Fed Up !

[Carpetman]

Hi folks,

I dont mean this post to be depressing or negative and I'm certainly not looking for any sympathy but I would like to know if it is just me that feels like this at the moment.

When I started out on my own many years ago my main motives were simple - first and foremost to be my own boss with all the perks that go with that and hopefully to earn a decent profit that would benefit my family and I. To begin with I started small and my main ambitions were being realised however business started to grow and gradually so did everything else - premisis, vehicles, employees, overdrafts !!!

Now after many years of hard work and despite being busy I have almost had enough. I no longer feel that I am my own boss - customers and employees seem to dictate when I work. We are extremely busy but cashflow is almost always an issue, employees and suppliers get paid before I do. Basically I want to pull everything back in and go back to how it was - Me, my van and my work !

Is it possible to drastically downsize a business without damaging your image and losing face or being seen as a failure ?

Thank you for reading and any opinions welcome !

 

[rendy]

Why not sell the business as a whole, and then re-start again as a one man band?

 

[Carpetman]

Thanks for your reply, but that is not an option for me for various reasons.


Besides, its the type of business that is worth very little without me being in it ! It relies very much on my skill as a tradesman.

 

[businessfunding]

If it helps, I can absolutely assure you that you are not alone.

People and cash-management are almost certainly the most demanding & stressful facets of any business so unless these are challenges you actually enjoy it is probably best to keep them to a minimum.

Many people downsize for exactly this reason (conversation last week with a groundworker ' it's great, I've got 2 staff and 2 vans - life is so much easier')

With regards to reputation, the main thing is to honour contracts and not let customers down.

Some possibilities:

- As above, sell-up and re-start
- Sell certain facets of the business keeping those that you want to continue
- Offer staff the opportunity to set up on their own and 'sell' some contracts to them (take advice from an employment lawyer!)
- Do what you suggested and downsize!

Hope it works out

Mark

 

[Richard Glynn]

I'm reading a great book at the moment called Poke the Box by Seth Godin. You might find it useful. He touches on how we become slaves to employers, customers and employees.

It's sometimes a difficult question to answer, but ... what do you really want to do? What is your skill? What really gives you a buzz in life.

If you do decide to make a break, perhaps it's an opportunity to have a fresh start at something that will really get your juices flowing.

If your passionate enough about something you'll have more chance of success.

Anyway, you're not alone. Most of us have thought what you're thinking. You've not just turned 40/50 by any chance have you?!

Good luck.

 

[rendy]

Lots of companies downsize because they want to cherry pick the jobs they take on, so there is no loss of face in wanting to work on a smaller scale - I personally would see that as you have succeeded as a bigger business but want to enjoy working, on a more 1to1 basis.. so go for it.

I guess you'd need to start slowing incoming jobs down, turning business away, while you scale back your operations. If you have any permanent employees it might become tricky to do this, but if you only employ contractors then they are fine to let go when you want to.

Is there any local competitors who you can charge a fee to for redirecting work to while you are downsizing?

 

[Carpetman]

I'm reading a great book at the moment called Poke the Box by Seth Godin. You might find it useful. He touches on how we become slaves to employers, customers and employees.

It's sometimes a difficult question to answer, but ... what do you really want to do? What is your skill? What really gives you a buzz in life.

If you do decide to make a break, perhaps it's an opportunity to have a fresh start at something that will really get your juices flowing.

If your passionate enough about something you'll have more chance of success.

Anyway, you're not alone. Most of us have thought what you're thinking. You've not just turned 40/50 by any chance have you?!

Good luck.

I may have just turned one of those ages you mention. I still enjoy the actual work I do, its a skilled trade, not many people do it and I get great satisfaction from my finished work - I dont want to do anything else but I do want to cut back on all the other shenanigans ! I have tried various things over the years to try and ease the pressure - one of which has made things considerably worse !

