How would you weigh an early retirement decision to go into full-time entrepreneurship?
For fifteen years, Shane Moran was with the New York City Police Department. And for twelve of those years, he was a detective in its Scuba Team.
The NYPD’s Scuba Team is “one of the few (if not the only) full-time law enforcement Dive Rescue and Recovery Teams in the country.” It handles “anything and everything that can possibly happen in or around water, from air-to-sea helicopter rescues to scouring sewers for explosives. It presides over one of the toughest environments in the world—over 500 miles around and under the waters of New York City.” (source)
So, you can say that Shane’s not averse to taking risks. I mean, he jumped out of helicopters for a living!
But deciding to quit that exciting and adrenalin-pumping world, for the equally exciting and adrenalin-pumping world of business, was a different kind of risk. Shane took a diligent approach before committing to early retirement so he can devote his time to his growing business.
In this episode, Lou and Shane discuss how we weighed his decision to leave the NYPD five years shy of full-retirement, to run Goji Fitness, the health and fitness company which he co-founded with Emma Galland.
Highlights of Episode 5:
- what life was like as part of the NYPD Scuba Team;
- why and how he made the transition from law enforcement to business and entrepreneurship;
- how he managed the financial risks that naturally come with starting a business;
- what inspired the flagship product, Zenberry;
- what life is like now that he’s not diving into the freezing waters of NYC.
My Key Takeaway
When making any kind of career change (and especially when you’re looking to start a business), preparation is key. Understand the ramifications of your decision so that you can embrace the sacrifices you’ll have to make to achieve what you want to achieve.
What about you? What was your takeaway from this episode?
Share your thoughts in the comments section below.
Mentioned in this episode
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