If you’ve been in business for any length of time, sooner or later most of us start to contemplate getting out. By getting out I mean knowing when to call it a day and either sell your business or shut it down. This can be one of the most challenging decisions an entrepreneur will face and once this little germ, nugget, seed of a thought takes hold, the internal dialogue one deals with seems to be incessant.
Depending on the day and your mood, your thoughts will swing from outright dismissal, to actually considering it as a possibility. This is not about having a bad day or week where absolutely nothing goes right and you want to chuck it all and drive off into the sunset. This is actually a fairly rationale discussion one has with oneself, yet many of us dismiss it as a whimsical daydream.
So here are 3 signs that it may be time to call it a day:
1. You’re Bored!
Your thoughts during the day are no longer focused on anything related to the business. Where once your every waking hour was consumed by thoughts of generating new business, improving your marketing or increasing your companies productivity, now it’s more about your personal interests. Maybe it really is time to move on!
2. Not Motivated!
Starting out is always exciting. Maybe it’s the challenge of getting your idea from just a thought, to an actual revenue generating enterprise with real customers. The challenges and roadblocks that every business faces are dealt with relative ease as it’s all about growing your business.
But now that you’ve been at it for a while, you’re finding it more and more difficult to sustain your motivation or enthusiasm for more than a few days. Granted we all face what I like to call “the poor me” syndrome, whereby we get depressed about the amount of work or lack of business, but these episodes tend to be short lived and then we return to our focused motivated self. But if being unmotivated is a frequently recurring situation, then maybe it’s time to move on!
3. Your Customers Are Annoying!
There is a statement that many business owners have used, including myself, and it goes something like this, “It would be a great business if it wasn’t for the customers!” Although it’s usually said in jest, more often than not there is a hint of truth in it. A true measure is the frequency in which it is said. If this is starting to become part of your regular vocabulary and you’re really starting to believe that your customers are becoming a pain, then maybe it’s time to move on!
What Will People Think?
Should you decide it’s time to sell or shut your business down, one question that will surely enter your mind is “what will people think”? Quite frankly, the simple answer is – who cares! It’s not about them, it’s about you and at the end of the day it’s your decision. I believe it’s Dr. Phil who said “If you’re worried about what people will think, you’ll be surprised at how little they care”!
So, if any or all of these are starting to manifest themselves you may want to find some quiet time and do some soul searching to determine what is truly driving this thought process.
Copyright © Greg Weatherdon 2011
If you found this helpful, Tweet, Like or tell a friend.