Old National Bancorp

07/31/2024 | Press release | Distributed by Public on 07/31/2024 21:43

What to Do When You're Tired of Running Your Own Business

Every business owner has been there. That moment when you're completely fed up with your business, and have had enough of the client complaints, technical difficulties, and whatever else has come your way. So instead of blowing your stack, what would be a better way to handle feeling frustrated and overwhelmed? Here are a few tips and tactics for coping.

What's one thing an entrepreneur should do when they're completely tired of running their own business?

1. Listen to yourself

Remember the entrepreneurial dream: freedom, flexibility, building your empire? Now, you're drowning in emails, the "boss" (you) piling on pressure. Your business, once a passion project, feels like a gilded cage. Countless entrepreneurs face this. Here's how to break free: listen to yourself. The decision is yours. Can a break refresh? Explore delegation or automation. But if the business is no longer fueling your fire, don't be afraid to consider an exit. Your business exists to serve you, not the other way around. Take control, recharge, and rediscover your passion, or move on to something new. -Joe Beccalori, Interact Marketing

2. Consider the underlying reasons

An important step to take when feeling completely fed up with running your own business is to consider the underlying reasons for your frustration. Reflect on whether it's the day-to-day operations, the overall direction of the business, or personal factors that are contributing to your dissatisfaction. This introspection can help you identify potential solutions or changes that could improve your situation. Additionally, seeking feedback from employees, customers, or trusted advisors can provide valuable insights and perspectives that may not be apparent to you. By addressing the root causes of your frustration, you can make more informed decisions about the future of your business. -Josh Kohlbach, Wholesale Suite

3. Let the team take the reins

Are you constantly hovering over your team, checking every detail, and neglecting tasks only you can handle? It's time to stop. I used to keep my hands in tasks my team had already mastered, which not only slowed them down, but also caused me to fall behind on critical projects, like forming key partnerships. This left me feeling burned out and exhausted. By trusting my team to handle their responsibilities, I created space for both myself and my team to thrive. This helped bring back the joy in running the business-the biggest joy of which is time. -Givona Sandiford, Melospeech Inc.

4. Reassess your priorities

When things feel like they're not working out, every strategy is hitting a dead end, and you're getting burned out, it's time to take a step back. The best decision you can make in this situation is often no decision-it's time to reassess priorities. Take a short break from the day-to-day, decision-making, and problem-solving and do something that feels like a break. Some time away will help you gain a new perspective, or put things into perspective, so you can better focus and make key decisions.

You'll be able to be more honest about the situation and decide if the workload and stress is the issue, or if it's something greater like a loss of passion for your business. Once you pinpoint the source, you can make changes that improve processes, streamline operations, improve work-life balance, whatever the issue might be. In summary, take a step back, assess, and then strategize. -Blair Thomas, eMerchantBroker

5. Turn to mentors or peer advisory groups

Seeking external perspectives through mentorship or peer advisory groups can turn your frustration into actionable insights. When you're caught up in the daily grind of running a business, it's easy for your judgment to get clouded and your creativity to stall. But by connecting with a community that understands these challenges, you can spark new ideas, get the support you need, and stay accountable. Sharing your experiences can also help you discover common pitfalls or innovative solutions you may not have thought of. It's a great way to remind yourself that you're not alone on this entrepreneurial journey, which can really reignite your passion and perspective. -Syed Balkhi, WPBeginner

6. Step away for a short period

When you're completely fed up with running your own business, one of the most effective things you can do is take a step back and give yourself a break. It might seem counterintuitive, but sometimes the best way to gain clarity and recharge your passion is to temporarily disconnect. I've faced moments of burnout while growing my business.

During those times, I found it incredibly helpful to step away, even if just for a short period. Whether it's a vacation, a weekend getaway, or simply taking a few days off to focus on personal interests and self-care, this break allows you to reset mentally and emotionally. During this time, avoid thinking about the business. Engage in activities that bring you joy and relaxation. When you return, you'll often find that you have a fresh perspective and renewed energy to tackle all types of challenges. -Michelle Aran, Velvet Caviar

7. Ask for help and delegate

When you're deep in the weeds and feel spread too thin, it's time to ask for help. I read a phenomenal book by Ari Meisel calledThe Art of Less Doingwhich is all about learning to delegate efficiently, and that was a massive game changer. One of the best takeaways that Meisel preaches is that you should write down the top activities you do on a regular basis for your company, and every year take 70% of those off your plate completely and delegate them to the next person down. If your entire team does this, everyone learns a new skill and can move forward. At the very bottom, using automation and AI are great for smaller tasks that people shouldn't be doing in the first place. I love this method of work! -Rachel Beider, PRESS Modern Massage

8. Reconnect with your vision

When you're completely fed up with running your own business, it's essential to pause and reconnect with your original vision. Sometimes, the daily grind makes you lose sight of why you started in the first place. Reflect on what aspects of the business still excite you and what drains your energy, and consider delegating or outsourcing tasks that you find particularly stressful.

I've found immense value in joining a peer advisory group. Sharing my struggles and getting advice from fellow entrepreneurs gave me new perspectives and practical solutions. It's also crucial to schedule regular breaks and engage in activities that rejuvenate you. Remember, your well-being is vital to the success of your business. Taking care of yourself isn't just good for you; it's good for your company too. -Samuel Thimothy, OneIMS - Integrated Marketing Solutions

Connect with an Old National Small Business Bankerfor more insights to help your business grow.

This article was written by AllBusiness fromForbesand was legally licensed through theDiveMarketplaceby Industry Dive. Please direct all licensing questions to[email protected].