 

[Ashley_Price]

With regards to the finance, have a chat with your accountant. It may cost you a bit more money, but get them to really go through your figures and see if there is a "black hole" that money is disappearing into; or it's simply you don't have enough customers. They can pick up things you aren't necessarily aware of because you're busy with running the business.

I went through a similar phase, so in the end said the same to our accountant, he said everything was okay in the business, we just needed to get more clients.

As for the employees and customers dictating when you work, then you need to move away from working in the business, so you can work on the business. Can you not train one of your staff to take on more of the jobs you do, so that frees up more time to work on areas you want to?

For example, I have a full time member of staff who can replace me in the office. This means I can go out, have meetings, network, have a day off, etc., and know the the place will not grind to a halt.

 

[business123]

Get this book: http://www.amazon.co.uk/-myth-Revis...7280/ref=sr_1_1?ie=UTF8&qid=1307453644&sr=8-1 it will be worth every penny and make you look at your business in a different way.

 

[MrsF]

Being a boss is a very stressful job! and you are unlikely to get any thanks for helping provide jobs, the way the small businesses are hide bound by rules and reguations that only seem to apply to the smaller businesses and are taxed to death also makes me wonder why we bother too.

It doesn't help when the media are always banging on about the recession constantly hearing negative comments doesn't help anybody to be cheerful

Are you sure you couldn't sell up and start afresh? it might be as difficult & aggravating as keeping on with what you are doing but if it makes you happier in the long run I'd be tempted to do it.

 

[David198]

Hi folks,

I dont mean this post to be depressing or negative and I'm certainly not looking for any sympathy but I would like to know if it is just me that feels like this at the moment.

When I started out on my own many years ago my main motives were simple - first and foremost to be my own boss with all the perks that go with that and hopefully to earn a decent profit that would benefit my family and I. To begin with I started small and my main ambitions were being realised however business started to grow and gradually so did everything else - premisis, vehicles, employees, overdrafts !!!

Now after many years of hard work and despite being busy I have almost had enough. I no longer feel that I am my own boss - customers and employees seem to dictate when I work. We are extremely busy but cashflow is almost always an issue, employees and suppliers get paid before I do. Basically I want to pull everything back in and go back to how it was - Me, my van and my work !
Is it possible to drastically downsize a business without damaging your image and losing face or being seen as a failure ?

Thank you for reading and any opinions welcome !

Had samething similar with me as well when I went on my own. Now I've to obey clients.

At the end you rely on someone to make money until and unless you find out how to grow money on the trees in your backyard

Customers, clients, buyers .. someone is going to be there and the rule is the buyer dictates.

Another option is to do something like Bill Gates did and then no one else will dictate you.

 

[Carpetman]

Thank you all for your replies,

I don't know what the answer is, what I do know is that with increasing costs and overheads things are not going to get easier anytime soon unless I take some sort of action.

I'm just going through one of those spells which I'm sure we all have when everything seems to be working against me.

I had £ 7 and 10p in change in my pocket , as I parked outside my house at lunchtime I met the window cleaner coming down the drive, 'Thats a stroke of luck bumping into you' he said cheerfully, he held his hand out and said 'That'll be £ 7 please'

I'm sure you get the picture !

 

[sean.browne]

+1 for Michael Gerbers book, the emyth [revisted]

If you don't read, start now. Get it, Read it!

It will help you a lot.

 

[KateCB]

I fully empathise; I did exactly the same with my main business, so, I have sold the building I bought, sadly made employees redundant, moved the whole thing back home to where it all started, informed my long term customers that I either support a building and staff and vehicles and eventually go bankrupt like many of my competitors have in the last 18 months, or I downsize and survive...

The results have been amazing - no overdraft, no having to oversee others, no stress of peronality conflicts, employee red tape and rules, business rates, massive insurance bills, alarm contracts, fire lighting contracts, apoligising for other people not doing what they said they would do and my customers have supported me all the way.

