Burnout is an Ever-Present Threat
A business owner can experience burnout even with a business that's successful and growing. Many independent business owners feel they've worked hard, made their money, and now is a good time to cash out and move on, before burnout endangers the health of the business. The following warning signs should remind a business owner that cashing out beats burning out:
Overwhelmed on a daily basis
When a business owner is a one-man show, even small tasks and minor decisions seem bigger than Everest. These owners have been shouldering the burden alone for too long, and the isolation has taken its toll.
Failure of imagination
Burnt-out owners are so close to their work that they lose perspective. Prioritizing becomes a major daily challenge, and problem-solving sometimes goes no further than the application of business band-aids that cost money in the long run rather than increase profits.
The joy is gone
Although owning a business is hard work, it should also provide a good measure of enjoyment. When the work day begins with dread or boredom, the owner probably needs a change of scene and a new challenge.
Simple exhaustion
Being "just too tired" is a complaint heard just as often from the owner of the successful business as from the business that's struggling to survive. In fact, a business that is growing will create increased demands of time and energy. No matter what the status of the operation, the sheer work of keeping a business going day after day, year after year takes its toll over time. This kind of schedule is not for everyone; in fact, statistics show that it's hardly for anyone on a long-term basis.
Burnout and its resulting consequences can weaken the strength of the sale. The time to sell is before burnout takes its toll.
