moral dilemma!

smokeyjoey

I have been working for a very small company in a niche industry for the last year. It has always been my dream to start and run my own business and I'm sure I've spotted a gap in the market.

The problem is the gap is basically competing directly with my current employer's business. So basically I would be taking everything I have learnt from my boss and using it to take some of his market share. He has quite a monopoly at the moment so my starting up would likely have a significant impact on his business.

I don't want be a dirty rat, but this could be a great opportunity to fulfill a dream.

What do I do? Help!

fguk

It may well be more that just a moral dilemma, check your employment contract if you have one, as it may exclude you from working in the same industry, or setting up a rival company for a time period after you leave.

If all of that is clear, then you are left with just your morals to consider, and only you can answer that one.... I have one thought regarding it being a niche business that only one company serves, someone else is bound to spot that niche eventually, so if you dont become the competition, someone else will.

Have you thought of discussing this with your boss, suggesting you might like to become a partner, tell them how you would develop the business, why you think you would be successful with your new ideas. Obviously do that carefully so they dont steal your ideas!

McAzrael

We've had employees leave us and go into competition, and some have done it the right way: told us their plans; given us notice and not tried to poach our customers, and we have been supportive, offered advice and even sent them work. It's almost like watching your children grow up, you want the best for them. Others have left the wrong way. They can go and get bent.

motorguy

smokeyjoey wrote: »

I have been working for a very small company in a niche industry for the last year. It has always been my dream to start and run my own business and I'm sure I've spotted a gap in the market.

The problem is the gap is basically competing directly with my current employer's business. So basically I would be taking everything I have learnt from my boss and using it to take some of his market share. He has quite a monopoly at the moment so my starting up would likely have a significant impact on his business.

I don't want be a dirty rat, but this could be a great opportunity to fulfill a dream.

What do I do? Help!

I'm a little confused you say you've found a gap in the market, but you would be competing directly with your current employers business to take some of his market share?

The other side of this is you could start up in competition, his customers be loyal, and you crash and burn? Depends on what the business is i guess.

smokeyjoey

pgilc1 wrote: »

I'm a little confused you say you've found a gap in the market, but you would be competing directly with your current employers business to take some of his market share?

My employer has no real competition. If there was another supplier offering the same service with a few different usps I'm sure there is potential to take a lot of business.

The other side of this is you could start up in competition, his customers be loyal, and you crash and burn? Depends on what the business is i guess.

the sky is blue, grass is green!!

mardatha

I would go along with Azrael. Be nice and do it the right way , think of your Karma !

smokeyjoey

mardatha wrote: »

I would go along with Azrael. Be nice and do it the right way , think of your Karma !

Unfortunately that isn't an option. I know for a fact that they would go ballistic.

katiecoodle

can his business be franchised?

smokeyjoey

katiecoodle wrote: »

can his business be franchised?

No, not really

under-the-thumb

I would go for it.
At the end of the day, you will only regret not going for it.
The chance to work for yourself, if you are confident in your analasys and your own ability, then do it.

justpaper

smokeyjoey wrote: »

My employer has no real competition. If there was another supplier offering the same service with a few different usps I'm sure there is potential to take a lot of business.

so in a nut shell your saying you want to copy his biz and give what ever "xtras"

ok if your going to open it in the same area thats going to be some battle so u better have the ideas and cash flow to keep the bizz a float untill the storm has passed,.

at the end of the day its up to you to go for it or not,.

My view is ... you aint got the cash live hence u will be going to loan it off x y b, and ur worried about leaving a Job then going bust rather then worrying about ur boss bizz,.

come on lets face it, if you morally didnt want to do it you wouldnt be asking about it, and you already know all the ifs and buts, just go with whatunder-the-thumb said above,. and write a diary about it in the right section