It can work, it has for me. It is a matter of personal pride, and it hurts, but the benefits are well worth it. I too have had massive stress from trying to be everything to everyone, cashflow was always tight, now I can breathe, I don't NEED so many customers that I need to help to service their needs, I can happily service them with just me and a family member helping out...less stress, more money and more than enough to keep me occupied and above all, happy.

Good luck, don't despair -downsize to survive, financially, physically and emotionally!

 

[Carpetman]

Thanks, having quickly read a couple of the reviews it sounds like it is worth a look.

cheers

 

[Carpetman]

I fully empathise; I did exactly the same with my main business, so, I have sold the building I bought, sadly made employees redundant, moved the whole thing back home to where it all started, informed my long term customers that I either support a building and staff and vehicles and eventually go bankrupt like many of my competitors have in the last 18 months, or I downsize and survive...

The results have been amazing - no overdraft, no having to oversee others, no stress of peronality conflicts, employee red tape and rules, business rates, massive insurance bills, alarm contracts, fire lighting contracts, apoligising for other people not doing what they said they would do and my customers have supported me all the way.

It can work, it has for me. It is a matter of personal pride, and it hurts, but the benefits are well worth it. I too have had massive stress from trying to be everything to everyone, cashflow was always tight, now I can breathe, I don't NEED so many customers that I need to help to service their needs, I can happily service them with just me and a family member helping out...less stress, more money and more than enough to keep me occupied and above all, happy.

Good luck, don't despair -downsize to survive, financially, physically and emotionally!

Thank you so much for this post ! You have described almost exactly the dilemma I'm in ! I particulary like your comment on 'apologising' !

I could also work from home, i did it in the beginning but was overtaken by demand and the urge to 'grow a business' which has ultimately led to me lining others pockets before mine !

Thank you once again Kate, you have been so helpful !

 

[An Oasis]

I don't know if there are niches in your industry but if there it might be worth taking a punt, you will not regret it. Specialising in an area means less competition and if you can work at the upper end the enjoyment factor means that working is not really working.

In my field we currently turn down more work than we take on and bar the odd client most are great people to do business with.

 

[David198]

IGood luck, don't despair -downsize to survive, financially, physically and emotionally!

And when your luck, hard work etc run out or may be another recession and then wait for HMRC to get you

 

[Carpetman]

And when your luck, hard work etc run out or may be another recession and then wait for HMRC to get you

Not sure I understand this comment ?

 

[David198]

Not sure I understand this comment ?

http://www.ukbusinessforums.co.uk/forums/showthread.php?t=210613

 

[Carpetman]

http://www.ukbusinessforums.co.uk/forums/showthread.php?t=210613

Ah ! Sorry Pal !

 

[oldmanriver]

Hi folks,

I dont mean this post to be depressing or negative and I'm certainly not looking for any sympathy but I would like to know if it is just me that feels like this at the moment.

When I started out on my own many years ago my main motives were simple - first and foremost to be my own boss with all the perks that go with that and hopefully to earn a decent profit that would benefit my family and I. To begin with I started small and my main ambitions were being realised however business started to grow and gradually so did everything else - premisis, vehicles, employees, overdrafts !!!

Now after many years of hard work and despite being busy I have almost had enough. I no longer feel that I am my own boss - customers and employees seem to dictate when I work. We are extremely busy but cashflow is almost always an issue, employees and suppliers get paid before I do. Basically I want to pull everything back in and go back to how it was - Me, my van and my work !

Is it possible to drastically downsize a business without damaging your image and losing face or being seen as a failure ?

Thank you for reading and any opinions welcome !

Bring in some people to run it for you? Take a small wage and out source as much as you can afford to, leaving yourself with more time to do with as you please.

