On when it’s time to consider giving a business up, the question is “My business is killing me, should I sell it?”
I’m going to try and answer this question as best I can in writing.
If it really is killing you, then it’s time to go. If it’s a figurative killing you, then the business and the owner need closer inspection. How bad is it? Are you a bit frustrated and needing to change something or are you at the and of your tether?
Are you burning through what little cash resources you have at an alarming rate? Because if you are then exiting immediately might be best. If you aren’t, then you have more time to consider your options – can you recover the situation or is it lost altogether?
The figures are important, of course but so is how you feel. If I was talking to someone really in this position, I’d be trying to understand the depth of their need for change and why they wanted change – money, stress, hating it, burnout, frustration and also, could I see a way to help them be happy there again – is it fixable.
So it’s not a simple question and it requires careful consideration for each individual and their business. And anyone in this position should obviously call a business coach and request a free session to consider this very question. 🙂
Now, I want to hear from you – have you ever felt as though your business was killing you, and you couldn’t breathe? What was the decision you chose to go with and how do you feel about it?
If this is the burning topic of the day, then email me and I can help with some clarity.
Jon Dale
Small Fish Business Coaching Byron Bay
www.smallfish.com.au