Often a business owner doesn’t know that he or she is experiencing burnout until it is too late. Owners who feel over stressed frequently want to sell their business and move on. However, buyers are not so eager to accept burnout as a believable reason for why an owner wants to sell.
Every business owner needs to be on guard against potential burnout. After all, it is better to “cash in” than to burnout. Here are a few key warning signs that you may be on the verge of burnout.
Sign 1: There is No Joy in Owning Your Business
There was a time you were likely excited about your business. If those days are long gone, it might be time to move on. Owning a business is hard work and eventually it can take a toll. If you find each day to be boring, then it is probably time to sell and move on to a new chapter in your life.
Sign 2: You Feel Exhausted
Feeling exhausted is another potential sign of burnout. It is unlikely that you can run your business effectively over the long haul if you feel exhausted all the time. It may be time to consider selling.
If your business is doing well, growing and expanding, then there will be more demands on your time, not less. If you feel exhausted a large percentage of the time and your business is expanding, then cashing in may be your best bet.
Sign 3: You Feel Overwhelmed Almost on a Daily Basis
Business owners who frequently feel overwhelmed are likely teetering on the edge of burnout, especially for business owners who are operating a “one-man show.” Operating a small business, especially one where you are doing most of the work, can be both physically and mentally exhausting.
There is something to be said for being proactive and tackling burn out before it tackles you. This way, you’ll be able to sell your business on your own terms. The last thing you want is to try and sell your business after you no longer have the energy to keep sales going in the right direction.
Don’t let burnout put the fate of your business in a vulnerable position. Work with an experienced business broker to get your business ready to sell.