A business owner can experience burnout even with a successful and growing business. Many independent business owners feel they’ve worked hard, and made their money, and now is a good time to cash out and move on before burnout endangers the business’s health.
If you’re at this point, it’s important to understand what burnout is and how to prevent it from happening in the first place.
The following warning signs should remind a business owner that cashing out beats burning out:
You are overwhelmed daily.
Are you feeling overwhelmed daily? It might be time to consider cashing out before you reach burnout. When a business owner is a one-person show, even small tasks and minor decisions can seem bigger than Mount Everest. These owners have been shouldering the burden alone for too long, and the isolation has taken its toll.
If you’re starting to feel like you can’t handle everything on your own, it’s time to take a step back and reevaluate your situation. Cashing out might seem like the easy way out, but it’s actually a sign of strength. By admitting that you need help, you’re taking the first step toward finding a solution.
You sense a failure of imagination.
One key to overcoming a lack of imagination is to get out of your own head and see things from a different perspective. You can do this by talking to other business owners, reading industry blogs and newsletters, and attending trade shows and other industry events. By exposing yourself to new ideas, you can get the creative juices flowing again.
The joy is gone.
If you’re feeling burned out and like your work isn’t providing you with any joy, it might be time for a change. Owning a business is hard work, but it should also be enjoyable. When the workday begins with dread or boredom, it’s probably time to find a new challenge.
You are simply exhausted.
A business that is growing will create increased demands of time and energy. However, there are ways to cope with this burn-out. First, take a step back and assess your current situation. Are you working too many hours? Are you struggling to say no to new opportunities? Identify the areas in which you need to make changes, and then make a plan to do so. Second, make sure that you’re taking time for yourself. This means taking breaks during the day, going on vacations, and spending time with friends and family. Finally, reach out for help.
It’s common for business owners to feel this way, as the day-to-day grind of keeping a business afloat is often challenging. However, it’s important to remember that no matter your business’s status, making a change is always an option. If you’re feeling overwhelmed and are considering a change, know that you’re not alone. Statistics show that few people can maintain this type of schedule on a long-term basis. However, don’t let that discourage you – there are options out there for you. Talk to other business owners who have been in your position and see what steps they took to make a change. Don’t be afraid to reach out for help.