The business owner spoke intensely with frustration. I listened attentively as he unloaded them on me.
“I am sick and tired of dealing with employees! I feel more like I am running a daycare center than a business and it’s worn me out. I’m through with it!”
“John,” he continued, “I used to think that I wanted to scale my business to become a big company, but it’s just not worth it. It is too much for me to deal with, so I am going to scale back to just Chris and me, no one else.”
“I have concluded that with just the two of us I can make more than adequate money, and I won’t be stressed out.”
When he finished, I acknowledged his concerns and stated that:
“I understood his frustrations, that they are valid ones. That I was once there myself many years ago. Another reason that I wanted to sell my first business at 23. It wasn’t worth getting rich and then dying on the golf course at 35. Quality of life was much more important.”
But then went on to explain that taking a pause can be a good thing. Just as I had done—where after a couple of years had time to reflect on things and approach the next business from a learned perspective.
It was disappointing that my client made the decision that he made. Over the two years I had been working with him, he had grown his business from just below $200K to bumping up against $1 million in revenue.
- He took advice.
- He used the vetted resources and partners that we provided.
As I liked to say, “he was off to the races.” And though he was so close to crossing the Rubicon, he had no more left to cross it and (to bring on a strong GM and grow things to the next level.) With that, he realized he still needed to take a pause.
My favorite small client recognized his own limitations. And for this I commend him. What about you?
- Are you really in control of your business? Or is it controlling you?
- At what point do you consider that enough is enough?
- What are your real options?
- Should you sell your business or simply scale down?
- If you scale down, can you simply sell a part of your business and keep that part you want?
This is the end of the year. This is a great time to explore your business options and match them up against other important things such as your family, health, and sanity.
Being a small business owner, or a CEO of a large company can be rewarding and satisfying, providing that it isn’t ruining the rest of your life. Remember, it is “all about balance.”
John knows what it feels like to be a small business owner, and he will always support his clients—regardless of how their decisions affect him. If you want to learn more about how John can help you, visit russellstrategygroup.com