When Should I Step Away From My Business?

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In This Episode

Warning, this may get a little uncomfortable!  It’s always awkward for a business owner to think about this question, let alone ask it out loud.  Yet we know it’s a question that many business owners wrestle with at a variety of times with their business.  Is there a right time to step away from your business?  And what does “step away” really mean?

We’ve been blessed over our 20 years in coaching small business owners to have had numerous discussions with our clients about this exact question.  It usually comes up in a handful of different circumstances including:

  • Tired: maybe it’s been a couple of decades since you first started or bought your business and you’re just getting to the point where you aren’t sure how much longer you can keep up the pace of running your business.
  • Bored: maybe you’ve hired a couple of really good people who handle most of the day-to-day operations of the business and you’re feeling a bit “bored” with all of your free time during the day. One of the things you’re very conscious of is not getting in the way of your team and your business.
  • Overwhelmed: perhaps things have either grown so quickly that you’re having trouble keeping up or maybe things went the opposite way and you’re having trouble making money on a consistent basis.
  • Other: there can be a litany of other reasons why you’re trying to step away from your business.

A good starting point is to define what “stepping away” looks like.  Are we talking a couple of weeks or months or are you thinking of something a little more permanent?  Once you get some clarity on this and combine it with the reason why you’re looking to get some space then we can work on a solution for helping get you out of the business.

At the end of the day, the best question to ask to help clarify this is to ask yourself “What’s best for the organization?”  Keep in mind, you’re not asking what’s best for you, but what’s best for your organization?  There are times where it’s best for you to step away but most of the time there’s probably a better solution.

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