Owning a business can be rewarding and exciting, but it is also a tremendous amount of work. The “buck” stops with you. With that acknowledgment comes a lot of stress. Stress can lead to burnout. A business with a burnt out owner can spell trouble. As the owner, you can take a vacation. However, your burnout might not even let you enjoy the vacation, especially if you are checking your texts and your computer all day long.
The First Step is Acceptance
When dealing with burnout, the most important step is to admit that you are in fact, burnt out. This condition may be the result of physical and mental fatigue. With burnout, there is often a connection with issues such as health and diet.
Start Taking Care of Yourself
Make sure you are taking enough time or thinking enough about your health and well-being. Consider improving your diet to include fresher foods and reduce or eliminate fast food. In the end, you are the key element in the success or failure of your business. If you are suffering from fatigue, aches and pains, then you, as the heart of the business, are ultimately harming the business. Safeguard the health of your business by putting your health first.
Consider Putting a #2 Person in Place
Many business owners have a great “right hand person” that can take over if the owner becomes sick. If this is not the case, start cultivating that person now. Keep in mind that when it comes to selling your business, having that key team member will be essential to your potential buyer.
You may be saying, “But I’m a health freak and I still feel burnt out.” Owning a business is demanding, and the years can weigh heavily. It is important, especially before burnout sets in, to step back and look for ways to streamline your operations and delegate responsibilities. Small changes can have a big long-term impact.
In the end, if taking a vacation, improving your health and streamlining your operations don’t yield big results, it might be time to consider selling your business. There is no rule that states that you must operate your business until retirement. Don’t be afraid to walk away if necessary. Click here to view EBIT Associates services related to Selling a Business.