Burnout is an often-used reason for an owner selling a business. Potential buyers may have trouble accepting this as a valid reason for sale. However, burnout is a legitimate reason for exiting one’s business.
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:
You are overwhelmed on a daily basis.
When a business owner carries most of the responsibility for the company, 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.
You sense a failure of imagination.
Burned-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 increasing profits.