Crazy Boss That I Love

[iker]

Greetings, Mustachians! I’m a 25 yo male and I have my dream job. I’m well compensated, love what I do and have a tremendous amount of free time and autonomy. I took 25+ days of vacation last year and rarely work more than 7 hours per day. I can finish my work in approximately half that time depending on how busy the company is.  The only drawback to my job and situation is my boss is bi-polar and his erratic behavior affects my well-being and mood. Everyone has mood swings, but drug addiction and hookers compound the effects of his bi-polar. There are a myriad of examples I could share, but I’ve had to fly out to Las Vegas and pull him out of a business trip that turned into an extended drug bender. He is a pleasure to be around when he is healthy and has invested a TON in me but when he goes through an episode it creates a depressing and unstable work environment that affects my well being in and outside of work. I’ve gotten really into yoga, meditation, and stoicism to cultivate stillness but I still struggle to strike a balance between empathy and self-preservation. It fucks me up watching someone else going through intense pain and suffering.

Our company would be profitable but his instability leads to poor business decisions and manic benders where he spends thousands of company money. He is the sole owner of the company and is not accountable to anyone but it still pains me to see such self-destructive behavior. On top of that, he received a significant windfall two years ago and approximately 60% of it has slowly evaporated because of poor financial management. I fear his self destructive behavior will not stop until he spends all of his money and is left with nothing. He has very little family and many of his friends won’t tolerate his behavior anymore because it’s been going on for 20 years.

Jim Rohn is often quoted “You are the average of the five people you most associate with.” At what point do I say I’ve had enough and quit? I love my job, lifestyle, and boss but it sucks taking care of an adult and cleaning up the mess he leaves behind. His mania and depression is a weight on my well being.

I’d like to start my own business in the near future and this is a perfect entrepreneurial breeding ground because I have a ton of free time and my profession offers ample opportunities for learning, yet I lack a sense of urgency in getting started.

Questions
-Am I naïve to believe someone that has exhibited this type of behavior for 20 years has the capability and likelihood to change?
-Am I naïve to believe I can be a positive influence while separating his well being from my own?
-What should I be doing with my money so that (1) I have the ability to start a business (2) I’m not scrambling to make ends meet in the event that shit hits the fan? I’d be hard pressed to replace my job satisfaction, income, and freedom in another job.
-What should I be doing to stop thinking about starting a business and just do it? An ounce of action is worth a ton of theory.

I recognize I’m quite fortunate to be in this situation and that it is a privilege to be able to choose where, how, and with whom I spend my time. I’d love to hear your thoughts on what I should do to stop living in fear and have the courage to be my true self. Thank you.

With love and gratitude

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Financial Stats

Income-
Salary- $72,000 per year. 1099 contractor.
Airbnb- ~$12,000 per year
Total- $84,000 per year

Assets
Emergency Fund- $11,500 @ 1.05% online savings account
Cash- $15,000 @ 1.05% online savings account
Wealthfront Roth IRA- $8,500. $200 monthly deposit and I max it out at the end of the year.
Wealthfront personal account- $1200. $200 monthly deposit

Total assets- $36,200

Liabilities
Student loans- $6,234.59 @ 5.31% . Monthly payment is $120. Principal was ~$20,000 and I’m paid ahead by several years.

Net- $29,956.41

I recognize that’s a lot of money to have sitting around in cash but I keep it there because I’d like to start my own business, invest in real estate, and my employment situation is unstable. 

[TreesBikesLove]

Try to take over the business or start up a competing business with the eventual plan to pull in your boss's customers when his company inevitably goes under.

[Sibley]

If your boss hasn't gotten it together by now, you're not going to have an impact. I assume he doesn't take his meds regularly? There are consequences. One of those consequences is alienating your friends and family. Another is running your business into the ground. Another is having a good employee/contractor quit because he's fed up with your BS. People with mental illnesses can have these problems, and it's a problem for society, but it is not your personal problem.

Start looking for another job. Or get off your butt and start your own business. But get out of that environment, because you're in serious danger of having YOUR mental health damaged.

Your questions:
-Am I naïve to believe someone that has exhibited this type of behavior for 20 years has the capability and likelihood to change?   YES
-Am I naïve to believe I can be a positive influence while separating his well being from my own?  YES
-What should I be doing with my money so that (1) I have the ability to start a business (2) I’m not scrambling to make ends meet in the event that shit hits the fan? I’d be hard pressed to replace my job satisfaction, income, and freedom in another job.   Start a business, or find another job.
-What should I be doing to stop thinking about starting a business and just do it? An ounce of action is worth a ton of theory. Write a business plan. You have one week, starting from 1pm 4/18/2017. By 1pm 4/25/17, you should have a first draft of a business plan. If necessary, I can hunt you down and demand a copy.

Your finances:
You don't list expenses. Living expenses should be $30k or less annually. If not, fix it.

Consider this your kick in the pants.

[J Boogie]

-What should I be doing to stop thinking about starting a business and just do it? An ounce of action is worth a ton of theory. Write a business plan. You have one week, starting from 1pm 4/18/2017. By 1pm 4/25/17, you should have a first draft of a business plan. If necessary, I can hunt you down and demand a copy.

What did you wanna be, Raymond K. Hessel? The question, Raymond! Was "What did you want to be"?!

I'm keeping your license. I'm gonna check in on you. I know where you live. If you're not on your way to becoming a veterinarian in six weeks, you will be dead. Now run on home.

[J Boogie]

I couldn't resist.  Sibley your response was straight out of fight club.

[trollwithamustache]

If you are on a 1099, he is your client, not your boss. As long as he pays you on time, its your responsibility to do good work for him.  That's it.

