Before I Reset my Business... Who Will it Impact?
The final question we need to ask ourselves before we reset our business, is whether or not we can make such a decision without impacting someone else.
Let’s say we answered question #1 (Am I Still Interested in My Field?) and question #2 (Am I Lacking Income or Purpose?) and we have come to the conclusion that, yes, we do need to a change of scenery so to speak.
Let’s say we have decided that it’s time to start that Blog with Great Tips on Illinois Largemouth Bass Fishing we’ve always dreamed about, and we have enough money in the bank to make this leap of faith responsibly.
Well… off to the races… right? Time to go fish!
Right?
Nope - not so fast - we have one more question to ask:
Do I have a husband, wife, children, a business partner, a pet or other dependent(s) that will be impacted by my decision? Or, am I flying solo?
In either case there are a few important points to consider:
If you have someone dependent on you, you need to look at the situation through their eyes before you come to a final decision. If they are directly impacted, you need to have a discussion with them.
This does NOT mean that you need to let the other party make the decision for you. If you have come to the conclusion that it’s time for a change, then it’s time for a change. However, before you quit your job, you need to make sure you can do so responsibly.
Do you have enough in savings to cover your expenses while you start your new project?
Do you have a fallback plan in case things don’t work as expected? (Spare me the “no backup plan, no safety net, it’s do or die, son!” hyperbole - when you have others you are responsible for, a mindset like that is simply irresponsible.)
Go to the other party with a plan in hand, and be prepared to explain how you came to the conclusion that you need a change, and how you plan to do so as carefully as possible.
Discuss.
If they have serious reservations, perhaps the two of you can work up a compromise that is more comfortable. (Remember: a good negotiation is one where everyone leaves the table just a bit unhappy.)
On the other end of the spectrum, if you are flying solo… well… you need to ask many of the exact same questions!
Do you have enough in savings to cover expenses while you start your new project?
Do you have a fallback plan - or at the very least - a plan to make secondary income while you work to make the new project profitable?
This is not ideal, as it would be best to devote all of your time to the new project - but that isn’t always possible. You will have to make this decision based on your current situation.
Combine the answers you uncover here with the answers you arrived at while answering questions #1 and #2 - and your short-term path will be clear. On the following page I’ll share my answers and give you a real-world example to help you get re-centered, re-focused, and reset!
🍻 Cheers, - AJ
Interested in working together? Sounds great!
I help website owners like you turn window shoppers & tire kickers into paying customers. I’m also a partner and Senior Design Lead at The Hauser Design Group where we focus exclusively on premium website development.