Dear Aunty B,
I have been running my business for 17 years. It is a great business with terrific people. But during the last few months it has become obvious to me that I just don’t feel the passion to see me through the next year.
I am not burnt out. I just feel like another challenge.
My concern is this: Should I sell the business or move to a different role where I do less of the day-to-day?
Have you also lost your mind? Of course you feel a distinct lack of passion. It’s winter down there in Melbourne and we’re smack bang in the middle of a downturn.
Look, you are not ready to sell. Why? Because you are also considering a move to a different role. And that’s a good thing. There is no one better to see your company through these difficult times than you, the founder, who, I note, started the business at the end of the last recession. You know what hard times are like.
The belt tightening that is needed, the focus on cash flow, the changes to marketing and strategyn – this is your big challenge. To see further out and position your company for the future. You should definitely plan to move to a more strategic role. But this takes time as you have to ensure the management team has the skills to steer you through the next year.
My advice to you is do something outrageous. Right now. Book a three week holiday to somewhere hot and don’t think about work for the first 10 days. Or go on a fact finding tour around the world looking at how your industry is changing (though the first 10 day rule of no thoughts of work remains).
My bet is you will come back refreshed with new ideas and full of the challenge ahead.