worked as an Office Service Specialist for a local Public Health Department, I began to fall in love with Data Analysis and Software Systems. Upon completion of my Bachelors I was promoted to an Associate Business Analyst. In this position I worked on an System Migration Implementation project. We had the worst Business Consultant, she was rude and disregarding of our needs. It was then when I discovered that I wanted to be a Business Consultant! I didn’t want another company or person to feel how I felt during the process. I began to research the requirements for being a Business Consultant and the top 5 companies. Being new in the field I knew i would need some leverage over others so, I enrolled back in school for my MBA. I took a job at another company that offered a Consulting Academy so I could get experience in the field. Then BOOM Deloitte called! It was the best decision for me. It allows me to work with clients and provide them great service. I do aspire one day to have my own consulting firm. Working for a Firm will give me the experience I need along with a resume and list of clients to put behind me. Starting your own firm is a great idea, however, you have to prove yourself to others and show why you deserve a chance over a bigger firm. Read more>>
Clifford Blanquicet Jr
I started with a firm to learn but all the owner did was “train” me for 4 hours and that included lunch and then said go get it. So I did. But when we started Blanq we wanted more attention to the brokers and feed the opportunities more to learn. Read more>>
Eliot Popkin
The first business I owned back when I was 19 years old was a franchise of a house painting company. It was great to see how organized they were and I learned so much about structure and project management. For me, the business was not a success financially. However, I learned alot and was able to take those lessons and it really helped me grow. Read more>>