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What to Do When You Want to “Burn Down” (aka Quit) Your Business (Part 2)

What to Do When You Want to “Burn Down” (aka Quit) Your Business (Part 2)

If you’re an entrepreneur for long enough, you’ll likely feel like you want to quit every now and then. Or even consider burning down your business a time or two.

That’s normal. Pretty much every successful entrepreneur I know has fantasized about leaving his or her business, and running off to live in a grass hut on a beach somewhere.

But, that doesn’t mean you should actually do it.

In fact, I would argue that most of the time when you get that “I QUIT” feeling, there’s really something else going on.

And, if you can get to the heart of what “I quit” is REALLY telling you, you can turn around more than your business.

You can turn around your life.

So, let’s dive into a few possible reasons behind that “burn it down” feeling. (Note—this isn’t meant to be a complete list. You may have something going on I don’t list here, and that’s perfect. This is just meant to help you shift your perspective a bit.)

• Are you exhausted and/or overwhelmed? I know when I get overwhelmed, I just want to run away. But, the more effective response is to take a look at why you’re feeling exhausted and/or overwhelmed, and fix that.

Maybe you need to get more help? And, yes, that may mean hiring a team member or two in your business, but it may also mean hiring a housekeeper or a personal assistant or a nanny. Or it could mean having a heart-to-heart with your spouse, partner, and/or older children, and enlisting their help around the house.

Or maybe you just need to let some things go. Maybe you cut back on volunteer or community service hours, or maybe you let go of the idea that you absolutely must have a super-clean house. Or maybe there’s a business project or a task on your to-do list that hasn’t gotten done for a while now, and just needs to be deleted.

Basically, if this is you, I would encourage you to take a good, long look at your business and your life and see what you can do to restructure or delegate or delete the tasks that are overwhelming you.

• Are you bored? A lot of creative entrepreneurs confuse boredom with the desire to burn things down. They’re bored, so therefore “It’s not working anymore,” and they need to go do something else.

But, before you start burning things down, see if there’s a way you can restructure your business so you’re not stuck doing the things that are boring you, and that will give you the space and energy to pursue new challenges that excite you.

• Are you feeling entitled? No, this doesn’t only apply to Millennials. If you find yourself thinking things like “This really should be easier,” or “I should be further along by now,” or “Why do I have to do this?” or “Why is so-and-so more famous and successful than me?” you may be suffering from a case of entitlement.

If this is you, you may want to consider volunteering or spending time with people who have bigger challenges than you have. That’s typically a good way to reset your mind, and realize how blessed you actually are.

• Do you have the wrong business model? If you are a one-on-one business coach and you’re built for group programs, you’re likely going to eventually resent your business.

If you find yourself in this place, a smarter move may be to restructure your business model into one that better suits you. A great place to start is with my free book: How to Start a Business You Love AND That Loves You Back.

Another variation of this concept has to do with what Gay Hendricks calls your “Zone of Excellence” versus your “Zone of Genius.” Around which have you built your business? If you’re in your Zone of Excellence, yes, you’re doing work you like and are good at. But you also may know deep down that there’s something not quite right. And, after a while, that may start to suck the life out of you.

• Did you think the money would make everything else worth it? I’ve known a number of successful entrepreneurs who have built businesses they didn’t love (or even much like), but who are making really good money.

They did it because they assumed the money would make everything else worth it.

So, imagine their dismay when they realize that isn’t the case.

If you’re building something simply for the money, there’s a chance you may wake up one morning and flat out decide you’re done, because the money isn’t worth it. If this is you, you may want to start evaluating now, to see how you can tweak what you’re doing so it’s more in line with your purpose and/or passion.

• Are you in a wormhole? My friend, Juicy Marketing Expert Lisa Cherney, used to talk about being in the wormhole, which basically represents the “breakdown” before the “breakthrough.” It’s really common for entrepreneurs to get derailed, or fall down into a pit, while on their entrepreneurial journey. But sometimes, your darkest times occur right before your biggest breakthroughs.

If you find yourself here, self-development tools such as meditation or journaling or coaching may help. You can also check out my “Love-Based Money and Mindset” book for more tools and exercises that can help you manage your mindset, and guide your breakthrough.

