Why Do I Care?

Based on previous WSO threads, here are some insights that might resonate with your situation:

1. Strategic Value vs. Ownership:

   • Many professionals find themselves in a similar position, adding significant strategic value without having equity in the company. This can lead to feelings of discouragement and questioning the purpose of their efforts.

2. Reality Check:

   • It's common to experience waves of discouragement when you realize that despite your hard work, you are building someone else's business. This can make you feel like just a cog in the wheel.

3. Personal Experiences:

   • Some individuals have shared that they decided to work for entrepreneurial shops, earning a nice salary/bonus and a meaningful piece of promote, while building their own rental portfolio on the side. This approach allows them to contribute strategically while also working towards their personal financial goals.
   • Others have taken a step back in title and pay to land roles that align better with their long-term goals, such as moving to a well-respected REPE fund where they found better responsibility, culture, and growth potential.

4. Long-Term Perspective:

   • For those considering going out on their own as a GP, it's important to think in terms of 10 years from now rather than the next few years. The risk/reward profile of starting your own GP can be daunting, and it often requires a long-term commitment and the ability to weather tough periods in the real estate cycle.

5. Mental Health and Work-Life Balance:

   • It's crucial to recognize the physical and mental limits of grinding. Taking care of your health and finding a balance between work and personal life is essential to avoid burnout.

In summary, it's important to weigh the strategic value you bring against your personal and financial goals. Reflecting on your long-term aspirations and considering alternative paths, such as building your own portfolio or seeking roles with better alignment to your values, can help you navigate these feelings of discouragement.

Sources: Going out solo as a GP - juice worth the squeeze?, Career advice: Ideal role for becoming a GP, Q&A: Managing Director at Large Global Asset Manager, https://www.wallstreetoasis.com/forum/real-estate/running-your-own-shop?customgpt=1, A little advice from a F50 executive