Are you at the point in your life where you feel you are at a crossroads?
Are you at the point in your life where you feel you are at a crossroads? You have spent a few years building up your business, and bam the economy throws you a curve ball. Your business is not doing the numbers you want it to. So, do you give it up and get the dreaded job? Or do you try and stick it out for another year?
Before you make this life changing decision, a good thing to do is make a list of the pros and cons. Here are a few questions you can ask yourself.
1. Can I work for someone else? You have been your own boss for some time now, can you go back.
2. Would a steady paycheck help ease the stress/ burden at home?
4. Will you have regrets that you did not give it one more chance?
At some point in each of our careers, we have had doubts. Am I doing the right thing? Is
this really what I am supposed to do? As business owners most of us have had the “talk me off the ledge moment”. This is where you confide in a friend that you want to give up. Something severe happens and you are reacting. This is a different scenario than your business not doing well over a long period of time.
After you have made your list, think about the answers you have written down. No decision should be made lightly. Talk to a few of your close friends, see what advice they may have to offer. My friend Kathy once told me for 24 hours pretend the answer is you are giving up your business and just walking away. For that 24 hour period how did you feel? A sense of relief? Sadness? Well that could be your answer.
If you are still undecided after you make your list, you can always get a part time job. This will show you what it would be like to work for some one else. You will still have your company to fall back on if you decide that is what you want. Perhaps a few years from now you can restart your company.
Originally published in the Democrat & Chronicle on June 25th, 2013.