3 Questions to Ask Yourself Before Giving Up on Your Business

As entrepreneurs, we hear a lot of information on starting a business, building a business, and staying motivated. Where you may be lacking information is what to do if you start to hate your business.

As a civilian employee – you have the option to quit. As a veteran, the concept of “quitting” probably doesn’t sit well with you – even if you’re miserable. To complicate matters further – as an entrepreneur, everything about that business likely is dependent on you. You can’t simply walk away.

However, if you do find yourself falling out of love with your business – simply pushing through and “embracing the suck” can do more harm than good. After all, if you’re miserable, it’s likely that your business and members of your team are suffering too. In these cases, it’s time to take an objective look at your future in the company. Here are a few things to consider.

Is It Really The End, or Is It Just A Slump?

It’s natural in the life of every small business owner to lose focus and find yourself stuck in a rut. This can make you feel discouraged and even force you to consider walking away from your own company. Fortunately, these slumps are normal – and usually surmountable.

What to Do:

Try these tips to help yourself avoid feeling “stuck” in your business.

Is It The Money?

Many of us get into business to accomplish great things – one of those great things is to make a healthy living for our families, our employees, and ourselves. If you have been working your business, and the money just isn’t coming – you may be tempted to jump ship. The first thing to recognize is that this is a valid concern, and something that you cannot ignore.

What to Do:

If you find yourself unable to bring in enough money to sustain yourself and your business – you do have options. You can consider taking a part-time job to supplement your own income. You should also find a professional who can help you understand your books, margins, and produce a marketing plan to help you bring in some cash. This may require you to update your business plan – so it’s important to be open to new ideas. You can also consider bringing on a partner or a VP with a fresh perspective and a drive for sales.

Are You Overwhelmed?

It’s lonely at the top. Being an entrepreneur can leave you feeling overwhelmed – like you cannot get away. This can lead to burn out, and leave you hating the business that you used to love. This is normal, preventable, and you do have options to get that work-life balance you’re lacking.

What to Do:

As an entrepreneur, you may want to control everything about your business. After all, it’s your “baby”, and you know best – right? Not so fast. You got into business to do something that you love, and it can be easy to get bogged down with the other minutia that comes with running a business. Consider hiring an employee, contractor, or service provider to take on some of these tasks. You’ll still need to manage that element of your business, but it will free up enough of your time – allowing you to prioritize what really brings you joy in your company and your life.