Is it Time to Leave Your Business?
Time to Leave Your Business – For those of us who have succeeded in business we know that feeling of leaping out of bed and looking forward to the day. There is nothing like it, we are in control of our own destinies, passionate about what we do, but what happens when that passion is gone? Especially when you are still successful. Is there such a thing as “business burn out?” Yes, here are some ways to cope with it.
Hire Others to Run the Business
This is how MOST major corporations become MAJOR corporations. The owner cannot keep doing all the work himself or he or she WILL get burn-out. I know it’s so incredibly hard to trust others to run your business but if you are not ready to or cannot sell this is a great option to free you up to do other things. Make sure you do very specific job descriptions of what you expect. Hiring good people is the most challenging thing (besides taxes) for all small businesses. Please will say they can do what they cannot. They are trying to pay a bill and you are trying to build a brand. So beware.
Sell the business
If you are still having success with the business and you’re burnt out this is a GREAT time to sell. Think of who would benefit most by buying your business FIRST. KNOW THE business‘ VALUE then approach those who you feel would benefit. I would strongly suggest separating yourself as much as possible as the owner of the business. Potential buyers will be turned off if you are the face of the business as it is beyond evident if you leave so do the clients.
You Can Start ANOTHER business or go Back to Work
If you did it once you can do it again. Some people choose to have the stability of a 9 to 5 again, you can do that too. Don’t let insecurity stop you from making a greater move. Once you KNOW how to run a business you can do it again.
WAYS TO DEAL WITH UNSCRUPULOUS COMPETITORS
Take a Much Needed Vacation
The fresh perspective will do you a world of good. I once sold my house and moved across the country when I was burnt out. That was a HUGE mistake. I lost EVERYTHING and had to start over. I didn’t need to uproot, I needed an excursion to Europe for 30 days. Always and I mean ALWAYS take the vacation FIRST and if you still feel the same way when you get back, it’s time to make some changes.
Time to Leave Your Business
What Aspect of the business is Bringing you Down?
Sometimes it’s not the business but certain parts of it that tax us. For example, I hate collecting past due money and I hate hiring. Hire someone else to do what you hate doing or are not good at or find another way to do it.