Running an online business can be wonderfully rewarding. It gives you the freedom to work when and where you want and, hopefully, the financial stability to meet your current needs and also plan a little for the future.
However, there will come a time when you desire change. But it’s always hard to know if now is the right moment to make a life-altering decision. It’s difficult to tell the difference between true stagnation and simple frustration or anxiety.
Consider these top five reasons for selling your business now to help you figure out if the moment has arrived for you to cash out and move on.
You No Longer Enjoy Running It
This one should go without saying, but so many people don’t consider this reason to be as important as it really is. Without being too morbid, we can never forget our time on Earth is limited, and that it can be taken from us at any moment.
There will always be things we enjoy doing more than others, but it’s our responsibility to weed out those things we don’t like and replace them with what we love. Your work is no different.
Ask yourself if you really enjoy running your online business. Do you still feel that same challenge pushing you forward? Or do you feel overcome with dread and anger every time you sit down at your computer? If you identify more with option two, then it’s time to move on. Simple as that.
“But what about the money?” a lot of people will say.
No amount of money is worth your happiness and well-being, so if you can’t approach your business with joy and gratitude, then cash out and begin looking for something else.
You’ve Got Other Projects To Work On
Hopefully, you’ve figured out by now that one of the great secrets of success is focusing on one thing at a time (and if you haven’t, well, you’re welcome). This isn’t to say that you can only do one thing, but it does mean you need to be realistic about what you can and can’t do at this current moment.
There’s a good chance your online business was once a side hustle, and there’s an even better chance that it didn’t become something more until you decided to treat it as your top priority.
So if you’ve found other projects you enjoy working on but don’t get the attention they deserve because of your online business, then it’s time to move on. And since you don’t want to ignore your company and wait for it to die, you can sell it and use the money to get you going on your next venture.
It’s Taking You Away From What Matters
Family needs to come first. To be happy and well, you need to make sure you’re spending enough time with those who mean the most to you. If your online business is preventing this from happening, you need to make a change.
It’s true that there’s never enough time. But work shouldn’t ever be the top priority. Even when you’re making good money, if you find yourself reaching the end of the day wishing you’d spent more time with your kids, partner or friends, there’s a good chance you’re working too hard.