It sounds like him being a nut job doesn't actually bother you personally. So, the question is, does him being a nut job mean your only client is about to become fiscally unstable?

As for starting your thing, the beauty of mustachisimo  is a low cost of living gives you a long runway. Write a business plan. Make a written list of your clients mistakes and how you'd fix them.

[rockeTree]

I've worked for crazy. He won't change at his age most likely. My guess is that the more you clean up his messes the more he will rely on you to do it. So he won't fire you, but the job may get to be more and more of a hassle.  Can likely squeeze some raises out as he depends more on you if you don't mind the trouble and the money's there but have an exit plan ready. You will need it.

I know you feel bad for the dude and I imagine he's not having fun with his condition but you're not a therapist and he hasn't asked you to solve his mental health problems. He likely knows from experience what working to face them down takes and think he can keep getting away without doing it a while more.


Sent from my iPhone using Tapatalk

[Capsu78]

"If you are on a 1099, he is your client, not your boss."
This ^^^

I left employ of F1000 corp to become a consultant to said F1000 and a core of other clients specifically to be able to "pick and choose" who to work with and what to work on...1099 life was sort of an insurance against having to work with scoundrels, Aholes and other miscreants.  But I found it was easier to smile through working with a probable bi-polar sufferer who I still learned a ton from as well as a "great fun, huge ego'd former college wrestler" who was such a d-head that at the end of the day you were just thankful he was sitting on your side of the negotiating table. 
However, he had to go full "12 step program" when his youthful crazy finally expired and he was never as much fun to travel with again!   I had to explain my "value" to the organizations new owners when the previous owners were replace with a VC approved management team.  I was asked how my performance was measured: my response was "I have a monthly performance review.  I send you an invoice, within a week I expect a check to arrive in my mailbox.  If that check clears the bank, then I consider it a successful performance review.   The Ivy Leaguer business schooler interviewing me, who had not smiled through a long dinner and knew nothing about what I actually managed for him, except that if there was a mistake made, it would take six weeks to recover, put down his napkin and burst out laughing- "I have never had, or considered delivering a reply to a business person like that ever...but at least I understand your position now"

[b1901]

You shouldn't be a 1099 contractor in this situation. On Monday, you politely demand the following:

1. Same paycheck
2. 401k plan with 5% 1:1 match
3. Health benefits or a stipend for $1000/month
4. Cell phone plan or a stipend for $100/month
5. Call hours with pay for those hours

You should start a side hustle in a similar industry. It should be complementary to your job, not competing. Once your side hustle pays more than your job, you give your boss 2 weeks' notice.

I'm sorry that someone you like and respect has a mental health disorder, but you aren't able to solve it. You can help yourself though.

[Smokystache]

+1 that he won't change and you can't make him.

 Shift to looking at this as a great opportunity to learn where the highest profits with lowest effort is. Look at all his services/products and clients.....where is the best reward to income ratio? Or in others words, find the 20% of his business where he is making 80% of his income. Bonus points if it is something that he doesn't do well. Begin crafting your business plan to specialize in that and then expand /adjust as you get more feedback.

Try to get as much face time with clients as possible. Offer to go on those business trips to help. Offer to go to professional meetings, conventions, meet ups, etc. If his clients eventually want to use you, having a personal relationship will facilitate the transfer.

[bunchbikes]

The lowest-risk way to start a business is to bootstrap.

The best way to bootstrap, is to start your business on the company time, and the company dime.


When I was a school teacher, I'd spend each off-period working on my business. Not having the pressure to have to pay the bills on my business profits, allowed me some time to figure out what the hell I was doing.  Eventually, the business grew to a point that going to school was costing me more money in lost profits, then it was making me in salary.  At that time, I quit.

You are in a perfect situation to start a business. Take action.

[iker]

Thanks for all of the thoughtful replies. I'm grateful for everyone's feedback and insights.


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The lowest-risk way to start a business is to bootstrap.

The best way to bootstrap, is to start your business on the company time, and the company dime.


When I was a school teacher, I'd spend each off-period working on my business. Not having the pressure to have to pay the bills on my business profits, allowed me some time to figure out what the hell I was doing.  Eventually, the business grew to a point that going to school was costing me more money in lost profits, then it was making me in salary.  At that time, I quit.

You are in a perfect situation to start a business. Take action.

Well said. I'd be foolish to walk away from this amount of free time, learning, and income until I've built a business and replaced my income. It always takes longer than expected to build business but I'd like have a product for sale 7/1/17. I don't feel comfortable (or passionate) replicating what my existing company does so I'm starting from scratch. I'm taking action. Thank you all for the encouragement.

[bunchbikes]

Thanks for all of the thoughtful replies. I'm grateful for everyone's feedback and insights.


---

The lowest-risk way to start a business is to bootstrap.

The best way to bootstrap, is to start your business on the company time, and the company dime.


When I was a school teacher, I'd spend each off-period working on my business. Not having the pressure to have to pay the bills on my business profits, allowed me some time to figure out what the hell I was doing.  Eventually, the business grew to a point that going to school was costing me more money in lost profits, then it was making me in salary.  At that time, I quit.

You are in a perfect situation to start a business. Take action.

Well said. I'd be foolish to walk away from this amount of free time, learning, and income until I've built a business and replaced my income. It always takes longer than expected to build business but I'd like have a product for sale 7/1/17. I don't feel comfortable (or passionate) replicating what my existing company does so I'm starting from scratch. I'm taking action. Thank you all for the encouragement.

Don't just replace your income.

Replace your income, and then some.

If you replace your income and quit, then the growth of the business will stop, because you no longer have money to grow it... the profits are all going to pay your bills. This is especially true in a product-based business, where growth means carrying additional inventory and investing in new products.

For me, I quit around the time my business was making twice my school salary.