 

[KateCB]

And when your luck, hard work etc run out or may be another recession and then wait for HMRC to get you

No I must admit I didn't understand the comment either initially, however looking back to that post (I am so sorry it happened to you David) I have to say that if you watch what you are doing carefully, then the 'luck' shouldn't run out - no disrespect David, but we all let things get out of hand which lands us in trouble - the trick is NOT to let things get out of hand - easier said than done at times though!

My aim now is NOT to over stock, NOT to take an overdraft (which I don't need as I don't stock 10% of what I used to) and working from home with just family, I don't have the overheads - if I am late with my rent for the space I'm using at home I can tell myself off.....

 

[TimeAssistant]

I read your post and I can relate to things sometimes mounting up, and you are always chasing your tail.

Sorry for the sales pitch, however have you ever thought about outsourcing your work. For example our company Time Assistant can provide admin support, call answering and also bookkeeping, meaning you have a small team of staff working for you, keeping on top of the day to day tasks, while you get back to growing your business, and doing what you do best.

It is never too late to late to restructure, and get the enjoyment back out of your business.

 

[missdetermination]

Take back your business and get rid of the hassle...isnt that why most of us started in the first place? Do it how and when we want...we call the shots?

I have been lucky for the past 4 years things have been comfy, enjoyable (some may say a lifestyle business, but my customers and I were happy). Some where in the last 18 months I decided to think bigger, unit, staff, larger marketing budgets, out grow the competitors...its hard and i'm not sure how long I want to sustain the extra hassle (By this I mean ask me again in 10 years ). I guess at some point I will be back here writing a similar post to you...and I hope the reply is, down size/pull back what ever you want to call it, get rid of the hassle, start enjoying calling the shots, and as long as you can cover your bills dont worry about not getting more grey hairs

 

[Matt1959]

I think there comes a point with a business whereby you stand back and evaluate what you're getting from it. Given most people go into a business to make money, if the business despite best efforts doesnt produce the returns you were hoping for and realistically won't then maybe its good to look for another benefit - like freedom to do what you want when you want - walk the dog on a sunny morning, spend a bit more time with the missus or kids and generally enjoy the freedom that working for your self brings. Scaling a business back although limiting the ability to make money can introduce more free time and less pressure/ stress - sometimes money aint everything!! As for loss of face/ pride, this shouldnt even come into it....

 

[maxine]

At least you have recognised it! I reckon some people must run around as busy fools for years and years before they realise

It's so easy to end up in a situation where the focus on profit goes out of the window and instead just meet everyone's demands and keep everyone happy.

I went through a bit of a phase myself where I grew my telemarketing business very quickly. Within a few months of starting up I ended up with about 4 employed staff and about 10 subcontractors. However it was all a load of nonsense when I look back on it as my profit per effort was nowhere near what it was when I first started.

I had to take a bit of time out about a year ago to support family and as it turned out it gave me the opportunity to just calm down a bit, focus on profitable work, get more efficient processes etc in place.

Now I am recruiting again but I am in a much better mindset than I was even 6 months ago and have got my mojo back

oh and another vote for e-myth ... excellent examples and great way to look at things as running a business and not earning a wage.

 

[luvbusiness]

Some people have suggested sell business and restart.Not sure how easy that would be as I,m sure if you were to sell the business to someone else they might want some sort of agreement that you dont start up as competition in the immediate vicinity.

 

[Carpetman]

Some people have suggested sell business and restart.Not sure how easy that would be as I,m sure if you were to sell the business to someone else they might want some sort of agreement that you dont start up as competition in the immediate vicinity.

Yes , that is one reason I could not sell my business. As I have said the other reason is that without me there is no business unless someone with the exact same skills as me came along. In any case I don't want to sell !

 

[Emcar Vending]

I'd go for the downsize option too.

I did it a few years ago and never regretted it. Had seven vans on the road, eight staff and nothing but hassle, aggravation and cashflow worries.

Now there's just myself and my wife, No hassle no debt. I'm not making quite as much money as before, but my lifestyle is great!