• Have you been neglecting your self-care? If so, then it’s no wonder you’re feeling worn down and ready to quit. Even if you feel like you can’t take the time, you may have no choice but to take a few days (or even longer) off, and make some time for yourself.

• Do you have a pattern of walking away? If this is a common pattern of yours—to walk away or quit—this may be a golden opportunity to stay in the game … to NOT let yourself quit. In fact, it could be the beginning of the breakthrough you’ve been looking for.

Now, this is not to say you should never quit. There are absolutely times when quitting is the smartest option. But, before you do quit, it may be smart to make sure that truly is the best option for you.

If you want to dig into this topic more deeply, you may want to check out my “Love-Based Money and Mindset” book.

 

Feel Like “Burning Down” Your Business? Read This. (Part 1)

Feel Like “Burning Down” Your Business? Read This. (Part 1)

Recently, a famous entrepreneur in the transformation industry apparently advised a room full of beginning and “wanna-be” entrepreneurs that one of the secrets to business success is to “burn it all down.”

I wasn’t personally in the room, but even if it didn’t happen precisely the way it was described to me, there are a few good teaching points I think are worth talking about.

1. There is a time and place to share your most vulnerable story—and that time is NOT when the walls are crashing down on you.

Look, being an entrepreneur is really, really tough. It’s going to trigger you. It’s going to push your buttons. You’re going to fail. You’re going to fall down.

Some of those falls are going to be harder and more painful than others.

And, sometimes, the pit you find yourself in is so deep and so dark, the only possible way out you can see is to burn everything down.

I get it. Every single successful entrepreneur I know has contemplated burning it all down at some point, and a good many of them actually have (or did a pretty significant pivot).

As you can imagine, being in this place can wreak havoc on your emotions, which is why if you talk about it when you’re in the middle of it, you run the risk of sounding massively-entitled, ego-driven, and self-serving.

(And, let’s be honest—you likely sound massively-entitled, ego-driven, and self-serving because in that moment, you ARE. And it’s okay. It’s normal. You’re in a tremendously difficult time. Be gentle with yourself.)

The time to share is AFTER. After you’ve done the work, felt the feelings, and actually have some sort of positive resolution to share.

If you don’t have a positive resolution yet, that likely means it’s not time to share.

2. There’s more than one way to “burn it down.”

Some entrepreneurs are able to use their current business as fuel for a new one. Some simply burn it down and walk away. Some even take others down with them.

In the heat of the moment, you may decide you don’t care what happens to anyone else–you just want out. I get it. But, again, before you destroy what you worked so hard to build, I’d encourage you to take a moment and consider how it will affect others, such as:

• Your team. They’re depending on you financially. Are you still paying them like you promised? Are you able to bring them with you, if you begin traveling a new path? And, if not, are you giving them enough of a heads up, so they can find other arrangements?

• Your clients. They’re depending on you, too. Are you leaving them in a lurch, or are you honoring your commitment to them?

• Your past clients, customers, and buyers (and really anyone who believed in your message, teaching, and training). Are you now telling them everything you taught was a sham? Or are you still standing behind the essence of your message (as it may just be changing form)?

• Your commitments. Are you honoring your commitments and doing what you can to gracefully transition, or are you simply walking away, promises be damned? (Note—this includes promises you’ve made to yourself, as well as to others.)

It may be you’re at a point where you simply don’t care anymore. But if you do, I highly encourage you to take a moment to pause and breathe and think about what you’re doing.

Like I said earlier, there are lots of ways to burn down your business, and how you do it says a lot about your character.

3. If you find yourself trapped in a pit, there is likely a deeper reason.

You typically don’t get stuck in pits unless something else is going on.

For instance, you may have heard the saying “breakdown to breakthrough”—in many cases, the deeper and darker the pit, the bigger the breakthrough. Or maybe the pit is supposed to be showing you something else … something that’s not even related to your business.

In fact, a lot of times, even if you feel like burning down your business, that actually isn’t the right solution.

In Part 2, I dug into some other deeper issues that may be lurking underneath your desire to burn it all down.

And, if you’d like to dig into more mindset issues that may be holding you back from the business success you’re dreaming about, check out my “Love-Based Money and Mindset” book. You can grab your copy here.