How to Know When It’s Time to Quit Your Business

Expected or a surprise, we all come to points in our lives where we find ourselves at a crossroad.

And we have to make a decision yet we’re utterly confused.

Heck, we’re not sure how to even respond.

Major events like getting engaged, getting married, having children, moving to another city, switching industries and starting a business really change the course of our lives.

And mind you, we’re scared like nobody’s business. I feel like I’ve spoken about a variety of business-related topics here on the blog. However, today feels different.

Instead of my usual #WellnessWednesday post, I’m going to talk about a subject we, as entrepreneurs don’t really talk about: how to know when it’s time to quit your business.

Maybe it’s because we don’t want to look like we failed or that we didn’t try hard enough, but I feel like I have to address this topic. So, if you’ve been thinking about quitting your business, keep reading.

What happens before you think about quitting your business?

• You start to do less and less daily tasks. You begin to feel repelled at the thought of sending an email, posting on social media or even hosting/attending a conference call. And this just isn’t the Monday blues.
• Your motivation dies a little, but not enough for you to be aware yet.
• You start to entertain the idea of quitting your business.
• You start to skip a few business-related calls and events here and there.
• Taking a “break from the biz” becomes increasingly appealing.

What happens while you contemplate on quitting?

• You take an unintentional break to find your inspiration again and it ends up being more intentional and longer than you expected.
• Your thoughts begin. “Do I quit, do I not quit?” “Should I, shouldn’t I?”
• You think of all the time and money you’ve invested in over the years and just want to throw up because “Could it all have been a waste this entire time?”
• You begin to take some business-related tasks and events off your calendar and the side project you’ve been thinking about doing for years is no longer scary and you start taking action steps.
• Your thoughts start veering towards seeking/praying for clarity.

How do you know when it’s time to quit your business?

• After taking a good break from your business (I’m talking six months to years kind of time frame) and you still don’t want to come back.
• When your family/friends not only tell you their thoughts, but it’s how they tell you, “I can hear it in your voice. You’re so excited/not excited about this.”
• When you’re no longer passionate about selling your product/service even if you love said product/service.
• You’ve been waking up with anxiety for a long period of time. And this just isn’t a I’m-having-a-bad-day kind of anxiety either.
• When you’ve checked out. Even if you don’t want to confront it, the fire is dead and you know it. And yes, you still feel guilty.

What next?

• Take time for yourself and reflect. Hard.
• Don’t dive into another business opportunity right away unless you had a side thing going on this entire time you’ve been thinking about quitting your biz.
• Enjoy the little things in life again like going out with your family and friends, volunteering, going to the movies, traveling, etc. to reboot your mind and spirit.
• Even if you feel guilty, remember how much you’ve grown and evolved as a person and entrepreneur/leader. Put some time aside to be in a gratitude state of mind for the relationships you’ve built and believe that nothing was a waste.
• Write down things/experiences you really want and be painstakingly honest with yourself even if it’s scary big. Ask yourself, “What do I want out of life?” and answer truthfully

A lot has happened within the last two years, but especially within the last six months. I’m writing this blog post today because I have to be brutally honest with myself. I have to face the music and be okay with what Dr. Henry Cloud said, “Even good things have their own seasons.” and close such a good chapter of my life. The deal with me is that, I’m okay with closing chapters of my life because who says I can’t reopen them? Why am I saying this? Because here’s the deal: If God wants this chapter to stay closed, He’ll keep it closed no matter how hard I try to reopen it.

Tell me, did you ever know when it was time to quit your business? What happened? How did you feel? 

I hope my personal experience resonates with you in some way and that you find your way.

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