Signs That You Should Sell Your Business
Perhaps it’s a thought that’s been creeping into the back of your mind when you go to sleep at night. Before you nod off to dream land, you think to yourself, “I’d like to be done with the business that I own.” When you wake up, you may not give it more credence, but still it nags.
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Selling your business is never an easy decision, and it’s one that business owners usually avoid for as long as possible. But, when you get down to it, there are telltale signs that it might be time for you to move on — either to retirement or to another opportunity that’s a better match for your needs and lifestyle.
Do you remember the feeling you had when you first opened the doors to your business? You felt like the whole world was in front of you, and that you were finally realizing a lifelong dream. The prospect of getting down to the nitty-gritty of running your business was exciting; you couldn’t wait to get up every morning.
But now? It’s the doldrums. Day in and day out, you’re doing the same things. That spark that you once had — the one that led you to open your business — is now gone. You’re just going through the motions.
If you feel this way, it’s a telltale sign that it’s time to move on. You’re an entrepreneur, and, like a shark, you die if you stay still!
Your Home Life Is in Shambles
Entrepreneurs, no matter how young or old, have one primary focus: their business. For a time, this works to their advantage. It’s that ambition that allows them to grow their businesses into the successful entities that they are.
However, there are other priorities in life; it’s not all about business. Maybe you’ve gotten married in the interim. Perhaps you have other goals in life — places you’d like to see, people you’d like to meet, things you’d simply like to do.
If thoughts of those things are becoming more pervasive, or if you find that your interpersonal relationships are beginning to suffer significantly, then it’s time to remember what’s important in life. Would you rather hang onto your business, or would you prefer to live a life fulfilled?
The Grass Is Greener
Remember we said that you’re like a shark, and that if you stop moving you’ll die. Well, when a person gains success in business, other opportunities come in his or her direction. Maybe one such opportunity has come your way, and you can’t help but think how much you’d like to be a part of it.
If this is the case, you have to do some soul searching. Does this new opportunity meet your financial goals? How about your life goals? Is it simply more exciting than what you’re doing right now?
You’ll Know When You Know
If you need to (or should) sell you’re business, then it’s something that you’ll know instinctually. Remember those sleepless nights we were talking about? That’s a sign. So, make sure that you’re paying attention to your entrepreneurial intuition. If you do, you’ll come to the right decision.